Business
Wesdome Reports Q2 Production / Sales
WDO: TSX TORONTO , July 21, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) is pleas...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\nWDO: TSX\n\n\nTORONTO, July 21, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) is\n pleased to announce preliminary production and sales figures for the\n second quarter and first half, ended June 30, 2014.  Gold production\n numbers are estimates subject to final refining balances.\n\n\nQ2 PRODUCTION AND SALES\n\n\nDuring the second quarter, 2014, the Company's Eagle River Complex\n produced 13,500 ounces of gold, compared to 13,700 ounces produced\n during the first quarter, 2014.\n\n\nBullion revenue for the second quarter, 2014, was $16.0 million on sales\n of 11,179 ounces at an average gold price of $1,398 per ounce (all\n figures in Canadian dollars).  This compares to revenue of $23.1\n million during the first quarter, 2014, on sales of 15,985 ounces at an\n average gold price of $1,447 per ounce.  Additional revenue of $410,000\n was realized during the quarter on by-product silver sales and smelter\n returns from Kiena carbons.\n\n\nThe gold price was off about $50 per ounce in the second quarter and\n sales volumes decreased 30%. The decline in volume was due to timing\n differences in gold sales and is a normal business consequence.  We had\n about 6,400 ounces of gold awaiting final refining balances at the end\n of the second quarter, 2014.\n\n\nH1 PRODUCTION AND SALES\n\n\nFor the first half of 2014, production totaled 27,200 ounces of gold. \n Sales amounted to 27,164 ounces at an average realized gold price of\n $1,427 per ounce for bullion revenue of $39.2 million.\n\n\nComparable figures from the Eagle River Complex for the first half of\n 2013 were 20,655 ounces of production and $37.3 million in revenue from\n sales of 24,400 ounces at an average price of $1,530 per ounce.\n\n\nOPERATING DETAILS\n\n\nDuring the second quarter, 2014, the Eagle River Mine produced 13,300\n ounces from 31,713 tonnes milled at an average recovered grade of 13.1\n gAu/tonne while the Mishi stockpile provided an additional 200 ounces\n from 3,014 tonnes milled at an average recovered grade of 2.1\n gAu/tonne.\n\n\nIn May, 2014, milling activities were suspended to better control spring\n run-off in the existing tailings management area.  Permitting efforts\n for the new tailings management area advanced as did our mill\n refurbishment and expansion project.  Until the new facility is\n av...