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Wesdome Gold Mines Reports Second Quarter 2025 Financial Results
TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announced its financial results f
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":" TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announced its financial results for the three and six months ended June 30, 2025 (“Q2 2025” and “H1 2025”). Preliminary operating results for Q2 2025 were disclosed in the Company’s press release dated July 14, 2025. Management will host a conference call tomorrow, August 14, 2025 at 10:00 a.m. ET to discuss its results. All amounts are expressed in Canadian dollars unless otherwise indicated. Highlights Improving Safety Performance: Total Classified Incident Frequency Rate was 0.00 in Q2 2025 and 0.19 for H1 2025, a significant improvement from the 2024 average of 1.34. Production and costs: Consolidated gold production was 42,781 ounces; a 3% decrease compared to Q2 2024. Cost of sales per ounce sold decreased by 1% to US$932, while all-in sustaining costs (“AISC”) per ounce sold1 increased 6% to US$1,528. The average realized price of gold sold in Q2 2025 was US$3,279 per ounce. Expanding margins: Gross profit increased by 146% year-over-year to $132.2 million and cash margin1 grew by 96% to $149.4 million. Record quarterly net income: Net income increased to $82.7 million, or $0.55 earnings per share, a nearly threefold increase from Q2 2024. Record quarterly EBITDA1: EBITDA1 increased by 104% to $138.4 million relative to the comparative quarter in 2024. Record net cash from operating activities and free cash flow1: Net cash from operating activities was $100.9 million, or $0.67 per share3, while free cash flow1 was $52.9 million, or $0.35 per share. Record liquidity: As at June 30, 2025, liquidity stood at $530.0 million, including $187.6 million in cash and US$250.0 million of undrawn full capacity available under its recently upsized revolving credit facility, compared to liquidity of $273.1 million (including $123.1 million in cash) as at December 31, 2024. Amended and Restated Credit Agreement: On June 19, 2025, the Company amended and restated its credit agreement, extending the maturity of its secured revolving credit facility by three years to June 19, 2028, and upsizing it to US$250 million, with an option to increase the available credit by US$50 million through an accordion feature, for total availability of up to US$300 million. Completed acquisition of Angus Gold: The strategic additio...