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Wesdome winds back further at Wawa due to COVID-19 measures

Wesdome Gold Mines has further reduced operations at its Eagle River complex in Wawa, Ontario, to allow for enhanced physical distancing to limit the potential spread of COVID-19 – but has maintained production guidance.
Wesdome winds back further at Wawa due to COVID-19 measures Wesdome winds back further at Wawa due to COVID-19 measures Wesdome winds back further at Wawa due to COVID-19 measures Wesdome winds back further at Wawa due to COVID-19 measures Wesdome winds back further at Wawa due to COVID-19 measures

Wesdome Gold Mines has suspended the Mishi openpit at its Eagle River complex in Ontario

Staff reporter

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The company had reduced surface activities in line with COVID-19 restrictions on March 23 but said yesterday it had suspended the Mishi openpit, exploration and construction work "until the resumption of normal activities is deemed safe and appropriate". 

CEO Duncan Middlemiss said the company had also significantly reduced crew numbers at the high-grade underground Eagle River mine.

Based on results to date and short-term forecasts, the company was maintaining 2020 production guidance of 90,000-100,000 ounces.

The complex had produced 91,688oz in 2019, up 28% from the 71,625oz the year prior.

Across the border in Quebec, where the government has extended the closure of non-essential services to May 4, Wesdome said drilling, development and construction activities at its Kiena complex would remain suspended accordingly.

Middlemiss said there had been no suspected COVID-19 cases at the company's operations or corporate offices to date.

Wesdome shares (TSX: WDO) have ranged between C$3.97-$11.07 over the past year and closed up 2.9% yesterday to $8.22 to value it at $1.1 billion (US$0.78 billion).