Production from the
At Kiena, Q4 production was 38,000 tonnes at an average grade of 14.1 gpt and a recovery rate of 98% to produce 16,929 ounces. Total production for the year at Kiena was 68,470 tonnes at an average grade of 10.4 gpt at a recovery rate of 98% to produce 22,440 ounces, also near the high end of our guidance range of 15,000 - 25,000 ounces.
2021 Highlights
Mishi gold production of 36,508 tonnes at an average grade of 2.4 gpt to produce 2,283 ounces.
Combined revenue from gold sales of
Published Kiena Pre-Feasibility Study ('PFS'); IRR 98%.
Discovered new high grade
Initial sill development and production on the Falcon 7 Zone and discovery of North Contact Zone at
Included in TMX 30 recognition program for the third consecutive year. This flagship program showcases the TSX's 30 top-performing stocks based on dividend adjusted share price appreciation.
Placed 56th overall out of 220 TSX-listed companies in the annual Globe and Mail Board Games report on corporate governance, and in a multi-way tie for 10th in the materials category
In
Looking ahead to 2022, we are guiding total production of 160,000 - 180,000 ounces, a 30% - 45% increase over 2021. We expect costs to be slightly lower than 2021, and are guiding consolidated cash costs per ounce sold to range between
I would like to thank all of our employees and stakeholders who have made this transformational year possible, despite the obvious challenges of the global pandemic and associated supply chain disruptions. Tough times make tough teams.'
COVID-19
The health and safety of our employees, contractors, vendors, and consultants is the Company's top priority. In response to the COVID-19 outbreak, Wesdome has adopted all public health guidelines regarding safety measures and protocols at all of its mine operations and corporate office. In addition, our internal
Through care and planning, to date the Company has successfully maintained operations, however there can be no assurance that this will continue despite our best efforts with the emergence of new, highly contagious variants such as Omicron. To date the company has been impacted by this most recent variant outbreak, with employees at both operations and corporate office becoming infected. Impacts of significant numbers of employees being absent have been limited so far however future conditions may warrant reduced or suspended production activities which could negatively impact our ability to maintain projected timelines and objectives. Consequently, the Company's actual future production and production guidance is subject to higher levels of risk than usual. We are continuing to closely monitor the situation and will provide updates as they become available.
ABOUT WESDOME
Wesdome is Canadian focused with two producing underground gold mines. The Company's goal is to build
Contact:
Tel: 416-360-3743
Email: duncan.middlemiss@wesdome.com
Web: www.wesdome.com
This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. 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. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow.
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