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Wesdome Gold Mines Ltd. (March 23, 2020) would like to inform all stakeholders of its response to the current COVID-19 Pandemic. To date no employees, contractors, or consultants directly involved with Wesdome, whether at corporate or at sites, have been diagnosed with COVID-19.
Mr. Duncan Middlemiss, President and CEO stated, “These are unprecedented times and information and government actions are constantly changing. I would like to thank all employees, contractors, and stakeholders for their efforts to date in the control of this outbreak. Our vigilance will go a long way to keeping everyone safe. The Company is currently operating Eagle River with normal underground production and reduced exploration, open pit, and construction activities in order to lessen the number of people on site. We are fully invested in our social distancing protocol and by reducing people accessing the sites, we feel is a prudent approach in lessening the risk. The Company is adequately capitalized to withstand an extended period of disruption and will be actively managing this fluid situation.”
Currently the Eagle River underground operations are running on a reduced workforce with non-production activities being scaled back. The considerable exploration effort has been reduced at Eagle River by 40% due to the Company’s desire to keep the common areas of the camp less occupied to facilitate social distancing. Additionally, the mining of the Mishi Open Pit has been suspended for similar reasons.
Production activities in the first quarter of 2020 thus far have not been impacted by the COVID-19 health and safety protocols established in mid-March. However, future conditions may warrant reduced or suspended production activities which would impact on our abilities to maintain our future timelines and objectives. We are continuing to closely monitor the situation, and will provide updates as they become available.
Wesdome has adopted measures since March 12th of monitoring body temperatures and requesting a health survey of all personnel wishing to enter the Eagle River Complex or the Kiena Mine.
Furthermore, rigorous deep cleaning and disinfecting has been employed at all sites including the corporate office. A social distancing protocol is in place and schedules have been staggered to reduce the number of people in the Company’s common areas. The health and safety of our employees, contractors, vendors, and consultants is the Company’s top priority. To aid in the Company’s actions, a COVID-19 Taskforce has been created to monitor developments and set about action plans which will reduce the risk to all people directly involved with Wesdome. The safety of our employees and contractors remains our first priority.
Wesdome is on schedule to finalize the Preliminary Economic Assessment (“PEA”) for the Kiena Mine in the second quarter in 2020. Wesdome has $35.7 million in cash and cash equivalent at the beginning of 2020 and the operations at Eagle River are generating positive net cash flows to finance the exploration activities at Kiena on an ongoing basis.
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