Latitude 66 Limited has released its 2026 Scoping Study for the flagship KSB Gold-Cobalt Project in Northern Finland, raising its base-case post-tax net present value to US$485 million from US$433 million in March 2025.

The study evaluates a standalone open-pit and underground mining operation backed by a global resource of 7.3 million tonnes grading 2.7 grams per tonne gold for 650,000 ounces and 0.08 percent cobalt for 5,840 tonnes. Operating over a 7.5-year mine life, the project targets average annual production of 65,000 ounces of gold and 475 tonnes of cobalt in concentrate using conventional Carbon in Leach processing.

The economic model incorporates higher capital expenditure estimates and updated commodity assumptions. Upfront capital costs are forecast at US$130 million—up from US$100 million in 2025—with the payback period shifting from 16 months down to 12 months at a gold price of US$3,500 per ounce. Under current spot pricing at US$4,500 per ounce gold, the post-tax NPV increases to US$753 million with an 8-month payback, while the base-case post-tax internal rate of return stands at 85 percent.

The project achieves first-quartile all-in sustaining costs of US$1,283 per ounce of gold, or US$1,149 per ounce gold equivalent. Over 90 percent of production is underpinned by Indicated Mineral Resources, providing a high-confidence foundation for development.

“The 2026 Scoping Study confirms our flagship KSB Gold-Cobalt Project in Northern Finland as a standout, high-margin asset featuring low capital intensity and a rapid 8-month payback period based on the current spot gold price. With over 90% of early production sourced from the Indicated resource category, we have a high-confidence foundation to advance the KSB Project directly into a Prefeasibility Study.”

— Grant Coyle, Managing Director

The updated evaluation follows recent operational and financial steps by Latitude 66. In July 2026, the company received Exploration Permits covering the K1, K2, and K3 deposits from the Finnish Mining Authority. Latitude also secured A$3.4 million in non-dilutive funding in August 2026 through the sale of non-core Australian royalty interests to Vox Royalty Corp. to support core exploration and development.

With the scoping study complete, Latitude 66 is commencing Prefeasibility Study activities focused on expansion potential and operational enhancements. Field work will include drilling near-mine extensional targets down-dip and along strike of the K1 resource.

Read the full announcement: KSB Gold-Cobalt Project 2026 Scoping Study