Latitude 66 confirms US$485M gold-cobalt project

• Latitude 66 completed a scoping study for its KSB Project in Northern Finland, outlining a standalone gold and cobalt operation.
• The study projects a post-tax net present value of US$485 million and an internal rate of return of 85%.
• The company plans to transition directly into a prefeasibility study to explore operational enhancements and regional expansion.

Latitude 66 (ASX:LAT) completed a 2026 scoping study for its KSB Gold-Cobalt Project in Northern Finland, confirming an estimated post-tax net present value of US$485 million.

The preliminary economic evaluation models a 7.5-year mine life based on base-case assumptions, compared to a higher spot-price post-tax net present value model of US$753 million.

"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," said Latitude 66 Managing Director Grant Coyle.

The project carries an initial capital expenditure estimate of US$130 million, with all-sustaining costs forecast at US$1,283 per ounce of gold.

Latitude 66 stated that over 90% of the initial production target sits within the higher-confidence indicated resource category, while underground mining will begin at the K1 deposit.

Following the announcement, the Latitude 66 share price was unchanged at $0.14.

The project targets average annual production of 65,000 ounces of gold and 475 tonnes of cobalt in concentrate using carbon-in-leach processing.