Auriant Mining AB (publ.) publishes an update on subsoil use licenses of LLC «Tardan Gold» following inspection by Rosprirodnadzor
On 20 August 2019, Auriant announced the results of an inspection carried out by the Russian State Service for Supervision of Natural Resource Usage (Rosprirodnadzor) between 17 July and 13 August 2019 at the Company’s subsidiary LLC «Tardan Gold» (the “subsidiary” or “Tardan Gold”). The Company is now able to provide shareholders with an update:
- The Company presented its objections to some of the findings that Rosprirodnadzor had raised, and Tardan Gold is now challenging those findings in court.
- In addition, Tardan Gold has already rectified a number of violations that were highlighted, and is working on the remaining ones.
- Rosnedra (the Russian State Agency for Subsoil Use) has now considered the documents provided by Rosprirodnadzor and by Tardan Gold and has made the following decisions:
- Rosnedra has noted the findings in relation to the subsoil use license number KZL 00367 BR and has decided not to take any further steps in relation to them. This confirms the Company’s initial assessment that the subsidiary did not commit any serious violations. This license covers the Greater Tardan area, including the Pravoberezhny deposit where mining operations are now carried out and which will supply ore for the new CIL plant. The Company is satisfied with this outcome.
- Rosnedra has given Tardan Gold 12 months to rectify violations revealed by Rosprirodnadzor in relation to the other subsoil use license KZL 00322 BR, which relates to the Tardan deposit. If the subsidiary fails to do so, Rosnedra will consider the matter further and may terminate the license. The Company remains confident that either Tardan Gold will be able to prove the absence of violations, or the issues will be rectified well in advance of the specified deadline. At present there are no restrictions on any operations under the license.
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 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 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.
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 12.10 CET on November 8th, 2019.
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
- Press-release_Update on Tardan subsoil use licenses_November 2019_ENG