Wesdome at Mining Forum Americas 2026: growth plan leans on drilling

Wesdome Gold Mines Limited presented its long-term growth plan at Mining Forum Americas 2026, focusing on two Canadian gold mines, Eagle River in Ontario and Kiena in Quebec. The company plans to expand these assets, with current production at Eagle River running at about 70% of its mill capacity and Kiena at 40%. Wesdome intends to invest CAD 55 million in exploration in 2026, part of a three-to-five-year program that includes about 270 kilometers of drilling.

The company expects conceptual exploration targets of 6.3 million ounces over the planning horizon. Wesdome's shares have seen a recent pullback, trading at $35.05, down 4.26% from the previous close of $36.61, but remains above its 52-week low of $19.48. Despite the recent decline, the stock is considered undervalued by InvestingPro, with a Fair Value estimate suggesting potential upside.

Wesdome's strategy emphasizes disciplined capital spending, converting discoveries into resources, and ultimately generating free cash flow. The company has demonstrated strong per-share growth since 2016, with production per thousand shares tripling and operating cash flow per share rising from CAD 0.16 to CAD 3.00.

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