As previously announced, there was no production at Tardan in the first half of 2018. In the same period last year, 1,455 thousand cubic metres of stripping took place and 165,000 tonnes of ore at a grade of 2.93 g/t was mined.
Although no mining took place, the company produced 110.3 kg (3,545 oz) of gold in the first half of 2018 from ore stacked in the heap leach in 2017. This compared to production from the heap leach in H1 2017 of 270.5 kg (8,698 oz. (-59%)). Production in H1 2017, from the heap leach and from the gravitational plant was 302.9 kg (9,741 oz.).
Total production in 2018 from ore stacked in 2017 is expected to be 150 kg, which is 50 kg more than initially expected.
During H1 2018, the Company executed preparatory works for the construction of the new CIL plant. The Company has recently completed construction of the road to the Pravoberezhniy deposit to secure access to it. As planned, the Company restarted its mining operations in July and expects first ore to come to the heap leach by the end of July. The Company is confident of achieving its production plan of 350 kg of gold at Tardan in 2018.
In May 2018, alluvial production was resumed at Solcocon. This production is 100% outsourced and generates net margin of 29% of sales for the Company. In the current period, the Company engaged 2 contractors working on 2 placers, while 1 contractor was involved in 2017. During the reporting period the Company produced 16.1 kg (517 oz) of alluvial gold compared to 6.7 kg (215 oz) produced in the previous period. Production at Solcocon in July has been interrupted by heavy rainfall, which has led to widespread flooding in the Zabaikalsky region. Production is expected to increase when the flooding subsides.
For more information, please contact:
Sergey Ustimenko
tel: +7 495 109 02 82
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 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 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 14:30 CET on July 24 , 2018
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.