INTERIM REPORT JANUARY – SEPTEMBER 2014, SUMMARY

(For complete interim report see attached file)

THE CURRENT PERIOD (3 months, July - September)

  • Net profit was kSEK -2 474 (-2 055) and earnings per share to SEK -0.12 (-0.15).
  • Other income was kSEK 68 (55).
  • Investments during the period July – September amounted to kSEK 3 384 (9 341).

 

SUMMARY OF INTERIM REPORT (9 months, January - September)

 

  • Net profit was kSEK -5 046 (-5 676) and earnings per share to SEK -0.27 (-0.40).
  • Other income was kSEK 597 (832).
  • Cash and cash equivalents as of September 30, 2014 amounted to kSEK 26 755 (11 095).
  • Investments during the period where kSEK 7 046 (20 532).
  • The Equity as of September 30 2014 was 136 551 kSEK (107 732).
  • Measured and indicated mineral-resources increased significantly
  • Mineral-reserves increased with 33 %
  • The Company received a mine-safety permit according to new safety requirements
  • An updated feasibility-study was completed
  • A prospectus for a rights issue was published
  • Agreement with ABB on technology-supplies and financing-arrangements was extended to the end of 2014
  • A building-permit for construction of buildings at the Silver Mine was granted
  • The Silver Mine’s environmental permit has now become legally valid
  • Acquisition of 427 hectares land at Silver Mine was completed

 

Summary of significant events after period end

  • No significant events have occurred after the end of the period

 

The comparative numbers relates to the corresponding period of the previous year's income statement and cash flow items and December 31st 2013 for Balance Sheet items.

 

Reporting Dates

  • Year End Report 2014 - February 16th 2015.
  • The Annual Report will be published in March 2015.
  • Annual General Meeting - March 23th 2015.

 

 

Share data

On the last trading date, September 30 2014, Sotkamo’s shares were traded at SEK 5.60. The share capital amounted to SEK 141 596 341.47. Quota value was SEK 6.86.

Number of shares and votes are 20 643 198. The company´s market capitalisation was approximately 116 MSEK at closing-date.

 

Stockholm, 17th November 2014

Sotkamo Silver AB

Timo Lindborg, CEO

 

The Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi   For further information please contact Timo Lindborg, CEO on +46-8-304920.

 

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 Silver Mine project in the municipality of Sotkamo.

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 Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki. ISIN-code for Sotkamo Silver shares is SE0001057910.

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 issued in Swedish and there may be slight differences in the translated versions.