SOTKAMO SILVER SIGN AN AGREEMENT FOR THE CONSTRUCTION OF TAIVALJÄRVI SILVER-MINE´S POWER TRANSMISSION-LINE
Sotkamo Silver has signed an agreement with ABB Oy, Process Industry, Finland about construction of a 22 km long power transmission-line to Taivaljärvi Silver Mine. ABB is a multinational service-group which deliver constructions, maintenance and professional services within the energy- and industry sector.
The 45 kV power transmission line will be installed before year end 2013. The design and engineering of the power-line and preparations will start immediately. After completion, Sotkamo Silver will be the sole owner of the new power-line. The power line will connect Taivaljärvi Silver Mine with Katerma hydroelectric power-plant and its 110-kV grid. The capacity allows future expansion of the processing plant.
"The signing of this agreement is an important milestone for Sotkamo Silver, and enables a construction and production start-up of the Taivaljärvi Silver Mine after decision of construction start". Summarizes Timo Lindborg, CEO of Sotkamo Silver AB.
Stockholm 5th June 2012
SOTKAMO SILVER AB (publ)
CEO Timo Lindborg
Mr. Ilkka Tuokko and Mr. Hannu Luhtaniemi from ABB Oy, Process Industry, Finland and the signed agreement.
The information provided in this press release is such that the company is required to disclose pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. This press release contains forward-looking statements, forecasts and estimates. Indications of, and guidance on future earnings and financial position and performance are also forward-looking statements. The statements and estimations are subject to risk factors associated with the mining industry. These forward-looking statements, opinions and estimates are not guarantees of future performance.
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: Timo Lindborg, CEO, tel. +358 40 508 3 507
