Endomines produces nearly 130kg gold in the second quarter
Endomines AB, Stock Exchange Release 4 July 2018 at 08:30 CEST
Endomines reports production results for the second quarter of 2018. Total gold production in Q2 amounted to 129.6kg.
|Key production figures||Apr-Jun||Jan-Jun|
|Milled ore (tonnes)||44,453||47,621||-3,168||82,021||88,425||-6,404|
|Head grade (Au gram/tonne)||3.6||2.7||0.9||3.3||2.8||0.5|
|Gold recovery (%)||82.8||83.1||-0.3||82.8||83.4||-0.6|
|Hourly utilization (%)||41.6||43.5||-1.9||38.5||42.3||-3.8|
|Gold production (kg)||129.6||107.4||22.2||221.8||205.3||16.5|
|Gold production (oz)||4,168||3,453||715||7,131||6,601||530|
|LTIFR (roll 12 months)||9||7||2||9||7||2|
Production figures for the last quarter are based on Company’s own assaying and not confirmed by any external laboratory. Figures are individually rounded off.
LTIFR = The Lost Time Injury Frequency Rate is based on reported lost time injuries on a rolling 12-month basis resulting in one day or more off work per 1,000,000 hours worked. LTIFR has been calculated for the whole company including contractors.
The gold head grade averaged 3.6 g/t in Q2 and was 0.9 g/t higher than in the corresponding period in 2017, which contributed to the improved gold production at 129.6kg (Q2 2017: 107.4kg). The improvement in the head grade primarily derives from a higher in-situ grade of ore. Endomines’ ore production and milled ore tons in the second quarter of 2018 were somewhat lower than the year before, largely due to continued challenging rock conditions in some sections of the Pampalo mine.
Production guidance for 2018 unchanged:
Endomines anticipates producing 250-300kg gold in Pampalo in January-September 2018.
Saila Miettinen-Lähde, CEO, +358 40 548 36 95, saila.miettinen-lahde(at)endomines.com
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 CEST on 4 July 2018.
Endomines is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo, has exploration activities along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).