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SUMMARY OF INTERIM REPORT JANUARY - SEPTEMBER 2013

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  • Net profit was -5 676 KSEK (-5,463) and earnings per share to SEK -0.40 (-0.47).
  • Group sale was 832 KSEK (546).
  • Cash and cash equivalents was 10 065 KSEK (41 178) at September 30th 2013.
  • Investments were during the period 20 532 KSEK (15 011).
  • Equity was 107 976 KSEK (113 584) at September 30th 2013.  

 

THE CURRENT PERIOD (3 months, July - September)

  • Net profit was -2 055 KSEK (-2 327) and earnings per share -0.15 SEK (-0.17).
  • Group sale was 55 KSEK (-536).
  • Investments during the period July – September was 9 341 KSEK (2 694).
  • Sotkamo Silver has engaged KPMG Corporate Finance to assist in development and financing of its flagship, Silver Mine Project.
  • The Company published a report on exploration-prospects along The Silver Mine, and in the Tampere Gold District.
  • The Annual General Meeting was held on March 22nd, 2013.
  • Sotkamo Silver received environmental permit for Silver Mine.
  • Sotkamo Silver concluded an agreement with ABB about electrification and a first financing package.
  • Sotkamo Silver undertook an independent consultant-report concerning an Environmental, Health and Safety and Limited Social Review.
  • Increased potential at Silver Mine deposit down to the depth of 2 000 meters.
  • Change in number of shares and votes in Sotkamo Silver AB

 

Summary of significant events after the balance

  • Excellent results received from a infill drilling-program.

 

The comparative numbers relates to corresponding period previous year for income statement and cash flow items at December 31st 2012 for Balance Sheet items. All information regarding amounts has been restated retroactive, also after the reversed split of 1:25 during 2012.

 

2013 Reporting Dates

  • Year End Report 2013 will be published February 14th 2014.
  • Annual General Meeting - March 21st 2014.

 

Number of shares and votes in Sotkamo Silver AB are 14 156 664 and the share capital is SEK 141 566 641.47. Quota value is SEK 10.

Number of outstanding warrants are 936 698, each of them entitles the holder to subscribe for one share at SEK 17.50 per share by November 30th 2013 at the latest.

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

 

Stockholm, September 14th 2013

 

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 and SOSI1 in NASDAQ OMX Helsinki.

ISIN-code for Sotkamo Silver shares is SE0001057910 and for warrants SE0004635290.

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.

 

(For full report in Swedish, see attached file)

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