Wesdome Announces Second Quarter 2026 Production Results; On Track to Achieve Full-Year Consolidated Production Guidance
Wesdome’s Kiena output rose 28% year-over-year, offsetting an Eagle River grade decline as Presqu’île stope production approaches and full-year guidance remains intact.
Wesdome Gold Mines Ltd. (WDO) reported second-quarter 2026 consolidated gold production of 43,823 oz, a 2% increase year-over-year, while total gold sold decreased 4% to 44,100 oz. Year-to-date 2026 production reached 89,126 oz, up 1% from the prior year, with 89,700 oz sold, a 2% decline.
At the Eagle River mine, ore milled rose 49% to 72,439 tonnes, but head grade fell 42% to 9.7 g/t Au, resulting in 21,797 oz produced, a 15% drop year-over-year. Year-to-date production at Eagle River was 49,644 oz, down 9%. The lower grades at Lower Eagle River reflect planned stope sequencing, with grades expected to improve in the second half of 2026.
Conversely, Kiena mine production increased 28% year-over-year to 22,026 oz in the second quarter. Ore milled rose 24% to 62,515 tonnes, and head grade increased 4% to 11.1 g/t Au. Year-to-date production at Kiena was 39,483 oz, up 17%. The first Presqu’île stope at Kiena is expected to enter production later in the week of July 13, 2026, marking an expansion beyond Kiena Deep.
Wesdome reaffirmed its full-year consolidated production guidance of 180,000–205,000 oz. The company also announced a capital return strategy, noting that its Normal Course Issuer Bid (NCIB) has repurchased more than 4% of outstanding shares since November. Additionally, a quarterly cash dividend was initiated, as previously announced on June 24.
Wesdome Gold Mines Ltd. will release its Q2 2026 financial results on August 13, 2026, followed by a conference call on August 14.
Wesdome Gold Mines Ltd. (WDO) is expected to release production results and reaffirm its guidance, a non-market-moving event that does not constitute an earnings release. The company reported a slight timing miss on the Presqu’île stope, which is considered minor and not material.
References to capital returns, including a buyback exceeding 4% and the initiation of a dividend, merely reiterate announcements made on June 24 and do not represent new news. There is no change to the 2026 guidance, with year-to-date output aligning with the plan.
Wesdome Gold Mines Ltd. (WDO) is a Canadian gold producer operating two 100% owned underground mines: Eagle River in Ontario and Kiena in Quebec. Both facilities are currently in production and are supported by multi-year organic growth plans.
The Eagle River mine features high-grade Archean lode gold and a permitted mill with a capacity of approximately 1,200 tonnes per day, having produced more than 2 million ounces historically. The Kiena mine, located in the Abitibi belt, is a polymetallic gold operation characterized by a complex structure with numerous zones, including Kiena Deep, Presqu’île, and Dubuisson. It operates a permitted mill with a capacity of 2,040 tonnes per day. The company holds significant land packages and maintains aggressive exploration programs.