Highlights
- 9m 2013 production for the Group increased by 150% and amounted to 844 kg (27,125 oz.) compared to 337 kg (10,834 oz) for the same period in 2012
- Group Q3 production was 594 kg (19,104 oz) in line with forecasts
- Drilling programme at Tardan completed and preparation of an updated reserve estimate underway
- Company reiterates its forecast for overall 2013 gold production of 1,000 -1,200 kg (32,150 – 38,580 oz)
Commenting on the results, Denis Alexandrov, CEO of Auriant Mining AB said, “ We are pleased with our 9 month production results which showed an increase of 150% compared with the 9 month 2012 results. Our overall performance is in line with forecasts and we are confident of achieving our target of 1,000 to 1,200 kg of gold production in 2013.
Overall Q3 production was 588 kg of gold, or more than twice as much as our entire H1 result, reflecting the strong seasonality factor in our operations, which sees the bulk of our production occurring in the second half of the year.
Most of our capex is behind us and we are now focusing on cost efficiencies to achieve profitable production in 2014. We will also continue our exploration programme at our current deposits in order to increase reserves and mine lives. ”
Production
| Production unit | License area | 9m 2013 | 9m 2012 | ||
| kg | oz | kg | oz | ||
| Hard rock | |||||
| Tardan (gravitational) | Tardan | - | - | 44 | 1 , 41 5 |
| Tardan (heap leach) | Tardan | 4 6 6 | 1 4 ,982 | 156 | 5 , 015 |
| Solcocon | 72 | 2,315 | 81 | 2 , 604 | |
| 538 | 17,297 | 281 | 9 , 034 | ||
| Alluvial | |||||
| Borzya | 305.7 | 9,828 | 56 | 1 , 800 | |
| Total | 843.7 | 27,125 | 337 | 10 , 834 | |
Tardan
| 9m 2013 | 9m 2012 | ||||
| Mining | |||||
| Waste stripping | 000 m 3 | 1418 | 256.6 | ||
| Ore mined | 000 tonnes | 183.4 | 5 6.2 | ||
| Average grade | g/t | 1.32 | 2.3 | ||
| Gravitation | |||||
| Throughput | 000 tonnes | - | 28.8 | ||
| Average grade | g/ton | - | 4.1 | ||
| Extraction | % | - | 33% | ||
| Gold produced | Kg | - | 44 | ||
| Heap leach | |||||
| Crushing | |||||
| Ore | 000 tonnes | 204.4 | 204.2 | ||
| Grade | g/t | 1.6 | 2.0 | ||
| Stacking | |||||
| Ore | 000 tonnes | 204.4 | 197.5 | ||
| Grade | g/ton | 1.6 | 1.8 | ||
| Tailings | 000 tonnes | 126.5 | 44.4 | ||
| Grade | g/t | 3.12 | 3.6 | ||
| Gold produced | kg | 4 66 | 156 | ||
| Warehouse | |||||
| Ore | 000 tonnes | 0.1 | 39.2 | ||
| Grade | g/t | 1.15 | 1.6 | ||
| Tailings | 000 tonnes | 68.0 | 218.1 | ||
| Grade | g/t | 2.87 | 3.0 | ||
Solcocon
| 9m 2013 | 9m 2012 | ||
| Mining | |||
| Waste stripping | 000 m 3 | 327.6 | 457.6 |
| Ore mined | 000 tonnes | 184.7 | 89.8 |
| Average grade | g/t | 1.52 | 1.9 |
| Heap leach | |||
| Crushing / Stacking | |||
| Ore | 000 tonnes | 128.2 | 106.5 |
| Grade | g/t | 1.49 | 1.7 |
| Gold produced | kg | 72 | 81.4 |
| Warehouse | |||
| Ore | 000 tonnes | 50 | 10.4 |
| Grade | g/t | 1.15 | 2.5 |
| Alluvial | |||
| Waste stripping | 000 m 3 | 2361 | 828.5 |
| Sand washed | 000 m 3 | 280 | 61.7 |
| Gold produced | kg | 305.7 | 79.7 |
For more information, please contact:
Max Yacoub, CIO
??? : +7 495 660 22 20
e-mail: max.yacoub@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com Twitter: @auriantmining
Postal and visiting address: Engelbrektsplan 2, 4tr
SE-114 34 Stockholm
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) and two early stage exploration assets, one of which, Kara-Beldyr, is a joint venture with the major Canadian gold producer Centerra Gold. The group’s mineral licenses are estimated to contain almost 1,000,000 troy ounces of gold reserves according to the Russian standards (GKZ).
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 (before June 25, 2012 - under the short name CAG). 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.
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.
