Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Result of the Placing of up to 22,280,000 new Ordinary Shares of Talvivaara Mining Company Plc

Talvivaara Mining Company Plc (TALV LN)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR IN
ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW 


Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that it
has raised £71.3 million (€82.4 million) before commissions and expenses by the
Placing completed today of 22,280,000 new Ordinary Shares representing
approximately 10 per cent of the number of the existing shares of the Company
(the "Placing") to both new and existing institutional shareholders (the"Placees") at 320 pence (€3.70) per share (the “Placing Price”). Merrill Lynch
International (“Merrill Lynch”) and Liberum Capital Limited (“Liberum”) acted
as joint bookrunners in relation to the Placing. 

The Placing Shares will be issued credited as fully paid and will rank pari
passu with the existing Ordinary Shares, including the right to receive all
dividends and other distributions declared in respect of such shares after the
date of issue of the Placing Shares. 

The Company will apply for admission of the Placing Shares to trading on the
main market of the London Stock Exchange and the Helsinki Stock Exchange
("Admission"). It is expected that Admission will take place and that trading
will commence on 8 July 2009. 

The Placing is conditional upon, inter alia, Admission becoming effective and
upon the passing of the resolutions (without amendment) at the EGM scheduled
for 6 July 2009. The Placing is also conditional on the placing agreement made
between the Company, Merrill Lynch and Liberum not being terminated. It is
anticipated that the settlement date will be 8 July 2009. 

The Board of Directors of the Company will shortly convene the EGM to resolve
upon the issue of the Placing Shares. 

Capitalised terms used, but not defined in this announcement have the same
meanings as set out in the announcement of the Placing made earlier today. 

Contacts

Talvivaara Mining Company Plc +358 20 712 9800
Pekka Pera		
Saila Miettinen-Lahde		
Merrill Lynch International	 +44 20 7996 1000
Harri Sundvik		
Craig Coben		
Andrew Osborne		
Liberum Capital Limited +44 20 3100 2000
Clayton Bush		
Ellen Francis
Merlin +44 20 7653 6620
Tom Randell		
Anca Spiridon

This announcement contains (or may contain) certain forward-looking statements
with respect to certain of the Company's plans and its current goals and
expectations relating to its future financial condition and performance and
which involve a number of risks and uncertainties.  The Company cautions
readers that no forward-looking statement is a guarantee of future performance
and that actual results could differ materially from those contained in the
forward-looking statements. These forward-looking statements can be identified
by the fact that they do not relate only to historical or current facts.
Forward-looking statements sometimes use words such as "aim", "anticipate","target", "expect", "estimate", "intend", "plan", "goal", "believe", or other
words of similar meaning. Examples of forward-looking statements include,
amongst others, statements regarding or which make assumptions in respect of
the future continued operation of the Group's producing assets, the timing of
the commencement of future production and the sustainability of that
production, the ability of the Group to discover new resources, the prices
achievable by the Group in respect of its production, the costs of exploration,
development or production, future foreign exchange rates, interest rates and
currency controls, the future political and fiscal regimes in the overseas
markets in which the Group operates, the Group's future financial position,
plans and objectives for future operations and any other statements that are
not historical fact. By their nature, forward-looking statements involve risk
and uncertainty because they relate to future events and circumstances,
including, but not limited to, economic and business conditions, the effects of
continued volatility in credit markets, market-related risks such as changes in
the price of commodities or changes in interest rates and foreign exchange
rates, the policies and actions of governmental and regulatory authorities,
changes in legislation, the further development of standards and
interpretations under International Financial Reporting Standards ("IFRS")
applicable to past, current and future periods, evolving practices with regard
to the interpretation and application of standards under IFRS, the outcome of
pending and future litigation or regulatory investigations, the success of
future explorations, acquisitions and other strategic transactions and the
impact of competition. A number of these factors are beyond the Company's
control. As a result, the Company's actual future results may differ materially
from the plans, goals, and expectations set forth in the Company's
forward-looking statements. Any forward-looking statements made in this
announcement by or on behalf of the Company speak only as of the date they are
made. Except as required by the Financial Services Authority (the "FSA"), the
FFSA, the London Stock Exchange, the Helsinki Stock Exchange or applicable law,
the Company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
in this announcement to reflect any changes in the Company's expectations with
regard thereto or any changes in events, conditions or circumstances on which
any such statement is based. 

This announcement is for information purposes only and shall not constitute an
offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to
buy, sell, issue, or subscribe for any securities, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. 
Merrill Lynch and Liberum, each of which is authorised and regulated in the
United Kingdom by the FSA, are acting for the Company and for no-one else in
connection with the Placing, and will not be responsible to anyone other than
the Company for providing the protections afforded to their respective
customers or for providing advice to any other person in relation to the
Placing or any other matter referred to herein. 

