Firesteel Resources CEO Michael Hepworth - Stockhouse Media from Stockhouse Publishing Ltd. on Vimeo.
In this interview, Firesteel Resources (TSX: V.FTR, Forum) CEO Michael Hepworth discusses recent activities at The Laiva deposit located in Raahe, Finland (one of the largest gold resources in the region), and the future direction of the project.
The mine is a conventional open pit mine with 2 pits. All mining infrastructure currently in place, the mine is planed to re-open in 2018. With a fully built, fully financed, fully permitted past producing gold mine in Finland - the full potential is yet to be realized.
In addition, Finland was declared as World’s 6th best country for property rights. (Forbes Dec 2016), ahead of Canada and USA. Finland has a 20% Corporate Tax rate and gold producers pay 0.15% Royalty.
Exploration in the Laiva area started in 2005. Previously the area was worked by both Endomines Oy and Outokumpu. The operation includes two pits and a recently constructed 6,000 tpd, state-of-the-art process plant designed by Metso and constructed by Outotec. Historic expenditure on the property is estimated at €220 million. The mill and leaching plant was completed completed in 2011. Mining at the property was initiated in Q3 2011 and the first doré bar was cast in December that year.. The Company is listed on the Toronto Venture Exchange, symbol FTR.
“Firesteel Resources is a tiny gold company that seems to have caught a tiger by the tail." - Brien Lundin