Stockholm, 2012-11-28 15:04 CET (GLOBE NEWSWIRE) --
Key strategic and organizational developments post period end:
• AUR has fulfilled its condition precedent to free MSEK 17.5 (MUSD 2.6) of the Svyazbank loan.
• As of 20 November, total bank loan decreased to MSEK 57.1 (MUSD 8.5).
• In November 2012 Auriant Mining signed a MSEK 108.2 (MUSD 16.2) 12 month additional credit facility with PromSvyazBank.
• Principal agreement has been reached with the majority shareholder on restructuring the existing shareholder loan leading to a significant decrease of the interest rate and regular repayment of the interest.
• Management team further strengthened with the appointment of Vladimir Churin as head geologist of the Group, Sergey Shumilov as a new head of HR and Max Yacoub as Chief Investment Officer.
During the period:
• Consolidated total income from gold sales for the reporting period increased by 24% to MSEK 118 (9 months 2011:MSEK 95.2).
• Total production of gold for the 9 months increased by 7% to 337 kg (315 kg).
• EBITDA for the period was positive at MSEK 4.6 (MSEK -17.4).
• The net result, after tax and non-controlling interest for the reporting period, was MSEK -33 (MSEK -57.7) corresponding to earnings per share of SEK -1.88 (SEK -3.34)
• The heap leaching factory at Tardan was successfully commissioned on August 24 and all necessary permits received.
Max Yacoub, Chief Investment Officer, Auriant Mining AB, tel: +7 495 660 2220
E-mail: max.yacoub@auriant.com
