@Karo_Hamalainen and @Kari_Vyhtinen discussed the latest happenings and outlook for Endomines 
Production volumes are rising, and the price of gold is shooting through the roof. When both factors of the multiplication grow, gold miner and explorer Endomines cannot avoid a surging growth in revenue.
In the first quarter of the year, Endomines’ revenue grew by a staggering 77 percent. 7 million euros, or 38 percent of the revenue, trickled down to the bottom line.
”I am super satisfied,” says Endomines CEO Kari Vyhtinen.
This success has also been reflected in the stock price. In one year, Endomines’ share price has doubled, and compared to the figures from autumn 2023, it has tenfold.
Regarding the price of gold, Endomines can only enjoy the tailwind or suffer the headwind of the world market price, but production volumes are in its own hands. Last year, production volumes at the Pampalo mine decreased quarter by quarter, but at the beginning of this year, the mine hit a production record of 5,000 ounces of gold.
The explanation for both last year’s decline and the record at the beginning of the year is the same: last year, Endomines bought the underground mining operations from the subcontractor that previously operated it.
”Most of the personnel transferred to us, but not everyone did. We recruited new people, and it was surprisingly difficult. We also noticed that some of the equipment was not in top condition,” Vyhtinen explains. ”We bought three new machines immediately and changed the mine management. In December, it turned around.”
At the “Grill”, Kari Vyhtinen talks about, among other things, the largest drilling project in Endomines’ history, which aims to increase the amount of gold reserves to over one million ounces, and plans to significantly expand mine production. How will the project be financed? And what is the gold oracle’s estimate for the gold price development over the next year?
In collaboration with: Endomines