Endomines AB: Pampalo Q1/2012 production statistics and progress report
(Thomson Reuters ONE) -
The press release including tables can be downloaded from the following link:
Pampalo Q1/2012 production statistics and progress report
Endomines AB releases its First Quarter 2012 (ending March 31, 2011) production
results for its Pampalo Gold Mine, located near Ilomantsi, in Eastern Finland.
The mine produced 165.7 kg, or 5,326 oz, of gold during the period.
Pampalo Q1/2012 Production Results[1]
+---------------------------+-------+
| |Q1/2012|
+---------------------------+-------+
|Tonnes mined | 61 134|
+---------------------------+-------+
|Tonnes processed | 61 596|
+---------------------------+-------+
|Head grade (Au g/t) | 3.2|
+---------------------------+-------+
|Gold recovery (%) | 83.7|
+---------------------------+-------+
|Hourly utilization (%) | 86.5|
+---------------------------+-------+
|Gold produced kg | 165.7|
+---------------------------+-------+
|Gold produced oz | 5 326|
+---------------------------+-------+
|LTIFR[2] (12 month rolling)| 16|
+---------------------------+-------+
"We maintained our original mining plan during January and February, sourcing
ore from low grade areas. This low grade ore, coupled with some technical
problems mainly in the crushing circuit, resulted in a lower than planned gold
production for the whole period. Although March production has been better than
anticipated, it will not totally compensate for the lower levels of production
in the beginning of the year. We now expect to have an improved head grade for
the next few quarters", comments Markus Ekberg, CEO of Endomines.
For further information, please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50
or visit the Company's website at www.endomines.com
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 has several other gold and industrial mineral properties at various
stages of development. All Endomines' mineral assets are located in Finland,
which is politically stable, has a highly developed infrastructure and is ranked
as one of the most favorable jurisdictions for the mining industry.
Endomines aims to increase shareholder value by developing its strong portfolio
of assets as well as exploring new deposits on the Karelian Gold Line and in
Finnish Lapland. The company will also consider new opportunities and
acquisitions for further growth.
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 also 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.
Endomines applies International Financial Reporting Standards (IFRS) as approved
by the European Union.
The shares of Endomines AB are quoted on the First North Premier segment in
Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag acts as Certified
Adviser and Liquidity Provider.
Read more about Endomines on www.endomines.com
-----
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 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 23 May 2012.
[2] LTIFR = The Lost Time Injury Frequency Rate (LTIFR) is based on reported
lost time injuries resulting in one day/shift or more off work per 1,000,000
hours worked.
Pampalo Q1/2012 production statistics and progress report:
http://hugin.info/138043/R/1600436/505186.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Endomines AB via Thomson Reuters ONE
[HUG#1600436]
Unternehmensinformation / Kurzprofil:
Datum: 05.04.2012 - 11:01 Uhr
Sprache: Deutsch
News-ID 132396
Anzahl Zeichen: 6563
contact information:
Town:
Stockholm
Kategorie:
Business News
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