Highlights:
· Total gold production increased by 31% to 1,078 kg (34,669 oz), compared to 823 kg (26,468 oz) in 2015.
· Gold grade in 2016 was 4.04 g/t, a 33% increase on that achieved in prior period (3.03 g/t).
· Tardan gravitational plant produced 145 kg (4,657 oz) of gold, an increase of 60% compared to 2015 – 90 kg (2,904 oz). Heap leach production at Tardan increased by 28% to 933 kg (30,011 oz), compared to 727 kg (23,372 oz) in 2015.
· Cash costs in 2016 were US$ 577/oz, a reduction of 28% (US$ 798/oz in 2015).
· EBITDA more than doubled to MSEK 188.5 (US$ 22.0 m) compared to 2015 of MSEK 86.9 (US$ 10.3 m).
· Consolidated net income in 2016 was MSEK 25.5 (US$ 3.0 m) compared to a net loss in 2015 of MSEK -178.6 (US$ -21.5 m).
· Net cash flow from operating activities more than trebled: in 2016 it was MSEK 149.6 (US$ 17.4 m), compared to MSEK 44.3 (US$ 5.1 m) in 2015. The free cash flow after operating and investing activities in the reporting period was MSEK 129.3 (US$ 15.0 m) (2015: MSEK 43.3 (US$ 5.0 m)).
· Drilling programme was completed at the Pravoberezhny deposit at Tardan. Resources of 4.2 tonnes of gold with an average grade of 3.31 g/t will be submitted to GKZ for approval.
· Resource estimate of the Kara-Beldyr deposit in accordance with JORC has now been completed. Total gold resources (both indicated and inferred) amount to 25.6 tonnes of gold.
· Expected gold production in 2017 is 1 ton.
Full report is available 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 12 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=e8fff8e8366c0e4182135fedeed57f3a1
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 February 28th , 2017.
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.
