Endomines Finland Oyj

Endomines is a Finnish mining and exploration company focused on gold. The company has a production site in Pampalo, Eastern Finland, and conducts exploration activities along the Karelian Gold Line. Additionally, Endomines holds rights to seven gold deposits in the United States. The company is listed on the main list of the Helsinki Stock Exchange under the symbol PAMPALO.

Endomines is currently producing gold. Aim is to increase production volumes each year and in 2030 take the company into a new level in production (500-700 % growth from 2024). Endomines aims to develop the Karelian Gold Line into one of the world’s most significant responsible gold production areas. The area also contains EU-defined critical mineral, tungsten, and molybdenum. Endomines’ growth is based on utilizing known gold reserves along the Karelian Gold Line and verifying new mineral deposits. Endomines invests in active exploration, bringing new areas into production along the Karelian Gold Line, and promoting sustainability through an ambitious ESG program.
 

Management Profile

Kari Vyhtinen, CEO 
Kari has been the CEO of Endomines since March 2022. Prior to joining Endomines, Kari was the EVP of New Business at Nordkalk Corporation, leading the M&A, strategy and development activities. Prior to the EVP role, Kari was the COO of Nordkalk leading a function with 20 limestone factories. Nordkalk went through a transformation program with EBITDA improvement of approximately 40%. Prior to Nordkalk, Kari worked in domestic and international leadership roles. Kari earned a Master of Engineering from the Technical University of Helsinki and an eMBA from Aalto University in Finland. He started his career in Western Australia. 

What is your rationale for taking part in 121 Mining Investment?

Marketing Endomines and sustainably produced Finnish Gold.

What recent news would you like to highlight to investors attending?

August 29, 2025 - Promising results from drilling campaign, outcrop samples from the bedrock, and electromagnetic surveys at Ukkolanvaara

August 14, 2025 - Endomines Half-Year Business Review 1.1.2025–30.6.2025: Strategic changes accelerated revenue growth to 64 %

August 12, 2025 - New Drill Results from the Pampalo Mine Confirm the Continuation of a High-Grade Gold Zone at Upcoming Production Levels

July 7, 2025 - Endomines invests in domestic gold production by acquiring Power Mining Oy's Pampalo mining operations

What are your key goals for the next 3, 6 and 12 months?

3 Months

This year, we aim to complete the planned increase in our gold production by 12-54 % to 16,000 - 22,000 ounces. Additionally, we aim to significantly expand our drilling campaigns along Karelian Gold Line. We intend to further research the promising new Ukko deposit and carry out drilling operations in the Karelian Gold Line to increase the known gold resources in the region.

12 Months

Our goal is to steadily increase gold production each year, aiming to reach approximately 25,000 ounces by 2029. We also seek to gain more information about the Ukko deposit and further confirm its gold potential. Over the next year, we plan to grow our gold resources consistently, with the target of defining 1.5–2.0 million ounces of gold resources along the Karelian Gold Line by 2030. Furthermore, we are advancing our work towards sustainable mining in accordance with our ESG-program.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Key risks are related to time schedule in permitting. Endomines has permitted four mines in the area so the Company has extensive experience in permitting related issues. This risk is minimised by using the best available advisors and by reserving sufficient times for the tasks. Other key risk is related to fluctuations in gold pricing.

What do you think makes your company such a compelling investment?

1. Strong turnaround and growth underway
2. Growing gold reserves lay the groundwork for future production
3. Pampalo mine – profitable unit and backbone of growth
4. Critical minerals part of the updated strategy, ESG at the core – responsible and transparent production
5. Five-year target to increase gold production by 500-700 %

What are the top 3 key investor takeaways?

1. Strong turnaround and growth underway + growing gold market 
2. Growing gold reserves along the Karelian Gold Line 
3. Critical minerals part of the updated strategy