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TORONTO, March 12, 2024 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Firm”) at the moment pronounces its outcomes for the fourth quarter (“This autumn 2023”) and yr ended December 31, 2023. The Firm can also be offering its up to date Mineral Reserve and Useful resource statements. Preliminary working outcomes for the fourth quarter and yr ended 2023 in addition to multi-year manufacturing and working steerage had been disclosed on January 15, 2024. Administration will host a convention name tomorrow, Wednesday March 13 at 10:00 a.m. Jap time to debate the outcomes.
All figures are expressed in Canadian {dollars} until in any other case indicated.
Fourth Quarter and Full Yr 2023 Highlights
-
Gold manufacturing within the fourth quarter was 36,216 ounces at money prices of $1,451 per ounce1 (US$1,065) and all-in sustaining prices (“AISC”) of $2,082 per ounce1 (US$1,529).
-
For the total yr 2023, gold manufacturing was 123,336 ounces at money prices of $1,579 per ounce1 (US$1,170) and all-in sustaining prices (“AISC”) of $2,231 per ounce1 (US$1,653). Manufacturing and prices each examine favourably relative to 2023 steerage ranges.
-
Money margins1 for the fourth quarter and full yr 2023 was $47.6 million and $132.9 million respectively, representing a 80% and 39% enhance relative to corresponding durations in 2022 primarily resulting from a better Canadian greenback realized gold value and enhance in ounces offered.
-
Internet revenue and adjusted internet revenue for the fourth quarter of 2023 of $2.4 million ($0.02 per share). The quarter included a non-cash deferred tax affect of $8.6 million however was nonetheless $5.9 million larger than the corresponding interval in 2022.
-
Working money movement within the fourth quarter and full yr 2023 of $37.2 million ($0.25 per share) and $101.4 million ($0.69 per share) was 262% and 55% larger than the corresponding durations in 2022 primarily as a result of larger money margin.
-
Free money movement within the fourth quarter and full yr 2023 was $39.4 million and $83.8 million larger than the corresponding durations in 2022 primarily as a result of larger money margin and total lower in capital expenditures.
-
Obtainable liquidity of $152.6 million, together with $41.4 million in money and $111.0 million of undrawn availability underneath the Firm’s revolving credit score facility. Money internet of the revolver elevated by $24.2 million in 2023.
Anthea Tub, President and CEO, commented, “We closed 2023 with a stronger stability sheet and carried out properly relative to our 2023 working targets. With the discharge of our multi-year steerage earlier this yr, we at the moment are targeted on delivering considerably larger manufacturing and free money movement in 2024 and 2025. At Kiena, growth continues to advance, efficiently addressing the challenges of mining in schist materials. Consequently, we look ahead to accessing and processing higher-grade materials within the second quarter. At Eagle River, we’re evaluating potential initiatives to optimize the operation and cut back prices whereas advancing growth in direction of the 300 Zone at depth.
Accompanying our outcomes, we introduced our Mineral Reserves and Sources for year-ended 2023, together with a 12% enhance in complete gold Mineral Reserves as in comparison with year-end 2022. The additions had been pushed primarily by the preliminary Mineral Reserve at Presqu’île Zone together with additions to Kiena Deep, and Zone 6 Central at Eagle River. Now we have an formidable exploration program in 2024, which we anticipate to yield prime quality useful resource additions and new discoveries, evidenced most just lately by the fast development of the Falcon 311 Zone at Eagle River.
As we method a free money movement inflection level this yr, we stay devoted to assembly our efficiency targets, and pursuing strategic actions that drive excessive return development within the jurisdictions during which we function.”
Monetary and Working Highlights
A abstract of the Firm’s consolidated monetary and working outcomes for the twelve months ended December 31, 2023 are offered under:
(in hundreds of Canadian {dollars}, until in any other case indicated) |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
Monetary Outcomes |
|
|
|
|
||||
|
|
|
|
|
||||
Revenues |
102,221 |
|
75,035 |
|
333,173 |
|
265,483 |
|
Value of gross sales |
78,506 |
|
61,997 |
|
295,422 |
|
214,371 |
|
Money margin1 |
47,576 |
|
26,466 |
|
132,939 |
|
95,674 |
|
EBITDA1 |
38,256 |
|
21,309 |
|
99,333 |
|
55,617 |
|
Internet loss attributable to shareholders |
2,420 |
|
(3,527) |
|
(6,187) |
|
(14,706) |
|
Internet revenue ($/sh) |
0.02 |
|
(0.02) |
|
(0.04) |
|
(0.10) |
|
Adjusted attributable internet loss1 |
2,420 |
|
(3,527) |
|
(1,910) |
|
(5,856) |
|
Adjusted attributable internet loss1 ($/sh) |
0.02 |
|
(0.02) |
|
(0.01) |
|
(0.04) |
|
Working money movement |
37,176 |
|
10,267 |
|
101,351 |
|
65,206 |
|
Working money movement ($/sh) |
0.25 |
|
0.07 |
|
0.69 |
|
0.46 |
|
Money movement from financing actions |
