TSX-V-listed Nordic Gold has completed the first gold pour at its Laiva mine, in Finland, which president and CEO Michael Hepworth said on Monday was a “critical, but vital” step in returning the mine to commercial production.
A total of 1 234 oz of doré was poured.
Nordic, at the time still known as Firesteel Resources, bought the mine in December last year for $25-million in cash and shares. In October, it received approval for start-up and mining started in early August.
“The last 18 months have been focused on using past production data and learning from this information. Many fixes have been implemented and as we move towards commercial production further improvements will be implemented to ensure appropriate economics and efficiencies.
“From care and maintenance to production in around 11 months is something everyone can be very proud of,” commented Hepworth.
Laiva will produce an average of 75 981 oz/y at a cash cost of $863/oz and an all-in sustaining cost of $974/oz.
It has measured and indicated resources of 355 000 t at 1.1 g/t and indicated resources of 3.4-million tonnes at 1.2 g/t.