Sotkamo Silver: Silber, Gold, Zink in Nordskandinavien (Seite 2)

[Petronius]

Salve!

Super Zahlen!!!!!
 Net sales increased by 33 % to 120 MSEK (90 MSEK), driven mainly by a higher average silver grade and positive development of silver price
 EBITDA increased by 721 % to 53 MSEK (6), EBITDA margin increased to 44 % (7)
 EBIT increased to 34 MSEK (-16)
 Profitability increased significantly driven by a higher
average silver grade, higher silver price, improved efficiency of mining activities and decreased energy prices. The cost control measures initiated previous year had a positive impact on the Company’s operational costs
 Cash and cash equivalents decreased by 16 % to 36 MSEK (43)
 Investments decreased by 67 % to 8 MSEK (24)
 The production amounted to approximately 383,000 ounces of silver (281,000), 836 ounces of gold (796),
317 tonnes of lead (365), and 662 tonnes of zinc (824) in concentrates
https://www.silver.fi/images/Presentations/2023Q2/Sotkamo%20…

Meine Vermutung hinsichtlich Energiekosten ist aufgegangen.

Kurs in Helsinki gut 12% rauf.

Petronius

[Petronius]

SALVE!

Morgen kommen die Zahlen fuer Q2.2023. https://www.silver.fi/en/investors/financial-calendar
Hoffen wir auf bessere Ergebnisse dank Silberpreis und niedrigeren Energiekosten.

Petronius

[Petronius]

SALVE!

Hier mal gute News!
Das neue Atomkraftwerk ist in Finnland ans Netz gegangen. Effekt?
https://www.zerohedge.com/energy/newly-launched-finnish-nucl…
And while the plant’s production is still in its early days, its launch has had a considerable effect on Finland’s energy prices, lowering the electricity spot price in the country from €245.98 per megawatt-hour (MWh) in December to €60.55 per MWh in April, a reduction of more than 75 percent, according to physical electricity exchange, Nord Pool.

Das bedeutet eine starke ENtlastung auf der Kostenseite.

Petronius

[Petronius]

SALVE!

Zahlen für das erste Quartal wieder negativ.


https://news.cision.com/sotkamo-silver/r/quarterly-report--f…
HIGHLIGHTS OF THE FIRST QUARTER 2023
Net sales was 67 MSEK compared to the previous year 114 MSEK. The main reason was a lower mining volume. The average silver grade developed positively
EBITDA was 6 MSEK (38)
EBIT was -10 MSEK (15)
Cash and cash equivalents were 34 MSEK (44)
Investments were 8 MSEK (13)
The production was about 207 000 (336 000) ounces of silver, 516 (870) ounces of gold, 232 (465) tonnes of lead, and 515 (990) tonnes of zinc in concentrates
Company received gross proceeds of approx. 3.4 MEUR or 38.4 MSEK from the rights Issue before the deduction of transaction costs
The Company and the senior lenders agreed on February 13, 2023, upon an amendment to the terms of the senior loan agreement, postponing the first instalment (1.5 MEUR due on March 31, 2023) to be paid on the termination date of the senior loan agreement (March 31, 2026)
Company has provided a guarantee in accordance with the environmental permit as security for the obligations following the closure of the mine. According to the concluded contract, the guarantor released one million euros from the escrow account at the end of March 2023



Comparative figures refer to the corresponding period of the previous year.

CEO WORD

The year 2023 started with a challenging working capital situation for us. Actions for improving the financing situation were initiated already at the end of 2022 and during the first quarter of 2023 these steps were finalized. The share issue, postponing the senior loan amortization and releasing part of the escrow account funds were finalized. These actions ensure an adequate working capital situation for the short term.

Our mining and production plans and the current forecasts for the metal and electricity prices support the positive cash flow for the rest of 2023 and furthermore enable us to finance necessary investments like infill drilling.

Production volumes remained below the plans due to a delay in ramp-up with the new mining contractor. At the end of the quarter, the progress with the ramp-up has been developing in the required direction and we expect to stabilize the production during April.

