We aim to grow the value of Endomines by developing our assets into economically profitable mines in keeping with sustainable mining practices. We also seek growth through mergers, acquisitions and other co-operative arrangements.
We aim to broaden our resource base by acquiring assets in stable jurisdictions, preferably with a relatively short time to production and with limited capital expenditure requirements. As the first step in early 2018, we completed the acquisition of TVL Gold, which holds rights to five gold projects in Idaho, USA. We anticipate to begin production at the first of the mines, Friday, within a year from the acquisition.
We are targeting to secure mining operations and growth in the long term also through exploration. Our current exploration activities are focused on the Karelian Gold Line, but with the expected positive cash flows from operations, we aim to expand our exploration programs also to areas close to our U.S. assets.
For investors, Endomines offers long-term growth and value accretion potential. As our ambitions are on growth, we do not envision paying dividends in the short to medium term.