Auriant Mining AB (publ) publishes Interim report for the period from January – June 2016


Highlights:

·         Gold production increased by 64% to 385.3 kg (12,389 oz), compared to 234.5 kg (7,539 oz) in H1 2015.

·         Gold grade in ore mined was 4.42 g/t, an 80% increase on prior period (2.46 g/t).

·         H1 2016 gold production is ahead of initial expectations. Based on these results and our expectations for production in the second half, we have adjusted Auriant’s production forecast for the year to 1.1 tonne, an increase of 10% on our previous estimate.

·         Revenue from gold sales increased by MSEK 51.3 (US$ 6.2 m), or 68%, compared to prior period, as a result of increase in sales volume by 68%, while the realized gold price unchanged.  Consolidated revenue increased by 52% to MSEK 130.3 (US$ 15.7 m) (H1 2015: MSEK 86.6 (US$ 10.3 m)), which is less than growth of gold sales and is explained by absence of management contract revenue in 2016.

·         EBITDA more than tripled to MSEK 59.2 (US$ 7.1 m) compared to MSEK 19.1 (US$ 2.3 m) in H1 2015.

·         Operating profit was MSEK 30.6 (US$ 3.7 m), compared to a loss of MSEK     -12.8 (US$ -1.6 m) in H1 2015.

·         The company broke even at the profit before taxation level in H1 2016. In prior period there was a loss of MSEK -41.4 (US$ -4.9 m).

·         Net cash flow from operating activities in H1 2016 was positive: MSEK 33.6 (US$ 3.9 m), while in H1 2015 there was an outflow of MSEK -14.9 (US$ -1.9 m).

Full report is available here

  

The report will be followed on Monday, August 29st by an interactive webcast for analysts and investors with the CEO, Sergey Ustimenko and CFO, Alexander Buchnev who will be presenting Auriant Mining’s H1 2016 results as well as hosting a Q&A session.

The event will begin at 11:00 CET (11:00 Stockholm, 12:00 Moscow, 10:00 London).

Those wishing to participate will need to pre-register for this event by clicking here or opening the following link
https://auriant.webex.com/auriant-en/onstage/g.php?MTID=e9e67c16e35b381fc43ff248b421e6f61

For more information, please contact:

 

Sergey Ustimenko, CEO

tel: +7 495 660 22 20

e-mail: sergey.ustimenko@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 one operating mine (Tardan), one early stage exploration asset and two development assets.

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. 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.

This information is information that Auriant Mining  AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 09:00 CET on August 29, 2016.

 

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.

 


Attachments

H1 Interim Report ENG.pdf