Highlights:

  • Auriant recommenced mining operations at Tardan in July. In Q3 2018, the Company mined 65,000 tonnes of ore with an average grade of 2.79 g/t and this ore was stacked on the heap leach. Total gold production from the heap leach for 9 months, 2018 was 206.3 kg (6,632 oz), compared to 538.9 kg (17,326 oz) in the same period in the previous year (-61%). The Company expects that Tardan production for the whole of 2018 will be 380 kg (12,217 oz), which is slightly above the previously announced forecast of 350 kg (11,252 oz).
  • 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. As of today, the project is approximately 60% complete and we will continue building through the winter.  We expect that production will commence at the CIL plant in July 2019, with a production target of 1 tonne of gold in 2019.  The heap leach will continue to be in operation until the CIL plant starts.
  • In May 2018, alluvial production resumed at Solcocon. This production is 100% outsourced and generates a net margin of approximately 29% of sales. 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 62.7 kg (2,015 oz) of alluvial gold compared to 41.2 kg (1,324 oz) in the previous period. Expected production of alluvial gold in 2019 is 90 kg.
  • Consolidated revenue in 9 months 2018 was MSEK 94.7 (US$ 11.0 mln) (9 months 2017 – MSEK 223.3 (US$ 25.9 mln)).
  • EBITDA in 9 months 2018 was: MSEK -24.4 (US$ -2.9 mln) compared to MSEK 49.8 (US$ 5.8 mln) in 9 months 2017.
  • Net loss after tax was MSEK -72.9 (US$ -8.5 mln) (9 months 2017 – MSEK -17.6 (US$ -2.0 mln)).
  • In November 2018, the Company has reached an agreement with Golden Impala Limited on a new 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.

Full report is available attached and here

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 9 months 2018 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 or opening the following link: 
https://auriant.webex.com/auriant-en/onstage/g.php?MTID=e848ca91384b036b8a6957e3b4d0d3a99

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 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 November 30th, 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.

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