Endomines concludes an agreement for the construction of the Pampalo
Gold Mine power transmission li
(Thomson Reuters ONE) - The press release can be downloaded from the following link:Press Release PDFEndomines AB's wholly owned subsidiary Endomines Oy has signed anagreement with Empower Oy with regards to the construction of 46 kmlong power transmission line to the Pampalo Gold Mine.The 45 kV power transmission line will be commissioned before yearend 2010. This will enable test production at the gold mine as fromthe last quarter of 2010, followed by full- scale production from thefirst Quarter of 2011, as scheduled. Endomines Oy will be the soleowner of the power line.The power line will connect Pampalo Gold Mine site to the 110 kVnational power network. The power line will have enough capacity toallow further expansion at Pampalo processing plant up to 600 000tonnes/annum.Empower is a multinational service group delivering construction,maintenance and professional services within the energy, telecom andindustrial sector. Empower operates in Finland, Sweden, Estonia,Latvia and Lithuania. The group's turnover is 310 million euro andthe number of personnel totals 3,000."The signing of this agreement is another important milestone forEndomines, and ensures a production start-up at the Pampalo Gold Mineby the year end 2010 as planned," comments Markus Ekberg, CEO ofEndomines.For further information, please contact:Markus Ekberg, CEO, +358 40 706 4850During 2009, Endomines has completed several important steps todevelop the business from exploration to full-scale gold production.By the end of 2010, the company will commence production at thePampalo Gold Mine, with a projected output of 900-1 000 kg of goldper annum. Further deposits along the Karelian Gold Line will beexploited subsequently. Endomines has additional claims and miningconcessions in Finnish Lappland (gold), Ostrobothnia (ilmenite) andSouthern Finland (limestone/wollastonite).Endomines applies SveMin's & FinnMin's respective rules for reporting(public mining & exploration companies).Endomines has chosen toreport mineral resources and ore reserves according to JORC-code orto NI 43-101 which are internationally accepted. Endomines appliesthe International Financial Reporting Standards (IFRS), as approvedby the European Union. This increases the possibilities to comparethe Company with other international exploration- & mining companies.The shares of Endomines AB are quoted on First North Premier segmentin Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag actsas Certified Adviser and Liquidity Provider.Read more about Endomines on www.endomines.comhttp://hugin.info/138043/R/1357971/330493.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 30.11.2009 - 12:58 Uhr
Sprache: Deutsch
News-ID 9016
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Gold Mine power transmission li"
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