Endomines Q1/2014: Pampalo production update
Endomines AB publishes its first quarter 2014 (ending March 31) production results for its Pampalo Operations in Eastern Finland. The mine produced 176 kg or 5,659oz of gold during the first quarter.
Pampalo Q1/2014 Production Results[1]:
Key production data, quarterly production figures
| Q2-2012 | Q3-2012 | Q4-2012 | Q1-2013 | Q2-2013 | Q3-2013 | Q4-2013 | Q1-2014 | |
| Milled ore (tonnes) | 64,730 | 64,177 | 59,446 | 58,856 | 80,939 | 93,460 | 96,328 | 107866 |
| Head grade (Au gram/tonne) | 4.4 | 3.2 | 5.4 | 3.5 | 2.3 | 3.0 | 2.6 | 2,0 |
| Gold recovery (%) | 86.6 | 85.5 | 87.2 | 88.4 | 86.7 | 82.6 | 82.8 | 81,6 |
| Hourly utilization (%) | 94.2 | 95.0 | 88.1 | 88.8 | 92.7 | 92.7 | 87.5 | 94,6 |
| Gold production (kg) | 244.5 | 175.8 | 277.4 | 180.4 | 168.1 | 228.5 | 213.0 | 176.0 |
| Gold production (oz) | 7,862 | 5,652 | 8,920 | 5,800 | 5,405 | 7,346 | 6,848 | 5 659 |
| LTIFR[2] (12 month rolling) | 11 | 10 | 9 | 9 | 0 | 8 | 8 | 11 |
The milled ore tonnage exceeded for the first time 100,000 tonnes during the quarter, which again shows that the processing plant is of high technical quality. The capacity utilization rate in the mill was good and amounted to 94.6%. The gold production for the first quarter amounted to 176 kg, slightly below target due to a lower than expected gold grade and with that a lower gold recovery.
For further information, please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50
or visit the Company´s home page: www.endomines.com
About Endomines AB
Endomines AB is a Nordic mining and exploration company with its first operating gold mine in production since February 2011. The mine is located in Eastern Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where Endomines controls all currently known gold deposits.
The company’s business practices and mining operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting (public mining & exploration companies). It has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
[1] Production figures for Q1/2014 are based on company own assaying and not confirmed by any external laboratory. Figures are individually rounded off.
[2] LTIFR = The Lost Time Injury Frequency Rate is based on reported lost time injuries on a rolling 12-month bases resulting in one day/shift or more off work per 1,000,000 hours worked. LTIFR has been calculated for the whole company including contractors.
The shares of Endomines AB are quoted on NASDAQ OMX Stockholm under ticker ENDO and on NASDAQ OMX Helsinki under ticker ENDOM. Pareto Öhman acts as Liquidity Provider.
This news release may contain forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:45 CET on April 7th, 2014.
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