Latitude 66's KSB Gold-Cobalt Project Confirmed as US$485M High-Margin Asset

Latitude 66 has confirmed its KSB Gold-Cobalt Project in Northern Finland as a standout, high-margin asset. A scoping study completed by the company projects a post-tax net present value of US$485 million and an internal rate of return of 85%. This is based on base-case assumptions for gold prices. However, using higher spot-price estimates, the project's potential grows to US$753 million.

The KSB Project aims to produce an average of 65,000 ounces of gold and 475 tonnes of cobalt in concentrate each year, with an initial capital expenditure estimate of US$130 million. The company plans to transition directly into a prefeasibility study to explore operational enhancements and regional expansion.

Latitude 66 Managing Director Grant Coyle stated that the project features low capital intensity and a rapid payback period based on current gold prices. He highlighted its 'standout, high-margin asset' status, which is a testament to the company's efforts in exploring and developing the KSB Project.