(1,946) |
|
37,307 |
|
5,421 |
|
57,435 |
|
Money movement from investing actions |
(25,441) |
|
(39,130) |
|
(98,586) |
|
(146,220) |
|
Free money movement1 |
7,799 |
|
(31,609) |
|
(6,405) |
|
(90,174) |
|
Free money movement1 ($/sh) |
0.05 |
|
(0.22) |
|
(0.04) |
|
(0.63) |
|
|
|
|
|
|
||||
Working Outcomes |
|
|
|
|
||||
Gold produced (oz) |
36,216 |
|
35,116 |
|
123,336 |
|
110,850 |
|
Gold offered (oz) |
37,620 |
|
31,500 |
|
126,620 |
|
113,000 |
|
|
|
|
|
|
||||
Common realized gold value1 ($/oz) |
2,715 |
|
2,380 |
|
2,629 |
|
2,347 |
|
Common realized gold value1 (US$/oz) |
1,994 |
|
1,753 |
|
1,948 |
|
1,804 |
|
|
|
|
|
|
||||
Money prices1 ($/oz) |
1,451 |
|
1,540 |
|
1,579 |
|
1,500 |
|
All-in sustaining prices1 ($/oz) |
2,082 |
|
2,136 |
|
2,231 |
|
2,020 |
|
All-in sustaining prices1 (US$/oz) |
1,529 |
|
1,573 |
|
1,653 |
|
1,552 |
|
|
|
|
|
|
||||
Monetary Place |
|
|
|
|
||||
Money and money equivalents |
41,371 |
|
33,185 |
|
41,371 |
|
33,185 |
|
Working capital |
(6,894) |
|
(38,044) |
|
(6,894) |
|
(38,044) |
|
Complete property |
618,956 |
|
619,127 |
|
618,956 |
|
619,127 |
|
Present liabilities |
89,115 |
|
115,591 |
|
89,115 |
|
115,591 |
|
Complete liabilities |
191,656 |
|
220,608 |
|
191,656 |
|
220,608 |
|
|
|
|
|
|
Notes:
-
Consult with the part entitled “Non-IFRS Efficiency Measures” for the reconciliation of those non-IFRS measurements to the monetary statements
Eagle River, Ontario
|
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
|
|
|
|
|
Ore milled (tonnes) |
|
|
|
|
Eagle River |
54,669 |
58,306 |
222,627 |
223,734 |
Mishi |
– |
– |
6,150 |
23,153 |
Complete Ore Milled |
54,669 |
58,306 |
228,777 |
246,887 |
|
|
|
|
|
Head grade (grams per tonne, “g/t”) |
|
|
|
|
Eagle River |
14.1 |
14.0 |
12.6 |
11.5 |
Mishi |
– |
– |
2.3 |
3.2 |
Complete head grade |
14.1 |
14.0 |
12.4 |
10.7 |
|
|
|
|
|
Recoveries (%) |
|
|
|
|
Eagle River |
97.0 |
97.4 |
96.9 |
96.9 |
Mishi |
– |
– |
72.5 |
83.5 |
Complete Gold restoration |
97.0 |
97.4 |
96.7 |
96.5 |
|
|
|
|
|
Gold manufacturing (ounces) |
|
|
|
|
Eagle River |
24,072 |
25,502 |
87,467 |
79,997 |
Mishi |
0 |
0 |
332 |
2,005 |
Complete Gold Manufacturing |
24,072 |
25,502 |
87,799 |
82,002 |
|
|
|
|
|
Manufacturing offered (ounces) |
25,600 |
21,650 |
91,700 |
79,250 |
|
|
|
|
|
Manufacturing prices per tonne milled1 |
526 |
515 |
502 |
436 |
|
|
|
|
|
Money margin1 ($/oz) |
1,462 |
1,083 |
1,275 |
998 |
Money prices1 ($/oz) |
1,261 |
1,302 |
1,347 |
1,356 |
All-in sustaining prices1 ($/oz) |
1,902 |
2,039 |
2,001 |
2,003 |
|
|
|
|
|
For the three months ended December 31, 2023 and 2022, Eagle River produced 24,072 ounces and 25,502 ounces, respectively, which displays a lower of 6% resulting from a lower in throughput at Eagle River as Mishi stockpiles had been depleted and all ore was sourced from the Eagle River underground subsequent to the primary quarter of 2023. Throughout the fourth quarter of 2023, money prices had been $1,261 (US$926) per ounce of gold offered whereas all-in sustaining prices had been $1,902 (US$1,397) per ounce of gold offered.
For the total yr 2023 and 2022, Eagle River produced 87,799 ounces and 82,002 respectively, which displays enhance in head grade, offset partly by decrease throughput as Mishi stockpiles had been depleted. The 2023 Eagle River head grade of 12.4 g/t is within the larger vary of steerage resulting from processing further high-grade ore from the Falcon Zone mixed with optimistic reconciliation from the 300 Zone. Throughout the full yr 2023, AISC of $2,001 (US$1,483) per ounce of gold offered was corresponding to $2,003 (US$1,539) in 2022, reflecting larger working prices and sustaining capital expenditure offset by larger ounces offered.
In 2024, Eagle River is anticipated to provide 80,000 to 90,000 ounces at money prices of $1,275 to $1,425 per ounce and all-in sustaining prices of $2,050 to $2,250 (US$1,550 to US$1,700) per ounce. Whereas manufacturing ranges are in-line with the prior yr, contribution of tonnes and ounces is anticipated to shift away from 720F Falcon Zone and in direction of the upper grade 300 Zone at depth.
Kiena, Quebec
|
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
|
|
|
|
|
Ore milled (tonnes) |
49,649 |
51,419 |
191,148 |
115,171 |
|
|
|
|
|
Head grade (grams per tonne, “g/t”) |
7.7 |
5.9 |
5.9 |
7.9 |
|
|
|
|
|
Recoveries (%) |
98.5 |
98.1 |
98.3 |
98.3 |
|
|
|
|
|
Gold manufacturing (ounces) |
12,144 |
9,614 |
35,537 |
28,848 |
|
|
|
|
|
Manufacturing offered (ounces) |
12,020 |
9,850 |
34,920 |
33,750 |
|
|
|
|
|
Manufacturing prices per tonne milled1 |
417 |
352 |
405 |
518 |
|
|
|
|
|
Money margin1 ($/oz) |
845 |
308 |
460 |
492 |
Money prices1 ($/oz) |
1,854 |
2,063 |
2,189 |
1,839 |
All-in sustaining prices1 ($/oz) |
2,466 |
2,348 |
2,834 |
2,059 |
|
|
|
|
|
For the three months ended December 31, 2023 and 2022, Kiena produced 12,144 ounces and 9,614 ounces respectively, reflecting larger grade processed. Throughout the fourth quarter of 2023, money prices had been $1,854 (US$1,361) per ounce of gold offered whereas all-in sustaining prices had been $2,466 (US$1,811) per ounce.
