Highlights:
- Total production of gold for the reporting period increased by 49% to 372.3 kg (11,969 oz) from 249.5 kg (8,020 oz) in H1 2013.
- Consolidated revenue from gold and gold equivalents for H1 2014 increased by 28% to MSEK 88.8 (US$ 13.5 m) compared to the H1 2013 amount of MSEK 69.4 (US$ 10.7 m). EBITDA for the period was negative at MSEK -43.9 (US$ -6.6 m) compared to H1 2013 of MSEK -22.8 (US$ -3.5 m).
- The net result after tax for the period was MSEK -80.0 (US$ -12.1 m) compared to H1 2013 in amount of MSEK -51.5 (US$ -7.9 m). Earnings per share before and after dilution for H1 2014 were equal to SEK -4.49 (US$ -0.68) compared to H1 2013 – SEK -2.89 (US$ -0.44).
- Debt to main shareholder restructured in May 2014: Repayment in 2018, and with lower interest rate of 10%.
- Tardan production increased by 34%; Solcocon hard rock by 176%; and alluvial by 61% compared to the same period in 2013.
- Greater Tardan increased reserves by adding 2,517 kg of high grade gold (average of 5.4 g/t) at Barsuchiy.
Full report is available here
The report will be followed on the same day by an interactive webcast for analysts and investors with the CEO, Denis Alexandrov and CFO, Sergey Ustimenko who will be presenting Auriant Mining’s Q2 2014 results as well as hosting a Q&A session.
The event will begin at 10:00 CET (10:00 Stockholm, 12:00 Moscow, 9:00 London).
Those wishing to participate will need to pre-register for this event by clicking 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
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.
