Auriant Mining AB (publ.) publishes January-December 2020 Interim Report

Financial Highlights

•   Consolidated revenue was MSEK 492.1 (US$ 53.4 mln), up 79% YoY (2019: MSEK 281.6 (US$ 29.8 mln)).

•   Net profit after tax amounted to MSEK 96.5 (US$ 10.7 mln) compared to loss of MSEK -6.0 (US$ -1.2 mln) in 2019.

•   Strong increase in EBITDA: in 2020 EBITDA amounted to MSEK 283.0 (US$ 30.9 mln) compared to MSEK 68.2 (US$ 7.2 mln) in the previous year.

•   Net cash flow generated from operating activities was MSEK 251.2 (US$ 27.5 mln), up 315% YoY (2019: MSEK 84.9 (US$ 8.9 mln)).

Operational Highlights

•   Volume of ore processed through the CIL plant amounted to 394 thousand tonnes with an average grade of 2.66 g/t (total gold in processed ore – 1,045 kg). The CIL plant was operating at projected throughput per working hour (>50 t/hour) and higher recovery rate (91%).

•   Hard rock gold production at Tardan increased by 50%, from 635 kg (20,407 oz) in 2019 on the heap leach and CIL to 953 kg (30,629 oz) in 2020 on CIL. 

•   Alluvial gold production decreased by 78% to 12 kg (386 oz) compared to 54 kg (1,730 oz) in 2019.

•   Total gold production was 965 kg (31,014 oz), up 40% YoY (2019: 689 kg (22,137 oz)).

•   Average selling price for gold increased by 24% to US$ 1,755 per oz (2019: US$ 1,416 per oz).

•   Total Cash cost reduced by 24% to US$ 676 per oz (2019: US$ 884 per oz).

•   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%).

•   2021 annual total gold production forecast is 900 - 930 kg (28,936 – 29,900 oz). Annual throughput of the CIL plant will amount to 350 - 380 thousand tonnes.

Full report is available here

This will be followed by a ZOOM Conference for analysts and investors with Danilo Lange (CEO), Vladimir Vorushkin (CFO) and Petr Kustikov (COO), who will be presenting Auriant Mining’s Q4 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 a ZOOM Conference on Friday, February 26^th, please send to our email [e-mail] the following information: email, name, Company name. We will send the conference ID and passcode by email.