The impact of the ramp-up delay is seen as temporary, and we estimate that there is no significant effect on the whole year’s production volumes. The new mining contractor is fully committed to improving their performance to a level that enables stable mining volumes and meeting the mining plans.

In the first quarter cash flow management was essential due to the tight working capital situation. This included tight control of all operative costs and investments. While postponing some of the planned costs, the company ensured that the mandatory investments are carried out to continue the operations normally after the winter period. For example, an infill drilling campaign was started, which will provide us with the needed data to plan and execute the mining in an accurate and cost-efficient manner.

The positive development in silver grade is encouraging and gives us confidence in returning to the estimated 90-110 g/tonne level.

I want to thank all the employees for their excellent work in the challenging past months. The uncertainty has undoubtedly affected everyone. The whole Silver team has together ensured that the operational capability is maintained and now when the winter turns to spring, we are ready to accelerate production to the levels where we need to be. Our expectation for the increasing silver grade and positive development in electricity and metal prices is setting the base for clear positive development in the rest of the year.


BUSINESS

The Company operates the silver mine in Sotkamo, Finland. The production was started in March 2019 and the mine produces silver, gold, zinc, and lead in concentrates which are sold to two smelters. In addition, the Pyrite is sold to smelters to minimize the environmental footprint at the tailings pond. The Company holds also mining and exploration rights to mineral deposits nearby current operations in the Sotkamo region in Finland.

Net sales was 67 MSEK compared to the previous year 114 MSEK. The main reason was a lower mining volume. The average silver grade developed positively. Milled ore tons were 97 000 tonnes and was on lower level due to the ramp-up period with new mining contractor. The silver head grade was improved from the previous quarter 72 to 82 g/t.

Other income of -2,6 MSEK (6) included mainly estimated unrealized final sales price adjustment due to the price difference between provisional and final invoices for the period. Net sales included -2 MSEK estimated final metal content adjustment due to metal content difference between provisional and final invoices for the period. The final sales price for silver and gold is based on the monthly average market price two months after the delivery, deducted by the customer’s smelter charges.

Investments in the underground mine and environmental investments amounted to 8 MSEK (13) in Q1. P700 project’s infill-drilling continued in Q1 which costs were included in the investments of the period.

In the first quarter, silver price traded in a range between $20.1 and $24.4 per ounce. At the end of the quarter, the price of silver was $23.9 per ounce.

The euro strengthened against the US dollar in the first quarter of the year from 1.0683 at the beginning of the year to 1.0875.




Key figures, group

Q1 2023

Q1 2022

FY 2022

Net sales MSEK

67

114

371

EBITDA MSEK

6

38

53

EBIT MSEK

-10

15

-34

Equity ratio (%)

40

30

38

Cash liquidity (%)

67

107

46

Personnel at end of the period

44

49

44

Mill feed (kt)

97

174

635

Average silver grade g/tonne

82

71

69




PRODUCTION AND GUIDANCE



In the first quarter, we milled 97 000 (173 000) tonnes of ore, and produced about 207 000 (336 000) ounces silver, 516 (870) ounces gold, 232 (465) tonnes lead, and 515 (990) tonnes zinc in concentrates.

The production volume was lower due to the new mining contractor ramp-up period, where delays in some of the mining equipment was extending the original ramp-up plan. In total, the volume remained roughly one-third under the planned silver production in Q1. The effect of the delayed ramp-up period is temporary and mining contractor capability is expected to be stabilized during April.

The silver head grades improved further in the first quarter and was 82 (71) g/tonne. The development with silver head grade has been according to the expectation and a further increase is expected during Q2 2023 as the mining will primarily focus on the new levels between 360- and 420-meters. The silver grade is expected to return to the longer-term average of 90-110 g/tonne.



Guidance for 2023

The Company repeats its guidance for 2023 given in February 2023: The Company expects to produce 1.4 -1.5 million ounces of silver in 2023. However, Company’s primary target is to maximize the revenue and operative cash flow. To achieve this, Company adjusts the mix of metals in the ore feed which might have an impact on the produced silver ounces.

Further Company expects annual EBITDA to be at least 28 % and net debt-to-EBITDA to be below 2.5 at year-end.