The distribution of this announcement and the offering of the Placing Shares in
certain jurisdictions may be restricted by law. No action has been taken by the
Company or the Joint Bookrunners that would permit an offering of such shares
or possession or distribution of this announcement or any other offering or
publicity material relating to such shares in any jurisdiction where action for
that purpose is required. Persons into whose possession this announcement comes
are required by the Company and the Joint Bookrunners to inform themselves
about, and to observe such restrictions. 

The price of shares and the income from them may go down as well as up and the
Placees may not get back the full amount invested on disposal of the Placing
Shares 
MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS
ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS DIRECTED ONLY AT PERSONS
WHO ARE: (A) (I) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE
FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE"ORDER"), OR (II) PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) ("HIGH NET
WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC") OF THE ORDER, OR (III)
PERSONS TO WHOM IT MAY OTHERWISE BE LAWFULLY COMMUNICATED; AND (B) (I) PERSONS
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA WHO ARE QUALIFIED INVESTORS (AS
DEFINED IN ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC (THE "PROSPECTUS
DIRECTIVE")), AND/OR (II) PERSONS IN THE UNITED KINGDOM WHO ARE QUALIFIED
INVESTORS (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS").
THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT
RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED
IN ONLY WITH 
RELEVANT PERSONS. THIS ANNOUNCEMENT DOES NOT ITSELF CONSTITUTE AN OFFER FOR
SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. 

This announcement is not for distribution directly or indirectly in or into the
United States (including its territories and possessions, any State of the
United States and the District of Columbia), Canada, Australia or Japan or any
jurisdiction into which the same would be unlawful. This announcement does not
constitute or form part of an offer or solicitation to purchase or subscribe
for shares in the capital of the Company in the United States, Canada,
Australia or Japan or any jurisdiction in which such an offer or solicitation
is unlawful. In particular, the Placing Shares referred to in this announcement
have not been, and will not be, registered under the Securities Act or under
the securities legislation of any state of the United States, and may not be
offered or sold in the United States absent registration or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements under the Securities Act. Subject to exceptions, the Placing
Shares referred to in this announcement are being offered and sold only outside
the United States in accordance with Regulation S under the Securities Act. No
public offering of securities of the Company will be made in connection with
the Placing in the United Kingdom, Finland, the United States or elsewhere. 

The relevant clearances have not been, and nor will they be, obtained from the
securities commission of any province or territory of Canada; no prospectus has
been lodged with, or registered by, the Australian Securities and Investments
Commission or the Japanese Ministry of Finance; and the Placing Shares have not
been, and nor will they be, registered under or offered in compliance with the
securities laws of any state, province or territory of Canada, Australia or
Japan. Accordingly, the Placing Shares may not (unless an exemption under the
relevant securities laws is applicable) be offered, sold, resold or delivered,
directly or indirectly, in or into the United States, Canada, Australia or
Japan or any other jurisdiction in which offers or sales would be prohibited by
applicable law. 

The Placing Shares have not been approved or disapproved by the US Securities
and Exchange Commission, any State securities commission or any other
regulatory authority in the United States, nor have any of the foregoing
authorities passed upon or endorsed the merits of the Placing or the accuracy
or adequacy of this announcement. Any representation to the contrary is
unlawful. 

Persons (including, without limitation, nominees and trustees) who have a
contractual or other legal obligation to forward a copy of this announcement
should seek appropriate advice before taking any action. 

This announcement relates to an "Exempt Offer" in accordance with the Offered
Securities Rules of the Dubai Financial Services Authority ("DFSA"). This
announcement is intended for distribution only to persons of a type specified
in the Offered Securities Rules of the DFSA. It must not be delivered to, or
relied on by, any other person. The DFSA has no responsibility for reviewing or
verifying any documents in connection with Exempt Offers. The DFSA has not
approved this announcement nor taken steps to verify the information set forth
herein and has no responsibility for this announcement. The Placing Shares to
which this announcement relates may be illiquid and / or subject to
restrictions on their resale. Prospective purchasers of the Placing Shares
offered should conduct their own due diligence on the Placing Shares. If you do
not understand the contents of this announcement you should consult an
authorised financial advisor. 

The Placing Shares to be issued pursuant to the Placing will not be admitted to
trading on any stock exchange other than the London Stock Exchange and the
Helsinki Stock Exchange. Neither the content of the Company's website nor any
website accessible by hyperlinks on the Company's website is incorporated in,
or forms part of, this announcement. 

Attachments:

result of the placing 020609.pdf