SUMMARY OF INTERIM REPORT JANUARY - JUNE 2014 SOTKAMO SILVER
SUMMARY OF INTERIM REPORT JANUARY - JUNE 2014
- Net profit was -2,573 KSEK (-3,621) and earnings per share to SEK -0.15 (-0.26).
- Group sale was 528 KSEK (777).
- Cash and cash equivalents was 32,541 KSEK (11,905) at June 30th 2014.
- Equity was 139,253 KSEK (107,732) at June 30th 2014.
- Investments were during the period 3,662 KSEK (11,191).
THE CURRENT PERIOD (3 months, April - June)
- Net profit was -356 KSEK (-1,236) and earnings per share -0.02 SEK (-0.09).
- Group sale was 99 KSEK (27).
- Investments during the period April – June were 1,855 KSEK (7,482).
- Measured and indicated mineral resources increased significantly
- Mineral Reserves were estimated during the period, increased 33%
- Sotkamo Silver has received a mine-safety permit according to the new safety requirements
- Updated feasibility study completed for the Silver Mine
- The Annual General Meeting was held on March 21st, 2014.
- Sotkamo Silver AB (Publ) published a prospectus for the rights issue of appr. MSEK 42.5 and received about 39 MSEK from share issue
- Sotkamo Silver’s agreements with ABB on technology-supply and financing-arrangements have been extended to the end of 2014.
- Sotkamo Silver has been granted a building permit for the constructions of the buildings of Silver Mine
SUMMARY OF SIGNIFICANT EVENTS AFTER THE BALANCE
- The Silver Mine’s environmental permit has now become legally valid
- Sotkamo Silver has completed the acquisition of 427 hectares real property at Silver Mine
The comparative numbers relates to corresponding period previous year for income statement and cash flow items at December 31st 2013 for Balance Sheet items.
2014 Reporting Dates
- Interim report Q1 2014 - May 23st, 2014
- Interim report Q2 2014 - August 22nd, 2014
- Interim report Q3 2014 - November 18th, 2014
- Year End Report 2014 - February 16th 2015.
- Annual General Meeting - March 23th 2015.
The number of shares and votes in Sotkamo Silver AB is 20 643 198 shares and the share capital is SEK 141,596,341.47. Quota value is SEK 6,86.
Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi
Stockholm, August 22th 2014
Sotkamo Silver AB
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 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 given in Swedish and there may be slight differences in the translated versions.