Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Thursday 31 October, 2019

Auriant Mining AB

Auriant Mining AB (publ.) publishes 9m 2019 operational update

Auriant Mining AB (publ.) publishes 9m 2019 operational update

Tardan Production

Within 9m 2019 the Company was focused on stripping works in order to secure access to ore going forward. Volume of stripping works amounted to 776.3 thousand m3. Mining operations were carried out on Pravoberezhniy deposit which is going to be main source of ore in 2019.

Total 9m 2019 gold production was 429.6 kg (13,812 oz), an increase of 108% compared to 206.3 kg (6,632 oz) in 9m 2018. Ore mined amounted to 332.5 thousand tones with average grade 2.38 g/t. Heap leach ore stacking was 306.6 kt with average grade 2.11 g/t.

In 9m 2018 mining operations were carried out only from July, it had decided to halt mining operations at Tardan from January 2018 until the 2nd half of 2018, as this would maximize long term value for shareholders. As planned, the Company resumed mining operations at Tardan in July 2018.

Solcocon Production

In May 2019, alluvial production was resumed at Solcocon. This production is 100% outsourced. In 2018 the Company engaged 2 contractors working on 2 placers, and the same contractors continue to work in 2019.

During the reporting period, the Company produced 51.5 kg (1,655 oz) of alluvial gold compared to 62.7 kg (2,015 oz) produced in the previous period.

Tardan CIL Construction

Auriant Mining AB (publ.) has finished test work at the new CIL plant at Tardan and has begun loading tailings into the plant as the next step towards full production. This is required to ensure that the equipment processing ore slurry operates before high grade ore is introduced. This will continue for 2 weeks before commercial production commences in the middle of November.

Ore continues to be irrigated from the heap leach and production from this process, for the year, is forecast to be 550 kg.  As commercial production from the CIL plant has been delayed; the total 2019 production forecast from Tardan has been reduced from 940 kg to between 700 kg and 750 kg. The company will update investors again when it announces the Third Quarter Financial results on 29 November.

Tardan has a sufficient stock pile of high grade ore (5.2 g/t) to feed the CIL plant for 3 months from when full production commences.  Therefore, production in the initial months of 2020 is expected to be higher than previously envisaged. The production forecast for 2020 will be released in December.

Production

Production unit9m 20199m 2018Change
 kgozkgozkgoz%
Hard rock       
Tardan (heap leach)429.613,812206.36,6322237,180108%
Alluvial       
Solcocon51.51,65562.72,015(11)(360)-18%
Total gold produced481.115,467268.98,6462126,82079%

Tardan

 unit.9m 20199m 2018Change
Mining     
Waste stripping000 m3776.3166.9609365%
Ore mined000 tonnes332.565.1267411%
Average gradeg/t2.382.79(0.41)-15%
Heap leach     
Stacking     
Ore000 tonnes306.662.1244394%
Gradeg/t2.112.75(0.63)-23%
Gold in ore stackedkg648.0171477280%
Gold producedkg429.6206.3223108%
Warehouse on Seprember 30     
Ore000 tonnes28.60.0290%
Gradeg/t5.310.005.310%

For more information, please contact:

Sergey Ustimenko tel: +7 495 109 02 82
e-mail: [email protected]

Company name: Auriant Mining AB Short name: AUR
ISIN-code: SE0001337213

Website: www.auriant.com

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, e-mail [email protected] 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 14.00 CET on October 31, 2019.

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.

Attachment


a d v e r t i s e m e n t