- Wesdome Gold Mines (WDO) announced that commercial production has been achieved at its Kiena mine in Val d’Or, Québec
- An underground test pour was successfully completed in November at the paste-fill plant
- Wesdome Gold Mines Ltd. is a gold producer focused on Canadian projects, each of which is in various stages of development
- Wesdome Gold Mines (WDO) shares were up 8.48 per cent to C$9.85 at 10:45 a.m. ET
Wesdome Gold Mines (WDO) announced that commercial production has been achieved at its Kiena mine in Val d’Or, Québec.
An underground test pour was successfully completed in November at the paste fill plant. The final element for Kiena to meet its commercial production criteria was demonstrating its viability.
Now that it is available to the operation, it will help reduce stope stand-up time, minimize the risk of instability, better control dilution, and allow for a more rapid overall mining sequencing. It can also allow for the reallocation of resources (both equipment and people) that were engaged in the cemented rockfill operations.
Duncan Middlemiss, President and CEO of Wesdome Gold Mines, said that Kiena is the company’s second operating mine in Canada, de-risking its status as a single mine operator and adding another source of revenue.
“Although capital spending at Kiena is expected to decline next year due to development delays, we now expect to have the development in place to access the bulk of the high-grade Kiena Deep A Zone in 2024, which will allow us to achieve positive free cash flow and an annual production run rate consistent with the 2021 Kiena Mine Complex Pre-Feasibility study. The company will release its 2023 production and cost guidance, which reflects this progressive ramp up of tonnes and grade in January.”
He added that the team still sees significant exploration potential at Kiena, particularly the recent discoveries in the Footwall, Hanging wall, and South Limb zones.
“These zones have the potential to increase the number of ounces per vertical metre and to provide additional working faces during mining. Longer term, the Presqu’Ile discovery is shallower than the Kiena Deep A Zone, potentially accessible by ramp as another source of feed for the mill, which has a 2,000 tonnes per day capacity, currently operated at 1,000 to 1,200 tonnes per day only four days a week.”
Wesdome Gold Mines Ltd. is a gold producer focused on Canadian projects, each of which is in various stages of development.
Wesdome Gold Mines (WDO) shares were up 8.48 per cent to C$9.85 at 10:45 a.m. ET.
