Auriant Mining AB (publ.) publishes H1 2017 operational update


Highlights

 

  • Total gold production decreased by 20% to 310 kg (9,955 oz), compared to 385 kg (12,389 oz) in H1 2016.  On a Q by Q basis production decreased by 23% in Q1 and by 17% in Q2.  The decrease in the production is explained by lower production on the gravitational plant, which, in its turn resulted in lesser volumes of ore suitable for processing on the gravitational plant and lower grades in that ore. 
  • Alluvial production at Solcocon was recommenced with expected production of 61 kg (1,961 oz) of gold in 2017.
  • Gold grades in the ore mined at Tardan in H1 2017 were 2.93 g/t as compared to 4.42 g/t in H1 2016.  Grades decrease as expected according to the 2017 mineplan; this is explained by uneven distribution of high grade ore between upper and deeper horizons of ore bodies mined in 2016 and 2017, in particular Barsuchy.
  • In 2016 we were supplying ore to the gravitational plant from upper horizons of Barsuchy deposit. On deeper horizons we had lesser volumes of ore suitable for processing on the gravitational plant and lower grades in that ore. As expected, decrease in volumes and grades resulted in lower production on the gravitational plant compared to H1 2016.
  • Lesser volumes of gravitational gold production will be compensated by heap leach production during next months of high season production.
  • The total 2017 production forecast remains unchanged from the target given on 28th June - 0.9 tonnes from hard rock, plus 60 kilograms from alluvial.

Please, see the full report here http://www.auriant.com/eng/reports-and-releases/2017

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 July 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.


Attachments

Q2 operational_eng.pdf