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SUMMARY OF INTERIM REPORT JANUARY - MARCH 2014

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(For complete interim report see attached file)

  • Net profit was KSEK -2,217 (-2,385) and earnings per share to SEK -0.16 (-0.17).
  • The Group sale was KSEK 429 (750).
  • Cash and cash equivalents was KSEK 4,548 (11 095) at March 31st 2014.
  • Investments were during period KSEK 1,807 (3,709).
  • Equity was 105,500 kSEK (107,732) at March 31st 2014.
  • Measured and indicated mineral resources increased significantly
  • Mineral Reserves were estimated during the period, increased 33%
  • Sotkamo Silver has received a mine-safety permit according to the new safety requirements
  • Updated feasibility study completed for the Silvermine
  • The Annual General Meeting was held on March 21st, 2014.
  • Sotkamo Silver AB (Publ) published a prospectus for the rights issue of appr. MSEK 42.5

Summary of significant events after the balance

  • Sotkamo Silver’s agreement with ABB on tehcnology-supply and financing-arrangements have been extended to the end of 2014.
  • Sotkamo Silver receives about 39 MSEK from preferential share issue.

 

The comparative numbers relates to the corresponding period of the previous year's income statement and cash flow items and December 31st 2013 for Balance Sheet items.

 

2014 Reporting Dates

  • Interim report Q1 2014 - May 23st, 2014
  • Interim report Q2 2014 - August 22nd, 2014
  • Interim report Q3 2014 - November 18th, 2014
  • Year End Report 2014 - February 16th 2015.
  • Annual General Meeting - March 23th 2015.

 

Number of shares and votes in Sotkamo Silver AB are 14,152,856 and the share capital is SEK 141,528,561. The quota value is SEK 10

The number of shares in Sotkamo Silver AB (publ) has increased in connection with the preferential share issue approved by the Annual General Meeting held on Friday 21 March 2014 by 6,483,564 new shares (the “new shares”). The new shares have been registered at the Swedish Companies Registration Office. Therefore, the total number of shares and votes in Sotkamo Silver amounts to 20,643,198 and the share capital to SEK 141,596,341.47, each share with a quota value of approximately SEK 6.86.

The Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi.

 

Stockholm, 23th May 2014

Sotkamo Silver AB

Timo Lindborg, CEO

 

About Sotkamo Silver AB:

Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards 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 Silver Mine project 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.

The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki. 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

The official Stock Exchange Release is given in Swedish and there may be slight differences in the translated versions.

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