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Nordic Gold Provides Production Update
38,5kg doré were produced at the 1st pour (1,028.91oz of gold) and 78kg of doré (1,981.3oz gold) was produced in December 2018, resulting in total 2018 production of 116.5kg of doré (3,010.2 oz of gold). To date, production in 2019 is 39.7kg of doré (1,090oz).
Processing operations were shut down for planned maintenance. Certain parts of the mill liners were unavailable at start up, however it was decided to press ahead and produce gold. This decision was made to improve cash flow and a maintenance shutdown was planned accordingly. Gold sales provided $5,172,323 of additional cash.
The plant shut down ran from Tuesday 8th January 2019 to Monday 14th January 2019. During the shutdown 60,000 tonnes of high-grade ore was stockpiled.
Michael Hepworth, President and CEO of Nordic said: “The team at the mine has done an excellent job of restarting the mine. We now need to work towards building a profitable business. The next few months will be critical as we ramp up production. As with any mine start up there are many adjustments required to optimise performance and it will be several months before we reach optimal performance.”
Nordic also announced the resignation of David Forest as a director. Mr Forest resigned so as to avoid potential conflicts with other activities. The company thanks him for his service to the company and wishes him well in future endeavors.
For further information, please contact:
President and Chief Executive Officer
(416) 419 5192
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Swiss Resource Capital AG
About the Company
Nordic Gold Inc. is a junior mining company with a producing gold mine in Finland. The Laiva Gold Mine is fully built, fully permitted and financed via a gold forward sale agreement. The mine recommenced production in November 2018.
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