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Wesdome Gold Mines Ltd.
Summary
| Project: | Kiena | |
|---|---|---|
| Deposit: | Kiena | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/27/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 27-5-2020: Wesdome Gold Mines Ltd. announces a PEA report for its Kiena deposit at the Kiena project. PEA results incl. post-tax NPV (5%) of C$416M & IRR of 102%. TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or t | |
| Resources: | (Resources): 0.97Mt @ 14.5g/t Au (Ind.) & 1.12Mt @ 11.0g/t Au (Inf.) | |
| CP/QP: | [Reserve] n/a (n/a) | |
| ABSTRACT: | TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) is pleased to announce positive results from the independent Preliminary Economic Assessment (“PEA”) prepared in accordance with National Instrument 43-101 at its 100% owned Kiena Complex in Val d’Or, Quebec. All figures are stated in Canadian dollars unless otherwise stated. Mr. Duncan Middlemiss, President and CEO, commented, “We are pleased with the results of the PEA that clearly illustrates the viability to restart production at the Kiena Mine in a very short-term horizon. The PEA demonstrates a low-cost and high margin operation, with low capital requirements and a short payback period, while minimizing risks and maximizing shareholders' return. The Company is well-financed to advance the project to the next level with a cash position as of the end of the first quarter of $49.4M. This PEA is based on the Mineral Resource Estimate ('MRE') dated September 2019 and includes only those resources proximal to the mine infrastructure, specifically the A Zone, B Zone, S50, | |
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