Wesdome Reports Strong Third Quarter 2025 Financial Results

Core Insights - Wesdome Gold Mines Ltd. reported strong financial results for Q3 2025, achieving multiple operating and financial records, including a 34% free cash flow margin, driven by favorable gold prices and operational improvements [3][4][48]. Financial Highlights - Revenues for Q3 2025 reached CAD 230.3 million, a 57% increase from CAD 146.9 million in Q3 2024 [8]. - Gross profit surged by 112% year-over-year to CAD 149.0 million, with operating cash margin growing by 78% to CAD 168.4 million [7][8]. - Net income more than doubled to CAD 86.9 million, or CAD 0.58 earnings per share, compared to CAD 39.0 million in Q3 2024 [8]. - Record free cash flow of CAD 79.0 million was reported, equating to CAD 0.52 per share [8]. - As of September 30, 2025, liquidity stood at CAD 615.0 million, significantly up from CAD 273.1 million at the end of 2024 [7][8]. Operational Performance - Consolidated gold production for Q3 2025 was 50,465 ounces, a 12% increase compared to Q3 2024, marking a quarterly record for the company [7][8]. - The average realized price of gold sold in Q3 2025 was USD 3,523 per ounce, contributing to expanded margins [7][8]. - Eagle River mine produced 34,296 ounces of gold in Q3 2025, a 45% increase from 23,688 ounces in Q3 2024, driven by a 17% increase in average grade [12][16]. - Kiena mine produced 16,169 ounces in Q3 2025, a 25% decrease from 21,421 ounces in Q3 2024, primarily due to a planned reduction in grade [32][36]. Cost Metrics - Cost of sales per ounce of gold sold increased by 6% to USD 947, while all-in sustaining costs (AISC) per ounce rose by 1% to USD 1,419 [7][8]. - AISC per ounce for Eagle River decreased by 29% to USD 1,203 in Q3 2025, while Kiena's AISC increased by 71% to USD 1,899 [19][39]. Production Guidance - The company expects to meet the mid to upper range of its revised consolidated production guidance of 177,000 to 193,000 ounces for the year [50][51]. - Kiena's full-year production guidance has been adjusted to between 72,000 and 78,000 ounces due to operational challenges [50][51]. Exploration and Development - Drilling continues to expand the 6 Central Zone, confirming mineralization continuity [20][21]. - The exploration ramp development at Kiena is forecasted for breakthrough in Q1 2026, with initial stope production expected shortly thereafter [41][42].