During Q1 2018, no mining activities were carried out by the Company. Gold was produced in Q1 2018 out of ore stacked on the heap leach in 2017. Q1 2018 production was 70.6 kg (2,270 oz), compared to 95.2 kg (3,061 oz) produced on the heap leach in Q1 2017, a 26% decrease (total gold production in Q1 2017, both from heap leaching and from the gravitational plant, was 110.9 kg (3,565 oz)).
On 20th of October 2017, Auriant Mining announced plans to temporarily halt mining operations at Tardan in the first half of 2018. During Q1, the Company carried out preparatory work for the construction of the CIL plant. The Company also continued construction of the road to the Pravoberezhniy deposit (10 km), which is expected to be completed in Q2 2018. This will secure access to the deposit, so that mining operations can commence in Q3 2018. The Company is confident in achieving its production plans of 500 kg of gold in 2018.
For more information, please contact:
Sergey Ustimenko, CEO
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 one operating mine (Tardan), one early stage exploration asset and two development assets.
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. 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.
Attachment
- Q1 2018 operational REPORT ENG (https://prlibrary-eu.nasdaq.com/Resource/Download/f98dcf81-567c-4c86-849c-2344bf3bc279)
