Wesdome Gold Mines (TSX: WDO) has released their operating results for the third quarter of 2025, headlined by record gold production of 50,465 ounces of gold, which represents a 12% increase on a year over year basis, and a larger 17% bump quarter over quarter.
Q3 production improved from 45,109 ounces in the year ago period, with that growth attributed to Wesdome’s Eagle River operation. Eagle River saw a total of 34,296 ounces of gold production over the course of the quarter at average grades of 15.3 g/t gold. Grades were up 17% from 13.1 g/t, while production jumped 45%, from 23,688 ounces.
Kiena saw results move in the opposite direction, with Q3 production of 16,169 ounces resulting in a 25% decline from the year ago period, with average grades dropping to 10.2 g/t, down from 13.1 g/t last year.
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“As previously indicated, Kiena conducted a longer than planned hoist shutdown in July, which resulted in more than two weeks without mill feed. While forecasts at the time suggested that the shortfall could be recovered, inconsistent execution together with limited operational flexibility continued to impact performance through August and September,” commented Anthea Bath, CEO of Wesdome. Q4 2025 is expected to be the strongest quarter of the year for Kiena, with production expected to come in at the lower end of guidance. Eagle River comparatively is expected to deliver at the high end of full year guidance.
Gold sales for the quarter totaled 47,400 ounces.
Wesdome also indicated that as of the end of September it had assembled a cash position of $266 million, as well as total liquidity in excess of $600 million as a result of ‘substantial’ free cash flow driven by high gold prices. As a result, a normal course issuer bid has been launched by the company which will see the company repurchase up to 2% of the public float over the next 12 months, which equates to roughly 3.0 million shares.
Full financial results are slated to be released November 4 after the close of markets.
Wesdome Gold Mines last traded at $21.54 on the TSX.
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