Ready For Production
Company Exposure: Gold
Project Locations: Finland
Nordic Gold Inc. (TSXV:NOR) wholly owns the Laiva Gold Mine. The Laiva Gold Mine is a fully permitted open pit operation with a 2 million tonne per annum process plant in place and two open pits. The sunk capital of the project to date is in excess of CAD 300 million, the majority being spent on the state of the art process plant built by Metso and Outotec. The mine is fully permitted and ready for production.
The Company recently replaced the Board of Directors and Management and replaced them with Lionsbridge. New management brings a plethora of experience and expertise both on a corporate level and technical level, having owned and operated mining operations globally.
Since new management have taken control of the Company we have worked closely with Pandion to restructure the stressed debt instrument into a sustainable settlement that will allow the project to return to production and unlock shareholder value. Pandion have provided ongoing support to the Company during that time including total investment of $6 million that will not be recouped outside of the settlement.
The Company has published an updated technical report with 379,478 ozs @ 1.55 in Measured and Indicated resources with a total resource of ~1.6 million ozs at 1.53 g/t.