EVENTS AFTER THE REPORTING PERIOD



The following main decisions were made at the Annual General Meeting (AGM) held on April 18, 2023:

The income statement and the balance sheet for both the parent company and the group regarding the financial year 2022 were adopted by the AGM. The AGM decided that no dividend would be paid out for the financial year 2022. The members of the Board and the CEO were granted discharge from liability for the financial year 2022.​
The AGM decided that the Board would comprise of six ordinary members without deputy directors. Jarmo Vesanto, Kimmo Luukkonen, Eeva-Liisa Virkkunen, Sixten Sunabacka and Jukka Jokela were re-elected as directors and Mauri Visuri was elected as director. Eeva-Liisa Virkkunen was re-elected chairman of the Board.
The AGM resolved to re-elect the auditing company PWC until the end of the AGM 2024.
The guidelines for remuneration for the management and the procedure for appointing the members of the nomination committee were approved in accordance with the proposals from the Board.
The AGM approved the nomination committee’s proposal for annual fees to the Board.
The AGM resolved, for the period until the next AGM, to authorize the Board, at one or several occasions, to issue new shares or other financial instruments. The authorization is limited to a maximum dilution of ten (10) percent of the total number of shares outstanding at the time of the first Board resolution in accordance with the authorization.


​

FINANCIAL CALENDAR


Q2 July 28, 2023
Q3 October 25, 2023
Q4 February 15, 2024

Petronius

[Petronius]

GB2022

SALVE,

Die Zahlen für 2022 sind draussen. In Q4.2022 zumindest an Profitabilität gekratzt.
Silbergrade sollen nun besser werden und Silberpreis zumindest aus dem Keller raus.

Petronius

------------
HIGHLIGHTS OF THE FOURTH QUARTER 2022
Net sales was 100 MSEK compared to the previous year 99 MSEK. The rapid rise in metal prices in Q4 had a positive impact on net sales
EBITDA was 19 MSEK (28)
EBIT was -1 MSEK (6)
Cash and cash equivalents were 1 MSEK (37). The Company has a credit limit of EUR 1.5 million. The Company initiated the process and negotiations to obtain additional funding
Investments were 11 MSEK (25)
The production was about 294 000 (341 000) ounces of silver, 829 (869) ounces of gold, 401 (466) tonnes of lead, and 874 (1 049) tonnes of zinc in concentrates
LTIFR was 4 (23), which remained on the best level since the start of the production



HIGHLIGHTS OF THE FULL-YEAR 2022

Net sales was 371 MSEK (387)
EBITDA was 53 MSEK (92). EBITDA developed in Q4 positively compared to the previous two quarters, driven by increased production volumes, good metal price development and increased cost efficiency
EBIT was -34 MSEK (7)
EBIT was on a good level during Q1 2022, but decreased during the following quarters due to declined metal prices, the very high cost of energy, and the increased price of consumables. The cost of electricity almost doubled during year 2022 compared to the previous year
Investments were 61 MSEK (48)
The production was about 1 169 000 (1 374 000) ounces of silver, 3 285 (3 403) ounces of gold, 1 535 (1 494) tonnes of lead, and 3 335 (3 373) tonnes of zinc in concentrates
Operative cash flow was 13 MSEK (36)


CEO WORD

Net sales and profitability improved during Q4 as metal prices and production volumes increased. The Company was able to cope with fluctuating electricity prices without significant production disturbances.

The cost control measures that were initiated during the autumn had a positive impact on the Company’s operative costs. Among several other measures, we implemented new practices to optimize electricity consumption and cost. These new practices will bring us benefits not only in the current situation but in long term as well.

Moving the mining operations to new levels below 360m level has been progressing as planned and we saw improvement in average silver grade since November. The silver grade is expected gradually to improve as we move the mining operations to new levels. During Q2 this year the mining will be primarily shifted to the new levels and silver grade is expected to rise to the 90-110 g/t range which will increase production volumes and improve profitability.

The situation with cash and cash equivalents remains challenging. Improving the working capital situation is our primary short-term focus. The announced share issues and possible other financing arrangements are expected to be finalized by the end of Q1 2023. Improved metal prices, lowering electricity prices and improving metal grades are expected to improve profitability as the year progress.

