TORONTO, April 9, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) is
pleased to announce preliminary production and sales figures for the
first quarter ended March 31, 2014. Gold production numbers are
subject to final refining balances.
Rolly Uloth, President, comments "Another strong quarter with excellent
grade helps build our treasury."
Gold Production and Sales
During the first quarter, the Company's Eagle River and Mishi Mines
produced approximately 13,700 ounces of gold.
The Eagle River Mine produced approximately 12,700 ounces from 30,000
tonnes milled at a recovered grade of 13.0 gAu/tonne.
The Mishi Mine added approximately 1,000 ounces from 12,000 tonnes
milled at a recovered grade of 2.5 gAu/tonne.
During the first quarter, 15,985 ounces of gold were sold at an average
of $1,447 per ounce generating revenue of $23.1 million (all figures in
Financial Results/Annual Meeting
We expect the first quarter financial results to be good and we expect
to release them prior to our Annual Shareholder's Meeting on Tuesday,
May 6, 2014. The meeting will be held at the TSX Gallery, 130 King
Street West, Toronto, Ontario at 4:00 pm.
A strong start under harsh winter conditions gives us confidence that we
can meet or exceed our 2014 production target of 50,000 ounces.
Wesdome is in its 28th year of continuous mining operations in Canada. It currently has two
producing gold mines in Wawa, Ontario and owns the Kiena Complex in Val
d'Or, Québec. The Company has 111.1 million shares issued and
outstanding and trades on the Toronto Stock Exchange under the symbol
This press 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
SOURCE: Wesdome Gold Mines Ltd.
For further information:
President & CEO
416-360-3743 ext 25
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22
Philip Ng, P.Eng.
Chief Operating Officer
416-360-3743 ext 23
8 King St. East, Suite 1305
Toronto, ON, M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: email@example.com, Website: www.wesdome.com