Wesdome shares fall after missing analysts’ Q2 forecasts

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The company also faced issues at its Kiena mine, in Val d’Or, Que, where production restarted this year after an eight-year hiatus. Delayed delivery of the mine’s electrical and underground equipment due to global supply challenges has pushed the mine’s ramp up behind by about three –to four months, Wesdome said.  

Stockpiled ore processed from the company’s Mishi mine in Ontario, which was mined out in 2021, added 570 oz. gold to the total production.  

“During quarter two, there were a number of one-time operational issues that impacted production,” the company’s CEO Duncan Middlemiss said in a press release. “At Eagle River, production was lower than budget due to a manufacturing defect on a new hoist rope, resulting in two weeks of lower productivity as ore was trucked to surface.”  

He added that a delayed replacement of a leach tank at the project’s mill impacted nearly a week’s production. Once…

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