The drilling results published in December give us confidence for increasing the silver production in 2023 and potentially extending the Life of Mine in coming years. The drilling results are further used to plan the next infill drilling campaigns. Infill drilling will ensure proper planning and cost-efficient execution of mining activities as well target to upgrading existing mineral resources to ore reserves.

The past months have been challenging for the Company and I want to thank the whole organization for their dedication to the issues at hand. Focus on cost control and efficiency has been shared on all levels of the organization and work for 2023 preparations has been progressing well. Among other things, preparing for mining contractor change, starting a new infill drilling campaign, implementing new ways to optimize electricity costs, and finalizing the tailings pond raise have been the results of hard work from the whole team.


BUSINESS

The Company operates the silver mine in Sotkamo, Finland. The production was started in March 2019 and the mine produces silver, gold, zinc, and lead in concentrates which are sold to a smelter. In addition, the Company holds mining and exploration rights to mineral deposits nearby current operations in the Sotkamo region in Finland.

In the last quarter Net sales was 100 MSEK compared to the previous year’s 99 MSEK. The rapid rise in metal prices in Q4 had a positive impact on net sales. Milled ore totalled 154 000 (182 000) tonnes including the marginal ore.

In 2022 EBITDA was 53 MSEK (92). EBITDA developed in Q4 positively compared to the previous two quarters, driven by increased production volumes, good metal price development, and increased cost efficiency.

EBIT was on a good level during Q1 2022 but decreased during the following quarters due to declined metal prices, the very high cost of energy, and the increased price of consumables. The cost of electricity almost doubled year 2022 compared to the previous year.

Other income of 7 MSEK (1) included sales of fixed assets 1 MSEK and 6 MSEK estimated unrealized final sales price adjustment due to the price difference between provisional and final invoices for the period. Net sales included -0,5 MSEK estimated final metal content adjustment due to the metal content difference between provisional and final invoices for the period. The final sales price for silver and gold is based on the monthly average market price two months after the delivery, deducted by the customer’s smelter charges.

Investments in the underground mine and environmental investments amounted to 11 MSEK (25) in Q4. Environmental investments included tailings pond dam raise amounting to 2 MSEK. The P700 project’s infill drilling continued in Q4 and the costs were included in the investments of the period.

The Company has implemented a directed issue of convertibles of an aggregate nominal amount of up to MEUR 6,4. The convertible contains two components: a conversion option component that will be recognised at fair value using the Black-Scholes model through a profit and loss account and a liability component that will be recognised at amortised cost using the effective interest rate method. At the inception date, the fair value of the convertible option liability was 34 MSEK and the fair value of the liability component was 32 MSEK. On December 31, 2022, the fair value of the convertible option component was 2 MSEK and the fair value of the liability component was 39 MSEK. The fair value changes recognised through Profit and Loss account: conversion option liability 1 MSEK, and liability component 3 MSEK.

The Company received waivers from senior loan and credit facility creditors which allows for deviation from the loan terms regarding the covenant relating to the Company's net debt in relation to EBITDA.


Key figures, group

Q4 2022

Q4 2021

FY 2022

FY 2021

Net sales MSEK

100

99

371

387

EBITDA MSEK

19

28

53

92

EBIT MSEK

-1,1

6

-34

7

Equity ratio (%)

38

38

38

38

Cash liquidity (%)

46

27

46

27

Personnel at end of the period

44

49

44

49

Mill feed (kt)

154

182

635

624

Average silver grade g/tonne

72

71

69

79



PRODUCTION AND GUIDANCE



In the fourth quarter, we milled 154 000 (182 000) tonnes of ore and produced about 294 000 (341 000) ounces of silver, 829 (869) ounces gold, 401 (466) tonnes lead, and 874 (1049) tonnes zinc in concentrates.

The silver head grade improved from Q3, November and December having the highest grades of 2022 with 77 g/t. Milled volume was on planned level, even concentration plant was shut down on several short periods due to high electricity price. This was possible through the earlier increased capacity of the concentration plant. Other metals were in line with the increased silver production.