For the total yr 2023 and 2022, Kiena produced 35,537 ounces and 28,848 ounces respectively, reflecting extra tonnes processed, offset partially by decrease grade. The 2023 Kiena head grade of 5.9 g/t is above the 2023 Kiena steerage of three.7 – 4.7 g/t, resulting from an total optimistic reconciliation of recovered diluted materials from earlier mining, and a better proportion of ore sourced from the upper grade Kiena Deep. Throughout the full yr 2023, AISC of $2,834 (US$2,100) per ounce of gold offered was larger in comparison with $2,059 (US$1,582) in 2022, reflecting the inclusion of capital expenditures beforehand labeled as Development capital after the declaration of business manufacturing on December 1, 2022. Please seek advice from the Firm’s administration’s dialogue & evaluation dated March 12, 2024 for an in depth description of development capital and sustaining capital.
In 2024, Kiena is anticipated to provide 80,000 to 90,000 ounces at money prices of $875 to $975 per ounce and all-in sustaining prices of $1,475 to $1,625 (US$1,100 to US$1,225) per ounce. Greater annual manufacturing ranges mirror declining manufacturing contribution from the Martin Zone relative to larger grade ore from the Kiena Deep 129L horizon. General growth efficiency subsequent to quarter finish has met inner expectations, with larger grade ore anticipated to be processed within the second quarter.
Up to date Mineral Reserve and Sources for Yr-Finish 2023
-
At December 31, 2023, Wesdome’s mixed confirmed and possible mineral reserves totalled 1.1 million ounces (2.8 million tonnes grading 12.7 grams per tonne (“g/t”) gold); mixed measured and indicated mineral assets (unique of reserves) had been 327 thousand ounces (1.3 million tonnes grading 7.8 g/t gold); and mixed inferred mineral assets had been 808 thousand ounces (3.8 million tonnes grading 6.7 g/t gold).
-
Cutoff grade calculations for assets mirror a rise within the gold value assumption to US$1,700 per ounce (from US$1,500 beforehand) and a barely weaker Canadian greenback assumption of 1.32 (from 1.30 beforehand). The gold value assumption used for reserve calculations stays unchanged at US$1,400 per ounce. Modifications to the mineral assets and reserves methodology included making use of extra conservative estimation parameters and optimized interpolation strategies at each Eagle and Kiena.
-
Reserves and Useful resource estimates at each websites mirror diminished exploration spend in 2023. Drilling was due to this fact targeted on enhancing geometric understanding of orebodies and conversion of assets to Measured and Indicated classes at each operations.
-
The drilling program in 2024 has been doubled in comparison with 2023 to roughly $30 million, or 185,000m throughout underground delineation and exploration, in addition to floor drilling. This system will goal to extend reserves and assets adjoining to mine infrastructure and to check conceptual targets.
The Firm’s gold mineral reserves efficient December 31, 2023 are set out within the desk under, and are in contrast with the gold mineral reserves for the prior corresponding interval.
|
2023 Reserves |
2022 Reserves |
||||
|
Tonnes |
Grade |
Ounces |
Tonnes |
Grade |
Ounces |
|
(000) |
(g/t Au) |
(000) |
(000) |
(g/t Au) |
(000) |
Eagle River |
|
|
|
|
|
|
Confirmed |
247 |
20.43 |
162 |
139 |
14.10 |
63 |
Possible |
452 |
15.94 |
232 |
614 |
16.70 |
331 |
Stockpile & Stock |
17 |
11.27 |
6 |
9 |
22.20 |
6 |
Complete |
716 |
17.38 |
400 |
762 |
16.33 |
400 |
|
|
|
|
|
|
|
Kiena |
|
|
|
|
|
|
Confirmed |
62 |
9.57 |
19 |
53 |
8.49 |
14 |
Possible |
1,995 |
11.08 |
711 |
1,605 |
11.47 |
592 |
Stockpile & Stock |
4 |
6.94 |
1 |
– |
– |
– |
Complete |
2,061 |
11.03 |
731 |
1,658 |
11.38 |
606 |
|
|
|
|
|
|
|
Wesdome |
|
|
|
|
|
|
Confirmed |
309 |
18.25 |
182 |
192 |
12.59 |
78 |
Possible |
2,447 |
11.98 |
943 |
2,219 |
12.93 |
923 |
Stockpile & Stock |
21 |
10.41 |
7 |
9 |
22.23 |
6 |
Complete |
2,778 |
12.67 |
1,131 |
2,412 |
12.98 |
1,007 |
|
|
|
|
|
|
|
Observe:
-
Mineral Reserves are reported above 4.01 g/t cut-off grade for Kiena Deep, 3.35g/t cut-off grade for Presqu’île and 6.58 g/t for Eagle River.
-
Mineral Reserves demonstrated financial viability with the next parameters:
-
A gold value of $1,848 (US$1,400) per ounce for the Reserves, with a USD:CAD trade price of 1.32.
-
The minimal mining width used at Kiena is 2.1m and Eagle River is 1.5m.
-
Exterior dilution at Kiena diverse from 0.25m to 2.0m for stope partitions relying on the host rock sort. At Eagle River, a further 0.5m to 0.75m is exterior to the footwall and hanging wall stopes.
-
A dilution grade is used outdoors the vein solely at Eagle River at 0.16g/t.
-
A mining restoration issue 90% is utilized at Kiena and 95% at Eagle River.
-
The whole price per tonne at Kiena is $234/t and $370/t at Eagle River.
-
97% Mill restoration for Martin Zone is 97% and 98.3% for the Kiena Deep Zones. At Eagle River, mill restoration is 97.0%.
-
A bulk density issue of two.8 tonnes per cubic m (t/m3) at Kiena and a couple of.7 (t/m3) at Eagle River.
-
-
The Kiena Deep Zone incorporates, A, A1, A2, H1ZA, BZA1, BZA2 and Sneak lenses.
-
At Kiena, stopes together with 50% or extra of Measured Sources had been labeled as a Confirmed Reserves. At Eagle River, Confirmed and Possible reserves are primarily based on the block mannequin classification.
-
Mineral Reserves are labeled and have been estimated in accordance with CIM Definition Requirements for Mineral Sources and Mineral Reserves (the “CIM Definition Requirements”, adopted by CIM Council on Might 10, 2014).
-
Mineral Reserves have been depleted for mining as of December 31, 2023.
-
Rounding as required by reporting pointers might end in obvious summation variations between tonnes, grade, and metallic content material.
