Wesdome Delivers Record Annual Gold Production and Provides 2026 Guidance

Core Viewpoint - Wesdome Gold Mines Ltd. anticipates a consolidated gold production of 180,000 to 205,000 ounces in 2026, driven by its fill-the-mill strategy and upcoming mineral reserve updates [1][8] Group 1: 2025 Operating Results - In Q4 2025, total ore milled reached 147,270 tonnes, an increase from 122,779 tonnes in Q4 2024 [2] - Gold production for 2025 totaled 185,575 ounces, up from 172,034 ounces in 2024, with Q4 production at 46,638 ounces [2] - The company reported a nearly tripled cash position year-over-year, exceeding $350 million, enhancing financial flexibility for 2026 [2][3] Group 2: 2026 Guidance - Gold production guidance for Eagle River is set at 105,000 to 115,000 ounces, while Kiena is expected to produce 75,000 to 90,000 ounces, marking a 13% increase over 2025 [6][8] - Average processed grades are projected at 13.0 to 14.0 g/t for Eagle River and 8.0 to 9.5 g/t for Kiena [6][8] - Total capital investment for 2026 is estimated at $205 million, with $110 million for sustaining capital and $95 million for growth capital [10] Group 3: Exploration and Growth Initiatives - The company plans a $55 million exploration budget for 2026, focusing on step-out drilling to enhance resource growth [4][15] - Key exploration targets include Kiena Deep and the Presqu'île Zone, with the latter expected to contribute significantly to mill feed once permitted [16][19] - The exploration program aims to replace and grow reserves while testing near-mine growth opportunities [15][19] Group 4: Financial Outlook - Wesdome is positioned to generate significant free cash flow in 2026, supported by higher production and expanding margins [11] - A $100 per ounce change in gold prices is estimated to impact annual free cash flow by approximately $20 million [11] - The company has repurchased 706,100 shares for a total of $14.4 million since initiating its share buyback program [6][11] Group 5: Technical Reports and Updates - Updated technical reports are expected to be released in June 2026, summarizing production and operating costs, along with long-term potential insights [14] - The reports will include an updated Mineral Reserve and Resource Statement as of December 31, 2025 [14]