Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Endomines is pleased to announce that its wholly owned subsidiary Endomines Oy has agreed on terms of an agreement to sell and deliver all of its flotation gold concentrate production from the Pampalo Gold Mine to Boliden Harjavalta, Finland.
The final agreement is expected to be signed within the next few weeks. The agreement will cover a period of one year. Deliveries according to the agreed terms have already started.
“I’m very pleased that we have succeeded in agreeing on terms of an off-take agreement. The agreement implicates trust from the customer side that Endomines will be able to deliver low impurities concentrate for smelting at Harjavalta smelter, Finland. We are very delighted to see that in the future our flotation gold concentrates will be treated at the sustainable and responsible operating flash smelter “, comments Markus Ekberg, CEO of Endomines.
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 13:30 CEST on June 29, 2016.
About Endomines
Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company’s first mine, Pampalo, started in February 2011. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
The Company’s operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin’s & FinnMin’s respective rules for reporting for public mining & exploration companies. The Company has 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 vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on Nasdaq Stockholm under ticker ENDO and on Nasdaq Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.
