Improving gold grade continues to boost Endomines gold production
Endomines reports production results for the first quarter of 2017. Total gold production amounted to 97.9 kg, which is significantly better as compared to Q1/2016. Gold production was well in line with increased gold production results achieved in the previous period. The mill throughput tonnage exceeded slightly the expectations for the reporting period but was slightly lower than in the previous period.
| Key production figures | Q1 | Q1 | Q2 | Q3 | Q4 | Rolling |
| 2017 | 2016 | 2016 | 2016 | 2016 | 12 mths | |
| Milled ore (tonnes) | 40 804 | 35 317 | 37 303 | 36 104 | 42 193 | 156 404 |
| Head grade (Au gram/tonne) | 2,9 | 2,1 | 2,4 | 2,7 | 3,1 | 2,8 |
| Gold recovery (%) | 83,6 | 80,2 | 82,8 | 85,3 | 83,0 | 83,7 |
| Hourly utilization (%) | 41,0 | 35,3 | 37,7 | 34,0 | 43,5 | 39,1 |
| Gold production (kg) | 97,9 | 58,5 | 73,7 | 83,0 | 109,8 | 364,3 |
| Gold production (oz) | 3 148 | 1 881 | 2 370 | 2 669 | 3 530 | 11 713 |
| LTIFR | 8 | 5 | 6 | 6 | 8 | 8 |
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
The main reason for the good gold production was the relatively high grade ore available for mining combined with successful selective mining performance during the reported period. The rather high head grade had a positive impact on the gold recovery at the mill.
Full quarterly report
An English summary of the full quarterly report will be published on April 27, 2017.
CONTACT PERSON
Markus Ekberg, CEO of Endomines AB, phone +358-40-706 48 50
E-mail: markus.ekberg(at)endomines.com
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 08:45 CET on APRIL 5, 2017.
-----------------------------------------------------------------------------------------------------------------------------------
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).
Tags: