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 [e-mail] 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: [phone]
E-mail: [e-mail]