Wesdome Gold Mines Ltd. · TSX:WDO
Wesdome Gold Mines — Q2 2025 Earnings Presentation
27 slides from Wesdome Gold Mines's earnings presentation, Aug 14, 2025
Slide 1: Q2 & H1 2025 Highlights
Q2 & H1 2025 HIGHLIGHTS TSX: WDO | OTCQX: WDOFF AUGUST 14, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward Looking Information” and “Risks and This document contains "forward-l
Slide 3: Participants on Today's Call
Participants on Today’s Call Anthea Bath Guy Belleau Raj Gill President and Chief Operating Officer Interim Chief Financial Officer Chief Executive Officer Jono Lawrence Kevin Lonergan Senior Vice President Senior Vice President Exploration and Resources Technical Services 3
Slide 4: Q2 2025 Highlights
Q2 2025 Highlights 42,781 oz $209M $83M $138M $101M $53M Gold Produced Revenue Net Income EBITDA1 Net Cash From Free Cash Flow1 Operating Activities 4
Slide 5: Updated 2025 Guidance
Updated 2025 Guidance1 2025 Guidance Eagle River Kiena Consolidated Previous Updated Previous Updated Previous Updated Production Head grade (g/t) 13.0 - 15.0 14.0 - 15.0 10.0 - 11.0 10.0 - 11.0 11.0 - 13.0 12.0 - 13.0 Gold production (oz) 100,000 - 110,000 105,000 - 115,000 90,000 - 100,000 80,000
Slide 6: Completed Acquisition of Angus Gold
Completed Acquisition of Angus Gold Amended & Upsized Credit Facility Quadrupled Eagle River land package US$250M committed + US$50M accordion SOFR + 2.25% to 3.25% Closing date June 27, 2025 Purchase price $33.5M + 517,869 Wesdome shares 6
Slide 7: Upcoming Milestones and Catalysts
Upcoming Milestones and Catalysts H2 H1 2025 Complete Kiena exploration 2026 Eagle River ramp and commence exploration release Presqu’île stoping Eagle River and Kiena Announce results of exploration updates NI 43-101 reports Q3 Q4 2025 2025 7
Slide 8: Operations
Operations
Slide 9: Eagle River – Strong Q2 and H1 2025 Performance
Eagle River – Strong Q2 and H1 2025 Performance Q2 Production (koz) H1 Production (koz) Achievements 55 300 Zone development a full year ahead 44 Targeting $4 million annualized savings in 2025 Transition from contractors expected to provided additional savings 26 More than 50% of development metres
Slide 10: Kiena Continues to Lag – Action Plan in Place to Secure H2 Production
Kiena Continues to Lag – Action Plan in Place to Secure H2 Production Q2 Production (koz) H1 Production (koz) Initiatives Underway to Deliver on Revised Guidance 33 34 Optimizing maintenance shift coverage Increasing maintenance workshop availability 25 Securing additional machinery and equipment 17
Slide 11: Increasing Operational Flexibility at Kiena
Increasing Operational Flexibility at Kiena Presqu’île ramp Existing shaft 2 to surface to 930m depth 0m Presqu’île Exploration Level 11 3 (Presqu’île - 2025) 1 Level 33 Exploration 3 (Shawkey, Dubuisson, Wish Area - 2025) Level 33 -500 m 1 Redundancy in mining areas → +200% Increasing from one in 2
Slide 12: Exploration
Exploration
Slide 13: Eagle River – Encouraging Results from Q2 2025 Drill Program
Eagle River – Encouraging Results from Q2 2025 Drill Program Eagle River Plan View 300- and 300-Fold Zone N Drilling Completed in Q2 2025 (Underground) Falcon 311 Zone 711 / 6 Central Zone (Underground) (Underground) Upper Falcon (Surface) 6 Zone / 2 Parallel Zone (Surface) m m m m 13
Slide 14: Drilling at Dorset Planned to Support Updated Technical Report
Drilling at Dorset Planned to Support Updated Technical Report Angus DDHs 2025 Completed Dorset West Dorset Zone A Dorset Dorset East Zone B 14
Slide 15: New Drill Platforms at Kiena