The Firm’s gold mineral assets efficient December 31, 2023 are set out within the desk under, and are in contrast with the gold mineral assets for the prior corresponding interval.
|
2023 Sources |
2022 Sources |
||||
|
Tonnes |
Grade |
Ounces |
Tonnes |
Grade |
Ounces |
|
(000) |
(g/t Au) |
(000) |
(000) |
(g/t Au) |
(000) |
Eagle River |
|
|
|
|
|
|
Measured |
201 |
10.8 |
70 |
176 |
14.2 |
80 |
Indicated |
570 |
9.6 |
176 |
290 |
11.3 |
106 |
Complete M&I |
771 |
9.9 |
246 |
466 |
12.4 |
186 |
Inferred |
2,858 |
3.8 |
349 |
2,883 |
4.4 |
402 |
|
|
|
|
|
|
|
Kiena |
|
|
|
|
|
|
Measured |
52 |
7.0 |
12 |
45 |
7.8 |
11 |
Indicated |
472 |
4.6 |
70 |
926 |
5.1 |
153 |
Complete M&I |
525 |
4.8 |
81 |
971 |
5.3 |
164 |
Inferred |
3,213 |
5.6 |
579 |
3,498 |
5.9 |
668 |
|
|
|
|
|
|
|
Wesdome |
|
|
|
|
|
|
Measured |
253 |
10.1 |
82 |
221 |
12.8 |
91 |
Indicated |
1,042 |
7.3 |
246 |
1,216 |
6.6 |
259 |
Complete M&I |
1,296 |
7.8 |
327 |
1,437 |
7.6 |
350 |
Inferred |
6,071 |
6.7 |
928 |
6,381 |
5.2 |
1,070 |
|
|
|
|
|
|
|
Observe:
-
Mineral assets are reported unique of mineral reserves; mineral assets that aren’t mineral reserves should not have demonstrated financial viability.
-
Mineral assets at Kiena and Eagle River Mine are thought-about for underground extraction and embody ore grade and waste materials inside doubtlessly mineable volumes. Kiena’s mineral useful resource is reported under the 100m crown pillar.
-
Eagle River Inferred Sources embody a Mishi open pit stock of 120koz at 1.6 g/t constrained inside a conceptual pit design.
-
A bulk density issue of two.8 tonnes per cubic m (t/m3) was utilized at Kiena and a couple of.7 tonnes per cubic m (t/m3) at Eagle River and Mishi
-
Sources at Kiena Mine are reported utilizing a 2.97 g/t Au cut-off grade for Kiena Deep, S50, Zone B and K109 zones; at Presqu’île, Dubuisson, Martin and Want Zones, a cut-off grade of two.42g/t was utilized with Northwest, South, VC and Wesdome zones being reported at a cut-off grade of three.2g/t.
-
The cut-off grade for assets reported at Eagle River mine was 4.38g/t and 0.52g/t at Mishi.
-
Financial parameters for the willpower of the useful resource cut-off grade for Kiena embody:
-
Gold value of $2,244 (US$1,700) per ounce, a USD/CAD trade price of 1.32.
-
Value per tonne of $172/t milled for Presqu’île and $211/t milled for all different zones at Kiena.
-
98.5% mill restoration.
-
-
Financial parameters for the willpower of the cut-off grade for Eagle River embody:
-
Gold value of $2,244 (US$1,700) per ounce, a USD/CAD trade price of 1.32.
-
Value per tonne of $299/t milled.
-
97% mill restoration.
-
Royalty of two%.
-
Mishi assets stay unchanged from December 31, 2022.
-
-
Mineral assets are labeled and have been estimated in accordance with CIM Definition Requirements .
-
As required by reporting pointers, rounding might end in obvious summation variations between tonnes, grade, and metallic content material.
Exploration Updates
Eagle River
Ongoing underground drilling of the 300 East Zone has continued to substantiate the continuity of the geometry and the consistency of the high-grade mineralization has now been prolonged to the 1,600 m-level and stays open down plunge. Current drilling alongside the jap margin of the 300 East Zone has returned wider widths, together with 77.6 g/t Au over 9.4 m core size and 42.6 g/t Au over 4.9 m core size.
In October 2023, the Firm introduced the invention of a second zone inside the volcanic rocks west of the mine diorite. This new Falcon 311 Zone has been delineated to increase at the very least 200 meters alongside plunge and almost 100 meters alongside strike, and interpreted to increase 900 metres to floor, just like the neighbouring Falcon 7 Zone. Current drilling returned 269.6 g/t Au over 2.3 m core size (26.7 g/t Au capped,1.5 m true width), together with 1,261 g/t Au over 0.5 m and 53.0 g/t Au over 2.9 m core size (28.6 g/t Au capped, 1.9 m true width).
Moreover, gold mineralization was recognized alongside the jap margin of the mine diorite with restricted drilling close to the historic 6 Zone, confirming our concept that volcanic rocks alongside this development are a bunch for gold mineralization, significantly in proximity to the diorite contact. Current drilling returned 22.5 g/t Au over 1.7 m core size (93.5 g/t Au capped, 1.5 m true width).
Each new volcanic-hosted zones have the potential to increase from floor and down plunge to depths equal to that of the neighbouring 300E Zone that has been examined to 1,500 vertical metres under floor.
In 2024, the Firm elevated the exploration program at Eagle River and set the next targets:
-
Deep drilling under 300E Zone with massive step-outs to offer preliminary indication of mineralization at depth to optimize future drilling and growth, in addition to convert the big Inferred Useful resource base at 300E Zone to the Indicated class and subsequently into Reserves.
-
Outline and prolong the just lately found Falcon 311 Zone.
-
Check volcanic rocks east of the mine diorite having comparable potential to the Falcon zones beforehand found west of the mine diorite proximal to the historic 2 Zone.
-
Check the depth potential of zones adjoining to 300E, together with 808, 811, 818, 711 and seven East.
-
Broaden the just lately drilled 6 Zone within the jap portion of the mine diorite.
-
Check regional targets Fork and Birch veins from floor. Yr up to now, heat climate circumstances have deferred this drilling, which can be reallocated to exploration targets instantly east of the mine diorite.
