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type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

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trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


notification-in-accordance-with-the-finnish-securities-market-act-chapter-9-5-and-6-wipunen-varainhallinta-ltds-holding-in-endomines-finland-plc-1

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title

isPremium

lang

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summary

companies

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Endomines Finland Plc is a Finnish mining company focused on gold production and exploration in the Karelian gold line in Eastern Finland. The company also owns the rights to seven gold deposits in the United States. Endomines produces gold for the jewellery and electronics industries, and creates value by converting natural resources into wealth, an investment, that remains sought after. Endomines is listed on the OMX Helsinki Main List (PAMPALO). www.endomines.com

@Karo_Hamalainen and @Kari_Vyhtinen discussed the latest happenings and outlook for Endomines                 Production volumes are rising, and the price of gold is shooting through the roof. When both factors of the multiplication grow, gold miner and explorer Endomines cannot avoid a surging growth in revenue. In the first quarter of the year, Endomines’ revenue grew by a staggering 77 percent. 7 million euros, or 38 percent of the revenue, trickled down to the bottom line. ”I am super satisfied,” says Endomines CEO Kari Vyhtinen. This success has also been reflected in the stock price. In one year, Endomines’ share price has doubled, and compared to the figures from autumn 2023, it has tenfold. Regarding the price of gold, Endomines can only enjoy the tailwind or suffer the headwind of the world market price, but production volumes are in its own hands. Last year, production volumes at the Pampalo mine decreased quarter by quarter, but at the beginning of this year, the mine hit a production record of 5,000 ounces of gold. The explanation for both last year’s decline and the record at the beginning of the year is the same: last year, Endomines bought the underground mining operations from the subcontractor that previously operated it. ”Most of the personnel transferred to us, but not everyone did. We recruited new people, and it was surprisingly difficult. We also noticed that some of the equipment was not in top condition,” Vyhtinen explains. ”We bought three new machines immediately and changed the mine management. In December, it turned around.” At the “Grill”, Kari Vyhtinen talks about, among other things, the largest drilling project in Endomines’ history, which aims to increase the amount of gold reserves to over one million ounces, and plans to significantly expand mine production. How will the project be financed? And what is the gold oracle’s estimate for the gold price development over the next year? In collaboration with: Endomines

The purchase price includes a clear premium that accounts for, among other things, the expected synergies from the transaction. The mentioned 280 USD/oz roughly corresponds to the level at which Rupert Resources was valued prior to the deal. With that quote, I aimed to illustrate that Endomines’ reserve-based valuation, relative to the company’s current reserves (Karelian Gold Line), is even higher than the reserve-based valuation of said transaction (approx. 675 USD/oz).

“the transaction’s reserve-based valuation is approximately 500 USD per ounce. This valuation is slightly below Endomines’ current reserve-based valuation” so 500 vs 280 = slightly?

Attached is a graph from the latest report regarding the sum-of-the-parts (SOTP) valuation. In my assessment, the main value drivers for Endomines are the Pampalo production cluster and the exploration potential of the Karelian Gold Line. The value of Pampalo is based on a cash flow model covering the production years 2026–2035. Regarding exploration, the valuation is based on expectations of the company’s future gold reserves. Currently, I rely on the midpoint of the company’s exploration target range (1.5-2.0 million ounces in 2030) and discount the value of the reserves (EV/Reserves 280 USD/oz) to the present, adjusted for exploration costs. The value of the US assets is based on their book value and a probability-weighted cash flow model of future payments from the Idaho deposits. I touched upon that Agnico deal in the Endomines Q1 preview: “Europe’s largest gold producer, Agnico Eagle, announced last month that it is consolidating the Central Lapland Greenstone Belt through three transactions (totaling approximately EUR 2.3 billion, excluding contingent additional consideration). When mirroring the purchase price (Rupert Resources’ share) against the gold reserves of Rupert Resources’ Ikkari project (4.2 million ounces, grade 2.18 g/t), the reserve-based valuation of the deal is approximately 500 USD per ounce. This valuation falls slightly below Endomines’ current reserve-based valuation, although Endomines already has the Pampalo mine in production and, in our view, significant near-term growth potential in reserves along the Karelian Gold Line.”

How is the sum of the parts calculated? Do the US mines have any value? The company’s current reserves, the market price of gold, EBITDA%, and soon to be an almost debt-free company. What are the future scenarios with investments and reserves as a backbone? Agnico paid 2.3 billion euros for land plots in Lapland including their reserves, without production facilities, and a massive drilling program is starting in the area. At a glance, it’s just as difficult to value the future or target price of, for example, Kamux or QT. Reserves are important, as they also provide continuity for operations. Additionally, inflation fears are rearing their head, and will more money be printed for the market as a variable when the wars eventually end. In principle, the price of gold should continue to rise, maintaining purchasing power.

