CURRENT REPORTING PERIOD (3 months, July - September)

  • Net result was -294 KSEK (-2,474) and earnings per share -0.01 SEK (-0.12).
  • Group sale was 4 KSEK (68).
  • Investments during the period July - September was 11,162 KSEK (3,384).


  • Net result was -6,500 KSEK (-5,046) and earnings per share SEK -0.31 (‑0.27).
  • The Group sale was 446 KSEK (597).
  • Cash and cash equivalents was 6,361 KSEK (21,339) as of September 30th 2015.
  • Investments during the period was 14,626 KSEK (7,046) of which 10 000 KSEK refers to the Blaiken plant.
  • Equity was 129,913 KSEK (136,561) as of September 30th 2015.
  • Tests confirmed the efficiency of the ore sorter at the Silver Mine.
  • A 85 MSEK financing was offered from TEKES as a development loan.
  • Sotkamo Silver purchased the Blaiken plant.
  • Excellent exploration targets in Mo i Rana in Norway.
  • High silver- and gold-grades were encountered in drilling at the deep extension of the Silver Mine deposit. 



  • Improved conditions related to the loan from TEKES.
  • Taaleritehdas subscribed for convertibles in Sotkamo Silver at an amount of 14.1 MSEK and in addition to that they granted a guarantee.
  • Arttu Ohtonen was appointed Managing Director for the Finnish subsidiary. 

The comparative numbers relates to the corresponding period of the previous year's income statement and cash flow items and December 31st 2014 for Balance Sheet items.



During the last 12 months the Management of Sotkamo Silver have developed the technical and geological conditions by new drillings, analysis and tests. I believe that this has significantly improved the profitability of the project, as the result of these efforts are included in the production line. Measures taken and the result of the development project has improved the profitability at present silver price levels.

The work to carry out a financing solution is priority number one for the Board and Management. Possibilities evaluated are increased equity, bond loan or other complex financing solutions. The goal is to have a financing package that is composed of several parts in order to a have a good solution as possible for our owners. The last years have been difficult for investments in industry, in particular within the mining industry, but now we feel that there is an increased interest to invest.

We have negotiated a financing- and delivery agreement with ABB Oy Finland. The amount of the agreement is dependent of the value of the delivery, but maximized to 5 MEUR, or approx. 47MSEK.

TEKES - the Finnish Funding Agency for Innovation, has granted Sotkamo Silver a possibility to additional financing with a development loan of 9,4 MEUR, which correspond to approximately 85 MSEK.

Earlier this year the Company acquired the plant at Blaiken. The plant is well fitted for Sotkamo Silver´s needs and as a result of this, the total cash needed for the Silver Mine project has decreased by 7 MEUR, which is equivalent to 65 MSEK, compared to an acquisition of a new plant from elsewhere.

Taaleritehdas signed a convertible loan in the Company at an amount of 14.1 MSEK with the quota value SEK 6.86 as per October 31st. In addition they granted an issue guarantee of totally 3 MEUR, being equivalent to 28 MSEK. The signing of the convertibles and the guarantee are a part of the final financing package for construction of the Silver Mine.

The above mentioned parts of the financing are very important steps for the final financing of the Silver Mine project. We still have a bit to go, but with the cash available today we can work at least another 12 months.

I would warmly like to thank Ilkka Tuokko, who has now retired, for the great efforts he has made for the Company. His enthusiasm and commitment has been and essential for the Silver Mine’s development. The Board and Management are happy that Illka Tuokko has decided to continue to work for us in the position as Chairman in the Finnish subsidiary.

I also take the opportunity to welcome Arttu Ohtonen to his new position as Managing Director for the Finnish subsidiary.


Timo Lindborg


Reporting Dates:

  • Year End Report 2015 - February 12th 2016.
  • Annual General Meeting – March 17th 2016.

Share data

The share capital amounted to SEK 141,596,341.47. Number of shares and votes are 20,643,198. Quota value was SEK 6.86.

A complete Year End Report in Swedish can be downloaded from:

Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act

The official Stock Exchange Releases are given in Swedish and there may be slight differences in the translated versions


Stockholm, November 13th 2015

Sotkamo Silver AB

Timo Lindborg, CEO


Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act

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

The Company's press releases and financial reports are distributed via NGM and are available on .  For further information please contact Timo Lindborg, CEO on +46-8-304920.


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 or

For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507