Business
Wesdome reports strong Q1 operating results
TORONTO, April 10, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to announce pr...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, April 10, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is\n pleased to announce preliminary production and sales figures for the\n first quarter ended March 31, 2013.  Gold production numbers are\n subject to final refining balances.\n\n\nDonovan Pollitt, President, commented \"Overall production was up 12%\n compared to the first quarter of last year.  This was driven by\n increased ore grades at the Eagle River and Mishi Mines, notably a leap\n up to 11 gAu/tonne recovered at our Eagle River Mine.  We are investing\n to improve mill throughput and reliability and expect to see the\n results of these capital projects beginning in the third quarter of\n this year.\"\n\n\nGOLD PRODUCTION\n\n\nDuring the first quarter, gold production from the Company's Eagle\n River, Mishi and Kiena mines amounted to over 14,000 ounces, a 12%\n improvement over last year's first quarter, in spite of reduced output\n at the Kiena Mine.\n\n\nThe Eagle River Mine produced 10,000 ounces of gold from 27,960 tonnes\n milled at an average recovered grade of 11.0 gAu/tonne.  Grades about\n doubled from those experienced in both the first quarters of 2012 and\n 2011.\n\n\nThe Mishi Mine produced 1,200 ounces of gold from 11,410 tonnes milled\n at an average recovered grade of 3.3 gAu/tonne.  Our ore stockpile at\n the mill grew to 56,000 tonnes at about 2.0 gAu/tonne as at March 31,\n 2013.  Milling remains the bottleneck for the Mishi Mine and we believe\n the Mishi Mine has great potential to evolve into a bigger producer for\n Wesdome.\n\n\nBoth the Eagle and Mishi mines feed the same mill.  Construction\n projects in progress will relieve bottlenecks in filtration and we\n project steady increases in throughput as the year progresses.\n\n\nThe Kiena Mine in Val d'Or produced about 3,000 ounces of gold from\n 60,113 tonnes milled at an average recovered grade of 1.54 gAu/tonne. \n Decreasing recovered grades made the Kiena Mine a net cash draw on the\n Company.  Without evidence of improvements in grades or output, in\n March of this year we announced our intention to place the Kiena Mine\n on care and maintenance status by June 30, 2013.  Development has\n ceased and developed ore will be mined.  We intend to drill off better\n grade stopes and continue mining and processing...