Key Points – Wesdome posted a record first quarter with revenue of CAD 300 million, net income of CAD 119 million, and free cash flow of CAD 126 million, while ending the period with more than CAD 430 million in cash and no debt. – The company reaffirmed full-year production and…
st guidance, though first-quarter all-in sustaining costs were US$1,707 per ounce and management expects costs to peak in Q2 before easing later in the year. – Operations at both mines are improving: Eagle River is targeting higher throughput toward 1,000 tonnes per day, while Kiena is ramping up Presqu’ile and other developments, with stronger production expected in the second half of 2026. Wesdome Gold Mines (TSE:WDO) reported what management described as a record first quarter, supported by strong gold production and prices, while reaffirming its full-year production and cost guidance
On the company’s earnings call for the three months ended March 31, 2026, President and CEO Anthea Bath said the quarter was a “company best” for revenue, net income, EBITDA and operating cash flow. Wesdome generated CAD 126 million in free cash flow and ended the period with more than CAD 430 million in cash, even after repurchasing nearly CAD 50 million of its own shares during the quarter. Chief Financial Officer Phil Yee said first-quarter revenue totaled CAD 300 million, with net income of CAD 119 million, or CAD 0.79 per share.
EBITDA was CAD 212 million, operating cash flow was CAD 162 million and free cash flow was CAD 126 million, or CAD 0.84 per share. Yee said free cash flow represented 42% of revenue, which he described as among the highest levels in the gold sector. Costs and guidance Wesdome’s consolidated all-in sustaining costs were US$1,707 per ounce of gold sold in the quarter.