Key Highlights

  • The Northern Finland Administration Court dismissed all appeals against four Exploration Permits at the KSB Project.
  • No application for leave to appeal was lodged with the Supreme Administrative Court by the 2 November 2026 deadline.
  • The permits provide exploration and development rights and a priority right to apply for a Mining permit.
  • The 2026 Scoping Study describes a 7.5-year mine life producing 65,000 oz of gold and 475 tonnes of cobalt a year.

Latitude 66 Limited (ASX:LAT) has confirmed that exploration permits covering the mineral resource areas of its KSB Project in northern Finland are legally final, in an announcement dated 4 November 2026. The company says the permits are no longer subject to appeal and that the decision allows its focus to remain on exploration and development.

The Appeal Outcome

The Northern Finland Administration Court dismissed all appeals against the granting of the four Exploration Permits. The Finnish Mining Authority had granted the permits, and no application for leave to appeal was lodged with the Supreme Administrative Court of Finland by the deadline of 2 November 2026.

The company says the speed of the appeal decisions means it can maintain full exploration and development focus on the project. The permits also secure Latitude's priority right to apply for a mining permit over the KSB Project.

The decisions are presented as allowing the company to continue exploration and development work without a prolonged appeal period. The permits cover the areas containing the mineral resource, so the legal status of those ground positions is now settled for the purposes of the company's planning.

Resource and Scoping Study Figures

The KSB Project's Indicated and Inferred Mineral Resource Estimate is 7.3 million tonnes at 2.7 g/t gold, containing 650,000 ounces of gold and 5,840 tonnes of cobalt at 0.08%. More than 85% of the resource is in the Indicated category.

The 2026 Scoping Study, completed in September 2026, describes a standalone operation with a 7.5-year mine life producing 65,000 ounces of gold and 475 tonnes of cobalt a year. The study's assumptions include a gold price of US$3,500 per ounce.

The resource includes a high proportion of Indicated material, which reflects a higher level of geological confidence than Inferred material alone. The release presents the resource and study figures separately, and the study's assumptions are tied to the stated gold price and cost basis.

Cost and Capital Estimates

The study estimates All-In Sustaining Cost at US$1,283 per ounce and an initial capital requirement of approximately US$130 million. The release describes the capital estimate as low.

These study outputs are based on the stated assumptions and are not a resource or reserve declaration. The announcement does not indicate when a mining permit application will be lodged.

The announcement does not indicate the timing of a mining permit application or a final Investment decision. The priority right to apply means the company holds a position in that process, but the next steps and their timetable are not set out in the release.

Permitting Framework in Finland

The announcement describes a process in which exploration permits are granted, appealed and then declared legally final. Once the appeals are resolved, the permits provide exploration and development rights and a priority right to apply for a mining permit. The release does not describe the criteria for a mining permit, and it does not state when the company intends to apply. The framework sets out the sequence of steps that the company must complete before construction could be considered.

Final Word

The announcement confirms the legal status of the four permits and the exploration and development rights attached to them. It does not change the resource or study figures. Any future mining permit would be subject to its own application process, and the study outputs depend on the gold price and cost assumptions stated in the company's disclosure.