SOTKAMO SILVER AB: PRODUCTION UPDATE AND GUIDANCE 2020
Press release: Stockholm, March 13, 2020 08.45 CET
During the first two months of 2020 ca. 82 kt of ore was processed at the Silver Mine. This yielded ca. 264 000 ounces of silver, 353 tons of lead, 741 tons of zinc and 634 ounces of gold in the concentrates.
We expect to process 480 – 540 kt of ore in 2020 whereas in 2019 Silver Mine processed 343 kt of ore. Correspondingly, the silver production in 2020 is forecasted to be 1.4 - 1.7 million ounces. Production target is conditional to the receiving of an updated environmental permit. One of our aims is to stabilize the volatility of the head grades which helps to maintain good metal recoveries at the processing plant and ensures steady cash-flow.
Stockholm March 13, 2020
Sotkamo Silver AB
Paul Johnsson, CEO
Paul Johnsson, CEO of Sotkamo Silver AB, tel. +46 70 777 6976
The information was submitted for publication, through the agency of the contact persons set out above on March 13, 2020, at 08.45 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´s business concept is to develop mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns through its subsidiary the Silver Mine in Sotkamo which started production in March 2019 and has reached full production capacity. In addition, the Company holds exploration rights to precious and base metal deposits in Finland, Sweden and Norway.
Sotkamo Silver applies SveMin's & FinnMin's own rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to publish 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