New Drill Platforms at Kiena Offer Better Angles for Drilling Kiena Deep, B and VC Zones +12900E +13050 +13200 +13350 +13500 +13650 +13800 +13950 +13050N A Kiena Deep and B B Zone Long Section 109 Level Looking Southwest B Exploration Drift (extension) 100-Level +12900N 103-Level Kiena Deep A and Fo
Slide 16: Drilling Intercepts High-Grade Near Historic Shawkey Mine
Drilling Intercepts High-Grade Near Historic Shawkey Mine +14000E +14200E +14400E +14600E +14800E +15000E +15200E +15400E +15600E +15800E +12600 N Level 33 Drilling Plan View +12400 N Martin N033-6976 Zone 3.6 g/t over 3.7m N033-6937 8.92 g/t over 3.0m +12200 N 33-Level Wish Zone N033-7081 6.21 g/t
Slide 17: Financial Highlights
Financial Highlights
Slide 18: Record-Setting Second Quarter Financial Performance
Record-Setting Second Quarter Financial Performance Cash Margin ($M) EBITDA ($M)1 Increased by 220% compared to Q1 2024 Increased by 240% compared to Q1 2024 149.4 138.4 124.6 127.6 114.9 119.4 94.6 84.6 76.2 67.9 46.6 40.7 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Net
Slide 19: Consolidated Production and All-in Sustaining Costs
Consolidated Production and All-in Sustaining Costs Q2 Production (koz) H1 Production (koz) Q2 2025 All-in Sustaining Costs per Ounce1 88 Sustaining $245 mine capital 77 development Sustaining mine $237 exploration and development $12 Tailings management US$1,528 $929 Cash costs3 44 43 facility $102
Slide 20: Growing Cash Balance and Liquidity
Growing Cash Balance and Liquidity Cash Balance ($M) Total Liquidity ($M) Increased by $140M since Q1 2024 Increased to $530M with new credit facility1 188 168 $188M Cash and 123 Equivalents $530M 83 Total Liquidity 48 51 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 1. US$250 Million credit facility converte
Slide 21: Q&A
Q&A
Slide 22: Appendix
Appendix
Slide 23: Eagle River – Q2 & H1 2025 Operating Highlights
Eagle River – Q2 & H1 2025 Operating Highlights Eagle River Operating Results Q2 2025 Q2 2024 % Change H1 2025 H1 2024 % Change Ore milled (tonnes) 48,623 52,552 (7%) 108,633 104,184 4% Head grade (g/t) 16.9 11.8 44% 16.2 13.6 19% Average mill recoveries (%) 96.7 96.3 0% 96.5 96.7 (0%) Gold producti
Slide 24: Kiena – Q2 & H1 2025 Operating Highlights
Kiena – Q2 & H1 2025 Operating Highlights Kiena Operating Results Q2 2025 Q2 2024 % Change H1 2025 H1 2024 % Change Ore milled (tonnes) 50,299 57,669 (13%) 98,989 103,013 (4%) Head grade (g/t) 10.7 13.5 (20%) 10.8 10.1 6% Average mill recoveries (%) 98.8 99.0 (0%) 98.8 98.8 0% Gold production (oz) 1
Slide 25: Consolidated Financial Highlights
Consolidated Financial Highlights In $000s, except per units and per share amounts YTD 2025 Q2 2025 Q1 2025 FY2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Q3 2023 Financial results Revenue2 396,166 208,548 187,618 558,184 182,611 146,852 127,799 100,922 333,173 102,221 69,696 Cash margin1 27
Slide 26: Operational Highlights
Operational Highlights YTD 2025 Q2 2025 Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Q3 2023 Ore milled (tonnes) Eagle River 108,633 48,623 60,010 222,526 60,358 57,984 52,552 51,632 228,777 54,669 55,153 Kiena 98,989 50,299 48,690 216,755 62,421 51,321 57,669 45,344 191,148 49,64
Slide 27: Investor Relations
TSX: WDO | OTCQX: WDOFF Investor Relations Raj Gill, Interim Chief Financial Officer Trish Moran, Vice President, Investor Relations Phone: +1 (416) 360-3743 Email: invest@wesdome.com @Wesdome Gold Mines Corporate Office 220 Bay St, Suite 1200 Toronto, ON M5J 2W4