Nordic Gold wholly owns the Laiva Gold Mine. The Laiva Gold Mine is an open pit operation with a 2m tonne p.a. process plant in place. The sunk capital of the project to date is in excess of CAD 300 million, the majority being spent on the start of the art process plant built by Metso and Outotec. The mine is fully permitted and ready for production. The Company expects to publish an updated technical report with ~379,000 ozs in Measured & Indicated resources with a total resource of ~1.2 million ozs at 1.53 g/t. The updated report will be followed by a drill campaign to further expand the resource base and facilitate the opening of a further pit, totaling three.
Brian Wesson, President – Chief Executive Officer & Director
Mr. Brian Wesson has extensive experience spanning a career of over 30 years in the management, operation design and construction of natural resource operations globally. He qualified as an engineer in South Africa, gained an MBA in Australia, studied Economics at the University of South Africa and is a fellow of the Australasian Institute of Mining and Metallurgy and a fellow of the Australian Institute of Company Directors. Mr Wesson brings unique value in being highly experienced in both the corporate and technical aspects of managing a company; he understands natural resource companies from underground to the ‘board room’.
What is your rationale for attending 121 Mining Investment?
The Company is raising $7 million to complete the drill program, publish a feasibility level restart program, progress to production, general care and maintenance and working capital. A further capital raise to restart production will be completed in Q1 2020 with production to restart Q2 2020.