Endomines AB is pleased to announce that its flagship operation Pampalo Gold mine has received a renewed environmental permit.
The permit was basically granted according to the Company�s application with some adjustments and specifications by the authorities.
The most important stipulations within the newly received permit are:
- The tailings area capacity can be increased so that processing and tailings of other Karelian Gold Line deposits is possible
- The permit will allow to increase the Pampalo processing plant capacity to 450 000 tonnes/annum
- The permit is valid until further notice and the company can implement the changes regardless of possible appeal process
Markus Ekberg, CEO of Endomines AB comments: �We are delighted that the permit decision has been granted basically according to our application with some adjustments. This is a clear indicator that Pampalo Gold mine operations are environmentally sound which the authorities have recognised. Our commitment for �Zero Harm� principle also for the environment is generating results�.
The environmental bond will increase by 20,000 EUR with the onset of the construction and by 300,000 EUR prior to the use of the new tailings area.
For further information.
Please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50
Or visit the Company�s home page: www.endomines.com
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 11:00 CEST on April27, 2015.
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. During 2014, Endomines initiated the production of ore from the mine in R�mepuro and is planning to start mining of the gold deposit in Hosko. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
The Company�s business practices and mining 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.