Investment Highlights
- Advanced Gold Project in Europe: The Laiva Gold Mine in Central Karelia, Finland, hosts a measured and indicated resource of approximately 2 million ounces of gold (SRK, historical).
- Complete Infrastructure: The mine features a modern 6,000-tonne-per-day processing plant, one of Europe’s largest gold facilities.
- Clear Production Plan: Production is scheduled to commence in 2025, with a target of 50,000 ounces in the first year and an increase to 80,000 ounces per annum in the medium term.
- Cost-Efficient Operation: Expected All-in Sustaining Costs (AISC) of approximately $1,450 per ounce.
- Strong Management Team: Over 100 years of combined experience in international mining, plant operations, and capital markets.
- Financial Strength: Successful oversubscribed private placement of over CAD 8 million (August 2025) and planned listing via Reverse Takeover (CSE) with Edgemont Gold Corp.
Company Strategy
Laiva Gold Inc. is a Canadian mining company based in Edmonton, Alberta, which, through a Finnish subsidiary, owns 100% of the Laiva Gold Mine near Raahe, Finland. The company was formed in early 2023 through the spin-out from Pilar Gold Inc. and focuses on the recommissioning and sustainable production of its flagship project in an established European mining region.
Laiva Gold’s strategy is based on three pillars:
- Rapid Reactivation of an Existing Asset: Utilizing the fully constructed infrastructure to minimize investment risks and lead times.
- Efficient Production Ramp-up: Planned ramp-up to 80,000 ounces per year at competitive costs.
- Value Enhancement through Expansion: Potential for resource expansion within the existing license area and through regional exploration.
Long-term, Laiva aims for a position as a leading gold producer in Northern Europe. The planned listing via a Reverse Takeover transaction with Edgemont Gold Corp. (CSE: EDGM) is intended to facilitate access to capital markets and accelerate growth.
Market Environment
Gold Market and Price Dynamics
The price of gold has benefited in recent years from macroeconomic uncertainties, rising inflation, and geopolitical tensions. For producers with a stable cost structure, this environment offers attractive margins. With an AISC of approximately $1,450 per ounce, Laiva Gold is positioned in a profitable segment, particularly within the European context with robust regulatory frameworks.
Finland’s Location Advantage
Finland is among the world’s most mining-friendly countries, boasting high political stability, excellent infrastructure, and a transparent legal framework. The region around Raahe is industrially characterized, features high-level road, energy, and logistics connections, and is considered an environmentally responsible mining location.
Energy supply is provided via one of Europe’s most reliable power grids, allowing Laiva to benefit from low power outages and predictable supply – a crucial advantage over remote projects in resource-rich but unstable regions.
Project Portfolio
The Laiva Gold Project
Fig. 1: Location of the Laiva Gold Mine in Finland
The Laiva Gold Mine is an open-pit operation near the city of Raahe in Central Karelia (Finland). According to an SRK study, it hosts a historical resource of 2 million ounces of gold (measured and indicated) and is fully equipped with operational infrastructure that allows for the annual processing of up to 2.2 million tonnes of ore.
Production is scheduled to commence in 2025. In the first year, production of
Infrastructure
Laiva possesses fully developed infrastructure, which was constructed by Nordic Mines during 2010–2012.
The processing plant is fully covered to ensure operation even during the long Finnish winters and utilizes equipment from leading manufacturers such as Metso Outotec and FLSmidth Co.
Processing is carried out using two mills (autogenous and pebble mills), which together can process 6,000 tonnes of ore per day.
Gold is recovered through a multi-stage process consisting of gravity separation and CIL high- and low-grade circuits.
Residues from the low-grade circuit are directed to the tailings pond after treatment via a Paste Thickener, while high-grade residues are discharged directly into a separate pond.
This system meets modern ESG and environmental standards with regard to water treatment and waste management.
Geology and Mineralization
The deposit is located in the Laivakangas orogenic gold province, part of the Raahe-Ladoga Shear Zone, which extends over 450 km through Southern Finland and is associated with the Svecofennian Orogeny (~1.9 Ga).
