Business
Wesdome reports third quarter operating and financial results
TORONTO , Nov. 7, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) ("Wesdome" or the "Compan...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\nTORONTO, Nov. 7, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO)\n (\"Wesdome\" or the \"Company\") is pleased to report its unaudited\n financial and operating results from its Canadian operations for the\n third quarter ended September 30, 2013.  This information should be\n read in conjunction with the Company's interim unaudited financial\n statements and Management's Discussion and Analysis for the third\n quarter ended September 30, 2013 which will be available for viewing on\n the Company's website at www.wesdome.com and on SEDAR (www.sedar.com).  All figures are in Canadian dollars unless otherwise specified.\n\n\nHIGHLIGHTS\n\n\n\nNew Board and Management\n\n\nHigher cost Kiena operations placed on care and maintenance\n\n\nWindarra tuck-in acquisition completed\n\n\nMill refurbishment advances\n\n\nProduction interruption due to lightning strike\n\n\nOne-time costs generate small loss\n\n\nVery strong start to fourth quarter with more than 6,000 ounces\n production in October\n\n\nTwo new gold zones identified at Eagle River as drilling activity\n intensifies\n\n\n\n\n\n\nRolly Uloth, President & CEO comments \"We are investing to secure the\n future in a modest stepwise fashion that is internally financed.  We\n are establishing the infrastructure to optimally extract value from our\n resources over the longterm.  Our assets and people have demonstrated\n resilience when gold prices dropped in the past and we consider it a\n luxury not to be dependent on tapping equity markets when sentiment is\n fragile.\"\n\n\nOVERALL PERFORMANCE\nThe Company owns and operates the Eagle River Mine Complex in Wawa,\n Ontario and the Kiena Mine Complex in Val-d'Or, Quebec.  On January 1,\n 2012, the Mishi mine in Wawa commenced commercial production.  The\n Eagle River and Mishi Mines feed a common mill and are referred to as\n the Eagle River Complex.  The Eagle River mine has been in continuous\n production since commercial production commenced January 1, 1996.  It\n has produced 946,210 ounces to date.  The Kiena mine was purchased by\n the Company in 2003.  It restarted commercial production on August 1,\n 2006.  It was previously in production from 1982 - 2002.  To date the\n Kiena Mine has produced 1,757,475 ounces of gold.\n\n\nOn March 7, 2013, the Company an...