During the last quarter we mined in the underground mine and the open pit was not operated. Mining was progressing to lower levels and first stopes were mined between 360- and 420-levels. This had the expected positive impact to the ore silver grade. Company expects the silver grades to improve further as the mining of the new levels progresses. From Q2 2023 onwards the mining will primary focus on the new levels and silver grade is expected to return to the longer term average of 90-110 g/t.

Guidance for 2023

The Company expects to produce 1.4 -1.5 million ounces of silver in 2023. However, Company’s primary target is to maximize the revenue and operative cash flow. To achieve this, Company adjusts the mix of metals in the ore feed which might have an impact on the produced silver ounces.

Further Company expects annual EBITDA to be at least 28 % and net debt-to-EBITDA to be below 2.5 at year-end.

Medium-term Targets

The Company's Board of Directors has decided on the following medium-term targets until 2025:

Annual silver production > 1.5 Moz
Annual EBITDA > 30 %
Net Debt- to-EBITDA < 2.0
Extending Life of Mine by five years until 2035
Performance rating A verified in all Kaivosvastuu (https://www.kaivosvastuu.fi/) protocols by the external auditor in 2024.


The Company's profitability is significantly affected by external factors, such as metal prices, exchange rates, as well as energy prices. The achievement of guidance and medium-term targets requires external factors to remain at the level forecasted by the market in mid-February 2023. Further, achieving the guidance requires strengthening the working capital through share issues and other financing arrangements during Q1 2023. Achieving the objective of extending the LOM requires sufficient financial resources to implement the drilling program.





EVENTS AFTER THE REPORTING PERIOD

On January 1, 2023, Veljekset Toivanen Oy started as a mining contractor.

The Board of Directors of Sotkamo Silver AB resolved on January 17, 2023, a share issue with preferential rights for existing shareholders as well as a directed share issue of in aggregate a maximum of approximately 5 MEUR in order to strengthen the Company’s financial position. The share issues are conditional upon the approval of an extraordinary general meeting to be held on February 16, 2023. The planned share Issues consist of a rights issue of approximately 4.0 MEUR and a directed issue of approximately 1.0 MEUR, providing the Company with gross proceeds of approximately 5.0 MEUR upon full subscription. The proceeds from the share issues will primarily be used to increase the working capital. The directed issue will be directed to a limited number of institutional investors. The maximum number of new shares to be issued is 100,183,105 in the rights issue and 25,000,000 in the directed issue, in total a maximum number of 125,183,105 new shares. The record date for the right to receive subscription rights will be February 20, 2023. Those who are registered as shareholders on the record date shall receive one subscription right for each share held in Sotkamo Silver. Two subscription rights entitle to subscription for one new share in the Company. The subscription price is 0.04 EUR or 0.45 SEK per share in the rights issue and the directed issue. The subscription period for the share issues will commence on February 22, 2023 and end on March 8, 2023. A prospectus regarding the share issues will be published around February 17, 2023.

The Company and the senior lenders have February 13, 2023, agreed upon an amendment to the terms of the senior loan agreement, postponing the first instalment (1.5 MEUR due on March 31, 2023) to be paid on the termination date of the senior loan agreement (March 31, 2026).

The Company gave February 14, 2023, guidance for the year 2023 and defined medium-term operational and financial targets to support the implementation of the strategy (please see section Production and guidance in this report).

[Petronius]

SALVE!

Eine neue aoHV wurde einberufen.
Hier Hintergrundinfos:


https://news.cision.com/sotkamo-silver/r/sotkamo-silver-s-bo…
SOTKAMO SILVER’S BOARD OF DIRECTORS HAS RESOLVED UPON SHARE ISSUES OF IN AGGREGATE A MAXIMUM OF APPROX. EUR 5M, CONDITIONAL UPON THE EGM’S APPROVAL

