Producer · Junior / Minor · Silver · Europe · USA
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Endomines Group Portfolio
Portfolio
Project information
As at 31 December 2025
Description
As at 31 December 2025
Helsinki-listed (PAMPALO) Finnish gold producer; group rollup covering Pampalo production segment (underground + open-pit gold ore + flotation concentrate sold to Boliden Commercial AB), Karelian Gold Line exploration segment (including Southern Gold Line development with Ukko discovery and Northern Gold Line including Kartitsa), and USA Operations (Idaho + Montana retained deposits; three Idaho deposits classified as held for sale at YE2025, divestment closed Feb 2026). 2025 was best year in company history: revenue MEUR 45.5 (+59%), EBITDA MEUR 16.3 (36% margin), net profit MEUR 7.3. 2026 guidance: gold production to grow 10-20% vs 16,630 oz in 2025. Strategy targets 70,000-100,000 oz/yr via Southern Gold Line by ~2030.
Portfolio Aggregate
Multiple effective dates
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Operating · 2 projects
Hosko Gold Mine
Asset
Project information
As at 31 December 2025
Description
As at 31 December 2025
Open-pit gold mine in Ilomantsi municipality, North Karelia, on the Karelian Gold Line. Ore is trucked to the Pampalo processing plant. Lower-grade open-pit ore in 2025 was the primary driver of the unit cost increase to EUR 1,432/oz. Hosko mine PP&E carrying value: MEUR 3.3 (2025) vs MEUR 1.8 (2024); additions MEUR 2.3 in 2025. Economic service life extends until end-2028; restoration of mining area expected to start in 2029. Covered by 1996 royalty agreement on Ilomantsi-area claims (max MEUR 2.5; nil paid in 2025).
Mining metrics
As at 31 December 2025
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Pampalo Gold Mine
Asset
Project information
As at 31 December 2025
Description
As at 31 December 2025
Flagship Finnish gold mine located in Pampalo, Ilomantsi municipality, at the heart of the Karelian Gold Line. Combined underground operation with on-site flotation concentrator selling all output to Boliden Commercial AB under multi-year offtake. 100% of group revenue is generated by the Pampalo Production segment (MEUR 45.5 in 2025). Underground mining business of Power Mining Oy acquired 1 Sep 2025 (MEUR 2.9 net assets, MEUR 0.9 first instalment) to internalise approximately 30 underground mining workers. Concentrator has unused capacity enabling year-on-year growth. Long-term production plan updated June 2025 extends economic life to end-2034 (previously end-2032); restoration of mining area expected to start 2035 at earliest. Mining mineral tax of MEUR 0.3 paid in 2025; estimated to rise to ~MEUR 2 in 2026 under increased value-based royalty. Two royalty agreements: 1996 Hosko-related (max MEUR 2.5) and 2006 Ilomantsi/Pampalo production-volume-based (1% of sales after threshold, max MEUR 1.5; threshold expected to be exceeded in spring 2026).
Mining metrics
Multiple effective dates
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Development · 1 project
Southern Gold Line
District · Feasibility
Project information
As at 31 December 2025
Description
As at 31 December 2025
Development-stage tungsten, molybdenum and gold project on the southern part of the Karelian Gold Line. Includes the Ukko gold discovery (most significant exploration result of 2025). EU Strategic Project status application submitted 16 January 2026; licensing process commenced January 2024. Goal is to commence production around 2030 at a new processing facility. Planned expansion would lift Endomines' annual gold production approximately five-fold from current 16,630 oz to 70,000-100,000 oz/yr (midpoint 85,000 oz), while also adding tungsten (critical defense industry raw material) and molybdenum (steel industry feedstock) production. Nature surveys completed in 2025 as part of EIA.
Mining metrics
As at 31 December 2025
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Exploration · 5 projects
US Grant
Asset · Exploration
Project information
As at 31 December 2025
Description
As at 31 December 2025
Retained Montana exploration asset adjacent to Kearsarge. Hosts a historical (non-compliant) resource containing approximately 4.5 million ounces of silver in addition to gold. Endomines has flagged the attractiveness of US Grant given the recent sharp rise in silver prices and is evaluating strategic alternatives for the remaining US portfolio while focusing strategically on Finland.
Mining metrics
As at 31 December 2025
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Reserves & resources — detail
As at 31 December 2025
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Kartitsa
Asset · Exploration
Project information
Description
Gold exploration target on the Northern Gold Line (Karelian Gold Line). Endomines characterised 2025 results from Kartitsa as 'highly encouraging' alongside the Ukko discovery on the Southern Gold Line. No quantified resource disclosed in the Annual Report.
Mining metrics
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Kearsarge
Asset · Exploration
Project information
Description
Retained Montana gold exploration asset. Described in Endomines' 2025 AR as offering the possibility of a large-scale gold operation; identified during the Idaho-sale negotiations as having particularly strong potential. Endomines has initiated an evaluation of strategic alternatives for its remaining US assets while strategic focus remains on Finland.