Kiena
Throughout 2023, exploration drilling was targeted on changing Inferred assets to the Indicated class at Presqu’île and at Kiena Deep, and subsequently into the Reserve class.
At Kiena Deep, drilling was targeted on higher defining and increasing the South Limb and has confirmed the continuity and excessive grade of this zone. At Presqu’île, drilling has confirmed not solely the continuity of the gold mineralization and the validity of the geologic mannequin, but additionally the potential for down plunge extensions in direction of the east. Highlights of current in-fill drilling embody 32.5 g/t over 3.0 m core size. The event of an exploration ramp from floor to entry the shallow Presqu’île Zone is underway now that the mandatory permits have been secured. The Presqu’île Zone is only one of a number of zones having the potential to supply a supplementary supply of mill feed within the higher mine space for the underutilized Kiena mill. Earlier drilling outcomes from the Shawkey and Dubuisson Zones, each adjoining to the prevailing 33-level monitor drift growth that extends over three kilometres east of the Kiena mine shaft, additional reinforces the potential of this space.
Moreover, underground drills on the rehabilitated portion of the 33 stage continued to check historic zones and anomalous drill outcomes additional to the east alongside strike from the Kiena mine, significantly across the Martin and Want Zones. Rehabilitation work is progressing eastwards.
In 2024, the Firm elevated the exploration program at Kiena and set the next targets:
-
Observe up on potential areas proximal to Martin, Want and Shawkey zones from the 33-level monitor drift the place current drilling outcomes have intersected shearing and quartz veining with seen gold.
-
Outline and prolong Kiena Deep Footwall and Hanging Wall Zones. Each zones have beforehand returned excessive grade outcomes and require additional definition and enlargement. The quantity of drilling on this space will enhance step by step over the medium time period as extra optimum drill platforms turn into obtainable.
-
Drill check the depth potential of the Presqu’île Zone from floor.
-
Convert present Inferred assets at Dubuisson zone into the Indicated class. Further structural data will probably be collected to enhance the 3D mannequin.
Fourth Quarter and Full Yr 2023 Convention Name and Webcast
The monetary statements and administration dialogue and evaluation will probably be obtainable on the corporate’s web site at www.wesdome.com and on SEDAR+ www.sedarplus.ca. A convention name and webcast to debate these outcomes will probably be held on Wednesday March 13, 2024 at 10:00 am ET.
Technical Disclosure
The technical and geoscientific content material of this launch together with the Mineral Useful resource and Mineral Reserve estimates have been compiled, reviewed, and permitted by Michael Michaud, P.Geo, Vice President, Exploration of the Firm and Frédéric Langevin, Eng, Chief Working Officer of the Firm, every a “Certified Individual” as outlined in Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks (“NI 43-101”).
Cautionary Observe to United States Traders Regarding Estimates of Reserves and Sources
The mineral reserve and useful resource estimates reported on this information launch had been ready in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”) as required by Canadian securities regulatory authorities. The USA Securities and Alternate Fee (the “SEC”) applies completely different requirements with the intention to classify and report mineralization. This information launch makes use of the phrases “measured”, “indicated” and “inferred” mineral assets, as required by NI 43-101. Readers are suggested that though such phrases are acknowledged and required by Canadian securities rules, the SEC doesn’t acknowledge such phrases. Canadian requirements differ considerably from the necessities of the SEC. Readers are cautioned to not assume that any half or all the mineral deposits in these classes represent or will ever be transformed into mineral reserves. As well as, “inferred” mineral assets have a large amount of uncertainty as to their existence and nice uncertainty as to their financial and authorized feasibility. It can’t be assumed that each one or any a part of an inferred mineral useful resource exists, is economically or legally mineable or will ever be upgraded to a better class of mineral useful resource.
For the above causes, data contained on this information launch containing descriptions of the Firm’s mineral deposits might not be corresponding to comparable data made public by United States corporations topic to the reporting and disclosure necessities underneath america federal securities legal guidelines and the foundations and rules thereunder.
About Wesdome
Wesdome is a Canadian targeted gold producer with two excessive grade underground property, the Eagle River mine in Ontario and the just lately commissioned Kiena mine in Quebec. The Firm’s main objective is to responsibly leverage this working platform and high-quality brownfield and greenfield exploration pipeline to construct Canada’s subsequent intermediate gold producer. Wesdome trades on the Toronto Inventory Alternate underneath the image “WDO,” with a secondary itemizing on the OTCQX underneath the image “WDOFF.”
For additional data, please contact:
Raj Gill, SVP, Company Improvement & Investor Relations
Lindsay Dunlop, VP, Investor Relations
Cellphone: +1 (416) 360-3743
E-Mail: invest@wesdome.com
To obtain Wesdome’s information releases by e-mail, please register utilizing the Wesdome web site at www.wesdome.com
Ahead Trying Statements
This information launch comprises “forward-looking data” which contain various dangers and uncertainties. Typically, however not at all times, forward-looking statements might be recognized by way of phrases comparable to “plans”, “expects”, “is anticipated”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with destructive variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will” be taken, happen or be achieved. Ahead-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Ahead-looking statements contained herein are made as of the date of this press launch and the Firm disclaims any obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or outcomes or in any other case. There might be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements.
Ahead-looking statements or data contained on this press launch embody, however aren’t restricted to, statements or data with respect to: the estimation of Mineral Reserves and Mineral Sources and the belief of such mineral estimates; our expectations round manufacturing, bills, processing, grade and recoveries; our anticipated free money movement era in 2024 and 2025; the success and targets of our exploration packages’ and the value of gold, and different commodities. Ahead-looking statements and forward-looking data by their nature are primarily based on assumptions and contain recognized and unknown dangers, uncertainties and different elements, which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements or data.
Now we have made sure assumptions in regards to the forward-looking statements and data, together with assumptions round financial parameters regarding our Mineral Reserves and Mineral Useful resource estimated described herein. Regardless that our administration believes that the assumptions made and the expectations represented by such statements or data are affordable within the circumstances, there might be no assurance that the forward-looking assertion or data will show to be correct. Many assumptions could also be tough to foretell and are past the Firm’s management.
