Auriant Mining AB (publ.) publishes Q2 2020 Interim Report
Auriant Mining AB
5 min read
Highlights
• Gold production for H1 2020 was 521 kg (16,750 oz), an increase of 105% compared to 255 kg (8,189 oz) in H1 2019. Hard rock gold production at Tardan increased from 227 kg (7,308 oz) in H1 2019 to 521 kg (16,750 oz) in H1 2020, or by 129%.
• Volume of ore processed through the newly built CIL plant amounted to 196 thousand tonnes with an average grade of 2.87 g/t (total gold in processed ore – 561 kg). The CIL plant was operating at projected throughput per working hour (>50 t/hour) and higher recovery rate (92.9%).
• H1 2020 gold sales amounted to 537 kg (17,249 oz), compared to 255 kg (8,199 oz) in H1 2019, an increase of 282 kg (9,050 oz).
• Consolidated revenue was MSEK 275.1 (US$ 28.4 mln), up 164% YoY (H1 2019: MSEK 100.4 (US$ 10.8 mln).
• Net profit after tax amounted to MSEK 83.4 (US$ 8.6 mln) compared to loss of MSEK -11.8 (US$ -1.9 mln) in H1 2019.
• Strong increase in EBITDA: in H1 2020 EBITDA amounted to MSEK 162.4 (US$ 16.8 mln) compared to MSEK 11.8 (US$ 1.3 mln) in the previous year.
• Net cash flow from operating activities was MSEK 142.0 (US$ 14.7 mln), up 545% YoY (H1 2019: MSEK 21.4 (US$ 2.3 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 has 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.
This will be followed by an interactive webcast for analysts and investors with the CEO, Sergey Ustimenko who will be presenting Auriant Mining’s Q2 2020 results as well as hosting a Q&A session.
The event will begin at 13:00 CET (13:00 Stockholm, 14:00 Moscow, 12:00 London).
Those who wish to receive an email reminder an hour before the event can pre-register using the link or open the link directly to participate in Online Conference on Monday, August 31st:
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 CA@mangold.se 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 08.15 CET on August 31st, 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.