Mining metrics
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Ukko
Asset · Exploration
Project information
Description
Gold deposit discovered in 2025 on the Southern Gold Line. Described as the most significant exploration achievement of the year. Forms part of the Southern Gold Line development thesis (gold + tungsten + molybdenum) targeting ~2030 production start. No quantified resource disclosed in the Annual Report.
Mining metrics
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Karelian Gold Line Exploration
District · Exploration
Project information
As at 31 December 2025
Description
As at 31 December 2025
Group's exploration segment covering the Karelian Gold Line greenstone belt running through Ilomantsi municipality, Eastern Finland. Mineral resource exploration and evaluation expenses capitalised in Finland total MEUR 15.2 (2025) vs MEUR 10.9 (2024). 2025 exploration capex: MEUR 4.3. 2025 exploration fees paid to landowners ~MEUR 0.4. 2025 highlights: Ukko gold discovery on the Southern Gold Line (most significant achievement of the year) and encouraging Kartitsa results on the Northern Gold Line. 2026 exploration target: ~50,000 m drilling (more than double Endomines' historical record), with additional tungsten and molybdenum exploration alongside gold.
Mining metrics
Multiple effective dates
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Suspended · 4 projects
Buffalo Gulch
Asset · Suspended
Project information
As at 31 December 2025
Description
As at 31 December 2025
Gold deposit in Idaho, USA. Included alongside Friday and Deadwood in the 19 November 2025 sales agreement with Australian Yellowstone Mining Pty Ltd (total debt-free price AUD 20 million for three deposits). Classified as held for sale at 31 December 2025 under IFRS 5; sale completed February 2026 (post balance-sheet date). The transaction also included machinery and equipment of the deposits and transfer of the majority of Endomines' Idaho personnel.
Mining metrics
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Deadwood
Asset · Suspended
Project information
As at 31 December 2025
Description
As at 31 December 2025
Gold deposit in Idaho, USA. Included alongside Friday and Buffalo Gulch in the 19 November 2025 sales agreement with Australian Yellowstone Mining Pty Ltd (total debt-free price AUD 20 million for three deposits). Classified as held for sale at 31 December 2025 under IFRS 5; sale completed February 2026 (post balance-sheet date). Endomines retains two unnamed Idaho deposits and the Montana Kearsarge / US Grant assets after this divestiture.
Mining metrics
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Friday Gold Mine
Asset · Suspended
Project information
As at 31 December 2025
Description
As at 31 December 2025
Underground gold mine in Idaho, USA, held on care and maintenance. Classified as held for sale at 31 December 2025 under IFRS 5 following 19 November 2025 sales agreement with Australian Yellowstone Mining Pty Ltd (debt-free price AUD 20 million; five instalments). Sale completed February 2026 (post balance-sheet date). Friday mine asset comprises land and water, machinery and equipment plus environmental restoration provision; restoration expected to begin in 2032 at the earliest. Pre-divestment book value of intangibles + PP&E held for sale: MEUR 10.9; related provisions MEUR 0.8; impairment loss of MEUR 3.9 booked in USA segment in 2025.
Mining metrics
As at 31 December 2025
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Idaho Retained Deposits
Segment · Suspended
Project information
As at 31 December 2025
Description
As at 31 December 2025
Two unnamed Idaho gold deposits retained by Endomines after the November 2025 sale of Friday, Buffalo Gulch and Deadwood. Following the divestment Endomines retains four US deposits (two in Idaho, two in Montana). The company has initiated an evaluation of strategic alternatives for the remaining U.S. assets but strategic focus remains on Finland. Carrying value of remaining USA capitalised mineral resource exploration and evaluation expenses (Finland + USA grouping): USA MEUR 15.4 at YE2025 vs MEUR 27.6 at YE2024 (the decline reflecting reclassification of the three sold deposits to held-for-sale).
Mining metrics
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Reclamation · 1 project
Rämepuro
Asset · Reclamation
Project information
Description
Former Ilomantsi-area mine on the Karelian Gold Line; included in Endomines' environmental restoration cost provision alongside Pampalo, Hosko and Friday. No active production; carried for restoration obligations only.
Mining metrics
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Precious Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Precious metals
- Resources vs Reserves. Resources are geological estimates that could one day be mined; Reserves are the subset with a feasibility study and plausible positive economics. Measured → Indicated → Inferred describe increasing geological uncertainty; Proven → Probable are reserve labels from Measured/Indicated. Inferred resources are not convertible to reserves under most codes.
- Grade (g/t) is the headline number on gold/silver pages. High-grade is often above 5 g/t; >10 g/t is bonanza territory; below 1 g/t is bulk low-grade. Open-pit cut-offs are typically lower than underground.
- AISC (All-In Sustaining Cost) is direct cash costs + sustaining capex + royalties + corporate overhead + reclamation, per ounce produced. C1 strips sustaining capex and corporate overhead. Both are non-GAAP and defined differently across issuers.
- By-product credits. Polymetallic deposits credit by-product value against the main metal cost; negative AISC after credits does not mean the main metal is sold below cash cost.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Gold
Silver
Molybdenum
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
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