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2017-11-30 09:00:00

Auriant Mining AB (publ.) publishes Q3 2017 Interim Report

Auriant Mining AB
Interim information

Auriant Mining AB (publ.) publishes Q3 2017 Interim Report


· Auriant Mining successfully raised 178 MSEK in a Rights Issue in
September (the “Offering”). Subscriptions of shares with and without
subscription rights amounted to 142.4 MSEK, corresponding to 80 per cent of the

· In August 2017, the Company commenced the design of the CIL plant
at Tardan. On commissioning, the plant is expected to achieve recovery rates
of 90-92%. The Company plans to commission the CIL plant in January 2019, with
ore supplied by the Pravoberezhny deposit within greater Tardan.

· Auriant Mining has successfully refinanced its US$ 37.5 mln loans
with VTB. The Company’s previous loan provider, PSB, has been repaid in full.
The new loan is for 5 years with a reduced principal repayment schedule in the
first 2 years. The interest rate is 8.32% which is a reduction of 1.7 % ; this
will produce an annual saving of US$ 0.6 mln. VTB is the third largest bank in
the Russian Federation, operating nationwide in both retail and corporate

· In Q3 2017, mining operations were interrupted and volumes were
lower than envisaged. This was as a result of unseasonally high rainfall,
lower grade ore and reduced throughput of the gravitational plant as well as
problems with equipment. Total gold production for the 9 months therefore
decreased by 21% to 620.4 kg (19,948 oz), compared to 786.5 kg (25,285 oz) in

· Alluvial production at Solcocon was recommenced in 2017. Production
for the 9m has been 41.2 kg (1,324 oz) and the forecast for the year is 48 kg
(1,543 oz) of gold.

· Gold grade at Tardan in the 9m 2017 was 2.61 g/t, which is in line
with the previously forecasted gold grade in the 2017 mineplan (as compared to
4.17 g/t in 2016).

· In August 2017, exploration at Solcocon was recommenced, aiming to
increase hard rock gold resources suitable for CIL processing. Exploration will
cover 5,000 meters of core drilling and 64,000 cubic meters of trenches. The
Company expects to add up to 2 tonnes of gold to the Solcocon reserves as a
result of 2017 exploration efforts.

· Consolidated revenue was MSEK 223.3 (US$ 25.9 mln) in the 9 months
2017 (9 months 2016 – MSEK 284.9 (US$ 33.8 mln)).

· Operating profit was MSEK 10.6 (US$ 1.2 mln) in the 9 months 2017
compared to MSEK 106.9 (US$ 12.6 mln) in 9 months 2016.

· EBITDA was reduced to MSEK 49.8 (US$ 5.8 mln) compared to MSEK
147.3 (US$ 17.4 mln) in 9 months 2016.

· Net loss after tax in 9 months 2017 was MSEK -17.6 (US$ -2.0 mln)
compared to net income of MSEK 29.7 (US$ 3.5 mln) in 9 months 2016.

Full report is available here

The report will be followed by an interactive webcast for analysts and
investors with the CEO, Sergey Ustimenko and CFO, Alexander Buchnev who will be
presenting Auriant Mining’s Q3 2017 results as well as hosting a Q&A session.

The event will begin at 11:00 CET (11:00 Stockholm, 13:00 Moscow, 10:00 London).

Those wishing to participate will need to pre-register for this event by
clicking here or opening the following link

For more information, please contact:

Sergey Ustimenko

tel: +7 495 109 02 82


Company name: Auriant Mining AB

Short name: AUR

ISIN-code: SE0001337213

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 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 OMX Nordic Exchange under the short name AUR. For more
information please visit Mangold Fondkommission is Certified
Adviser to Auriant, for more information please call +46 8 503 015 50 or visit

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 09:00 CET on November 30th , 2017

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

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