Tickers: XTSX:NOR, PINX:FIEIF
Tags: Mining
Vancouver, BC / TheNewswire / January 16, 2019 - NORDIC GOLD INC. (TSX-V: NOR) ("Nordic" or the "Company") today announced that it has produced a total of 145.3kg of dore (4,100.22 ounces of gold) since the first pour on 30th November 2018.
38,5kg dore were produced at the 1st pour (1,028.91oz of gold) and 78kg of dore (1,981.3oz gold) was produced in December 2018, resulting in total 2018 production of 116.5kg of dore (3,010.2 oz of gold). To date, production in 2019 is 39.7kg of dore (1,090oz).
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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:
Michael Hepworth
President and Chief Executive Officer
(416) 419 5192
www.nordic.gold
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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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date those statements were prepared, the statements are not a guarantee of the Company's future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.
The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this new release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
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