Wesdome Announces Fourth Quarter and Full Year 2022 Production Results; Provides 2023 Guidance
2023年1月18日 - 7:00AM
Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”)
today announces fourth quarter (“Q4”) and full year 2022 production
results and 2023 guidance. All figures are in Canadian dollars
unless otherwise stated.
2022 Operating Performance
|
Q4 2022 |
Q4 2021 |
FY 2022 |
FY 2021 |
|
|
|
|
|
Ore
milled (tonnes) |
|
|
|
|
Eagle River |
58,306 |
56,159 |
223,734 |
228,759 |
Mishi |
- |
6,215 |
23,153 |
36,508 |
Kiena |
51,419 |
38,000 |
115,171 |
68,470 |
|
109,725 |
100,374 |
362,058 |
333,737 |
|
|
|
|
|
Head
grade (grams per tonne, “g/t”) |
|
|
|
|
Eagle River |
14.0 |
13.7 |
11.5 |
13.8 |
Mishi |
- |
2.1 |
3.2 |
2.4 |
Kiena |
5.9 |
14.1 |
7.9 |
10.4 |
|
|
|
|
|
Gold
production (ounces) |
|
|
|
|
Eagle River |
25,502 |
24,267 |
79,997 |
99,120 |
Mishi |
- |
363 |
2,005 |
2,283 |
Kiena |
9,614 |
16,929 |
28,848 |
22,440 |
Total
Gold Production |
35,116 |
41,559 |
110,850 |
123,843 |
Production sold2 |
31,500 |
37,544 |
113,000 |
118,501 |
Notes:
- Numbers may not add due to rounding.
- YTD 2021 production sold includes 1,793 ounces of gold sold
from the Kiena bulk sample which was processed in Q4 2020 and sold
in Q1 2021.
Duncan Middlemiss, President and CEO of Wesdome,
commented:
“2022 was a challenging year for the Company,
with production misses at both assets. At Eagle, underperformance
was primarily related to the variability of the Falcon Zone, which
negatively impacted our ability to accurately forecast near term
production. The Falcon Zone mineralization has a high nugget effect
and we have experienced both positive and negative reconciliations
since we commenced mining this area in Q4 of 2021. With the
implementation of short-term block models, improved reconciliation
procedures, and an increased inventory of drilled reserves, near
term grade projections are improving. Production in Q4 2022 was
below expectations as a result of the planned higher grades at the
Falcon Zone slipping into Q1 2023, partially due to severe
snowstorms hindering our ability to truck the high-grade ore to the
mill. Preliminary milled ore grades for the first two weeks of
January have been strong at 17 g/t. For the 2023 budget we have
taken a conservative approach and mitigated the risk of the
variability of this zone by applying tighter drilling spacing and
having additional ore development in place to improve forecasting
within the Falcon Zone.
At Kiena, supply chain delays unfortunately put
us approximately six months behind schedule on our original
commercial production date, and 9 – 12 months behind on ramp
development, thereby limiting mining operations to lower grade
areas of the mine. Ore is planned to be extracted from the S-50,
VC, and Martin Zones as well as existing A-Zone stopes, the latter
of which require remediation with paste fill to facilitate adjacent
mining. All equipment is now on site and operational, with the
paste fill plant successfully commissioned and performing well.
Successful execution of ramp development in 2023 will provide
access to the much wider part of the high grade A Zone in 2024,
where ounces per vertical metre increase significantly. Accessing
this portion of the A-Zone was originally scheduled in the
Pre-Feasibility Study (“PFS") for the latter half of 2023 when the
ramp reaches the 129 sublevel, which is now scheduled by the end of
the year. A complete five-sublevel mining front will be developed
from the 123 sublevel by year end to allow for bottom up mining,
which is preferable for optimum ground and ore control.
2023 Guidance
Amounts are denominated in Canadian dollars, or otherwise
indicated |
Guidance |
|
|
Gold production
(ounces) |
110,000 – 130,000 |
Eagle River |
80,000 – 90,000 |
Kiena |
30,000 – 40,000 |
|
|
Head grade
(g/t) |
|
Eagle River |
11.5 – 12.5 |
Kiena |
3.7 – 4.7 |
|
|
Cash cost per ounce
sold1 |
$1,500 - $1,670US$1,150-US$1,290 |
|
|
All-in sustaining cost
per ounce sold1 |
$2,100 - $2,340US$1,620 – US$1,800 |
|
|
Total general and
corporate administration expense |
$13 - 15 million |
|
|
Total budget capital
spend |
$100 million |
|
|
Sustaining capital |
$55 million |
Eagle River |
$42 million |
Kiena |
$13 million |
|
|
Growth capital |
$45 million |
Eagle River |
- |
Kiena |
$45 million |
|
|
Planned definition and
exploration program (metres)2 |
137,000 |
Eagle River |
97,000 |
Kiena |
40,000 |
|
|
- Cash cost per ounce sold and All-in sustaining cost per ounce
are non-IFRS measures, please reference the Company’s interim
management discussion and analysis for the period ended September
30, 2022, filed on SEDAR for their calculations.
