Auriant Mining AB (publ) is pleased to announce that the Tardan CIL project design documentation is approved by the State Expertise institution of Russia (GlavGosExpertiza).
The expertise concluded that the project design documentation meets all applicable construction standards and regulations, including safety, strength and durability requirements. The expertise also concluded that the chosen design and construction solutions correspond to the results of engineering studies, which obtained the respective approval previously.
It is the final step in expert approval of the project, meaning that the design documentation for all parts of the project, namely the CIL main building, the supporting buildings (warehouses and the heating station), and the power supply (the high voltage line and the substation) has received its respective approvals from GlavGosExpertiza or non-state expert institutions.
In Q4 2017 the Company started the modernization project on its producing mine, Tardan, intended to increase recovery of gold from ore from approximately 60% to more than 90%, to increase the life of mine as a result of more efficient use of mineral resources, and to enhance long-term shareholders' return. The Company broke the ground on the construction site in Q2 2018.
To date the Company has achieved substantial progress in the CIL construction, in line with its plans:
- Concrete works are complete;
- Frame of the main building is complete, walls and roofs are 90% complete;
- High voltage line is complete;
- Construction of the supporting buildings (warehouses and the heating station) is finished and equipment is installed;
- Mills, leach tanks and a thickener are installed; cranes are installed and running.
The construction approaches interior works; installation of capacitive equipment, pumps, bunkers, and conveyors; pipe interconnection of the installed equipment and pipe connection to the existing hydro-metallurgy workshop; connection of equipment to power lines.
The Company confirms its plans to finish construction and to put the new CIL plant into operation in July 2019.
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 two operating mines (Tardan and Solococon), 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 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.
Cautionary Statement: Statements and assumptions made in this press release 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 does not constitute an offer to subscribe for shares in AUR, and 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
- Press-release 2019-04-23_eng (https://ml-eu.globenewswire.com/Resource/Download/12129d0a-78fd-4955-8c60-7f3cfa7a413a)
