(For full report in swedish, see attached file)
FISCAL YEAR
• Net profit was -5,991 KSEK (-5,888) and earnings per share to SEK -0.42
(-0.48).
• Group sale was 1,457 KSEK (909).
• Cash and cash equivalents was 11,095 KSEK (41 178) at December 31st 2013.
• Equity was 107 976 KSEK (113 584) at September 30th 2013, corresponding
7.61 SEK (8.03) per share.
• Investments were during the period 26,713 KSEK (18,773).
• Sotkamo Silver engaged KPMG Corporate Finance to assist in development and
financing of its flagship, the Silver Mine Project.
• The Company published a report on exploration-prospects along the Silver
Mine, and in the Tampere Gold District.
• Sotkamo Silver received environmental permit for the Silver Mine.
• Sotkamo Silver concluded an agreement with ABB about electrification and a
first financing package.
• Sotkamo Silver undertook an independent consultant-report concerning
Environmental, Health and Safety and Limited Social Review.
• Increased exploration potential at the Silver Mine deposit down to the
depth of 2 000 meters.
FOURTH QUARTER (3 months, October-December)
• Net profit was -315 KSEK (-425) and earnings per share -0.02 SEK (-0.03).
• Group sale was 625 KSEK (363).
• Investments during the period October – December was 6,181 KSEK (3,762).
• The Company has received investment grants of 657 K€, corresponding 5,702
KSEK, from the Centre for Economic Development, Transport and the
Environment of Kainuu Region.
• Excellent results received from a infill drilling-program
• Sotkamo Silver acquired mining-rights in Mo i Rana, Norway. The acquisition
was financed through the debt claim the company had on the seller, Gexco A
/ S.
SUMMARY OF SIGNIFICANT EVENTS AFTER THE BALANCE
• Measured and indicated mineral-resources increased significantly from 3.5
million tons to 6 million tons resources at the Silver Mine.
• Change in number of shares and votes in Sotkamo Silver AB
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.
2014 Reporting Dates
• Annual General Meeting - March 21st, 2014, Stockholm
• Interim report Q1 2014 - May 23st, 2014
• Interim report Q2 2014 - August 22nd, 2014
• Interim report Q3 2014 - November 18th, 2014
The number of shares and votes in Sotkamo Silver AB has increased with 6,778
shares after subscription of shares through Warrants 3. The shares represent
approximately 0.048 % of total number of shares in the Company. The
subscription period ended on 30th November 2013. The Company has no outstanding
warrants.
The number of shares and votes in Sotkamo Silver AB is 14,159,634 shares and
the share capital is SEK 141,596,341.47. Quota value is SEK 10.
Company's press releases and financial reports are distributed via NGM and are
available on www.silver.fi
Stockholm, February 14th 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 number of shares and votes in Sotkamo Silver AB is 14,159,634 shares and
the share capital is SEK 141,596,341.47. Quota value is SEK 10
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.