Moreover, ought to a number of of the dangers, uncertainties or different elements materialize, or ought to underlying assumptions show incorrect, precise outcomes might fluctuate materially from these described in forward-looking statements or data. These dangers, uncertainties and different elements together with these threat elements mentioned within the sections titled “Cautionary Observe Relating to Ahead Trying Data” and “Dangers and Uncertainties” within the Firm’s most up-to-date Annual Data Type. Readers are urged to fastidiously evaluation the detailed threat dialogue in our most up-to-date Annual Data Type which is accessible on SEDAR+ and on the Firm’s web site.
There might be no assurance that forward-looking statements or data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. The Firm undertakes no obligation to replace forward-looking statements if circumstances, administration’s estimates or opinions ought to change, besides as required by securities laws. Accordingly, the reader is cautioned to not place undue reliance on forward-looking statements.
Non-IFRS Efficiency Measures
Sure non-IFRS monetary measures, ratios and supplementary measures are included on this information launch, together with money margin, EBITDA, adjusted attributable internet loss, adjusted attributable internet loss per share, free money movement, free money movement per share, money prices per ounce, common realized gold value, common realized gold value per share, all-in sustaining prices and all-in sustaining prices per ounce, and manufacturing prices per tonne milled in addition to working capital.
Please see the Firm’s administration’s dialogue and evaluation for the fiscal yr finish 2023 (the “Fiscal 2023 MD&A”) for explanations, definitions and dialogue of those non-IFRS monetary measures and ratios. The Firm believes that these measures, along with standard measures ready in accordance with Worldwide Monetary Reporting Requirements (“IFRS”), present buyers an improved capability to guage the underlying efficiency of the Firm. The non-IFRS and different monetary measures and ratios are supposed to offer further data and shouldn’t be thought-about in isolation or as an alternative choice to measures or ratios of efficiency ready in accordance with IFRS. These measures and ratios should not have any standardized which means prescribed underneath IFRS, and due to this fact might not be corresponding to different issuers. Sure further disclosures and reconciliations for these and different monetary measures and ratios might be discovered under and within the part ‘Non-IFRS Efficiency Measures’ within the Firm’s Fiscal 2023 MD&A obtainable on SEDAR+ at www.sedarplus.com and on the Firm’s web site underneath the ‘Traders’ part.
Cautionary Observe Relating to Non-GAAP Monetary Measures
Common realized value per ounce of gold offered
Common realized value per ounce of gold offered is a non-IFRS measure and doesn’t represent a measure acknowledged by IFRS and doesn’t have a standardized which means outlined by IFRS. Common realized value per ounce of gold offered is calculated by dividing gold gross sales proceeds acquired by the Firm for the related interval by the ounces of gold offered. It might not be corresponding to data in different gold producers’ experiences and filings.
In 000s, besides per unit quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
|
|
|
|
|
||||
Revenues per monetary statements |
102,221 |
|
75,035 |
|
333,173 |
|
265,483 |
|
Silver income from mining operations |
(73) |
|
(60) |
|
(306) |
|
(263) |
|
Gold income from mining operations (a) |
102,148 |
|
74,975 |
|
332,867 |
|
265,220 |
|
|
|
|
|
|
||||
Ounces of gold offered (b) |
37,620 |
|
31,500 |
|
126,620 |
|
113,000 |
|
|
|
|
|
|
||||
Common realized value gold offered CAD (c) = (a) ÷ (b) |
2,715 |
|
2,380 |
|
2,629 |
|
2,347 |
|
|
|
|
|
|
||||
Common 1 USD → CAD trade price (d) |
1.3619 |
|
1.3578 |
|
1.3495 |
|
1.3013 |
|
|
|
|
|
|
||||
Common realized value gold offered USD (c) ÷ (d) |
1,994 |
|
1,753 |
|
1,948 |
|
1,804 |
|
|
|
|
|
|
Money prices per ounce of gold offered
Money price per ounce of gold offered is a non-IFRS efficiency measure and doesn’t represent a measure acknowledged by IFRS and doesn’t have a standardized which means outlined by IFRS, as properly it might not be corresponding to data in different gold producers’ experiences and filings. The Firm has included this non-IFRS efficiency measure all through this doc as Wesdome believes that this usually accepted trade efficiency measure gives a helpful indication of the Firm’s operational efficiency. The Firm believes that, along with standard measures ready in accordance with IFRS, sure buyers use this data to guage the Firm’s efficiency and skill to generate money movement. Accordingly, it’s supposed to offer further data and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. The next desk gives a reconciliation of complete money prices per ounce of gold offered to price of gross sales per the monetary statements for every of the final eight quarters:
In 000s, besides per unit quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
|
|
|
|
|
||||
Value of gross sales per monetary statements |
78,506 |
|
61,997 |
|
295,422 |
|
214,371 |
|
Depletion and depreciation |
(23,861) |
|
(13,428) |
|
(95,188) |
|
(44,562) |
|
Silver income from mining operations |
(73) |
|
(60) |
|
(306) |
|
(263) |
|
Money prices (a) |
54,572 |
|
48,509 |
|
199,928 |
|
169,546 |
|
|
|
|
|
|
||||
Ounces of gold offered (b) |
37,620 |
|
31,500 |
|
126,620 |
|
113,000 |
|
|
|
|
|
|
||||
Money prices per ounce of gold offered (c) = (a) ÷ (b) |
1,451 |
|
1,540 |
|
1,579 |
|
1,500 |
|
|
|
|
|
|
||||
Common 1 USD → CAD trade price (d) |
1.3619 |
|
1.3578 |
|
1.3495 |
|
1.3013 |
|
|
|
|
|
|
||||
Money prices per ounce of gold offered USD (c) ÷ (d) |
1,065 |
|
1,134 |
|
1,170 |
|
1,153 |
|
|
|
|
|
|
Manufacturing prices per tonne milled
Mine-site price per tonne milled is a non-IFRS efficiency measure and doesn’t represent a measure acknowledged by IFRS and doesn’t have a standardized which means outlined by IFRS, as properly it might not be corresponding to data in different gold producers’ experiences and filings. As illustrated within the desk under, this measure is calculated by adjusting price of gross sales, as proven within the statements of revenue for non-cash depletion and depreciation, royalties and stock stage modifications after which dividing by tonnes processed by way of the mill. Administration believes that mine-site price per tonne milled gives further data concerning the efficiency of mining operations and permits Administration to watch working prices on a extra constant foundation because the per tonne milled measure reduces the associated fee variability related to various manufacturing ranges. Administration additionally makes use of this measure to find out the financial viability of mining blocks. As every mining block is evaluated primarily based on the web realizable worth of every tonne mined, the estimated income on a per tonne foundation have to be in extra of the manufacturing price per tonne milled with the intention to be economically viable. Administration is conscious that this per tonne milled measure is impacted by fluctuations in throughput and thus makes use of this analysis device along side manufacturing prices ready in accordance with IFRS. This measure dietary supplements manufacturing price data ready in accordance with IFRS and permits buyers to tell apart between modifications in manufacturing prices ensuing from modifications in manufacturing versus modifications in working efficiency.
