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Dear Shareholders and Interested Parties,

You are invited to visit our Laiva Gold mine in Finland on Thursday June 29. The trip will give investors a chance to see the scale of the Laiva operation and its significant leverage to a rising gold price. So far we have 6 guests registered and could not think of a better time of the year to visit this beautiful country as we restart operations.


On the following day, Sandvik have kindly invited us to tour their factory in Tampere. It will be an early start on the 6.09 am train from Laiva and a fantastic opportunity to see their world class equipment being made and tour their state-of-the-art Test Mine.  


In Brazil, Pilar uses a lot of Sandvik equipment for its underground mining operations.

Pilar’s GM, Israel Oliveira will be leading this part of the tour as we look to acquire new Jumbos, Fandrills and LHD´s to help us grow from 45,000 ounces a year to 125,000 ounces by 2025. In Finland, our near term goal is achieve 50,000 ounces in 2024 and 80,000 ounces by 2025.  


Paulo Aguirre, Roberto Cobra, Richard Crew and Ramon Lima will also be joining us from Brazil helping Jim and team restart Laiva.


Click on the link for the full schedule. One option is to arrive at Helsinki by lunchtime on June 28 so you can join us on the 1:05 pm train from the Helsinki airport to Vihante (Raahe). Alternatively, if you want to arrive later in the day there are hourly flights from Helsinki to Oulu and we recommend you catch the 3.50pm flight and we will arrange transportation to Raahe, ~ one-hour drive.  Please coordinate your travel plans with our head of Investor Relations, Edward Balme, (Edward.Balme@LaivaGold.com).

Investor Visit to Laiva Gold Mine & Sandvik on 28th to 30th June 2023

Startup of Laiva may coincide with low electricity prices


As we prepare to restart operations this summer, there is good news with respect to operational costs. Since the recent commissioning of Finland´s new Olkiluoto 3 nuclear plant, electricity prices have fallen dramatically. In the last 7 days the price has averaged < 1 cent and last Tuesday it was just 1/20th of 1 cent. Seasonally, demand for electricity has also fallen as heaters are turned off but the impact of the new supply from Okiluoto 3 is significant.

Jim´s daily electricity price chart reflects this dramatic change. We had previously budgeted 8 cents/kWh in our cashflow forecasts, which represents ~$165 per ounce of our operating cost. Hopefully these prices will continue to remain much lower than our budget number as we head into production.


Let us know if you would like to join so we can reserve you 2 nights at the Raahen Hovi hotel in Raahe and book you a ticket on the Santa Claus Express – Europe´s best rail service.

Kind Regards,

Jeremy Gray | CEO
Jeremy.Gray@PilarGold.com

Jim Jackson | General Manager of Laiva Gold
Jim.Jackson@LaivaGold.com


Charles Chebry | President

Charles.Chebry@LaivaGold.com


Edward Balme | Head of IR

Edward.Balme@LaivaGold.com

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