SUMMARY OF INTERIM REPORT JANUARY - JUNE 2013

  • Net profit was KSEK -3,621 kSEK (-3,137) and earnings per share to SEK -0.26 (-0.30).
  • The Group sale was KSEK 777 (1,083).
  • Cash and cash equivalents was KSEK 25,805 (41,178) at June 30th 2013.
  • Investments were during period KSEK 11,191 (12,317).
  • Equity was 109,996 KSEK (113,584) at June 30th 2013.

 

THE CURRENT PERIOD (3 months, April - June)

  • Net profit was KSEK -1,236 (-979) and earnings per share to SEK -0.09 (-0.09).
  • The Group sale was of KSEK 27 (250).
  • Investments during period April – June were KSEK 7,482 (1,811).
  • Sotkamo Silver has engaged KPMG Corporate Finance to assist in the development and financing of its flagship, Silver Mine Project.
  • The Company published a report on exploration-prospects along The Silver Mine, and in the Tampere Gold District.
  • The Annual General Meeting was held on March 22nd, 2013.
  • Sotkamo Silver receives environmental permit for Silver Mine.
  • Sotkamo Silver concludes an agreement with ABB about the electrification and first financing package.
  • Sotkamo Silver has undertaken an independent consultant-report concerning an Environmental, Health and Safety and Limited Social Review.

 

Summary of significant events after the balance

No significant events occurred after the current period.

 

The comparative numbers relates to the corresponding period of the previous year's income statement and cash flow items and December 31st 2012 for Balance Sheet items. All information regarding amounts has been restated retroactive, also after the reversed split of 1:25 during 2012.

 

2013 Reporting Dates

- Interim report for January-September will be published on 14th November 2013.

- Interim report for January – December will be published 14th February 2014.

- Annual General Meeting - March 21st, 2014.

 

Number of shares and votes in Sotkamo Silver AB are 14,152,856 and the share capital is SEK 141,528,561. The quota value is SEK 10.

The number of outstanding warrants is 942,756, each of which entitles the holder to subscribe for one share of SEK 17.50 per share latest by 30 November 2013.

The Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi.

 

Stockholm, 23th May 2013

Sotkamo Silver AB

Timo Lindborg, CEO

 

(For full report in swedish, see attached file)

 

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 slight differences in the translated versions.