Auriant Mining AB (publ.) publishes January - June 2019 Interim Report
- During H1 2019, mining operations were carried out at the Pravoberezhniy deposit, which will be the main source of ore in 2019. 189.2 thousand tonnes of ore were mined at an average grade of 2.59 g/t. Volume of stripping works amounted to 515 thousand m3.
- In H1 2019, Tardan continued production on the heap leach. 172.6 thousand tonnes of ore with an average grade of 2.23 g/t were stacked. In H1 2019, heap leach production at Tardan amounted to 227.3 kg (7,308 oz), an increase of 106% compared to 110.3 kg (3,545 oz) in H1 2018.
- In May 2019, alluvial production resumed at Solcocon. During the reporting period, the Company produced 27.4 kg (880 oz) of alluvial gold, an increase of 50% compared to 18.3 kg (587 oz) produced in the previous period.
- Total gold production for the H1 2019 was 254.7 kg (8,188 oz), an increase of 98% compared to 128.5 kg (4,133 oz) in H1 2018.
- In March 2019, the Company raised US$ 0.8 mln of financing with LLC Delta, as a result of a sale and leaseback transaction, which was used to fund the CIL construction project.
- In Q2 2019, the Company drew down the second tranche of the loan facility ( US$ 2.2 mln), provided by VTB to finance the CIL construction at Tardan.
- During H1 2019, the Company continued to invest in the construction of the CIL plant. The total amount invested during the period amounted to US$ 4.0 mln. Construction works are almost complete and all processing equipment is installed. Capacitive equipment has successfully passed water tests. Despite the construction process progressing without any major deviations from the initial plan, we expect that the start date will move to the middle of September 2019.
- In April 2019, the resources of the Kara-Beldyr deposit were approved by the State Reserve Committee (GKZ). According to the resource statement filed by Auriant Mining for approval, Kara-Beldyr C1 and C2 resources amounted to 842 thousand ounces of gold (26.2 tonnes) with an average grade of 3.38 g/t and 2,044 thousand ounces of silver, (63.6 tonnes) with an average grade of 8.2 g/t. This latest resource statement confirms Auriant’s confidence of building a mine that is able to produce up to 2 tonnes of gold/year for over 10 years.
- Consolidated revenue was MSEK 100.4 (US$ 10.8 mln) compared to MSEK 49.8 (US$ 5.9 mln) in H1 2018.
- EBITDA was MSEK 11.8 (US$ 1.3 mln) compared to MSEK -20.8 (US$ -2.5 mln) in H1 2018.
- Net loss after tax was MSEK -11.8 (US$ -1.9 mln) compared to MSEK -56.8 (US$ -6.7 mln) in H1 2018.
Full report is available here:
For more information, please contact:
Sergey Ustimenko, VD
Tel: +7 495 109 02 82
Company name: Auriant Mining AB
Short name: AUR
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon), one early stage exploration asset and one development asset.
Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR. For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50, e-mail CA@mangold.se or visit www.mangold.se .
This information is information that Auriant Mining AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.30 CET on August 30 th, 201 9
Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
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