Wesdome Gold Mines Achieves Record Production for 2024

Wesdome Gold Mines Sets New Production Milestones

Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF), a prominent player in the Canadian gold sector, has announced remarkable achievements for the full year of 2024. The company reported record annual gold production reaching 172,034 ounces, marking a substantial 39% increase compared to the previous year.

2025 Production Outlook

Looking ahead, Wesdome anticipates that its consolidated gold production for 2025 will range between 190,000 and 210,000 ounces. The projected all-in sustaining costs are set between US$1,325 and $1,475 per ounce. This growth trajectory is reinforced by concerted capital investments intended to establish a foundation for both immediate and long-term operational strategies.

Optimizing Operations for Future Growth

Wesdome's President and CEO, Anthea Bath, expressed the company's unwavering commitment to maintaining high standards in health and safety while continuing to yield impressive production results. Bath noted that the advancements in planning and execution are vital as the company lays the groundwork for sustained growth and shareholder returns.

Exploration and Strategic Investments

In 2025, Wesdome's operations will focus on maintaining safe practices and optimizing resources from its high-grade assets located in Ontario and Quebec. A full year of production from the high-grade Kiena Deep Zone, coupled with ore contributions from the Presqu'île site expected later in the year, are set to stimulate increased output. Wesdome aims to enhance production efficiency at its Eagle River mine, ensuring both operations continue to thrive.

Investment in Exploration

Wesdome has allocated $38 million to exploration activities targeting high-grade zones, which includes significant projects at Kiena Deep and the 300 Zone at Eagle River. The objective is to extend mine life by boosting resource and reserve growth, thereby adding substantial value to its asset portfolio. The company is also advancing infrastructure projects essential for achieving both short-term goals and future expansion plans.

Sustainable Growth and Cost Management

As part of its fill-the-mill strategy, Wesdome is well-positioned to deliver increasing and sustainable production levels. The successful execution of resource growth initiatives, coupled with continuous improvements in operations, enhances overall efficiency. With a strong balance sheet and robust free cash flow, Wesdome is prepared to invest in further developments that promise long-term value generation.

Financial Performance Expectations

Looking ahead, Wesdome predicts a steady rise in gold production through 2026 as it aims for output between 195,000 and 220,000 ounces. This growth will primarily stem from enhanced throughput levels and planned infrastructure improvements at Eagle River, alongside consistent operations at Kiena. The successful mining of high-potential targets will play a crucial role in maintaining production momentum.

Conference Call for Stakeholders

Wesdome is committed to transparency and communication with its stakeholders. A conference call will be hosted to discuss the fourth-quarter and annual financial results, offering a platform for investors to inquire further about the company’s strategic direction and financial forecasts.

Frequently Asked Questions

What are the production targets for Wesdome in 2025?

Wesdome expects to produce between 190,000 and 210,000 ounces of gold in 2025.

What was the total gold production for Wesdome in 2024?

Wesdome achieved record gold production of 172,034 ounces in 2024.

How is Wesdome addressing its operational efficiency?

The company is focusing on improving its operational practices through better planning and execution while also investing in infrastructure.

What exploration initiatives is Wesdome pursuing?

Wesdome has allocated $38 million for exploration in 2025, specifically targeting high-grade zones to extend mine life and enhance reserves.

When will Wesdome hold its next conference call?

The next conference call will take place to discuss the fourth-quarter and annual results, providing insights into future plans and performance.

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