Wesdome Gold Mines Reports Record Quarterly Production in Q2 2024
Wesdome Gold Mines Ltd. has announced its production results for the second quarter ending June 30, 2024 (Q2 2024). The company will release its Q2 2024 financial results after markets close on Wednesday, August 14, 2024, followed by a conference call and webcast the next morning.
Q2 2024 Production Performance:
- Ore milled (tonnes):
- Eagle River: 52,552 (Q2 2023: 64,672)
- Kiena: 57,669 (Q2 2023: 51,824)
- Head grade (grams per tonne):
- Eagle River: 11.8 (Q2 2023: 11.4)
- Kiena: 13.5 (Q2 2023: 5.0)
- Gold production (ounces):
- Eagle River: 19,272 (Q2 2023: 22,845) - Kiena: 24,763 (Q2 2023: 8,147)
- Total: 44,035 (Q2 2023: 30,992)
- Gold sold (ounces):
- Q2 2024: 40,000 (Q2 2023: 32,000)
Anthea Bath, President and CEO of Wesdome, stated, "The second quarter marked a milestone for Wesdome, delivering the highest consolidated quarterly production output to date. At Kiena, production nearly tripled compared to the first quarter due to the ramp-up in mining of high-grade Kiena Deep ore from the 129-level horizon in mid-April, which was processed at record throughput levels. This is a proud moment for all involved, and I extend my congratulations to the entire site team. At Eagle River, the mine delivered on plan despite a maintenance shutdown in late June."
Bath highlighted that with the solid performance in the first half of the year, Wesdome is on track to achieve its 2024 annual production guidance of 160,000 to 180,000 ounces of gold. She also noted that with strong operating cash flow from both high-grade mines, the company has paid down the remaining $29 million balance on its revolving credit facility, making Wesdome debt-free.
