Wesdome Gold Mines reports Q2 2026 net income, free cash flow

Wesdome Gold Mines (OTC: WDOFF ) held its second-quarter earnings conference call on Friday.

Below is the complete transcript from the call.

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The full earnings call is available at Summary Wesdome Gold Mines reported a strong Q2 2026, with net income of $94 million, free cash flow of $42 million, and a cash balance of $390 million after a significant share buyback program.

The company has extended mine life at Eagle River and Kiena to approximately eight years, supported by reserve-based mine plans, and is focusing on increasing production and operational flexibility.

All-in sustaining costs (AISC) per ounce were $1,763 US, with expectations for reduced AISC at Eagle River in H2 2026.

Operational highlights include the first production stope at Presqu'ile and increased mill throughput at Eagle River, with expectations to fill the mill by 2027.

Management emphasized a strategic shift towards district-scale opportunities, leveraging existing infrastructure, and a focus on intrinsic value per share rather than scale for its own sake.

The company plans to maintain its production and cost guidance for 2026 and has initiated a quarterly dividend and expanded its share buyback program.

Exploration efforts are robust, with 270,000 meters planned for 2026, and recent discoveries like the Norbert Knight are expected to enhance Kiena's long-term resource profile.

Full Transcript OPERATOR Okay.

Good morning.

Welcome to Wesdome Gold Mines' conference call to discuss the company's financial and operating results for the three and six months ended June 30, 2026.

As a reminder, this call is being recorded.

Your host for today is Trish Moran, Wesdome's Vice President of Investor Relations.

Ms.

Moran, please go ahead.

Trish Moran, Vice President, Investor Relations Thank you and good morning everyone.

Before we get started, I'd like to point out that during today's call we may make forward-looking statements as defined under Canadian securities law.

I ask that you view our slide presentation for cautionary language regarding forward-looking statements and the risk factors pertaining to these statements.

Please note that all figures discussed on this call are in Canadian dollars.

Unless otherwise noted, our press release, MD&A and financial statements are available both on SEDAR+ and on our corporate website wesdome.com.

With us on today's call are Anthea Bath, Wesdome's CEO; Phil Yee, our Chief Financial Officer; Tyler Mitchelson, our COO; Jonah Lawrence, Senior Vice President, Exploration; and Kevin Lonergan, SVP, Technical Services.

Following management's formal remarks, we will then open the call to questions.

And now over to Anthea.

Anthea Bath, CEO Thank you, Trish, and good morning everyone.

Q2 was another strong quarter for Wesdome and another demonstration of how fundamentally this company has changed.

We delivered net income of $94 million and $42 million of free cash flow and ended the quarter with more than $390 million in cash after returning more than $80 million to shareholders through our share buyback program.

At Eagle River, increasing throughput reflects our deliberate move towards a larger, more productive operating model.

We're beginning to leverage our fixed cost infrastructure and we expect those benefits to become increasingly visible as throughput grows.

Kiena also delivered a strong quarter on production and costs.

In July, we blasted the first production stope at Presqu'ile, establishing three active mining horizons and achieved the breakthrough of our new ramp from surface.

There's another number from the quarter worth highlighting and that number is eight.

For the first time in Wesdome's history, both Eagle River and Kiena are underpinned by reserve-based mine plans extending approximately eight years.

Last week we filed the independent technical report supporting those plans, culminating nearly three years of work to build longer-life, more predictable and more resilient operations.