Wesdome Gold Mines Ltd. reported consolidated second-quarter 2026 revenue of $267.6 million, a 28% increase over the $208.5 million generated in Q2 2025. Net income reached $94.0 million, or $0.64 per share, compared to $82.7 million in the prior-year period.

Consolidated gold production for the quarter was 43,824 ounces, bringing total output for the first half of 2026 to 89,127 ounces. Wesdome reaffirmed its full-year production guidance of 180,000 to 205,000 ounces, with a midpoint of 192,500 ounces. Gross profit rose 22% year-over-year to $161.2 million, and EBITDA increased 23% to $169.7 million.

Production figures included 21,798 ounces from the Eagle River mine in Ontario and 22,026 ounces from the Kiena operation in Quebec. Kiena’s output reflected a 28% year-over-year increase, supported by a 24% rise in throughput and higher grades from Kiena Deep. During the quarter, a new underground ramp at Kiena reached surface, establishing continuous access for material and equipment movement.

“Kiena's performance this quarter was a genuine inflection point. Production increased 28% year over year with unit costs in line with plan.”

— Anthea Bath, President and Chief Executive Officer

At Eagle River, second-quarter production decreased 15% to 21,798 ounces, which the company noted was in line with its plan to blend Global Model ore as part of a fill-the-mill strategy that increased tonnes processed by 49%.

Wesdome ended June 30, 2026, with $391 million in cash and total liquidity of $746 million, including an undrawn US$250 million revolving credit facility. Through the second quarter, the company repurchased and cancelled 3.2 million common shares for approximately $82 million. On June 24, 2026, Wesdome expanded its normal course issuer bid by authorizing the purchase of an incremental 3.0 million shares, bringing the total intended repurchase program to approximately 9.0 million shares, or 6% of its public float.

Assays from drilling programs at Eagle River's 800 Zone, 700 Zone, and surface targets at North Name Lake and North Diorite are expected to be reported in the third and fourth quarters of 2026.

Read the full announcement: Wesdome Reports Strong Second Quarter 2026 Results and Reaffirms Full-Year Production and Cost Guidance