Project Vendors – 30%
Canaccord Nominees – 30%
Pandion Mine Finance – 20%
Management ownership – 10%
Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The 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 start of the art process plant built by Metso and Outotec. The mine is fully permitted and ready for production.
Clyde Wesson – Vice President
Mr. Clyde Wesson has significant experience in all aspects of the management of corporate entities, both listed and unlisted. Clyde’s expertise includes the restructuring and recapitalising of distressed assets, corporate finance, design and execution of corporate strategy, legal management and bringing assets to market. Clyde holds bachelor’s degrees in both Law and Commerce (LLB, B.Com) and a Master’s of Law (LLM) from Melbourne University. He is a solicitor and member of the Supreme Court of NSW and a member of the Australian Institute of Company Directors, Australian Institute of Mining and Metallurgy and the Law Society of NSW.
What recent news would you like to highlight to investors attending?
OTSO group has announced a drawn-down equity financing facility of up to $8M CDN with Alumina Partners. These proceeds will allow Otso to continue the development of the 100% owned Otso Gold Mine back to production.
Otso Gold is a TSX-V-listed company that is recommending gold production at the Laiva deposit in Finland, one of the largest gold resources in the region.
Finland was declared as the world’s sixth-best country for property rights. (Forbes Dec 2016), ahead of Canada and USA. Finland has a 20% Corporate Tax rate and gold producers pay a 0.15% Royalty.
The Otso Gold Mine, near the town of Raahe in Finland, 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 start 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.
The company has published an updated technical report with ~379,478 oz @ 1.55 in Measured and Indicated resources with a total resource of ~1.6 million oz at 1.53 g/t.
The project PEA estimated 75,981 ounces of average annual gold production at a cash cost of $863 per ounce and AISC of $974 per ounce. Measured mineral resources are estimated at 355,000 tonnes at 1.132 g/t Au and Indicated mineral resources at 3,442,000 tonnes at 1.248 g/t Au, along with Inferred Resources of 9,030,000 tonnes at 1.531 g/t Au. Mill grade is estimated at 1.45 grams per tonne with a recovery of 90.4%, while Life of Mine production is estimated at 456,600 ounces gold over a 6-year mine life.
Otso recently announced a draw-down equity financing facility of up to CDN $8 million with Alumina Partners (Ontario) Ltd, an affiliate of Alumina Partners, LLC, a New York-based private equity firm that has made substantial investments in a broad range of publicly traded securities. The proceeds from the Draw-Down Facility will allow the company to continue the development of the Otso Gold Mine back to production.