SOTKAMO SILVER: THE MINE CONSTRUCTION IS PROGRESSING ACCORDING TO SCHEDULE AND BUDGET
The Silver Mine project is proceeding on schedule and in the planned cost framework. The concrete floors of the production building are concluded, and the machinery and equipment installation start. The foundations of the crushed ore storage have been cast, and the erection of the building begins. The process water line from Olkilahti pump station has been completed. The earth removing works of the open pit area and the construction of the ponds and dams progress as planned. The construction site now has a staff of about 90 people and will increase to around 150 people during the equipment installation phase in September.
The following essential steps in the project are:
- Completion of the building of the concentrating plant
- Start-up of mining in both open-pit mining and underground mines
- Installation of grinding mills and process automation
- Completion of process water ponds
- Completion of the water treatment plant
- Completion of device and equipment installation
- Start of test runs and test production
- Start-up of the production
The aim is to launch commercial production of Silver Mine in early 2019.
"The summer has been very favourable for the construction work. The warm weather has contributed to infrastructure and construction works. We have been very successful in our contractor choices, and the co-operation has been smooth, and the project is progressing according to plans in all areas”, says Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, September 3rd 2018
Timo Lindborg, CEO
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 4th September 2018, at 8.45 CET.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
About Sotkamo Silver AB
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. 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.
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
Read more about Sotkamo Silver on www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi