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Financial targets and outlook

We expect the production of gold to increase by 35–55% at Pampalo from 2022.

No production is expected to take place at the Friday mine.

We expect our financial performance to improve considerably from 2022 for the following reasons:

  •  The positive development of energy prices and their positive outlook for 2023
  • The positive development of the price of gold and its strong future outlook
  •  Lower production costs in the mine, especially during June–December
  • The positive impact of higher production levels on unit costs.

The ESG programme guides the development of our company in various areas. During 2023, we will also start measures to reduce our carbon footprint. We are aiming for a 5% reduction in our CO2 emissions (Scope 1 and Scope 2) during 2023 (CO2 per ounce of gold produced).

Ore exploration at the Karelian gold line is an important part of our future operations. During the year, we will actively engage in ore exploration through the reprocessing of old material, till samples and drilling.