Auriant Mining AB (publ.) (the “Company”) has on this date entered into an agreement with Golden Impala Limited (“GI”), a company related to the Board member Mr. Preston Haskell, who controls approximately 52% of the Company’s share capital via Bertil Holdings Ltd, to change the terms of the Company’s loan indebtedness under the bond held by GI. The key changes are as follows:
- no interest will accrue on the bond in the next 12 months (“grace period”);
- the currency of 50% of the total indebtedness is changed from USD to SEK, as further detailed below.
The Company has the right to convert the remaining 50% of the total indebtedness from USD into SEK at any time if Swedish Krona further depreciates against U.S. Dollar, subject to the terms of the agreement.
The above changes are effective from 1 December 2023. Prior to the changes becoming effective, the principal amount of the bond was equal to USD 35,954,797.10, and interest accrued as of 30 November 2023 was equal to USD 7,431,545.44. Upon the changes becoming effective, the new principal amount is comprised of SEK 237,364,511 and USD 14,261,625.83. The applicable interest rate before the start of the grace period was 3 Months U.S. Dollars LIBOR plus 6.44% per annum, and the same interest rate will apply to both USD and SEK tranches when the grace period ends. The currency of the interest accrued before the start of the grace period remains U.S. Dollars.
As a result, the Company would save approximately 5 MUSD in interest costs over the grace period (assuming the LIBOR rate remained the same).
For more information, please contact:
Danilo Lange, CEO
Tel: +7 495 109 02 82
E-mail: d.lange@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in the Republic of Tyva, Zabaikalye and the Republic of Khakassia. The company has currently four assets, including two operating mines (Tardan and Alluvial at Staroverinskaya), one early stage exploration asset and one development asset.
Since July 19, 2010, Auriant Mining´s shares are traded on Nasdaq First North Premier Growth Market under the short name AUR. For more information, please visit www.auriant.com. G&W Fondkommission is Certified Adviser to Auriant, for more information please visit www.gwkapital.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 14.30 CET on December 1st, 2023.
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.
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