YEAR END REPORT JANUARY – DECEMBER 2014, SUMMARY
THE CURRENT PERIOD (3 months, October - December)
- Net profit was kSEK - 360 (-315) and earnings per share SEK -0.02 (-0.02).
- Other income was kSEK 449 (625).
- Investments during the period October – December amounted to kSEK 3 055 (6 181).
SUMMARY OF THE YEAR END REPORT (12 months, January - December)
- Net profit was kSEK -5 407 (-5 991) and earnings per share to SEK -0.28 (-0.42).
- Other income was kSEK 1 046 (1 457).
- Cash and cash equivalents as of December 31, 2014 amounted to kSEK 21 339 (11 095).
- Investments during the period where kSEK 10 101 (26 713).
- Equity at December 31st 2014 was 136 561 kSEK (107 732), which corresponds to SEK 6.62 (7.61) per share.
- Despite intensive efforts, the Company did not manage to get an investment in 2014 to build the mine, so explorations continue to find further possibilities for financing the Silver Mine's construction during 2015. New higher dollar- and silver-prices is positive both for investors and the Company.
- Promising results in investigations at Hopeavuori gold-deposit
- Measured and indicated mineral-resources increased significantly
- Mineral-reserves increased with 33 % (amount of silver)
- The Company received a mine-safety permit according to the new requirements
- An updated feasibility-study was completed
- A rights issue was completed
- Agreement with ABB of technology-supplies and financing-arrangements was extended
- Building-permit for construction of buildings at the Silver Mine was granted
- Environmental permit became legally valid
- Acquisition of 427 hectares land at Silver Mine was completed
Summary of significant events after period end
- High silver- and gold values in drilling at the deep extension of the Silver Mine deposit
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.
- The Annual Report will be published in March 2015.
- Annual General Meeting - March 23th 2015.
- Interim report Q1 - April 24th 2015.
- Interim report Q2 - August 12th 2015.
- Interim report Q3 - November 13th 2015.
- Year End Report 2015 - February 12th 2016.
- Annual General Meeting – March 17th 2016.
On the last trading date, December 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.
Market capitalisation was 121 795 kSEK at closing-date.
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act
The official Stock Exchange Releases are given in Swedish and there may be slight differences in the translated versions.
A complete Year End Report in Swedish can be downloaded from: http://www.silver.fi/sivu/se/delarsrapporter/
Stockholm, 17th February 2015
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.