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, NEW ZEALAND, THE UNITED STATES OR ANY OTHER COUNTRY WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE ADDITIONAL DOCUMENTS TO BE PREPARED OR REGISTERED OR REQUIRE ANY OTHER ACTIONS TO BE TAKEN, IN ADDITION TO THE REQUIREMENTS UNDER SWEDISH LAW. THIS PRESS RELEASE IS NOT A PROSPECTUS OR AN OFFER FOR SALE OF SECURITIES. SECURITIES MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. SOTKAMO SILVER DOES NOT INTEND TO REGISTER ANY PART OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF THE SUBSCRIPTION RIGHTS OR THE SHARES IN THE UNITED STATES. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

The Board of Directors of Sotkamo Silver AB (“Sotkamo Silver” or the “Company”) has today resolved on a share issue with preferential rights for existing shareholders (the “Rights Issue”) as well as a directed share issue (the “Directed Issue” and jointly with the Rights Issue, the “Share Issues”) in order to strengthen the Company’s financial position. The Share Issues are conditional upon the approval of an extraordinary general meeting to be held on 16 February 2023. The final terms for the Share Issues will be communicated around 10 February 2023.

The Share Issues in brief

• Based on feedback from the Company’s shareholders, the Board of Directors has resolved upon significantly smaller share issues than previously communicated. According to the Company’s understanding, certain shareholders considered the size of the previously proposed share issues to be too large, considering e.g. the favourable development of the silver price during the past months. The primary aim of the smaller share issues, together with other possible financing measures, is therefore to meet the working capital need arising around March 2023.
• Upon full subscription, the Share Issues will provide Sotkamo Silver with gross proceeds of a maximum of approximately EUR 5M before deduction of transaction related costs. The proceeds from the Share Issues will be used to increase the Company’s working capital.
• The Directed Issue will be directed to a limited number of institutional investors.
• The final terms of the Share Issues, including the subscription price and the number of shares to be issued will be announced around 10 February 2023.
• Shareholders representing approx. 8.5 percent of the shares and the votes in the Company have preliminarily indicated that they intend to vote in favour of the Share Issues at the EGM.
• The subscription period for the Rights Issue will commence on 22 February 2023 and end on 8 March 2023.
• The record date for the right to receive subscription rights will be 20 February 2023. Subscription rights will be allocated in proportion to the number of Sotkamo Silver shares held on the record date.
• The Share Issues are conditional upon the approval of an extraordinary general meeting of Sotkamo Silver, which will be held on 16 February 2023 (the “EGM”). A notice of the EGM will be announced separately.

Background and reasons

The prevailing general economic and market situation has had an impact on the Sotkamo Silver’s operations and profitability during 2022. The sharply increased prices of energy and consumables, as well as the great uncertainty and volatility associated with energy and metal prices, has required measures to ensure the profitability of production and the continuity of operations. The Company therefore needs to strengthen its financial position and requires additional working capital to meet the variations.

The Share Issues

Upon full subscription, the Share Issues will provide Sotkamo Silver with gross proceeds totalling a maximum of approximately EUR 5M before deduction of transaction related costs.

The subscription period for the Rights Issue will commence on 22 February 2023 and end on 8 March 2023. The record date for the right to receive subscription rights will be 20 February 2023. Subscription rights will be allocated in proportion to the number of shares in Sotkamo Silver held on the record date. The subscription rights will be admitted to trading on NGM Main Regulated and Nasdaq Helsinki during the period 22 February–3 March 2023.

The Directed Issue will be directed to a limited number of institutional investors. The reason for the deviation from the shareholders' preferential rights is that the Company needs to strengthen its financial position. The Board of Directors has considered a larger rights issue to further secure the Company's needs. However, the Company has received indications from its shareholders that they are not willing to participate in a larger rights issue (a larger rights issue was proposed at the extraordinary general meeting held on 28 December 2022 but was not approved by the shareholders). The Board of Directors is therefore of the opinion that it is in the Company's and the shareholders' best interest to have a separate directed share issue to enable participation from non-existing shareholders at higher amounts than what may potentially not be picked up by existing shareholders in the Rights Issue. Another reason for the deviation from the shareholders' preferential rights is to further strengthen the shareholder base with institutional shareholders.