In 000s, besides per unit quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
|
|
|
|
|
||||
Value of gross sales per monetary statements |
78,506 |
|
61,997 |
|
295,422 |
|
214,371 |
|
Depletion and depreciation |
(23,861) |
|
(13,428) |
|
(95,188) |
|
(44,562) |
|
Royalties |
(1,267) |
|
(1,172) |
|
(4,466) |
|
(3,663) |
|
Stock changes |
(3,908) |
|
1,288 |
|
(3,526) |
|
1,323 |
|
Mining and processing prices, earlier than stock changes (a) |
49,470 |
|
48,685 |
|
192,242 |
|
167,469 |
|
|
|
|
|
|
||||
Ore milled (tonnes) (b) |
104,318 |
|
109,725 |
|
419,926 |
|
362,058 |
|
|
|
|
|
|
||||
Manufacturing prices per tonne milled (a) ÷ (b) |
474 |
|
444 |
|
458 |
|
463 |
|
|
|
|
|
|
Money margin
Money margin is a non-IFRS measure and doesn’t represent a measure acknowledged by IFRS and doesn’t have a standardized which means outlined by IFRS, as properly it might not be corresponding to data in different gold producers’ experiences and filings. It’s calculated because the distinction between gold gross sales income from mining operations and money mine web site working prices (see Money price per ounce of gold offered underneath this Part above) per the Firm’s Monetary Statements. The Firm believes it illustrates the efficiency of the Firm’s working mines and allows buyers to higher perceive the Firm’s efficiency compared to different gold producers who current outcomes on the same foundation.
In 000s, besides per unit quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
|
|
|
|
|
Gold income from mining operations (per above) |
102,148 |
74,975 |
332,867 |
265,220 |
Money prices (per above) |
54,572 |
48,509 |
199,928 |
169,546 |
Money margin |
47,576 |
26,466 |
132,939 |
95,674 |
|
|
|
|
|
Per ounce of gold offered (Canadian greenback): |
|
|
|
|
|
|
|
|
|
Common realized value (a) |
2,715 |
2,380 |
2,629 |
2,347 |
Money prices (b) |
1,451 |
1,540 |
1,579 |
1,500 |
Money margin (a) – (b) |
1,264 |
840 |
1,050 |
847 |
|
|
|
|
|
All-in sustaining prices
All-in sustaining prices (“AISC”) embody mine web site working prices incurred at Wesdome mining operations, sustaining mine capital and growth expenditures, mine web site exploration expenditures and gear lease funds associated to the mine operations and company administration bills. The Firm believes that this measure represents the entire prices of manufacturing gold from present operations and gives Wesdome and different stakeholders with further data that illustrates the Firm’s operational efficiency and skill to generate money movement. This price measure seeks to mirror the total price of gold manufacturing from present operations on a per-ounce of gold offered foundation. New undertaking and development capital aren’t included.
In 000s, besides per unit quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
|
|
|
|
|
||||
Value of gross sales, per monetary statements |
78,506 |
|
61,997 |
|
295,422 |
|
214,371 |
|
Depletion and depreciation |
(23,861) |
|
(13,428) |
|
(95,188) |
|
(44,562) |
|
Silver income from mining operations |
(73) |
|
(60) |
|
(306) |
|
(263) |
|
Money prices |
54,572 |
|
48,509 |
|
199,928 |
|
169,546 |
|
Sustaining mine exploration and growth |
10,190 |
|
7,179 |
|
37,381 |
|
22,865 |
|
Sustaining mine capital gear |
6,779 |
|
5,585 |
|
21,937 |
|
9,883 |
|
Tailings administration facility |
342 |
|
1,597 |
|
371 |
|
5,494 |
|
Company and common |
5,955 |
|
2,309 |
|
18,331 |
|
11,823 |
|
Much less: Company growth |
(276) |
|
(72) |
|
(678) |
|
(296) |
|
Fee of lease liabilities |
780 |
|
2,167 |
|
5,182 |
|
8,898 |
|
All-in Sustaining prices (AISC) (a) |
78,342 |
|
67,274 |
|
282,452 |
|
228,213 |
|
|
|
|
|
|
||||
Ounces of gold offered (b) |
37,620 |
|
31,500 |
|
126,620 |
|
113,000 |
|
|
|
|
|
|
||||
AISC (c) = (a) ÷ (b) |
2,082 |
|
2,136 |
|
2,231 |
|
2,020 |
|
|
|
|
|
|
||||
Common 1 USD → CAD trade price (d) |
1.36 |
|
1.36 |
|
1.35 |
|
1.30 |
|
|
|
|
|
|
||||
AISC USD (c) ÷ (d) |
1,529 |
|
1,573 |
|
1,653 |
|
1,552 |
|
|
|
|
|
|
Free money movement and working and free money movement per share
Free money movement is calculated by taking internet money offered by working actions much less money utilized in capital expenditures and lease funds as reported within the Firm’s monetary statements. Free money movement per share is calculated by dividing free money movement by the weighted common variety of shares excellent for the interval.
Working money movement per share is a non-IFRS measure and doesn’t represent a measure acknowledged by IFRS and doesn’t have a standardized which means outlined by IFRS. Working money movement per share is calculated by dividing money movement from working actions within the Firm’s Monetary Statements by the weighted common variety of shares excellent for every year. It might not be corresponding to data in different gold producers’ experiences and filings.
