FINNVERA GRANTS A 1 MILLION EURO LOAN TO SOTKAMO SILVER
This financing will be used entirely to development work, which will be undertaken in connection with the bankable feasibility study works. Development-work includes preparation of an updated mineral-resource estimate, new open pit and underground mining-plan, mineral-processing pilot-plant test, technical planning, infrastructure and the development of the organisation.
Finnvera is a specialised financing company owned by the State of Finland and it is the official Export Credit Agency (ECA) of Finland. Finnvera strengthens the operating potential and competitiveness of Finnish enterprises by offering loans, domestic guarantees, venture capital investments, export-credit guarantees and other services associated to the financing of exports.
“I am very pleased that Finnvera granted us funding, which increased the Finnish state's involvement in the project. This gives us the stability and opportunity to strengthen our organization, develop the project and the company to the completion of the Feasibility study and financing decisions", comments Timo Lindborg, CEO
SOTKAMO SILVER AB (publ.)
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regard 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.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fI
For further information: Mr. Timo Lindborg, CEO, phone: +46-8-30 49 20