Core Insights - Wesdome Gold Mines Ltd. reported record financial results for FY 2025, driven by strong gold prices and operational improvements, achieving a free cash flow margin of 31% and enhancing its balance sheet through strategic investments and shareholder returns [3][8]. Financial Highlights - Q4 2025 revenues reached CAD 288 million, a 58% increase year-over-year, while full-year revenues totaled CAD 914 million, up 64% from 2024 [8]. - Gross profit for Q4 2025 was CAD 185 million, a 93% increase year-over-year, and full-year gross profit exceeded CAD 569 million, more than doubling from the previous year [8]. - Net income for Q4 2025 was CAD 117 million, or CAD 0.78 per share, more than double compared to Q4 2024, with full-year net income increasing 2.5 times to CAD 349 million [8]. - EBITDA for Q4 2025 was CAD 195 million, a 70% increase from Q4 2024, and CAD 602 million for the full year, a 96% increase year-over-year [8]. Operational Highlights - Consolidated gold production in Q4 2025 was 46,638 ounces, a 6% decrease from Q4 2024, while total production for 2025 was 185,576 ounces, an 8% increase compared to 2024 [8]. - Eagle River achieved an average daily mill throughput of 70% of permitted capacity, with production costs per tonne milled in Q4 2025 at CAD 557, a 10% increase from Q4 2024 [4][14]. - Kiena produced 22,777 ounces in Q4 2025, consistent with the previous year, while total production for 2025 was 72,808 ounces, a decrease from 2024 [29][30]. Cost Metrics - Q4 2025 cash costs per ounce of gold sold increased by 30% to CAD 1,745, while full-year cash costs were CAD 1,351, a decrease from the previous year [17][35]. - All-in sustaining costs (AISC) per ounce in Q4 2025 rose by 27% to CAD 2,687, while for the full year, AISC decreased by 4% to CAD 2,021 [18][36]. Exploration and Future Outlook - Wesdome plans to conduct a 270,000-metre exploration program in 2026, with results expected to provide insights into the potential of its assets [6]. - The company anticipates producing between 180,000 and 205,000 ounces of gold in 2026, with cash costs projected between USD 1,050 and USD 1,150 per ounce [47][54]. - Significant capital expenditures of approximately CAD 205 million are planned for 2026, focusing on sustaining and growth initiatives [48][56].