Auriant Mining AB publishes H1 2014 operational update

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| Source: Auriant Mining AB
multilang-release

 

 

Auriant Mining AB (publ.) publishes

H1 2014 operational update

 

Highlights

 

  • Total H1 gold production of 372 kg increased by 49% compared to H1 2013
  • Tardan production increased by 34%; Solcocon hard rock by 176%; and alluvial by 61% compared to the same period in 2013
  • Greater Tardan increases reserves by adding 2,517 kg of gold at Barsuchiy (Greater Tardan)

 

Commenting on the results, Denis Alexandrov, CEO of Auriant Mining AB, said, “We are pleased with the progress at our mine sites. Despite the bulk of our production occurring in the second half of the year, we showed healthy gold production growth of 49% over the first 6 months, and overall we are making good progress to meeting our targets for the year. I am also pleased to report the approval by the state authorities of another 2.5 tonnes of reserves for Greater Tardan, that will serve to extend the mine life of Tardan by at least 2 years. At the same time we have several other prospective anomalies at Greater Tardan which we will continue to explore to add more reserves in the future, in particular the Pravoberezhny and Baysuit anomalies. Over the rest of the year we will focus exploration efforts on geophysical exploration to identify drilling targets for next year.”

You can access to full report 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: Tulegatan 2A, SE-113 58 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.