Laiva is Primed for a New Golden Dawn in Europe This Year

• Laiva’s fully permitted, previously producing mine is anchored by a state-of-the-art 6,000 tonne-per-day mill — Europe’s largest — that is now ready to roar back to life.
• With gold at record highs, Laiva delivers rare exposure to both near-term production and the large-scale upside of an underexplored orogenic gold system.
• Laiva is led by a veteran team known for unlocking value from overlooked assets, with a track record that includes building multi-million-ounce gold discoveries. It is steered by the co-founders of Metals Group Inc, John Williamson, Sean Mager and Jeremy Yaseniuk.

“We are one of just a handful of gold mines globally going into production in the near term. The Laiva gold mill is ready to return to operation in a few months...”
— Jeremy Yaseniuk, Business Development Director, Laiva Gold

With gold prices at historic highs, a new chapter is unfolding in Finland’s Middle Ostrobothnia Gold Belt, long regarded as one of Europe’s richest but least explored trove of precious metals.

In this ancient and mineral-rich geological domain, Laiva Gold Inc. is preparing to revive a world-class asset amid the unprecedented strength of the gold market and rising investor demand for near-term producers of the yellow metal.

“We are one of just a handful of gold mines globally going into production in the near term. The Laiva gold mill is ready to return to operation in a few months,” said Jeremy Yaseniuk, the company’s business development director.

What sets Laiva apart is not just the quality of its asset but the timing of its reawakening.

With gold prices sitting above US$3,300 per ounce and major institutions forecasting prices to exceed US$3,700 by 2026, Laiva Gold stands poised to deliver near-term production, substantial cash flow, and longer-term growth from a project that was once shelved.

At the core of the Laiva story is a fully permitted, previously producing mine site underpinned by a modern 6,000 tonne-per-day mill, built at a cost of more than US$400 million.

“In today’s environment, replicating this operation, from a fully intact mill to 3,600 completed drill holes, permitting, and all the ancillary work, would likely cost more than a billion dollars,” said Yaseniuk.

Yet, Laiva was acquired for a fraction of that cost.

The opportunity emerged in the aftermath of geopolitical upheaval, when Russian ownership left abruptly, creating a rare opening for new leadership to step in and reposition the project.

A swift reorganization followed. The incoming Laiva team is moving quickly to eliminate legacy debt, with only US$13 million outstanding. They took control of a site that had suffered not from flawed geology, but from contractor-driven cost inflation, and poor grade control. In other words, the bones of the operation were strong. It just needed a smarter playbook and competent execution.

Now, Laiva is months away from a formal restart. The company plans to bring the mill back online before the end of 2025, with first gold pours expected shortly after.

It is a rare feat in the mining sector to step into a project that is already built, permitted, and able to produce in a matter of months, said a capital market analyst.

“The previous operators had produced between 4,000 and 6,000 ounces of gold per month. With gold now fetching more than twice the price it did during earlier operations, Laiva expects to generate substantial cash flow from the outset,” said Yaseniuk.

But this isn’t just a production story. The team behind Laiva, has a track record of turning underappreciated deposits into major discoveries. Their previous ventures have all followed the same playbook. Acquire misunderstood orogenic gold systems, bring in modern geological thinking, and grow resources exponentially.

“In one case, the team grew a deposit from around 100,000 ounces to over four million. The same potential exists at Laiva,” said Yaseniuk.

Although the current resource at Laiva sits at just under one million ounces, earlier estimates placed it closer to two million. Internal analysis and reinterpretation suggest the deposit could eventually exceed several million ounces.

Much of the existing drilling only reached depths of 200 metres, while the ore body is believed to extend well below 200 metres. The company’s geologists have already identified multiple high-grade zones that were previously overlooked.

Laiva also holds over 6,000 hectares of prospective land with multiple geochemical anomalies yet to be tested. In addition to the two existing open pits, exploration is underway on a third zone that could eventually be folded into a single large-scale operation. Stockpiles of over three million tonnes of low-grade ore are already on site, offering further optionality in future mine planning.

The company is now advancing a reverse takeover transaction with Edgemont Gold and expects to list publicly in Canada in 2025. Its recent capital raise was priced at $0.80 per unit, with each unit including a warrant exercisable at $1.20. Upon completion, the post-money valuation is projected at approximately CAD$59 million.

According to Yaseniuk, the financing round was “very, very well received and we believed it will be oversubscribed shortly.”