In 000s, besides per share quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
||||
|
|
|
|
|
||||
Internet money offered by working actions per monetary statements (c) |
37,176 |
|
10,267 |
|
101,351 |
|
65,206 |
|
Sustaining mine exploration and growth |
(10,190) |
|
(7,179) |
|
(37,381) |
|
(22,865) |
|
Sustaining mine capital gear |
(6,779) |
|
(5,585) |
|
(21,937) |
|
(9,883) |
|
Tailings administration facility |
(342) |
|
(1,597) |
|
(371) |
|
(5,494) |
|
Air flow undertaking |
0 |
|
0 |
|
0 |
|
(499) |
|
Capitalized growth, exploration and analysis expenditures |
0 |
|
(4,284) |
|
0 |
|
(25,928) |
|
Mines underneath growth capital gear |
0 |
|
(13,958) |
|
0 |
|
(74,707) |
|
Development mine exploration and growth |
(4,154) |
|
(919) |
|
(16,941) |
|
(919) |
|
Development mine capital gear |
(7,132) |
|
(5,668) |
|
(24,202) |
|
(5,668) |
|
Buy of mineral properties |
0 |
|
0 |
|
(200) |
|
0 |
|
Floor exploration at Eagle River |
0 |
|
0 |
|
0 |
|
0 |
|
Funds held towards standby letters of credit score |
0 |
|
(519) |
|
(1,542) |
|
(519) |
|
Fee of lease liabilities |
(780) |
|
(2,167) |
|
(5,182) |
|
(8,898) |
|
Free money flows (a) |
7,799 |
|
(31,609) |
|
(6,405) |
|
(90,174) |
|
|
|
|
|
|
||||
Weighted variety of shares (000s) (b) |
148,965 |
|
142,782 |
|
147,611 |
|
142,391 |
|
|
|
|
|
|
||||
Per Share information |
|
|
|
|
||||
Working money movement (c) ÷ (b) |
0.25 |
|
0.07 |
|
0.69 |
|
0.46 |
|
Free money movement (a) ÷ (b) |
0.05 |
|
(0.22) |
|
(0.04) |
|
(0.63) |
|
|
|
|
|
|
Internet revenue (adjusted) and Adjusted internet revenue per share
Adjusted internet revenue (loss) and adjusted internet revenue (loss) per share are non-IFRS efficiency measures and don’t represent a measure acknowledged by IFRS and should not have standardized meanings outlined by IFRS, as properly each measures might not be corresponding to data in different gold producers’ experiences and filings. Adjusted internet revenue (loss) is calculated by eradicating the one-time positive factors and losses ensuing from the disposition of non-core property, non-recurring bills and important tax changes (mining tax recognition and exploration credit score refunds) not associated to present interval’s revenue, as detailed within the desk under. Wesdome discloses this measure, which is predicated on its monetary statements, to help within the understanding of the Firm’s working outcomes and monetary place.
In 000s, besides per share quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
|||
|
|
|
|
|
|||
Internet (loss) revenue per monetary statements |
2,420 |
(3,527) |
|
(6,187) |
|
(14,706) |
|
|
|
|
|
|
|||
Changes for: |
|
|
|
|
|||
Impairment of funding in affiliate |
0 |
0 |
|
3,600 |
|
11,800 |
|
Retirement prices |
0 |
0 |
|
2,102 |
|
0 |
|
Complete changes |
0 |
0 |
|
5,702 |
|
11,800 |
|
Associated revenue tax impact |
0 |
0 |
|
(1,425) |
|
(2,950) |
|
|
0 |
0 |
|
4,277 |
|
8,850 |
|
Internet (loss) revenue adjusted (a) |
2,420 |
(3,527) |
|
(1,910) |
|
(5,856) |
|
|
|
|
|
|
|||
Weighted variety of shares (000s) (b) |
148,965 |
142,782 |
|
147,611 |
|
142,391 |
|
|
|
|
|
|
|||
Per Share information |
|
|
|
|
|||
Internet adjusted (loss) revenue (a) ÷ (b) |
0.02 |
(0.02) |
|
(0.01) |
|
(0.04) |
|
|
|
|
|
|
EBITDA
Earnings earlier than curiosity, taxes and depreciation and amortization (“EBITDA”) is a non-IFRS monetary measure which excludes the next objects from internet revenue (loss): curiosity expense; mining and revenue taxes and depletion and depreciation bills. The Firm believes that, along with standard measures ready in accordance with IFRS, the Firm and sure buyers use EBITDA as an indicator of Wesdome’s capability to generate liquidity by producing working money movement to fund working capital wants, service debt obligations and fund capital expenditures. EBITDA is meant to offer further data to buyers and analysts and should not have any standardized definition underneath IFRS and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. EBITDA excludes the affect of money prices of financing actions and taxes, and the results of modifications in working working capital balances, and due to this fact aren’t essentially indicative of working revenue or money movement from operations as decided underneath IFRS. Different producers might calculate EBITDA in another way.
In 000s, besides per share quantities |
This autumn 2023 |
This autumn 2022 |
FY 2023 |
FY 2022 |
|||
|
|
|
|
|
|||
Internet revenue (loss) per monetary statements |
2,420 |
(3,527) |
|
(6,187) |
|
(14,706) |
|
|
|
|
|
|
|||
Changes for: |
|
|
|
|
|||
Mining and revenue tax expense (restoration) |
10,761 |
10,129 |
|
(182) |
|
11,515 |
|
Depletion and depreciation |
23,861 |
13,428 |
|
95,188 |
|
44,562 |
|
Non-recurring bills |
0 |
0 |
|
5,702 |
|
11,800 |
|
Curiosity expense |
1,214 |
1,279 |
|
4,812 |
|
2,446 |
|
EBITDA |
38,256 |
21,309 |
|
99,333 |
|
55,617 |
|
|
|
|
|
|
PDF obtainable: http://ml.globenewswire.com/Resource/Download/fc3507b2-9dc5-4d62-86f5-e6e1cd2b7349
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