SOTKAMO SILVER HAS ACQUIREDTHE CONSTRUCTION OF THE CONCENTRATOR PLANT BUILDING. THE SIZE OF THE INVESTMENT IS APPROXIMATELY 6.5 M€
After the successful warrant issue, Sotkamo Silver will continue to take measures to open the Silver Mine. The Company has decided to launch the design and construction of the concentrator plant building of the Silver Mine. The size of the decided investments is approximately EUR 6.5 million. Ruukki Construction Oy was chosen as the main contractor and building supplier. The building and included investments are expected to be completed by the end of June 2018.
"I am pleased that the Board of the Company decided to start the construction of the concentrator building with help of Company’s strong cash position, even though the negotiations on the overall financing package still persist. This decision will speed up the launch of mining operations and allow us to keep up to the current timetable and budget, " says Dr. Tech. Timo Lindborg, CEO Sotkamo Silver.
Stockholm October 11th, 2017
Sotkamo Silver AB (publ)
Timo Lindborg, CEO
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.45 CEST on October 11th, 2017.
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507
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.
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on d or www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi