Talvivaara's liquidity position stable; no personnel reductions being planned
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
3 September 2012
Talvivaara's liquidity position stable; no personnel reductions being planned
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that
recent publicly reported claims regarding the development of the Company's cash
position during the remainder of the year and ongoing or planned personnel
reductions are incorrect.
The temporary alteration to the Company's near-term production scheme announced
in connection with the 16 August 2012 Interim Report is proceeding as planned,
and Talvivaara expects to achieve substantial cost savings without any personnel
impact. Talvivaara anticipates the Company's cash reserves to remain sufficient
regardless of the low nickel price on the basis of current cash position and
previously announced near-term production and cost savings measures.
ENQUIRIES
Talvivaara Mining Company Plc Tel: +358 20 7129 800
Harri Natunen, CEO
Saila Miettinen-Lähde , Deputy-CEO and CFO
Talvivaara Mining Company Plc
Talvivaara Mining Company is an internationally significant base metals producer
with its primary focus on nickel and zinc using a technology known as
bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction
of metals from low grade ore economically viable. The Talvivaara deposits
comprise one of the largest known sulphide nickel resources in Europe. The ore
body is estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming agreement with Nyrstar NV. Talvivaara is listed on the London Stock
Exchange Main Market and NASDAQ OMX Helsinki and is included in the FTSE 250
Index. Further information can be found at www.talvivaara.com.
Talvivaara - Stable liquidity; no personnel reductions 3.9.12:
http://hugin.info/136227/R/1638237/526982.pdf
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originality of the information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1638237]
Unternehmensinformation / Kurzprofil:
Datum: 03.09.2012 - 09:16 Uhr
Sprache: Deutsch
News-ID 179658
Anzahl Zeichen: 2912
contact information:
Town:
Espoo
Kategorie:
Business News
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"Talvivaara's liquidity position stable; no personnel reductions being planned"
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Talvivaaran Kaivososakeyhtiö Oyj (Nachricht senden)
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