This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

Wesdome Gold Mines Ltd.
8/10/2023
Good morning. Welcome to West Dome Goldmine's Q2 2023 Financial Results Conference Call. I will now turn the call over to Heather Laxton, Chief Governance Officer, to begin today.
Great. Thanks, Operator. And good morning, everyone. Welcome to West Dome Goldmine's second quarter 2023 Results Conference Call. Our release yesterday should be read in conjunction with our MD&A and financial statements, both of which can be found on CDAR and on our website. Following the prepared remarks, we will open the call for questions. All figures discussed on this call are in Canadian dollars unless otherwise noted. Before we begin, we'd like to take this opportunity to remind everyone that during this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could cause outcomes to differ materially due to a number of risks and uncertainties. including those mentioned in the detailed cautionary notes contained in yesterday's press release and in the company's management discussion and analysis dated August 10th, 2023. Both documents are available on our website and on CDAR. The slides used for this presentation and the recording of this call will be posted on the company's website. I will now turn the call over to Angie Bass, President and CEO.
Thanks, Heather, and good morning, everyone. After about six weeks at Western, I must express my sincere gratitude for the warm welcome and the chance to immerse myself in operations and engage with our dedicated team, as well as our value partners in the investment community and other stakeholders. I come away excited at the underlying potential of this asset as one of the opportunities that presents a fantastic pathway to increase value generation of this high-quality Canadian asset. Speaking on the call with me today will be our COO, Fred Longman. I'm sorry. Our co-NCFO, Scott Gilders, and our VP of Exploration, Michael Michaud. Before we delve into the final operational details, I'd like to share a few thoughts of my own. In the second quarter, both sites delivered solid operational performance, showing sequential improvements over the first quarter in terms of development rate and throughput, despite facing challenges from regional forest fires. Their rapid response, processes, procedures, and commitment to safety during this time is to be commended. Looking ahead, we are well positioned to meet the midpoint of annual guidance at 110,000 to 130,000 ounces at an all-in sustaining cost of the US dollar 1620 to $1,800 an ounce. We do forecast cash flow to remain back in wages this year as Q3 will coincide with peak capital spend and lower sales volume due to planned maintenance shutdown at Eagle. I must emphasize that the guidance we set forth at the beginning of the year remains intact. Despite the improvement to consistent operational delivery in 2023, there is more work to be done Over the coming months, I'm committed to developing and implementing a strategy founded on long-term, per-share value maximization, starting with improving our technical capacity to manage risk, optimize plans, and sustainably drive down cost-to-no-cost. These initiatives, in addition to an increased focus on step-change exploration, will serve to maximize value of the strong assets within a risk framework that's acceptable to our business. Tripping to our balance sheet, I'm pleased to announce And after an extensive and holistic review of near-term operating and financial projections, we have determined that the use of the ATN tool is no longer necessary. Based on preliminary updates to our Life of Mind plan, we have confidence in our outlook and we look forward to issuing at least two years of achievable production and cost guidance in January. With a substantial credit line of $150 million at our disposal, we have more than enough liquidity to meet short-term cash requirements. As such, I'd like to extend my thanks to Scott for working with us as a board of lenders to put this in place. Although we have not worked long together, I've enjoyed our relationship and wish Scott all the best in his next endeavor, where I know he'll do a great job. With that, I'll pass over to Fred to walk to an operational performance in the quarter.
You're reading a preview of the WDO Q2 2023 earnings call.
Free account.