Pampalo Q3/2011 production statistics and progress report
(Thomson Reuters ONE) -
The press release including tables can be downloaded from the following link:
Press release (PDF)
Endomines AB releases its Third Quarter (ending September 30, 2011) production
results and 2011 gold production guidance for its Pampalo Gold Mine. The Q3/2011
production figures are as follows:
Pampalo 2011 Production[1]
+---------------------------+-------+-------+-------+-------+
| |Q1/2011|Q2/2011|Q3/2011| YTD|
+---------------------------+-------+-------+-------+-------+
|Tonnes mined | 25,382| 44,050| 49,441|118,873|
+---------------------------+-------+-------+-------+-------+
|Tonnes processed | 35,797| 53,169| 56,915|145,881|
+---------------------------+-------+-------+-------+-------+
|Head grade (Au g/t) | 3.5| 3.1| 3.7| 3.5|
+---------------------------+-------+-------+-------+-------+
|Hourly utilization (%) | 63.4| 90.5| 88.1| 87.7|
+---------------------------+-------+-------+-------+-------+
|Gold recovery (%) | 83.8| 87.0| 86.7| 86.4|
+---------------------------+-------+-------+-------+-------+
|Gold produced kg | 105.4| 144.7| 184.8| 434.9|
+---------------------------+-------+-------+-------+-------+
|Gold produced oz | 3,390| 4,651| 5,940| 13,981|
+---------------------------+-------+-------+-------+-------+
|LTIFR[2] (12 month rolling)| 39.7| 50.0| 42.5| 42.5|
+---------------------------+-------+-------+-------+-------+
Markus Ekberg, Chief Executive of Endomines AB, comments:
"The Pampalo processing plant continues to show good production performance. We
are very satisfied by the plant utilization rate and throughput tonnage.
However, total Q3/2011 production figures were slightly below the initial target
due to the power line guarantee repair and maintenance shutdown in August as per
our press release on 6(th) of July 2011. Underground mine production tonnage was
below the target as the July cave-in continued to affect our underground
production schedule, but this was mitigated by a high head grade.
We are also pleased that we have reached an agreement with Sandvik on the
accelerated delivery of a new cable-bolting rig before the year-end. It will
replace the rig which was wrecked in the July incident. Meanwhile, ground
support is provided by a contractor. Endomines will also take delivery of a new
drifting jumbo in November, which will speed up underground development work and
allow for the rapid opening of new production areas in the underground mine.
Endomines maintains its 2011 gold production guidance of 550-600 kg for the full
year 2011."
For further information, please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50
or visit the Company's website atwww.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, addressing 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-Q2 are final figures while production figures for
Q3 are based on company own assaying and not confirmed by any external
laboratory. Cash Cost USD/oz will be published in the Q3-raport, due on 14(th)
November 2011.
[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.
Press release (PDF):
http://hugin.info/138043/R/1552269/478223.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#1552269]
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2011 - 09:19 Uhr
Sprache: Deutsch
News-ID 72784
Anzahl Zeichen: 7552
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Pampalo Q3/2011 production statistics and progress report"
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