Endomines signs mining contracts for the Pampalo Gold Mine
(Thomson Reuters ONE) -
The press release can be downloaded from the following link:
Press Release PDF
Endomines AB is pleased to announce that its wholly owned subsidiary Endomines
Oy has signed all necessary contracts and agreements for the underground mine
development and gold ore production in Pampalo. The contracts will be
implemented in a timely manner to secure ore supply to the mill at the end of
2010 when the test production start-up is scheduled.
Production
Underground long-hole stoping will be done by Endomines' own workforce and
equipment. For that purpose Endomines Oy has signed a leasing agreement to
acquire an almost brand new Sandvik Solo DL 430-7C production rig. The rig will
be manned by Endomines' own experienced in-house drillers.
The underground mucking and haulage of ore to the surface by trucking will be
done by Minecon Oy, a well-known private mining contractor company in Finland.
Development
Underground mine development drifting in ore and waste rock will be done by
North Karelia Municipal Education and Training Consortium, under the supervision
of Endomines staff. The consortium will use Pampalo Gold Mine as a training
center for mining and underground civil construction trainees to be employed in
future by Endomines and other companies. Experienced miners will be responsible
for the work, and the brand new equipment from Atlas-Copco and Normet will be
used.
A contract for ventilation raise development has been signed with Tolarock Oy, a
subsidiary of Finnish construction group Lemminkäinen Oy. Implementation at the
site has already commenced.
Suomen Malmi Oy, a subsidiary of Drillcon AB, will continue underground infill
diamond drilling.
"I'm very pleased with this solution for the underground works. By keeping the
control of the critical long-hole drilling, we can guarantee the quality and
grade of the ore which will be fed to the processing plant. The construction
works are progressing as planned, even slightly ahead of schedule, and we have
successfully employed the necessary personnel to operate the underground mine
and processing plant" says Endomines' CEO Markus Ekberg.
For further information please contact:
CEO Markus Ekberg, Endomines AB, tel. +358 40 706 48 50
During 2009, Endomines has taken several important steps to develop the business
from exploration to full-scale gold production. By the end of 2010, the company
will commence production at the Pampalo Gold Mine, with a projected output of
900-1,000 kg of gold per annum. Other deposits along the Karelian Gold Line will
be exploited subsequently. Endomines has additional claims and mining
concessions in Finnish Lappland (gold), Ostrobothnia (ilmenite) and Southern
Finland (limestone/wollastonite).
Endomines applies SveMin's & FinnMin's respective rules for reporting (public
mining & exploration companies). Endomines has chosen to report mineral
resources and ore reserves according to JORC or NI 43-101-code, which are
internationally accepted. Endomines applies International Financial Reporting
Standards (IFRS), as approved by the European Union.
The shares of Endomines AB are quoted on 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
[HUG#1394778]
Press Release (PDF): http://hugin.info/138043/R/1394778/351728.pdf
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2010 - 05:12 Uhr
Sprache: Deutsch
News-ID 1011481
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
Stockholm
Phone:
Kategorie:
Business News
Anmerkungen:
Diese Pressemitteilung wurde bisher 91 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Endomines signs mining contracts for the Pampalo Gold Mine
"
steht unter der journalistisch-redaktionellen Verantwortung von
Endomines AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
