Highlights:
• Total gold production decreased by 20% to 310 kg (9,955 oz), compared to 385 kg (12,389 oz) in H1 2016. On a Q by Q basis, production decreased by 23% in Q1 and by 17% in Q2. The decrease in the production is mainly explained by lower production on the gravitational plant. Lesser volumes of ore suitable for processing on the gravitational plant and lower grades in that ore resulted in decreased production on the gravitational plant. Heap leach will compensate gravitational plant during next months of high season production.
• Alluvial production at Solcocon was recommenced with expected production of 61 kg (1,961 oz) of gold in 2017.
• Gold grades in the ore mined at Tardan in H1 2017 were 2.93 g/t as compared to 4.42 g/t in H1 2016. Grades decrease as expected, according to the 2017 mineplan.
• Consolidated revenue was MSEK 111.3 (US$ 12.6 mln) (H1 2016 – MSEK 130.3 (US$ 15.7 mln)).
• Operating result was slightly below breakeven: there was an operating loss of MSEK -3.4 (US$ -0.4 mln) in H1 2017 compared to operating profit of MSEK 30.6 (US$ 3.7 mln) in H1 2016.
• EBITDA was positive, however, reduced to MSEK 22.2 (US$ 2.5 mln) compared to MSEK 59.2 (US$ 7.1 mln) in H1 2016.
• Net loss after tax increased by 28% from MSEK -17.9 (US$ -2.150 mln) in H1 2016 to MSEK -24.1 (US$ -2.761 mln) in H1 2017.
Key subsequent events:
• On August 2, 2017 it was announced that the Company had successfully refinanced its loans with VTB. The Company’s previous loan provider, PSB, has been repaid in full. The new loan is for 5 years with a reduced principal repayment schedule in the first 2 years. Also the interest rate is 1.7 % lower which will produce an annual saving of US$ 0.6 mln.
Full report is available here: http://www.auriant.com/eng/reports-and-releases/2017
The report 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 H1 2017 results as well as hosting a Q&A session.
The event will begin at 11:00 CET (11:00 Stockholm, 12:00 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=ea83b37053260feaa4de25fe475e87e0b
For more information, please contact:
Segrey Ustimenko, CEO
tel: +7 495 660 22 20
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 10:00 CET on August 14th, 2017.
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.