- Includes 40,000 metres and 10,000 metres of definition drilling
at Eagle River and Kiena, respectively.
Looking ahead, 2023 will be a consolidation year
for the Company as we leverage the experience from 2022 to better
forecast production at Eagle River (particularly the Falcon Zone),
and advance development at Kiena to increase our developed reserves
by year end. While total capital spending in 2023 is expected to be
lower relative to last year, some growth capex at Kiena remains to
be spent as we catch-up on delayed ramp development, gaining access
to the area of the A Zone where gold production approaches the
Pre-Feasibility Study (PFS) levels forecast for 2024. Capital
outlays are then expected to decline in 2024 as the majority of
growth spending comes to an end. As such, operational and financial
performance overall is expected to significantly improve in
2024.
Despite recent headwinds, on the exploration
front we remain excited about what the future holds at both assets.
With approximately 137,000 metres of drilling budgeted for 2023,
exploration activities will prioritize opportunities to extend
mineralization near existing mine infrastructure. At Eagle River,
we see strong potential in the targets adjacent to the mine diorite
and the up-plunge extension of the Falcon Zone (see press release
dated October 5, 2022). At Kiena, we plan to better define and
extend recently discovered zones (see press release dated June 1,
2022) and prepare the Presqu’ile zone for future development.”
Fourth Quarter 2022 Conference Call and
Webcast
The Company will release its fourth quarter 2022 financial
results after market close on Wednesday, February 22, 2023. At
that time, the financial statements and management discussion and
analysis will be available on the company’s website at
www.wesdome.com and on SEDAR www.sedar.com. A conference call and
webcast to discuss these results will be held on Thursday, February
23 at 10:00 am ET.
- Participants may register for the call at the link below to
obtain dial in details. Preregistration is required for this event.
It is recommended you join 10 minutes prior to the start of the
event.
- Participant Registration Link:
https://register.vevent.com/register/BIcb64cd10b9f843d79897899900fca10c
- Webcast
Link: https://edge.media-server.com/mmc/p/oab6ykxp
- The webcast can also be accessed under the news and events
section of the company’s website
Technical Disclosure
The technical content of this release has been
compiled, reviewed and approved by Frédéric Langevin, Eng, Chief
Operating Officer of the Company, and Michael Michaud, P.Geo., Vice
President, Exploration of the Company and both a "Qualified Person"
as defined in National Instrument 43-101 -Standards of Disclosure
for Mineral Projects.
ABOUT WESDOME
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. The
Company also retains meaningful exposure to the Moss Lake gold
deposit in Ontario through its equity position in Goldshore
Resources Inc. The Company’s primary goal is to responsibly
leverage this operating platform and high-quality brownfield and
greenfield exploration pipeline to build Canada’s next intermediate
gold producer. Wesdome trades on the Toronto Stock Exchange
under the symbol “WDO,” with a secondary listing on the OTCQX under
the symbol “WDOFF.”
For further information, please
contact: |
|
Duncan
Middlemiss |
|
or |
|
Lindsay
Carpenter Dunlop |
President and CEO |
|
|
|
VP Investor Relations |
416-360-3743 ext. 2029 |
|
|
|
416-360-3743 ext. 2025 |
duncan.middlemiss@wesdome.com |
|
|
|
lindsay.dunlop@wesdome.com |
|
|
|
|
|
220 Bay St, Suite 1200 |
|
|
|
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Toronto, ON, M5J 2W4 |
|
|
|
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Toll Free: 1-866-4-WDO-TSX |
|
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416-360-3743, Fax: 416-360-7620 |
|
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Website: www.wesdome.com |
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FORWARD-LOOKING INFORMATION
This news release contains “forward-looking
information” which may include, but is not limited to, statements
with respect to the benefits of achieving commercial production at
Kiena, the Company’s expected capital expenditure in 2023, the
timing around reaching the Kiena Deep A Zone, the Company’s ability
to be cash flow positive and its annual production run rate. Often,
but not always, forward-looking statements can be identified by the
use of words such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or
“believes” or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Forward-looking statements contained herein are made as
of the date of this press release and the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise.
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward-looking
statements if circumstances, management’s estimates or opinions
should change, except as required by securities legislation.
Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements.
PDF available:
http://ml.globenewswire.com/Resource/Download/4ed2e6e7-0422-4c55-bd21-5dfe6fba11b1
Wesdome Gold Mines (TSX:WDO)
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Wesdome Gold Mines (TSX:WDO)
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から 1 2024 まで 1 2025