Highlights:
- Auriant recommenced mining operations at Tardan in July. In 2018, the Company mined 219,000 tonnes of ore with an average grade of 2.58 g/t and this ore was stacked on the heap leach. Total gold production from the heap leach for 2018 was 350.4 kg (11,267 oz), compared to 761.7 kg (24,487 oz) in the same period in the previous year (-54%), which exactly matched the 2018 initial production target announced in October 2017.
- In 2018, the Company produced 72.9 kg (2,344 oz) of alluvial gold compared to 47.8 kg (1,537 oz) produced in 2017. Production at Solcocon in July was interrupted by heavy rainfall, which led to widespread flooding in the Zabaikalsky region. Due to these conditions, Solcocon wasn’t able to extend its alluvial operations on the 3rd placer (as announced in October 2017) and meet an initial 2018 production forecast of 150 kg of gold.
- The CIL project is going according to plan and has passed the State Ecological Expertise, which means that the plant complies with environmental protection standards. Construction of the plant has continued through the winter and we expect CIL production to commence in July 2019. The heap leach will continue to be in operation until the CIL plant starts.
- In December 2018, the Company repaid US$ 2.0 mln to VTB in line with a repayment schedule.
- In 2018, the Company made an agreement with Golden Impala Limited on a new unsecured revolving bridging loan facility of US$ 3 mln in order to provide short-term working capital during the low production season and to secure continuous funding of the CIL project. In the beginning of December, 2018 the Company drew down US$ 2 mln from the facility which has a maturity date of December 31, 2019.
- At the end of December, 2018 the Company executed a loan agreement with VTB providing US$ 4.4 mln (RUB 300 mln) for the CIL construction with a maturity date at December 31, 2021. In December 2018, the Company drew down US$ 2.2 mln out of the facility.
Full report is available here:
This will be followed by an interactive webcast for analysts and investors with the CEO, Sergey Ustimenko who will be presenting Auriant Mining’s Q4 2018 results as well as hosting a Q&A session.
The event will begin at 14:00 CET (14:00 Stockholm, 16:00 Moscow, 13:00 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=e216f4869082cd5c5a7dcd25f0c9430f3
For more information, please contact:
Sergey Ustimenko, VD
Tel: +7 495 109 02 82
e-post: 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 two operating mines (Tardan and Solcocon), one early stage exploration asset and one development asset.
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, e-mail CA@mangold.se 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, 2019
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.
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