Pampalo Q1/2013 production statistics and progress report
Endomines AB publishes its First Quarter 2013 (ending March 31, 2012) production results for its Pampalo Gold Mine in Eastern Finland. The mine produced 180.4 kg or 5 800 oz, of gold during the period.
Pampalo Q1/2013 Production Results[1]:
| Q1/2012 | Q2/2012 | Q3/2012 | Q4/2012 | FY 2012 | Q1/2013 | |
| Tonnes mined (incl. open pit) | 61,134 | 57,718 | 61,988 | 69,950 | 250,790 | 90,386 |
| Tonnes processed | 61,596 | 64,730 | 64,177 | 59,446 | 249,949 | 58,856 |
| Head grade (Au g/t) | 3.2 | 4.4 | 3.2 | 5.4 | 4.0 | 3.5 |
| Gold recovery (%) | 85.6 | 86.6 | 85,5 | 87.2 | 86.1 | 88.4 |
| Hourly utilization (%) | 86.5 | 94.2 | 95.0 | 88.1 | 91.0 | 88.8 |
| Gold produced kg | 168.8 | 244.5 | 175.8 | 277.4 | 866.5 | 180.4 |
| Gold produced oz | 5,427 | 7,862 | 5,652 | 8,919 | 27,860 | 5,800 |
| LTIFR[2] (12 month rolling) | 16 | 11 | 10 | 9 | 9 | 0 |
“As earlier announced production during the quarter was lower than the record breaking Q4/2012. The main reason for this was that production was derived from the low grade areas as planned and the increased processing capacity was not yet utilized. Whole year production guidance remains between 900 – 1 000 kg”, comments Markus Ekberg, CEO of Endomines.
“We can be proud of the results of our continuous safety improvement works as we have achieved our goal of zero-accidents at the Pampalo Gold mine. Our own workforce has now worked 720 days without accidents and our contractors 370 days”, continues Markus Ekberg, CEO of Endomines.
The Pampalo processing plant capacity expansion project has now been completed and all equipment is in use. Fine tuning of the equipment and balancing of the process continues next few weeks.
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
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 4th, 2013.
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.
The shares of Endomines AB are quoted on NASDAQ OMX Stockholm under ticker ENDO.ST. Pareto Öhman acts as Liquidity Provider.
Read more about Endomines on www.endomines.com
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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.
[1] Production figures for Q1/2013 are based on company own assaying and not confirmed by any external laboratory. Figures are individually rounded. Cash Cost USD/oz will be published in the Q1-report, due on 23rd April 2013.
[2] LTIFR = The Lost Time Injury Frequency Rate (LTIFR) 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.