Wesdome Gold Mines (TSX: WDO) is an established Canadian-based gold producer which has been producing gold for more than 30 years. Currently, the company’s principal material property is the Eagle River complex located in northwestern Ontario. Wesdome was founded in 1976 and is headquartered in Toronto, Ontario.
Valuable mining assets
The company owns mining assets and infrastructure in Val d’Or, Quebec, and the Moss Lake property located near Thunder Bay, Ontario. The principal product of the company is gold in the form of doré bars. The gold is refined under commercially competitive terms common to the industry and meets international delivery standards. Gold trades on numerous markets worldwide and, at any time, it is not difficult to ascertain the current market price. The company does not currently participate in any gold price hedging strategies, nor owns any related hedging derivatives.
Wesdome has implemented policies in the areas of health, safety, environment, and sustainability, which lay the foundation for the company’s performance in these areas across the organization. Continued growth across the company has resulted in an increased focus on environmental, social, and governance, and responsible mining practices have been incorporated into every aspect of Wesdome’s business.
Real estate properties
Principal assets of the company include the Eagle River mine, which consists of three contiguous mining leases and 442 contiguous active mining claims covering an area of 7,958 hectares. Wesdome also owns the Mishi mine that consists of 19 patented mining claims, five mining leases, and five staked claims covering an area of 3,055 hectares. Other assets owned by the company include the Eagle River mill located near Wawa, Ontario, as well as the Kiena Mining and Milling complex and exploration properties located in Val D’Or, Quebec.
At each phase of activity, from exploration and design through construction, operations, maintenance, and closure, the company focuses on delivering strong environmental performance, with the goal of mitigating impacts where possible and identifying opportunities for environmental stewardship and enhancement. The company uses a wide range of materials and consumables including water, explosives, chemicals, and fuels, during exploration, development, and operation of Wesdome’s assets. These materials are managed with a focus on ensuring human safety and protection of the environment and materials are recycled or reused, wherever practical.
Focus on continuous improvement
Continuous improvement programs at the company’s sites assist with identifying opportunities for waste reduction and material efficiencies. Waste produced at Wesdome’s operations is managed through programs that ensure proper disposal in accordance with the company’s permits and regulations.
Further, the company proactively engages with local community members, indigenous groups and stakeholders affected by the company’s activities, and makes significant efforts to be the workplace of choice by providing a safe and respectful environment based on fairness and integrity.
Overall, Wesdome engages with the company’s stakeholders in an honest and timely fashion, and actively listens and responds to stakeholder concerns and interests, with the goal of finding opportunities to enhance the company’s activities based upon the input received. This focus on local enterprise development and social welfare programs will likely serve shareholders very well.
