Raahe gold mine plans Canadian listing under SISU ticker
Wednesday 12th August 2026 on 08:30 in
Finland
Laiva Gold, which owns the gold mine in Raahe, is preparing to list in Canada in September, Yle reports. Before the listing, the company is seeking to raise six million Canadian dollars, or just under four million euros, from investors.
If the listing goes ahead, the company will trade under the ticker SISU on the Canadian Securities Exchange. The exchange is not Canada’s main stock market, but provides smaller and growth-stage companies with access to capital.
Laiva Gold has repeatedly postponed its listing plans in recent years. The company is now promoting the mine’s potential by comparing it with Rupert Resources’ major gold deal in Lapland. Rupert Resources sold its Ikkari gold deposit to Agnico Eagle for nearly two billion euros.
The deal is mentioned in a Laiva Gold investor video, which presents the funding round as the final opportunity to invest in the Raahe mine’s success before the listing.
The mine’s ownership last changed in autumn 2022. Pilar Gold initially became the new owner during the corporate restructuring of Otso Gold, which had run into financial difficulties. Laiva Gold took ownership after internal arrangements within the company in spring 2023.
Gold has not been mined in Raahe for almost five years because of financial and environmental problems. Laiva Gold says those problems have been overcome and plans to reopen the mine next year.
The company is initially targeting annual gold production of about 1,500 kilograms, rising to more than 2,000 kilograms later. Uncertainty remains over the environmental permits, which are being considered by Finland’s Supreme Administrative Court.
Laiva Gold has also announced that it will apply for a new environmental permit. Chief executive Hannu Tuovinen says the application is expected around the turn of the year. The company says operations would continue under either a new permit or one based on the existing permit.
The company says about 2,800 kilograms of gold have been produced in Raahe since 2012.