Here are Atte’s comments regarding the Ukkolanvaara drilling results  Endomines published a press release on Wednesday regarding drilling results from Ukkolanvaara, located on the Southern Gold Line. In addition to strong drilling results in the northern part of the deposit, the results included individual promising drill holes from other parts of the deposit as well. The release does not lead to changes in our view of the company, but it supports our assessment that Endomines is progressing well towards its resource target of 1.5–2.0 million ounces.                   Inderes – 15 May 26              Endomines: Ukkolanvaaran kairaustulokset vahvistavat etenkin esiintymän...    Nyt julkaistut tulokset ovat mielestämme positiivisia erityisesti esiintymän pohjoisosassa, niin pitoisuuksien kuin etenkin pitkien lävistysten ansiosta.

Thank you for revenue formation clarification, Atte!

Endomines Finland

Endomines Finland Plc – Stock Exchange Release, Flagging Notification – 22/5/2026, at 14:15 EETNotification in accordance with the Finnish Securities Market Act Chapter 9, §5 and §6: Wipunen...

Endomines Finland Plc – Stock Exchange Release, Flagging Notification – 22/5/2026, at 14:15 EETNotification in accordance with the Finnish Securities Market Act Chapter 9, §5 and §6: Wipunen Varainhallinta Ltd’s holding in Endomines Finland PlcWipunen Varainhallinta Ltd has notified Endomines Finland Plc, that its holding of Endomines' shares and votes exceeded the 15% flagging disclosure limit on 22 May 2026.Wipunen Varainhallinta Ltd’s share according to the notification:<table><tbody><tr><td>&nbsp;</td><td align="right">% shares and votes&nbsp;</td><td align="right">% of shares and votes through financial instruments (total of 7.B)</td><td align="right">Total % of shares and votes(7.A + 7.B)</td><td align="right">Total number of shares and votes</td></tr><tr><td>Resulting situation on the date on which the threshold was crossed or reached</td><td align="right">15.29&nbsp;</td><td align="right">&nbsp;</td><td align="right">15.29&nbsp;</td><td align="right">5,866,263</td></tr><tr><td>Position of previous notification (if applicable)</td><td align="right">13.47</td><td align="right">&nbsp;</td><td align="right">13.47</td><td align="right">&nbsp;</td></tr></tbody></table>&nbsp;Notified details of the resulting situation on the date on which the threshold was crossed:Shares and votes<table><tbody><tr><td>Class / type of sharesISIN-code</td><td align="right">Number of shares and votes</td><td align="right">% of shares and votes</td></tr><tr><td>Direct(SMA 9:5)</td><td align="right">Indirect(SMA 9:6 and 9:7)</td><td align="right">Direct(SMA 9:5)</td><td align="right">Indirect(SMA 9:6 and 9:7)</td></tr><tr><td>FI4000508023</td><td align="right">5,866,263</td><td align="right">15.29</td><td align="right">&nbsp;</td><td align="right">&nbsp;</td></tr><tr><td>SUBTOTAL</td><td align="right">5,866,263</td><td align="right">15.29&nbsp;</td></tr></tbody></table>&nbsp;Financial instruments according to SMA 9:6a&nbsp;<table><tbody><tr><td>Type of financial instrument</td><td align="right">Expiration date</td><td align="right">Exercise / Conversion Period</td><td align="right">Physical or cash settlement</td><td align="right">Number of shares and voting rights</td><td align="right">% of shares and voting rights</td></tr><tr><td>n/a</td><td align="right">n/a</td><td align="right">n/a</td><td align="right">n/a</td><td align="right">n/a</td><td align="right">n/a</td></tr></tbody></table>The controlled undertakings through which the shares, voting rights and financial instruments are effectively held:<table><tbody><tr><td>Name</td><td align="right">% of shares and votes</td><td align="right">% of shares and votes through financial instruments</td><td align="right">Total of both</td></tr><tr><td>Ilkka Herlin&nbsp;</td><td align="right">95.24% of the shares and 98.40% of the votes</td><td align="right">n/a&nbsp;</td><td align="right">95.24% of the shares and 98.40% of the votes</td></tr></tbody></table>&nbsp;Further information Minna Karttunen CFO Endomines Finland Plc <a href="mailto:minna.karttunen@endomines.com">minna.karttunen@endomines.com</a> +358 40 513 3225&nbsp;Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to develop the Karelian Gold Line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.&nbsp;&nbsp;&nbsp;

Class / type of shares ISIN-code	Number of shares and votes	% of shares and votes
Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI4000508023	5,866,263	15.29
SUBTOTAL	5,866,263	15.29

Type of financial instrument	Expiration date	Exercise / Conversion Period	Physical or cash settlement	Number of shares and voting rights	% of shares and voting rights
n/a	n/a	n/a	n/a	n/a	n/a

Name	% of shares and votes	% of shares and votes through financial instruments	Total of both
Ilkka Herlin	95.24% of the shares and 98.40% of the votes	n/a	95.24% of the shares and 98.40% of the votes