Highlights:
· Consolidated revenue from gold and gold equivalents for H1 2013 increased by 123% to MSEK 69.4 (US$ 10.7 m) compared to H1 2012 in amount of MSEK 31.1 (US$ 4.5 m).
· Total production of gold for H1 2013 increased by 220% to 249.5 kg (8,022 oz) from 78 kg (2,508 oz) in H1 2012.
· EBITDA for the period was negative at MSEK -32.9 (US$ -5.1 m) compared to positive EBITDA for H1 2012 of MSEK 0.9 (US$ 0.1 m).
· The net result after tax for H1 2013 was MSEK -63.6 (US$ -9.8 m) compared to H1 2012 in amount of MSEK -26.5 (US$ -3.9 m). Earnings per share before and after dilution for H1 2013 were equal to SEK -3.57 (US$ -0.6) compared to H1 2012 – SEK -1.5 (US$ -0.2).
· All renovations to the Solcocon heaps, crushing complex and factory are complete. Commissioning and tune up of the upgraded equipment started in July.
· Seasonal production from the Gold Borzya alluvial operations has started ahead of schedule and is currently exceeding set targets.
Key events post period end:
· July gold production of 186 kg (5,980 oz).
· In August 2013 Sergey Kashuba stepped down from the Board of Auriant Mining AB to pursue other opportunities.
Full report is available here
This report will be followed by an interactive webcast for analysts and investors with the CEO, Denis Alexandrov, who will be presenting Auriant’s Q2 and H1 2013 results as well as hosting a Q&A session.
The event will begin at 15:00 CET (17:00 Moscow, 14:00 London).
Those wishing to participate will need to pre-register for this event by clicking here
For more information, please contact:
Max Yacoub, Chief Investment Officer, Auriant Mining AB,
Tel: +7 495 660 2220
E-mail: max.yacoub @auriant.com
Website: www.auriant.com
Twitter @auriantmining
Postal and visiting address: Tulegatan 2 A, 113 58 Stockholm, Sweden
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.