“The mill was operating and breaking even and or losing a little bit of money at US$1,300 to US$1,500 gold price when it was also servicing over US$200 million in debt. So, if you did nothing else to the mill and just turned it on…it would be very profitable at the current gold price. Plus, now the majority of the debt is gone, and gold has doubled in price, and we’ve made some adjustments to the mill and mining methods,” he said.

Laiva is not trying to reinvent the wheel. It is executing a turnaround based on fundamentals and timing.

In a gold market defined by scarcity, where few shovel-ready assets remain and large producers are struggling to replace reserves, Laiva stands out as a rare near-term producer with long-term upside.

For investors looking to capitalize on rising gold prices without taking on early-stage risk, this is a story worth paying attention to.

The team behind Laiva has done it before. Now they have the chance to do it again on a much larger scale.

The Top Pick in Bermuda

Laiva Gold Inc. and Edgemont Gold Corp. (CSE: EDGM) have entered into a definitive merger agreement this month to complete a reverse takeover (RTO), resulting in Laiva becoming a publicly traded gold company on the Canadian Securities Exchange (CSE) under the name Laiva Gold Corporation.

Fresh off being named Top Pick at the CEM Bermuda Capital Event, Laiva Gold’s Business Development Director Jeremy Yaseniuk shares why the company isn’t just built for a restart, but for sustained value creation in a rising gold market.

What went wrong at Laiva the first time, and why are you confident it’ll succeed now?

The mine didn’t fail because the gold wasn’t there. It failed because of how it was run. The previous owners were using contractors who were paid by the tonne of rock they brought to the mill, which led to serious problems with grade control. That’s a huge red flag in any gold operation. The contractor had zero interest in grade control… they were just pushing material through the mill.

So, it was a good asset with bad execution. We’re changing that completely. This time, we own the fleet, we control the pit, and we’re applying modern modeling and blast tracking.

We know how to model. We know how to drill. We know how to operate.

And that’s exactly what we’re doing, nothing flashy, just fundamentals done right. And when I say “we” … I mean the team ... I am surrounded with smart people.

You’ve had success scaling up deposits before. Do you see that kind of potential here?

Absolutely. We’ve been down this path before… Benchmark started at 100,000 ounces and now it’s over 4 million. At Laiva, most historical drilling only went down 200 metres, but we know the system runs deeper. There’s huge upside with modern reinterpretation.

There’s also 6,000 hectares of land, multiple anomalies, and a third target area already showing promise. We’re confident there’s a multi-million-ounce system here … the signs are all over the drill data.

If you ran it the way it was, you’d still have a profitable business. But with what we know now, we think the resource could be significantly larger.

How soon can Laiva be in production and what does early cash flow look like?

We’re working with Finnish authorities to have the mill turned back on before the end of 2025. This isn’t a five-year plan. The infrastructure is already built, permitted, and maintained. And we have over three million tonnes of stockpiled material we can feed the mill with almost immediately. We could be pouring gold within months of turning the switch. If you did nothing else and just turned it on ... you could probably operate north of $1,500 an ounce and make money. The company has a well-built, technically sound facility in one of the world’s best mining jurisdictions. Finland offers political stability, a supportive permitting regime, and easy access to infrastructure. The Laiva site is just minutes from tidewater, which gives us logistics and environmental advantages that are incredibly difficult to replicate anywhere else.

Our View

• A Fully Built, Permitted Mine in a Bull Market for Gold
  Laiva offers what few juniors can: a billion-dollar mill in today’s dollars, fully permitted and production-ready, acquired for a fraction of its replacement cost. With gold above US$3,300 and forecasts pointing higher, Laiva’s ability to pour gold within months positions it as a rare near-term cash flow opportunity.
• Untapped Exploration Upside in One of Europe’s Richest Mineral Belts
  While the current resource sits under one million ounces, historic estimates and new modelling suggest it could exceed several million ounces. With over 6,000 hectares of prospective ground, a third target zone underway, and historical drilling mostly limited to 200 metres, Laiva’s upside lies not just in production, but in redefining the scale of the entire district.
• Proven Team with a Playbook That Works
  The group behind Laiva has delivered before, turning early-stage discoveries into multi-million-ounce stories with major re-ratings. At Laiva, they’ve inherited infrastructure and geology with real scale, and their focus on operational control, modelling, and exploration strategy gives this restart strong odds of success.

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