US$310m payday scoped for Latitude 66 Finland gold, cobalt project
Latitude 66 CEO Grant Coyle said: “Latitude 66 is extremely satisfied with the strong economy demonstrated by the discovere KSB study. The golden project has a significant rise potential due to the highly perspective exploration potential and low -content expansion options.
Latitude will have a great natural advantage with KSB, benefiting from the Finnish world-grade roads and water infrastructures together with access to the country’s ultra-emissions hydroelectric network. It is also in a jurisdiction that screams for its supply of critical metals.
According to the law of the European Union, cobalt is labeled as a strategic metal. The future production of KSB metal could represent up to 25 % of the internal production of European cobalt, putting latitude in the sights of buyers who try to support a non -Chinese supply.
With a geopolitical bargaining chip so important in its possession, the company says that it is likely to benefit from some significant EU government funding to help with its construction costs.
Latitude is also planning an aggressive short -term perforation campaign in several almost minimal objectives, where the previous sampling of rocky chip has collected degrees up to 490 g/t gold.
Management is confident that there is a lot of unstoppated potential waiting to be discovered close to the existing resource, which if not out, may require a bigger operation in the not too distant future.
The first studies have already discovered a compelling low -cost option to improve the 33 % plant to 1 million tons per year at a cost of 13 million dollars.
There is also the potential for underground mining in the Fossa K1, which will be explored in the prefecture studies that should start shortly. The ongoing metallurgical test work is conducted to see how the company could further increase cobalt’s recovery and explore a rarely rarely rise.
The results of the Scoping study seem to have demonstrated KSB as an extremely promising project for the exploration fish in a moment of roaring gold markets and cobalt on the radar.
High quality resources, strategic metals, solid economy and with a lot of detail exploration, Latitude seems to be sitting in the right space in a perfect moment.
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