Sotkamo Silver Rebounds: Improved Profitability and Commitment to Production Targets

Sotkamo Silver, a junior mining company based in Sweden, reported improved profitability in its silver mining operations compared to the previous year. Despite experiencing an operating loss of SEK 1 million on a turnover of SEK 85 million in the first quarter of the year, the company saw an increase in silver production and maintained its production guidance for the year.

In comparison to the same period last year, Sotkamo Silver’s operating loss was lower by SEK 8.7 million kronor on a turnover of SEK 67.2 million kronor. Additionally, the company’s EBITDA increased from 6 million kronor to 17 million kronor due to higher silver production volumes, a higher average silver content, and a favorable development of the silver price.

Sales of zinc and lead decreased due to lower prices and concentrations. However, despite these challenges such as inflation and rising costs, Sotkamo Silver is committed to achieving its production targets and maintaining a high level of profitability in the years to come. The company is focusing on operational efficiency and closely monitoring external factors such as metal prices and exchange rates.