|
 |
|
|
| |
 |
|
| |
|
|
| |
|
In northern Finland, we are leveraging our technical skills and working to replicate our success in extracting gold and adding value, in a region that is strikingly similar to our base in northwestern Quebec. |
|
|
|
| |
|
|
| |
|
The company has been active in northern Finland since 2004, when we took an equity position in the company that owned the 15-kilometre long property containing the Kittila gold deposit. In 2005, we gained 100% ownership. In addition to having similar climate, topography and geology to that of the Abitibi region of Quebec, the Kittila region boasts existing infrastructure including an international airport, a qualified labour pool and a supportive local government.
Construction of the Kittila mine began in 2006. We expect to achieve production using conventional milling technology and drawing on the combined expertise of local and long-term employees. We fully anticipate that Kittila will become one of the largest producing gold mines in Europe.
We are also looking for new opportunities in the region. From day one, we have pursued an aggressive exploration program and will continue to do so. Our expansive property in Finland is still in the early stages of exploration, with numerous targets of interest outside of the current gold reserve and resource envelopes. We are confident in the reserve growth potential of the property and will work hard to realize it. |
|
| |
|
|
| |
kittila |
|
| |
|
|
| |
| > |
Probable gold reserves of 3.0 million ounces |
| > |
Estimated gold production averaging 150,000 ounces per year over a 13-year mine life |
| > |
Expected total cash costs averaging $300 per ounce |
| > |
$100 million invested to year-end 2007, estimated $90 million more to completion in 2008 |
|
|
|
|
|
|
|
| |
|
|
| |
Scheduled to begin production in late 2008, the mine will initially source its ore by way of open pit followed by underground mining via ramp access. The operation will feed a 3,000-tonne-per-day surface processing plant. In 2007, we continued construction on a two-kilometre underground ramp that will enable us to accelerate exploration at greater depths. |
|
| |
|
|
| |
 |
|
| |
|
|
| |
Kittila deposit open at depth and along strike
2008 exploration budget of $7 million
Focused on deeper drilling below the main zone from the new underground ramp
Ongoing surface drilling to convert resources to reserves and extend the overall envelope
|
| |
|
|
|
