Highlights:
· Total gold production for the year amounted to 1,079 kg (34,689 oz), a decrease of 5.5% compared to 2013 production of 1,142 kg (36,716 oz).
· Group revenue from gold and gold equivalents for 2014 decreased by 16% to MSEK 297.5 (US$ 42.6 m) compared to the 2013 amount of MSEK 328.9 (US$ 50.5 m).
· EBITDA increased by 24% compared to 2013, however still negative at MSEK -25.0 (US$ -4.1 m) compared to 2013 negative amount of MSEK -35.1 (US$ -5.4 m).
· The net loss after tax for the period was MSEK -128.7 (US$ -16.6 m) compared to 2013 in amount of MSEK -128.9 (US$ -19.8 m). Earnings per share before and after dilution for 2014 were equal to SEK -7.23 (US$ -0.93) compared to 2013 – SEK -7.24 (US$ -1.11).
Key developments post-period end:
· Auriant Mining AB received from Aristus Holdings Ltd. an option to purchase a 50% interest in five gold properties located in Russia’s Chukotka region, including Valunisty - a producing gold mine with overall C1 + C2 reserves of around 20 tonnes of gold equivalent. As part of the deal the Company entered into a legally binding agreement with Aristus Holdings Ltd. to manage and develop these assets over the next 3 years. The Company will receive a fixed management fee of US$ 1.2 m p. a. and up to US$ 2.4 m annual bonus linked to the fulfilment of certain production and financial targets.
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 Q4 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.
Registration for the webcast will close at 9:30 CET on February 27th.
For more information, please contact:
Denis Alexandrov, CEO
tel: +7 495 660 22 20
e-mail: IR@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. The group’s mineral licenses are estimated to contain almost 1,300,000 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
