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Laiva gold mine project, Finland

20th July 2018

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Laiva gold mine project.

Location
The project is located near Raahe, Finland.

Client
Firesteel Resources.

Project Description
Laiva is a gold mine that has been on care and maintenance since 2014. 

The operation has a state-of-the art 6 000 t/d process plant. The mine is fully built, fully permitted and financed to production through a gold forward sale.

It has estimated measured mineral resources of 355 000 t grading 1.13 g/t gold and indicated mineral resources of 3.4-million tonnes grading 1.25 g/t gold. Inferred mineral resources are estimated at 9.03-million grading 1.53 g/t gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value of $91.54-million and an internal rate of return of 44.6%, with a payback of 1.7 years.

Value
Preproduction capital expenditure is estimated at $7.12-million.

Duration
Production is scheduled to start in the fourth quarter of 2018.

Latest Developments
Firesteel has identified several opportunities outside the scope of the mine plan studied in the PEA, which could further improve the mine plan and economics of the project.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Firesteel Resources, tel +1 647 799 3404 or email info@firesteelresources.com.

Edited by Creamer Media Reporter

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