For a company that hasn’t had to raise equity since 2006 and whose last financing was a $7 million convertible debenture in 2012, which isn’t due until 2017, Wesdome Gold Mines (TSX: WDO) has performed fairly well since the recession struck in 2008.
The company’s 100%-owned Eagle River underground gold mine in Ontario, which started production in January 1996 and still has a mine life of five years stretching out ahead of it, also happens to have the third-highest reserve grade (10.10 g/t Au) of all underground gold mines in North America, Wesdome says.
There seems to be no shortage of organic growth opportunities at Eagle River, too. Late last year, Wesdome discovered the No. 7 and 300 zones, parallel zone structures that are open laterally and at depth and represent exploration targets and internal expansion potential for many more years to come, the company’s management believes.
Read the complete article at NorthernMiner.com/news/wesdome