Endomines gold production Q3/2016
Endomines reports production results for the third quarter of 2016. Total gold production amounted to 83.0 kg, which was an improvement from the previous period and according to plan.
During the reporting period the overall head-grade as well as the gold recovery continued to improve. Milled ore tonnage was according to the plan based on the Selective Mining principles from the beginning of the year.
| Key production data per quarter | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 |
| 2015 | 2015 | 2015 | 2015 | 2016 | 2016 | 2016 | |
| Milled ore (tonnes) | 76 089 | 85 738 | 90 143 | 83 926 | 35 317 | 37 303 | 36 104 |
| Head grade (Au gram/tonne) | 2,1 | 1,8 | 2,0 | 1,7 | 2,1 | 2,4 | 2,7 |
| Gold recovery (%) | 83,8 | 84,1 | 82,7 | 81,4 | 80,2 | 82,8 | 85,3 |
| Hourly utilization (%) | 82,8 | 91,5 | 93,3 | 80,2 | 35,3 | 37,7 | 34,0 |
| Gold production (kg) | 131,3 | 126,6 | 153,1 | 118,5 | 58,5 | 73,7 | 83,0 |
| Gold production (oz) | 4 221 | 4 069 | 4 922 | 3 810 | 1 881 | 2 370 | 2 669 |
| LTIFR (roll 12 months) | 25 | 10 | 9 | 4 | 5 | 6 | 6 |
| Note! Decimals are indicated by a comma and thousands are separated by a space | |||||||
Production figures for the last quarter are based on company 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 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
| Key production figures Y-T-D | January-September | ||
| 2016 | 2015 | +/- | |
| Milled ore (tonnes) | 108 724 | 251 970 | -143 246 |
| Head grade (Au gram/tonne) | 2,4 | 2,0 | 0,4 |
| Gold recovery (%) | 82,8 | 83,5 | -0,7 |
| Hourly utilization (%) | 35,7 | 89,2 | -53,5 |
| Gold production (kg) | 215,2 | 411,0 | -195,8 |
| Gold production (oz) | 6 920 | 13 212 | -6 292 |
| Note! Decimals are indicated by a comma and thousands are separated by a space | |||
Outlook for 2016
Year-to-date gold production was 215.2 kg. During 2016 the Company expects to produce between 300 and 350 kg gold.
An English summary of the full interim report will be published on November 17, 2016.
CONTACT PERSONS
Markus Ekberg, CEO of Endomines AB, phone +358-40-706 48 50
E-mail: markus.ekberg(at)endomines.com
and
Börje Lindén, CFO of Endomines AB, phone +46 709 728 170
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10:30 CET on OCTOBER 6, 2016.
About Endomines
Endomines is a gold concentrate producer with mining, development and exploration operations in Eastern Finland along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area. Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).
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
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