Endomines Finland Plc's operational update Jan-March 2024: Pampalo's gold production up 5.5 % compared to the corresponding period and 46.4 % compared to the previous quarter
Endomines Finland Plc - Stock Exchange Release - 3/4/2024, at 16.00 EET
Endomines Finland Plc's operational update Jan-March 2024: Pampalo's gold production up 5.5 % compared to the corresponding period and 46.4 % compared to the previous quarter
Pampalo's gold production increased by 5.5 % in January-March 2024, compared to the same period in 2023. The production in the first quarter was the best in 2023.
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Production during Q1/2024 was 117.7 kg (111.6 kg), in ounces 3,783 oz (3,588 oz) of gold.
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In 2023, Endomines produced 397.8 kg, in ounces 12,790 oz of gold.
Published production volumes are based on preliminary data, final figures may change slightly after final specifications have been received for all deliveries to customers. However, the change is not expected to be significant. For 2024, the company's production is expected to increase by 15-35% compared to the previous year, in line with the previous guidance.
"At the end of last year, we made significant changes to our production method and focused on preparatory work in the Hosko area. These changes had a negative impact on our production at the end of the year. It is great to notice that the work done is now yielding results and we are back on the growth path towards higher production levels. We believe that 2024 will be a good year in terms of production, and the growth of production will be supported by the exceptionally strong market situation for gold. In the beginning of the year, we have moved to levels in terms of the price of gold that have never been seen before," says Kari Vyhtinen, CEO of the company.
Endomines Finland Plc
Further information
Kari Vyhtinen, CEO, Endomines Finland Plc
[email protected], +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.
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