TORONTO, Aug. 26, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) ("Wesdome" or the "Company") is pleased to announce the appointment of Lindsay Carpenter Dunlop as Vice President, Investor Relations.
Ms. Dunlop has ten years' experience in investor relations and corporate communications for publically traded mining companies. Beginning her career at one of Canada's longest established investor relations firms she was responsible for the management and execution of investor relations programs for several Canadian junior mining and oil and gas companies. Most recently, Ms. Dunlop held the position of Director of Investor Relations at Kirkland Lake Gold Inc. where she was responsible for the development of the Company's external and internal corporate communications, marketing, and investor relations initiatives over the last five years. During her tenure at Kirkland Lake, Ms. Dunlop saw the Company transition from a junior to an intermediate gold producer and was responsible for all aspects of stakeholder communication of this evolution.
Mr. Rolly Uloth, President and CEO commented, "Wesdome's new management team has been successful in delivering significantly improved financial and operational results, generating $7.1 million of free cash flow during the first half of the year, and increasing its full-year production forecast. During the second quarter of the year, we identified the need for an investor relations professional in our industry best positioned to elevate Wesdome's marketing and communications programs and interactions with stakeholders to a new level. Lindsay possesses extensive knowledge of the mining capital markets and investor relations strategies, which will be an asset to the Company as we increase free cash flow generation and evaluate the next phases of growth and longer term strategy in the business."
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.
SOURCE: Wesdome Gold Mines Ltd.
For further information: Rolly Uloth, President & CEO, 416-360-3743 or Lindsay Dunlop, Vice President, Investor Relations, 416-360-3743 ext. 25, [email protected]; 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 protected], Website: www.wesdome.com