Endomines Signs Concentrate Sale Agreement
Endomines AB, Stock Exchange Release 12 March 2020 at 08:30 CET
Endomines AB (the “Company” or “Endomines”) is pleased to announce that it has signed an agreement with H&H Metals for the sale of gold concentrates produced from the Company’s Friday Mine (the “Project”) located in Idaho, USA, with an initial 20 WMT trial lot expected to be delivered in March, 2020. The total annual concentrate supply to H&H Metals is expected to contain between 12,000 and 15,000 ounces of payable gold. The Company will earn a 95% payable amount based on the gross value of the concentrate at spot prices, net of certain transportation and processing costs.
The agreement was signed following a series of detailed negotiations focused on achieving a mutually beneficial and workable agreement for both parties.
Greg Smith, CEO of Endomines, comments: “We are extremely pleased with this agreement with H&H Metals which secures a sales outlet for our gold concentrate, this represents long awaited cash flow for our Friday Mine, and we are looking forward to building a lasting relationship with H&H Metals.”
Contact person
Greg Smith, CEO, +44 7717 8809 23, greg.smith@endomines.com
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the contact persons set out above at 08:30 CET on 12 March 2020.
About Endomines
Endomines AB is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo and has exploration activities more broadly along the Karelian Gold Line in Eastern Finland. 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).
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