Pursuant to the Board of Directors' resolution, the Board of Directors is authorised to resolve on the lowest and the highest amount by which the Company’s share capital shall be increased, the lowest and the highest number of shares which shall be issued and the amount to be paid for each new share in the Rights Issue and Directed Issue, respectively. Such final terms of the Share Issues will be announced around 10 February 2023.

The possibility for the Board of Directors to determine the lowest number of shares in the Share Issues means that completion of the Share Issues may be conditional upon that a certain level of subscription is achieved in the Share Issues. If such level of subscription is not achieved, the Share Issues will not be executed. Upon such cancellation of the Share Issues, subscribers having subscribed and paid for shares in the Share Issues will have the subscription price repaid. It should be noted however that any subscription rights received or acquired will become worthless (without compensation) in the event of cancellation of the Share Issues.

Extraordinary General Meeting
Through a separate press release, the Board of Directors will give notice of an EGM to be held on 16 February 2023 to resolve upon the approval of the Share Issues.

In addition to the Share Issues, the notice of the EGM will include proposals to, inter alia, decrease the share capital, resolve upon a bonus issue and make adjustments to the articles of association, which are necessary to carry through the proposed Share Issues.

Shareholders representing approx. 8.5 percent of the shares and the votes in the Company have preliminarily indicated that they intend to vote in favour of the Share Issues and the adjacent proposals at the EGM.

Prospectus
Sotkamo Silver will prepare a prospectus regarding the Share Issues. Sotkamo Silver intends to publish the prospectus around 17 February 2023.

Preliminary timetable for the Share Issues
• Around 10 February 2023: Announcement of the final terms, including the subscription price and the number of shares to be issued under the Share Issues, subject to approval by the EGM
• 16 February 2023: EGM to resolve upon, inter alia, approval of the Share Issues
• 16 February 2023: Last day of trading in shares including right to receive subscription rights
• 17 February 2023: First day of trading in shares excluding right to receive subscription rights
• Around 17 February 2023: Publication of the prospectus
• 20 February 2023: Record date for right to receive subscription rights in the Rights Issue
• 22 February–8 March 2023: Subscription period in Share Issues
• Around 10 March 2023: Estimated date for publication of final results of the Share Issues


Petronius

[Petronius]

SALVE!

Hier mal eine Sicht auf den Silberpreis mit GLD90 und GLD180 zum Jahresende.

Einfaches Einfügen von wallstreetONLINE Charts: So funktionierts.

Im letzten Quartal müsste die Einnahmenseite deutlich besser geworden sein.

Könnte die KE abgesagt worden sein, weil die Zahlen deutlich besser sind?

Petronius

[Petronius]

SALVE!

Wenn man sich den relativen Silber- und Dieselpreis anschaut, dann sieht es für das 4. Quartal definitiv besser aus:

Einfaches Einfügen von wallstreetONLINE Charts: So funktionierts.

Erholt sich die Bude und deshalb keine Kapitalmassnahmme oder organisiert man die Pleite mit Vorteil für die Grossaktionäre?

Petronius

[Petronius]

Antwort auf Beitrag Nr.: 72.985.213 von Petronius am 28.12.22 13:05:54

Nachtrag.

Das Szenario 1 ist unwahrscheinllich, sonst hätte die Verwaltung doch nicht eine solche fette Kapitalerhöhung vorgeschlagen!
Ich befürchte eher, die Mehrheit will eine unverschämte Kapitalerhöhung ohne Bezugesrecht für uns, den Pöbel.

Petronius

[Petronius]

SALVE!

Die angekündigte Kapitalerhöhung kommt nicht!
https://www.silver.fi/en/investors/press/press-relases/newsf…

Scheinbar hat die Mehrheit der Aktionäre gegen den Plan gestimmt.
Was sagt dier Mehrheit somit implizit?

- Keine Verwässerung, weil der Laden auch so über die Runden kommt?
- Der Laden ist strukturell nicht profitabel und man zieht nun den Stecker ?
- Man lässt den Laden in Schwierigkeiten laufen, kauft dann aus der Konkursmasse alles auf?

Irgendwie scheinen mir alle drei Szenarien nicht vorteilhaft für uns, den Pöbel, zu sein.

Petronius