Auriant Mining AB (publ.) Update on Inspection of LLC «Tardan Gold» by Rosprirodnadzor
The Company's subsidiary LLC «Tardan Gold» has received a report setting out the findings of the inspection carried out by the Russian State Service for Supervision of Natural Resource Usage (Rosprirodnadzor) during the period from 17 July until 13 August 2019. Rosprirodnadzor has concluded that LLC «Tardan Gold» (the «company») has breached several terms of its subsoil use licenses and has given the company until 13 February 2020 to rectify the breaches.
Before providing the company with the official report, Rosprirodnadzor published an announcement on its web-site. The announcement contains some factual errors, for example, that the inspection revealed the company's failure to comply with its social obligations. In fact the inspection did not concern the company's compliance with its social obligations, and the official report received by the company contains no findings in this regard. The Rosprirodnadzor's announcement also incorrectly states that the company's project is included in the register of regional investment projects.
The company does not agree with Rosprirodnadzor's conclusion that it does not have proper project documentation for mining gold at Tardan deposit and for water usage. The company has in place the proper project documentation and all required permits and will provide its comments to Rosprirodnadzor so as to clarify the situation. The company will further review the report and decide on the actions that need to be taken in relation to each of its findings.
The announcement published by Rosprirodnadzor also states that the inspection file has been sent to Rosnedra (the Russian State Agency for Subsoil Use) with the recommendation to consider early termination of the subsoil use rights of LLC “Tardan Gold”. The company has not received any official documents regarding this. In any event, the company is confident that it has not committed any serious violations that could entail early termination of its subsoil use rights, and there are no legal grounds for such measure.
The inspection did not relate to the ongoing construction of the CIL plant and has not made any findings in relation to this.
For more information, please contact:
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 11:30 CET on August 20th, 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.
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