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Monday 30 November, 2020

Auriant Mining AB

Auriant Mining AB (publ.) publishes Q3 2020 Interim Report

Auriant Mining AB (publ.) publishes Q3 2020 Interim Report

Highlights

•   Gold production for 9m 2020 was 755 kg (24,285 oz), an increase of 57% compared to 481 kg (15,467 oz) in 9m 2019. Hard rock gold production at Tardan increased from 430 kg (13,812 oz) in 9m 2019 to 750 kg (24,112 oz) in 9m 2020, or by 75%.

•   Volume of ore processed through the newly built CIL plant amounted to 291 thousand tonnes with an average grade of 2.77 g/t (total gold in processed ore – 806 kg). The CIL plant was operating at projected throughput per working hour (>50 t/hour) and higher recovery rate (92.9%).

•   9m 2020 gold sales amounted to 761 kg (24,442 oz), compared to 465 kg (14,962 oz) in 9m 2019, an increase of 296 kg (9,480 oz), or 64%.

•   Consolidated revenue was MSEK 397.6 (US$ 42.3 mln), up 103% YoY (9m 2019: MSEK 195.4 (US$ 20.8 mln)).

•   Net profit after tax amounted to MSEK 109.1 (US$ 11.5 mln) compared to loss of MSEK -0.4 (US$ -0.6 mln) in 9m 2019.

•   Strong increase in EBITDA: in 9m 2020 EBITDA amounted to MSEK 234.0 (US$ 24.9 mln) compared to MSEK 40.4 (US$ 4.3 mln) in the previous year.

•   Net cash flow from operating activities was MSEK 215.4 (US$ 23.0 mln), up 283% YoY (9m 2019: MSEK 56.2 (US$ 5.9 mln)).

•   In April 2020, the Group restructured repayment terms of existing loans provided by VTB rolling them over until end of 2023. In July 2020, the Group extinguished its loans in the amount of MSEK 23.2 (US$ 2.6 mln), which were raised in connection with the CIL plant financing in 2018-2019. In October 2020, the Group negotiated with VTB a reduction in interest rate applying to outstanding balance. As from 21 October 2020, the new interest rate is 3 months LIBOR plus 4.7% (currently equivalent to an annual interest rate of 4.9%).

Full report is available here

This will be followed by a live ZOOM Video Conference for analysts and investors with Danilo Lange (CEO), Vladimir Vorushkin (CFO) and Petr Kustikov (COO from December 1st 2020), who will be presenting Auriant Mining’s Q3 2020 results as well as hosting a Q&A session.

The event will begin at 12:00 CET (12:00 Stockholm, 14:00 Moscow, 11:00 London).

To participate in the ZOOM Video Conference on Monday, November 30th, please send to our email [email protected] the following information: email, name, Company name. We will send the conference ID and passcode by email.

For more information please contact:

Danilo Lange, CEO
Tel: +7 495 109 02 82
E-mail: d.lange[email protected]

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

Website: www.auriant.com
www.facebook.com/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 Nasdaq First North Premier Growth Market 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 07.15 CET on November 30th, 2020.

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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