Auriant Mining AB (publ.) further comments on the status of subsoil use licenses of LLC “Tardan Gold” following a new announcement by Rosprirodnadzor
The Company has learned that the Russian State Service for Supervision of Natural Resource Usage (Rosprirodnadzor) has published an announcement on its website under the heading “The use of subsoil resources by LLC “Tardan Gold” is suspended.” The announcement then states that the subsoil use rights of LLC “Tardan Gold” are restricted by the order of Rosnedra (the Russian State Agency for Subsoil Use). The Company considers it necessary to clarify the situation as follows:
- The use of subsoil resources by LLC “Tardan Gold” is not suspended. The heading of Rosprirodnadzor’s announcement is incorrect.
- LLC “Tardan Gold” currently has 2 subsoil use licenses for mining of gold:
- The license number KZL 00322 BR. This license relates to the Tardan deposit, where no mining operations are currently carried out. The order of Rosnedra (N 503 of 27.11.2019) provides that LLC “Tardan Gold” (the “Subsidiary”) shall not carry out mining activities at the Tardan deposit until the Subsidiary receives an approval of Rosnedra for the technical project documentation for the Tardan deposit and all other required approvals and permits. It is only in this respect that the subsoil use rights of LLC “Tardan Gold” are restricted by the order. The license is not suspended and the order does not impose any other restrictions on the subsoil use rights under the license. LLC “Tardan Gold” has already applied to Rosnedra for approval of the extension of its technical project documentation until 2025. The Company is confident that the approval of Rosnedra as well as all other required approvals and permits will be received in a short period of time, and anyway not later than by the end of H1 2020, that is before the deadline set by Rosnedra, which the Company announced in its press-release on 8 November 2019, and before the planned start of mining works at the Tardan deposit.
- The license number KZL 00367 BR. This license covers the Greater Tardan area, including the Pravoberezhny deposit where mining operations are now carried out and which supplies ore for the new CIL plant. There are no restrictions of any subsoil use rights under this license. The Company previously reported this in its press-release on 8 November 2019 and confirms that the situation remains the same. The mining operations are continuing as planned.
For more information, please contact:
Sergey Ustimenko, CEO
tel: +7 495 109 02 82
Company name: Auriant Mining AB
Short name: AUR
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 8.10 CET on December 4th , 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.
- Press release_comments on Tardan Gold subsoil use rights_ENG