The host rock primarily consists of medium-grained quartz diorite, where gold mineralization occurs in quartz veins and silicified shear zones.
These structures range in thickness from a few centimeters to 10 meters and contain, in addition to quartz, arsenopyrite, chalcopyrite, and other sulfide minerals.
Gold primarily occurs as fine inclusions in arsenopyrite and quartz, partly also as Maldonite (Au₂Bi).
The mineralization is laterally continuous, structurally controlled, and hydrothermally overprinted – ideal geological conditions for scalable gold production.
Current Developments and Financing
On August 8, 2025, Laiva Gold announced the closing of an oversubscribed private placement totaling CAD 8.04 million.
The offering comprised over 10 million units at CAD 0.80 each, consisting of one common share and one-half warrant (exercise price: CAD 1.20, term: 18 months).
The proceeds from the offering will finance the recommissioning of the mine and the preparation for the listing via Reverse Takeover with Edgemont Gold Corp. (CSE: EDGM).
This transaction marks a decisive step in Laiva Gold’s transformation into a publicly listed European gold producer.
Management
Laiva Gold is led by an experienced team of international mining, finance, and technical experts.
Management Team in Finland
- Jim Jackson – Operations Manager: Over 20 years of experience in mining and plant construction, including for BHP, Placer Dome Porgera, and Newcrest (Telfer).
- Hanna Rannikko – CFO Finland: Over 13 years of experience in mine finance, formerly at the Kevitsa Mine, responsible for controlling and financial management.
- Raymond Blount – Commercial Executive: Specialist in Procurement and Supply Chain Management, over 30 years of experience in building and implementing ERP and BI systems.
- Toni Juven – Engineering Manager: Dual degree in Mechanical and Civil Engineering, more than 10 years of experience in leadership positions at the Laiva Mine.
- Percy Scholz – Mining Manager: Over 20 years of experience in open-pit mining, including at South Africa’s largest iron ore mine, Sishen.
- Juha Tiainen – Regional Manager: Responsible for permitting and site coordination (profile to follow).
Board of Directors Corporate Board
- John Williamson – CEO Director: Over 35 years of experience in global mining, founder of the Metals Group of Companies, responsible for over CAD 1 billion in capital raising for more than 20 projects worldwide.
- Sean Mager – CFO: 30 years of experience in finance and corporate development, co-founder of the Metals Group.
- Charles Chebry – President Director: CPA and experienced TSXV manager with a strong background in the international commodities sector.
- Jeremy Yaseniuk – Corporate Development: Over 20 years of experience in capital markets, having directly raised over CAD 25 million and participated in over a dozen IPOs.
The management combines on-site technical excellence with capital market experience in Canada – a combination crucial for successfully guiding Laiva through its next development phases.
Outlook
The next milestones for Laiva Gold are clearly defined:
- Completion of the Reverse Takeover transaction with Edgemont Gold Corp. and listing on the CSE.
- Commencement of the recommissioning of the Laiva Mine and optimization of process facilities.
- Production start in 2025 with a planned annual output of 50,000 ounces of gold.
- Exploration programs for resource expansion and geological reinterpretation.
- Evaluation of additional acquisition opportunities in the European region.
With a solid capital base and fully developed infrastructure, Laiva Gold has the potential to rapidly establish itself as a reliable gold producer with stable margins.
Conclusion
Laiva Gold Inc. stands on the threshold of recommissioning one of Europe’s largest gold facilities. The project in Finland combines existing infrastructure, a significant resource, modern technology, and an experienced management team.
Through the planned listing and secured financing, the company is strategically well-positioned to commence sustainable gold production from 2025. In the current market environment, characterized by geopolitical uncertainty and growing investor demand for safe haven assets, Laiva Gold offers a fundamental investment story:
An advanced, cost-efficient gold project in a stable, ESG-compliant European country with short-term production potential and long-term growth prospects.
