Wesdome Q3 Gold Output Falls 18% to 41,287 Ounces as Eagle River Grades Slide - the deep dive

AI desk brief

Wesdome Q3 gold output fell 18% y/y to 41,287 oz as Eagle River grades dropped sharply to 10.1 g/t from 15.3 g/t, more than offsetting higher throughput at both mines. Q3 sales were 41,800 oz at a realized price of US$4,279/oz, up 21% y/y, while the company remains debt free with C$377m in cash and still expects Q4 to be its strongest quarter.

Year-to-date production of 130,414 oz leaves Wesdome needing about 49,600 oz in Q4 to reach the low end of its 2026 guidance range of 180,000-205,000 oz, with management now expecting to finish below the midpoint. Eagle River is the key pressure point: year-to-date grades are running at 10.7 g/t versus full-year guidance of 13.0-14.0 g/t, though management says grade variability is expected during the transition to higher throughput.