Auriant Mining AB (publ.) 2013 operational update

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| Source: Auriant Mining AB
multilang-release

Highlights

  • Total 2013 gold production of 1,142 kg (36,716 oz) increased by 78% on the previous year, well within the target range of 1,000 – 1,200 kg.
  • Ramp up of production at Tardan is on target with production up by 60% to 658 kg (21,155 oz)
  • Overall Solcocon production up by 111% to 485 kg (15,593 oz). Growth was mostly driven by Borzya alluvial production increasing by 225% to 377 kg (12,121 oz).

Commenting on the results, Denis Alexandrov, CEO of Auriant Mining AB, said, “We are very pleased with the Company’s performance in 2013. We achieved all of our targets and almost doubled gold production over the year to 1.14 tonnes of gold. Operations at our flagship Tardan mine proceeded according to plan and we are well on our way to achieving our capacity of 1 – 1.2 tonnes by the end of 2015. Despite needing to increase stripping and pre-stripping Tardan gold production increased by 78%. The stripping is required to reach richer ore bodies, which we expect to mine in 2015.”

“Our Solcocon unit more than doubled production in 2013 compared to 2012. Hard rock mining grades at Solcocon disappointed in 2013, along with issues of old equipment breaking down. However, this was more than compensated for by alluvial production which more than tripled, allowing for our Solcocon operation to more than double gold production.”

Full report is available here

For more information, please contact:

 

Max Yacoub, CIO

тел: +7 495 660 22 20

e-mail: max.yacoub@auriant.com

 

Company name: Auriant Mining AB

Short name: AUR

ISIN-code: SE0001337213

 

Website: www.auriant.com
Twitter: @auriantmining

 

Postal and visiting address: Engelbrektsplan 2, 4tr

 SE-114 34 Stockholm

 

 

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) and two early stage exploration assets, one of which, Kara-Beldyr, is a joint venture with the major Canadian gold producer Centerra Gold. The group’s mineral licenses are estimated to contain almost 1,000,000 troy ounces of gold reserves according to the Russian standards (GKZ).

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 (before June 25, 2012 - under the short name CAG). 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 or visit www.mangold.se.

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.