Stockholm, 2013-02-01 09:00 CET (GLOBE NEWSWIRE) --
- Production for the Group increased by 56% and amounted to 642 kg (20,640 oz.) within the target range set by the company 600 – 700 kg (19,290 – 22,505 oz.)
- Company forecasts gold production 2013 of 1,000 -1,200kg (32,150 – 38,580 oz.)
- Successful commissioning of the Tardan heap leach plant
- Alluvial production of gold outsourced to an experienced operator
- Company management restructuring completed
- New teams in place at mines
- Shareholder debt restructured
- Board of Directors strengthened with the addition of several highly regarded international gold industry professionals
Denis Alexandrov, CEO of Auriant Mining AB, commenting on the results said, “2012 was a transformational year for the company. Auriant has made the successful transition from a mostly exploration company to becoming a gold producer. We have commissioned a new heap leaching operation at Tardan which has performed as we predicted. In 2013 we are targetting production of at least one tonne of gold and laying the foundations for further growth to become a mid-tier gold producer. In H2 2012 we also successfully completed the management reorganisation of the company, and strengthened the teams at our mines. In addition the balance sheet was improved with the restructuring of the shaeholder’s loan and new relationships established with banks. ”
Production
| Production unit | License area | 12m 2012 | 12m 2011 | ||
| kg | oz | kg | oz | ||
| Hard rock | |||||
| Tardan (gravitational) | Tardan | 55 | 1,768 | 96 | 3,086 |
| Tardan (heap leach) | Tardan | 357 | 11,478 | - | |
| Solcocon | 116 | 3,729 | 238 | 7,652 | |
| 528 | 16,975 | 334 | 10,738 | ||
| Alluvial | |||||
| Borzya | 114 | 3,665 | 76 | 2,443 | |
| Total | 642 | 20,640 | 410 | 13,182 | |
Tardan
| 12m 2012 | 12m 2011 | ||
| Mining | |||
| Waste stripping | 000 m3 | 424 | 276.5 |
| Ore mined | 000 tonnes | 168.5 | 281.9 |
| Average grade | g/t | 2.0 | 2.4 |
| Gravitation | |||
| Throughput | 000 tonnes | 34.3 | 57.4 |
| Average grade | g/ton | 4.5 | 4.7 |
| Extraction | % | 35% | 36% |
| Gold produced | Kg | 55 | 96 |
| Heap leach | |||
| Crushing | |||
| Ore | 000 tonnes | 240.7 | 41.7 |
| Grade | g/t | 2.01 | 2.4 |
| Stacking | |||
| Ore | 000 tonnes | 234 | 24.2 |
| Grade | g/ton | 1.8 | 1.5 |
| Tailings | 000 tonnes | 54.4 | 4.7 |
| Grade | g/t | 3.6 | 3.5 |
| Gold produced | kg | 412 | - |
| Warehouse | |||
| Ore | 000 tonnes | 26.3 | 217.4 |
| Grade | g/t | 1.3 | 1.48 |
| Tailings | 000 tonnes | 213.6 | 238.4 |
| Grade | g/t | 2.9 | 3.2 |
Solcocon
| 12m 2012 | 12m 2011 | ||
| Mining | |||
| Waste stripping | 000 m3 | 581 | 562.4 |
| Ore mined | 000 tonnes | 123 | 142.4 |
| Average grade | g/t | 2.01 | 1.39 |
| Heap leach | |||
| Crushing / Stacking | |||
| Ore | 000 tonnes | 131 | 204 |
| Grade | g/t | 1.64 | 1.3 |
| Gold produced | kg | 108 | 238 |
| Warehouse | |||
| Ore | 000 tonnes | 4 | 12 |
| Grade | g/t | 1.2 | 1.66 |
| Alluvial | |||
| Waste stripping | 000 m3 | 1267.7 | 655.6 |
| Sand washed | tonnes | 118.9 | 126.5 |
| Gold produced | kg | 116 | 76 |
Uzhunzhul
Approximately 5,000 samples that were selected over the 2012 summer season were analysed to develop the 2013 exploration programme. Additionally tomography work was undertaken to map potential ore deposits for further exploratory drilling in 2013.
Kara-Beldyr
The Kara-Beldyr license area is being explored as a joint venture with Centerra Gold. Auriant holds 30% of the joint venture with Centerra Gold the operator. The current resource is 500,000 oz. according to NI 43-101. Drilling will be continued throughout 2013 to increase resources.
Preston Haskell, Chairman of the Board
tel: +46 768 905 549
e-mail: preston.haskell@auriant.com
Denis Alexandrov, Member of the Board and CEO
tel: + 7 985 222 66 74
e-mail: denis.alexandrov@auriant.com
