Highlights:
- Gold production increased by 42% to 786.5 kg (25,285 oz), compared to 555.6 kg (17,864 oz) in 9 months 2015.
- Gold grade in the period was 4.17 g/t, a 67% increase on 9m of last year (2.50 g/t).
- Cash costs decreased by 31% down to US$ 594/oz in 9 months 2016 (US$ 855/oz in 9 months 2015).
- EBITDA almost trebled to MSEK 147.3 (US$ 17.4 m) compared to 9 months 2015 of MSEK 57.3 (US$ 6.8 m).
- Consolidated net income in 9 months 2016 was MSEK 29.7 (US$ 3.5 m) compared to net loss in 9 months 2015 of MSEK -41.2 (US$ -4.9 m).
- Net cash flow from operating activities in 9 months 2016 was MSEK 122.7 (US$ 14.5 m), while in prior period there was MSEK 9.7 (US$ 1.0 m). The free cash flow after operating and investing activities in the reporting period was MSEK 105.8 (US$ 12.4 m) (9m 2015: MSEK 8.7 (US$ 0.9 m)).
Key subsequent events:
- The drilling programme at Pravoberezhny within Greater Tardan has now been completed. Resources of 4.2 tonnes of gold with an average grade of 3.31 g/twill be submitted to GKZ for approval.
- The resource estimate for Kara-Beldyr in accordance with JORC has been completed. Total gold resources (both indicated and inferred) are 25.6 tonnes.
Please, see the full report here:
http://www.auriant.com/eng/reports-and-releases/2016
The report will be followed by an interactive webcast for analysts and investors with the CEO, Sergey Ustimenko and CFO, Alexander Buchnev who will be presenting Auriant Mining’s 9 months 2016 results as well as hosting a Q&A session.
The event will begin at 11:00 CET (11:00 Stockholm, 13:00 Moscow, 10:00 London).
Those wishing to participate will need to pre-register for this event by clicking here:
https://auriant.webex.com/auriant-en/onstage/g.php?MTID=e772e88358d58636227173e0597905f74
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 10:00 CET on November 28, 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.
