Wesdome Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $251 million, up 9% year over year
- ➤Q3 gold production 41,287 ounces, down 18% year over year
- ➤Q3 AISC US$1,789 per ounce, up 26% year over year
- ➤2026 production and AISC guidance reaffirmed
- ➤Quarter-end liquidity $735 million, including $380 million cash
Expert Statements
Anthea Bath, President and Chief Executive Officer of Wesdome Gold Mines Ltd.
“We reiterate full-year production guidance and expect a strong fourth quarter, with both Eagle River and Kiena finishing within their respective guidance ranges, albeit below the midpoint. Higher throughput at Eagle River, additional mining fronts at Kiena and exploration success underpin our longer-term growth opportunity.”
Anthea Bath, President and Chief Executive Officer of Wesdome Gold Mines Ltd.
“At Eagle River, our fill-the-mill strategy delivered record quarterly throughput and a 19% reduction in production costs per tonne compared with Q2. Third-quarter grade was affected by lower than expected grade in one stope and incomplete mining of one sill. Key Q4 stopes are already drilled off, and high-grade ore continues to reconcile well with our reserve model, supporting our confidence in a stronger finish.”
Anthea Bath, President and Chief Executive Officer of Wesdome Gold Mines Ltd.
“At Kiena, seasonal workforce planning gaps reduced equipment utilization and productivity, delaying the mining sequence. Two higher-grade Kiena Deep stopes originally scheduled for Q3 are now planned for Q4, while lower-grade Presqu'Île development ore represented a larger share of third-quarter mill feed. We have identified the resourcing planning gaps and have a plan in place to improve execution. Positive grade reconciliation and Presqu'Île's transition to stope production further support our Q4 outlook.”
Anthea Bath, President and Chief Executive Officer of Wesdome Gold Mines Ltd.
“Nearly $220 million in year-to-date free cash flow and $735 million in quarter-end liquidity give us the capacity to advance development and exploration while continuing to return capital to shareholders.”
Toronto, Ontario--(Newsfile Corp. - November 4, 2026) - Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF) ("Wesdome" or the "Company") today announced its financial results for the three and nine months ended September 30, 2026 ("Q3 2026" and "YTD 2026"). Preliminary operating results for Q3 2026 were disclosed in the Company's press release dated October 13, 2026. Management will host a conference call tomorrow, November 5, 2026 at 10:00 a.m. ET to discuss its results. All amounts are expressed in Canadian dollars unless otherwise indicated.
Q3 2026 Highlights * Strong safety performance: High Potential Incident Frequency Rate declined 63% year-over-year to 0.79, reflecting the strong commitment to safety across the organization. * Production and costs: Consolidated gold production for the third quarter was 41,287 ounces, an 18% decrease compared to Q3 2025. In Q3 2026, cash costs per ounce of gold sold(1) increased by 36% to US$1,287, and all-in sustaining costs per ounce sold(1) increased 26% to US$1,789 compared to Q3 2025. * Revenue growth: Consolidated Q3 2026 revenue(2) increased by 9% to $251 million compared to Q3 2025. The average realized price of gold sold was US$4,279 per ounce in Q3 2026. * Gross profit and cash margin growth: In Q3 2026, gross profit increased by 4% year-over-year to $155 million and operating cash margin(1) grew by 4% to $175 million. * Net income: Q3 2026 net income increased to $89.7 million, or $0.62 earnings per share, an increase of $2.8 million compared to Q3 2025. * EBITDA(1): EBITDA(1) was $157 million in Q3 2026, a 5% increase relative to Q3 2025. * Cash flow(1): Q3 2026 net cash from operating activities was $102 million, or $0.71 per share(3), while free cash flow(1) was $52 million, or $0.36 per share. * Strong liquidity position: As at September 30, 2026, the Company had liquidity of $735 million, including $380 million in cash and US$250 million of fully undrawn capacity available under its revolving credit facility.
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