FINNISH GOVERNMENT GRANTS 1.5 M EURO FOR INFRASTUCTURE- AND ENVIRONMENTALINVESTMENTS IN THE TAVALJÄRVI SILVERMINE PROJECT
The Finnish Government and the Joint Authority of Kainuu Region, have decided on a investment- and development grant of 1 500 000 Euro to the Taivaljärvi Silver Mine project. The Parliament confirmed the decision by approving the Government’s proposal on the second supplementary budget for 2012.
The contribution will be used for environmental- and infrastructure investments in Taivaljärvi Silver Mine, such as power-transmission network and electrical installations in connection with the mine-drainage. To be able to receive the subsidy, a separate application shall be made for expenses incurred and accepted by the decision.
"We are grateful for the support which the Parliament of Finland, Government of Finland and Joint Authority of Kainuu has shown now to the Taivaljärvi Silver Mine project. It is not just money. By this way, the authorities also show their support and appreciation to our mine project. " Says Timo Lindborg, CEO of Sotkamo Silver AB.
Stockholm, 25th July 2010
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 shares are traded at the Burgundy market place and NGM Equity in Stockholm. The ticker symbol is SOSI.
ISIN-code for Sotkamo Silver shares is SE0001057910. ISIN-code for Sotkamo Silver warrants is SE0003299718.
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