Endomines has started gold production at Hosko production site
Endomines Finland Plc – Stock Exchange Release – 1.2.2024, at 12.00 EET
Endomines has started gold production at Hosko production site
Endomines has started gold production at the Hosko production site in the Karelian Gold Line. The company announced its plans to open the new production area in its Stock Exchange Releases on 24 May 2023, 20 June 2023, and 6 September 2023.
The company expects Hosko to account for 10–20% of total production in 2024. Mining will initially focus on areas with high gold content. Measured resources at Hosko are approximately 35,000 tons at a grade of 4.1 g/t gold. The total mineral resources of Hosko are approximately 950,000 tons at a grade of 1.2 g/t gold, or approximately 36,300 ounces of gold. The area also has significant mineral exploration potential.
"I am pleased to say that the next step in our growth strategy has now been taken. With the new Hosko mine, we are moving forward systematically towards more extensive operations in the Karelian Gold Line. With more production sites, we are also less dependent on the production of a single site, which will bring better production stability. The global market price of gold has been at a very high level at the beginning of 2024, creating an excellent framework for the start-up of the new open pit. The gold ore from Hosko will be processed at the Pampalo processing plant, which still has enough capacity to meet our growing production needs" says Kari Vyhtinen, the company's CEO.
Further information
Kari Vyhtinen, CEO, Endomines Finland Plc
kari.vyhtinen@endomines.com, +358 40 585 0050
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.