SOTKAMO SILVER AB: UPDATED GUIDANCE FOR SILVER PRODUCTION IN 2022
Press release: Stockholm, July 29, 2022, 08:45 CET
Sotkamo Silver AB revises the estimate for silver production in 2022. The updated guidance is based on the silver production of 617 koz until the end of the second quarter, and updated production schedule for the second half of the year. The production volumes of gold, zinc and lead have been at the same level or exceeded the volumes during the same period last year.
New production guidance for 2022:
We continue to focus on the production mix and optimization of the revenue and operative cashflow. Consequently, we estimate that our annual silver production in 2022 will be 1.25-1.35 million ounces.
Earlier production guidance for 2022 (given on January 24, 2022):
We expect to produce ca. 1.5 million ounces of silver in 2022. However, our primary target is to maximise the revenue and operative cashflow. To achieve this, we adjust the mix of metals in our ore feed which might have an impact to the produced silver ounces.
Stockholm, July 29, 2022
Sotkamo Silver AB
Erkki Kuronen, CEO
Contact person
Erkki Kuronen, CEO, tel. +358 50 599 3539
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above on July 29, 2022, 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 with regards to human society and environment. The Company owns the Silver Mine in Sotkamo which started production in March 2019. In addition, the Company holds mining and exploration rights to precious and base metal deposits in Finland.
The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI on NGM Main Regulated Equity in Stockholm and SOSI1 on Nasdaq Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
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