Endomines signs sales agreement for gravimetric gold concentrate with K.A. Rasmussen AS, Norway
Endomines AB is pleased to announce that its wholly owned subsidiary Endomines Oy has signed an agreement to sell and deliver its gravimetric gold concentrate production from the Pampalo Gold Mine to precious metals refiner K.A. Rasmussen AS, Norway.
The volume of deliveries and estimated concentrate grade allow up to 100% of gravimetric concentrate production to be delivered to Rasmussen. The agreement is signed for a period of one year, with the option of renewal for successive one year periods.
"I'm very pleased that we have succeeded in concluding this off-take agreement after commercial test deliveries have proven to be mutually satisfactory. The agreement implicates trust from the customer side that Endomines will be able to deliver high grade, low impurities concentrate for refining at Rasmussen’s refinery in Hamar, Norway. The agreement also provides Endomines with flexibility, as it can balance its production between higher value gravimetric gold concentrate and flotation concentrate production volumes", comments Markus Ekberg, CEO of Endomines.
For further information, please contact:
|Markus Ekberg||Harald Sverdrup|
|CEO of Endomines AB||President, K.A. Rasmussen AS|
|tel. +358 40 706 48 50||+46 706 855 683|
About K.A. Rasmussen AS:
K.A. Rasmussen AS is Scandinavia's largest supplier of precious metals and offers metal products used in a variety of ways – from investment gold and silver cutlery to semi-manufactured products and catalysts for the chemical industry. K.A. Rasmussen was founded in 1872 by Knut Andreas Rasmussen, a goldsmith from Oslo. The company has developed from a small workshop into a large industrial producer of semi-manufactured precious metals products.
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 has several other gold and industrial mineral properties at various stages of development. All Endomines’ mineral assets are located in Finland, which is politically stable, has a highly developed infrastructure and is ranked as one of the most favorable jurisdictions for the mining industry.
Endomines aims to increase shareholder value by developing its strong portfolio of assets, as well as exploring new deposits on the Karelian Gold Line and in Finnish Lapland. The company will also consider new opportunities and acquisitions for further growth.
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 also 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.
Endomines applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The shares of Endomines AB are quoted on the First North Premier segment in Stockholm under ticker ENDO.ST. Erik PenserBankaktiebolag acts as Certified Adviser and Liquidity Provider.
Read more about Endomines on www.endomines.com
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.