{"id":3662,"date":"2020-04-16T14:43:00","date_gmt":"2020-04-16T14:43:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2517646"},"modified":"2020-04-16T14:43:00","modified_gmt":"2020-04-16T14:43:00","slug":"wesdome-announces-2020-first-quarter-production-of-25122-ounces-of-gold-produced","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/04\/16\/wesdome-announces-2020-first-quarter-production-of-25122-ounces-of-gold-produced\/","title":{"rendered":"Wesdome Announces 2020 First Quarter Production of 25,122 Ounces of Gold Produced"},"content":{"rendered":"

 Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the first quarter of 2020 (“Q1”).<\/p>\n

Mr. Duncan Middlemiss, President and CEO commented, “First quarter production of 25,122 ounces was within budget, however grade was slightly lower due to stope sequencing. Mill feed increased by 34% to 735 tonnes per day compared to Q1 2019. With the COVID-19 pandemic occurring at the end of Q1 and subsequent health and safety actions taken, we expect slightly lower production in Q2 compared to Q1. As part of these health and safety protocols, we have shut down the Mishi Open Pit and have moved to a reduced workforce in other areas at the Eagle River Complex. Despite these reductions in activities, we are maintaining our full year production guidance of 90,000 – 100,000 ounces due to flexibility in stope sequencing. On behalf of management and the board of directors I would like to thank all employees for their cooperation and dedication in these unprecedented times. Currently the Company expects to resume drilling and development work at Kiena during the week of May 4, 2020 and the impact of this six week shutdown has significantly tightened our timeframe of getting to a restart decision by the end of 2020. The timing of this will be evaluated and communicated to the market in Q3.”<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nAmounts are denominated in Canadian dollars<\/em><\/td>\nFirst Quarter<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/em><\/td>\n <\/td>\n2020<\/strong><\/td>\n <\/td>\n2019<\/strong><\/td>\nVariance<\/strong><\/td>\n% +\/(-)<\/strong><\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/em><\/td>\n <\/strong><\/td>\n <\/strong><\/td>\n <\/strong><\/td>\n <\/strong><\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nOre milled (tonnes)<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nEagle River<\/td>\n <\/td>\n55,874<\/strong><\/td>\n <\/td>\n30,941<\/td>\n <\/td>\n24,933<\/td>\n81%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nMishi<\/td>\n <\/td>\n11,047<\/strong><\/td>\n <\/td>\n18,470<\/td>\n <\/td>\n(7,423)<\/td>\n (40%)<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n66,922<\/strong><\/td>\n <\/td>\n49,411<\/td>\n <\/td>\n17,511<\/td>\n35%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nHead grade (grams per tonne, “g\/t”)<\/td>\n <\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nEagle River<\/td>\n <\/td>\n14.0<\/strong><\/td>\n <\/td>\n18.5<\/td>\n <\/td>\n(4.5)<\/td>\n (24%)<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nMishi<\/td>\n <\/td>\n2.5<\/strong><\/td>\n <\/td>\n2.2<\/td>\n <\/td>\n0.3<\/td>\n14%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nGold production (ounces)<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nEagle River<\/td>\n <\/td>\n24,457<\/strong><\/td>\n <\/td>\n17,955<\/td>\n <\/td>\n6,502<\/td>\n36%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nMishi<\/td>\n <\/td>\n665<\/strong><\/td>\n <\/td>\n1,055<\/td>\n <\/td>\n(390)<\/td>\n (37%)<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nTotal Gold Production<\/td>\n <\/td>\n25,122<\/strong><\/td>\n <\/td>\n19,010<\/td>\n <\/td>\n6,112<\/td>\n32%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nProduction sold (ounces)<\/td>\n <\/td>\n26,500<\/strong><\/td>\n <\/td>\n18,760<\/td>\n <\/td>\n7,740<\/td>\n41%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nRevenue from gold sales ($ millions)<\/td>\n$<\/strong>57.3<\/strong><\/td>\n$32.5<\/td>\n$24.8<\/td>\n76%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nAverage realized price per ounce 2<\/sup><\/td>\n$<\/strong>2,162<\/strong><\/td>\n$1,733<\/td>\n <\/td>\n429<\/td>\n25%<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Notes:<\/p>\n

1.  <\/sup>Operating numbers may not add due to rounding.
2.  <\/sup>Average realized price per ounce is a non-IFRS performance measure and is calculated by dividing the revenue from gold sales by the number of ounces sold for a given period.<\/p>\n

Technical Disclosure<\/strong><\/p>\n

The technical content of this release has been compiled, reviewed and approved by Marc-Andre Pelletier, P. Eng, Chief Operating Officer, a “Qualified Person” as defined in National Instrument 43-101 –Standards of Disclosure for Mineral Projects<\/em>.<\/p>\n

ABOUT WESDOME<\/strong>
Wesdome Gold Mines has had over 30 years of continuous gold mining operations in Canada.  The Company is 100% Canadian focused with a pipeline of projects in various stages of development.  The Eagle River Complex in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill.  Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec.  The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tonne-per-day mill.  The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario.  The Company has approximately 137.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.<\/p>\n

For further information, please contact:<\/strong><\/p>\n\n\n\n\n\n
Duncan Middlemiss
President and CEO
416-360-3743  ext. 2029 
duncan.middlemiss@wesdome.com<\/td>\n		or<\/td>\nLindsay Carpenter Dunlop
VP Investor Relations
416-360-3743  ext. 2025
lindsay.dunlop@wesdome.com<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
220 Bay St. East, Suite 1200
Toronto, ON, M5J 2W4
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Website: www.wesdome.com<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

See Campaign: <\/strong>http:\/\/http:\/\/wesdome.com<\/a>
Contact Information:<\/b>
Duncan Middlemiss
\nPresident and CEO
\n416-360-3743 ext. 2029
\nduncan.middlemiss@wesdome.com<\/p>\n

Tags:<\/b>
<\/a>, Wire<\/a>, Disclosure Newswire<\/a>, United States<\/a>, English<\/a><\/p>\n

\"image\"<\/div>\n

\n

Contact Information:<\/h3>\n

Duncan Middlemiss
\nPresident and CEO
\n416-360-3743\u00a0 ext. 2029\u00a0
\nduncan.middlemiss@wesdome.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

 Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the first quarter of 2020 (“Q1”). Mr. Duncan Middlemiss, President and CEO commented, “First quarter production of 25,122 ounces was within budget, however grade was slightly lower due to stope sequencing. Mill feed increased by 34% to 735 tonnes … Continue reading Wesdome Announces 2020 First Quarter Production of 25,122 Ounces of Gold Produced<\/span><\/a> Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,3,22,54],"tags":[],"class_list":["post-3662","post","type-post","status-publish","format-standard","hentry","category-disclosure-newswire","category-english","category-united-states","category-wire"],"yoast_head":"\nWesdome Announces 2020 First Quarter Production of 25,122 Ounces of Gold Produced - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/04\/16\/wesdome-announces-2020-first-quarter-production-of-25122-ounces-of-gold-produced\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wesdome Announces 2020 First Quarter Production of 25,122 Ounces of Gold Produced - Business\" \/>\n<meta property=\"og:description\" content=\" Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the first quarter of 2020 (“Q1”). Mr. Duncan Middlemiss, President and CEO commented, “First quarter production of 25,122 ounces was within budget, however grade was slightly lower due to stope sequencing. 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