SOTKAMO SILVER: PRODUCTION RAMP-UP PROCEEDS AND THE CASH FLOW HAS BEGUN
Press release in Stockholm 29.4.2019, 8.45 o'clock.
The ramp-up of the production of Silver Mine is progressing. Both production lines of the concentrating plant are running, and the production and concentrate deliveries to smelters are growing as planned. The concentrate deliveries are now expected to continue weekly.
The metal contents of the concentrate are as planned. The average invoicing value of the concentrate has so far been approximately EUR 7,000 - 7,500 per tonne, calculated from the cash inflow.
The production capacity has been increased to 450,000 tonnes per year. The goal is to mill 330,000 - 350,000 tonnes of ore in 2019. The silver ore is mined from the open pit and underground mine.
Head of Geology & Mining Erkki Kuronen has been appointed as Chief Operating Officer (COO). In addition to his current duties, he is responsible for the production of the Silver Mine. He also acts as deputy of Managing Director of Sotkamo Silver Oy.
"I am pleased that the cash flow has already begun, and the metal contents of the concentrates have been high since the beginning of production. The flotation process works as expected. We expect that by the end of summer we have completed the production ramp-up and optimisation of the production process”, says Timo Lindborg, CEO of Sotkamo Silver AB
April 29, 2019
Timo Lindborg, CEO
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 29th April 2019, at 8.45 CET.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
ABOUT SOTKAMO SILVER AB
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver has the mineral rights of deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company’s main project and the producing mine is the Silver Mine 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.
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
Read more about Sotkamo Silver on www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi