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Thursday, 26th February 2009 (869 views)

Lappland Goldminers has announced that production is underway at one of its two gold mines.

According to the company, gold production has commenced at its Blaiken property and the company recently secured additional funding through a directed new share issue.

Kjell Larsson has been appointed Lappland Goldminers chief executive following an annual general meeting where new members were elected to its board of directors.

Publishing its results for the fourth quarter and full year 2008, Mr Larsson said that it had been an "eventful" year at the company with production now underway at the Pahtavaara and Blaiken gold mines.

"The cash flow from operations will fundamentally improve our ability to develop our unique portfolio of gold projects," he stated.

Lappland Goldminers reported a positive cash flow for the fourth quarter of the year.

The exploration and mining company is developing a portfolio of gold projects and processing plants in Sweden and Finland.

 

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