Wesdome Secures Regulatory Approval for Kiena's Presqu'ile Zone; Production to Commence Ahead of 2026 Schedule
Early Presqu'ile approval de-risks Kiena’s 2026 production profile as management pivots to in-house operational control.
The most recent news release (February 3, 2026) announces that Wesdome has received the updated Certificate of Authorization and a mine lease for the Presqu'ile Zone at its Kiena Mine in Val-d'Or, Québec. Crucially, the company states that production from this zone is expected to commence ahead of the 2026 schedule. Once fully ramped up, the zone is projected to contribute an additional 250 to 400 tonnes per day (tpd) of ore to the Kiena mill. This incremental feed is described as a "key component" in achieving the company's 2026 production guidance and its overarching "fill-the-mill" strategy.
This news is materially positive for three reasons: - Operational De-risking: During the Q3 2025 earnings call (November 5, 2025), CEO Anthea Bath explicitly identified the Presqu'ile mining permit as a risk for Q1 2026. Securing the lease and authorization by early February, with production starting "ahead of schedule," effectively removes this regulatory bottleneck. - Resource Transition: Management noted in late 2025 that Presqu'ile had been underperforming due to contractor execution issues. This news confirms the move toward in-house mining, which management expects to improve productivity and lower costs per meter. - Guidance Support: Kiena has struggled with consistency, requiring multiple guidance revisions in 2025 (dropping from an initial 90k-100k oz to a final 72k-78k oz). The acceleration of Presqu'ile provides a needed buffer for the 2026 consolidated production target of 195,000 to 220,000 ounces.
Wesdome is a mid-tier Canadian gold producer with two core assets: - Eagle River (Ontario): The company’s powerhouse. It has consistently exceeded expectations, with head grades recently reaching 16.9 g/t. It is the primary driver of the company's $266M cash pile. - Kiena Mine (Quebec): A high-grade underground mine that restarted in 2021. While high-grade, it has faced mechanical and labor issues (hoist failure in July 2025). The "fill-the-mill" strategy aims to use the excess 2,040 tpd mill capacity by feeding it ore from satellite zones like Presqu'ile and Dubuisson.