A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
- Wesdome Gold reported Wednesday that the company’s quarterly gold production increased by 21%, from 22,883 ounces in Q3 2022 to 27,760 ounces in Q3 2023.
According to Wesdome, at Kiena, development of the ramp to the 129-level mining horizon tracked ahead of schedule. The company said it reaffirms its consolidated 2023 production guidance of 110,000 to 130,000 ounces as well as cost guidance for cash costs, all-in sustaining costs and capital expenditures.The company also reported Q3 2023 net loss of $3.2 million or $0.02 per share and adjusted net loss of $2.6 million or $0.02 per share .
“We are expecting a strong finish to this year and based on our year-to-date performance, we are well positioned to deliver on the mid-point of production and cost guidance. Looking ahead, preliminary plans for 2024 continue to point to a production and operating cash flow rebound which will support total capital investment levels similar to this year,” the company said in a press release.
Wesdome is a Canadian focused gold producer with two high grade underground assets, the Eagle River mine in Ontario and the recently commissioned Kiena mine in Quebec.
Wesdome Gold Gold Production Quarterly Report Kiena Mining Cash Flow
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