Wesdome Gold plans low-cost mine at Kiena

Wesdome Gold Mines (TSX: WDO) has released a preliminary economic assessment (PEA) for its wholly owned Kiena mine complex, 15 km northwest of Val-d’Or and 100 km east of Rouyn-Noranda in Quebec. The PEA estimates a mine life of eight years producing an average of 85,931 oz. gold annually at cash operating costs of US$374 per oz. and all-in sustaining costs (AISCs) of US$512 per ounce. The early-stage study forecast an initial capex of $35 million and a payback period of 1.7 years. At a base case gold price of US$1,532 per oz., the study demonstrated an after-tax net present value at a 5% discount rate of $416 million and an internal rate of return of 102%.