Brief: Sotkamo Silver Q2 Net Loss Widens To SEK 35 Mln

Sotkamo Silver AB

23/08/2019 07:47

Aug 23 (Reuters) - Sotkamo Silver AB  SOSIL.NGM :
    * HALF YEAR FINANCIAL REPORT 2019
    * Q2 REVENUE WAS 30 MSEK (0)
    * Q2 NET PROFIT WAS -35 MSEK (-8)
    * BOARD RESOLVED TO A DIRECTED SHARE ISSUE OF 4.2 MILLION
SHARES
AT 3,60 SEK AND AN ISSUE OF A CONVERTIBLE BOND OF 15 MILLION
SEK.
    * SLIGHTLY DELAYED PRODUCTION CAUSED SHORTFALL OF REVENUES
COMPARED WITH PLAN
    * WITH HIGH FEED RATE, GOOD PERFORMANCE OF MINE AND PLANT WE
EXPECT TO REACH EARLIER SET 330-350,000 TONNES FEED AMOUNT AND
1,15-1,25 MILLION TROY OUNCES OF SILVER PRODUCTION TARGET FOR
THIS YEAR
    * GOAL IS THAT RAMP-UP PERIOD IS COMPLETED AND SILVER MINE
WILL BE
IN FULL PRODUCTION BY END OF AUGUST

Source text for Eikon:  ID:nWkr3nh1qV 
Further company coverage:  SOSIL.NGM 

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