(For press release in Finnish, see attached file)
INTERIM PERIOD (9 months, January - September)
• Net profit was KSEK -5,463 (-5,178) and earnings per share SEK -0.47
(-0.50).
• Group sales, after adjustments for sold forest was KSEK 546 (86).
• Cash and cash equivalents was KSEK 48,897 (15,077) at September 30th 2012.
• Investments during the period were KSEK 15,011 (9,410).
• Taivaljärvi Silver deposit likely continues to at least to the depth of 1
000 meters with least triple length compared to earlier known.
• Bankable Feasibility Study completed for Taivaljärvi Silver Mine.
• Updated ore-reserves and financial forecast for Taivaljärvi Silver Mine.
• Sotkamo Silver Oy signed an agreement for the construction of Taivaljärvi
Silver Mine´s power transmission-line.
• Finnish Government and Centre for Economic Development, Transport and
Environment in Kainuu grants 2.5 M€ for the Taivaljärvi Silver Mine
project.
• Extraordinary shareholders meeting approved preferential rights issue,
non-preferential issue, issue of warrants and reversed-split.
• Sotkamo Silver AB completed preferential and directed share issues of SEK
49.1 million. After registration and the reversed split, the number of
shares in Sotkamo Silver AB is 14 152 631 and the share-capital SEK
141,526,311.
CURRENT PERIOD (3 months, July - September)
• Net profit was KSEK -2,326 (-2,523) and earnings per share SEK -0.17
(-0.25).
• Other income, after adjustments for sold forest was KSEK -536 (15).
• Investments during the period July – September were KSEK 2 694 (2,253).
• Sotkamo Silver has received positive decisions regarding road-access from
the main-road and planning needs for the Taivaljärvi mine-area.
• Sotkamo Silver Oy has started recruitments in order to prepare for
construction and production in the Taivaljärvi Silver mine.
Number of shares and votes in Sotkamo Silver AB are 14,152,631 and share
capital is SEK 141,526,311. Quota value is SEK 10.
Number of outstanding warrants are 942,756, each of them entitles the holder to
subscribe for one share at SEK 17.50 per share at the latest by November 30
2013.
The comparative numbers relates to the corresponding period of the previous
year's income statement and cash flow items and 31 December 2011 for balance
sheet items. All information regarding per share amounts have been restated
retroactively even after the reversed split of shares 1:25.
Stockholm, October 18th 2012
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the
Nordic countries with regards to human society and environment. Sotkamo Silver
owns, through its subsidiary mineral deposits, which contains silver and gold
in Finland. The Company’s main development project is the Taivaljärvi Silver
Mine.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for
public mining & exploration companies. Sotkamo Silver has chosen to report
mineral resources and ore reserves according to the internationally accepted
JORC or NI 43-101-code. The company applies International Financial Reporting
Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910 and for warrants
SE0004635290.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507
The official Stock Exchange Release is given in Swedish and there may be
differences in the translated versions.
(For full report in Swedish or for press release in Finnish, see attached
files)
