Highlights:

  • There were no mining operations at Tardan during H1 2018, but they were recommenced in July. Gold production in H1 2018 at Tardan was on plan and was solely from ore stacked on the heap leach in 2017. During H1 2018, production was 110.3 kg (3,545 oz), compared to 270.5 kg (8,698 oz) in H1 2017, a 59% decrease (total gold production in H1 2017, both from the heap leach and from the gravitational plant, was 302.9 kg (9,741 oz)). As at the end of August, total 2018 production from ore stacked in 2017 is more than160 kg, which is 60 kg more than was initially expected. The Company is confident that the planned production at Tardan in 2018 of 360 kg will be met.
  • During H1 2018, the Company started preparatory works for the construction of the new CIL plant. The Company raised US$ 3.0 mln of lease finance with  the leasing company, LLC Delta of key equipment for the CIL plant. The CIL project is on time and within  budget.
  • In May 2018, alluvial production resumed at Solcocon. This production is 100% outsourced and generates a net margin of 29% of sales for the Company. Although one contractor was involved in 2017, Auriant has engaged 2 contractors this year working on 2 placer deposits. During the reporting period, the Company produced 16.1 kg (517 oz) of alluvial gold, compared to 6.7 kg (215 oz)  in the previous period.
  • The subscription period for the subscription of shares and warrants issued in connection with the rights issue in September 2017, ended on 30 March 2018. Additional capital of US$ 7.1 mln, was raised before transaction costs, of which, US$ 3.7 mln was subscribed through the set off of shareholder debt (US$ 3.4 mln was raised on a cash basis). The warrant subscription proceeds will contribute to the funding for the CIL Plant at Tardan and the study at Kara-Beldyr.
  • Consolidated revenue was MSEK 49.8 (US$ 5.9 mln) (H1 2017 – MSEK 111.3 (US$ 12.6 mln)).
  • EBITDA was: MSEK -20.8 (US$ -2.5 mln) compared to MSEK 22.2 (US$ 2.5 mln) in H1 2017.
  • Net loss after tax was MSEK -56.8 (US$ -6.7 mln) (H1 2017 – MSEK -24.1 (US$ -2.8 mln)).

Full report is available 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 H1 2018 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/...e2636ff76a

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 09:40 CET on August 28th  , 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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