Nordic Gold (TSXV: NOR; US-OTC: FIEIF) recently poured first gold at its restarted Laiva gold mine in central Finland. Roughly 25 people attended the event where the company poured 1,234 oz. of doré.
“We were very happy with the results that we got,” Nordic Gold president and CEO Michael Hepworth says in a telephone interview with The Northern Miner. “The previous operator, when they were in production they were getting 80% gold, but the doré that we poured was 90% gold, so we beat past quality levels. This is not the biggest pour, but for a first pour were pretty comfortable with it.”
Before shutting down in early 2013, Laiva produced 75,000 oz. gold. Nordic Gold – formerly called Firesteel Resources – joint ventured the project from its former operator, Nordic Mines AB, in September 2017. Nordic Gold acquired an initial 60% of Laiva by investing $20 million in stages into the project. The company then bought out the remaining 40% interest in February 2018 by issuing Nordic Mines 66 million shares.
Since then, Nordic Gold has refurbished Laiva’s plant and tabled a preliminary economic assessment for the project.
Continue reading at The Northern Miner.