Auriant Mining

Array
(
    [date_] => 2020-06-05T11:11:10+00:00
    [date] => 2020-05-29T10:06:51+00:00
    [company] => Auriant Mining
    [type] => Update
    [headline] => Emerging into broad sunlit uplands
    [description] => Auriant’s Q120 financial results were reported within the context of known production of 278kg via the company’s operational update on 15 April. However, the results are also significant in that they reflect the first full quarter of operations for the company’s new carbon-in-leach plant at Tardan. In this respect, five features are important: the plant operated at, near or above its targeted throughput rate of 50tph for the entire quarter; it exceeded its metallurgical recovery target rate of 90% by 1.7pp; cash costs of US$476/oz (sold) were 47.4% below those of Q119 and 24.4% below our (prior) forecast for FY20 (NB only 7.6% below our prior forecast once working capital changes are taken into account); all of the above was achieved in the depths of the Russian winter; and the effect of COVID-19 on operations, to date, has been minimal. As a result, we have upgraded our forecasts for Auriant for the full year and our valuation of the company.
    [url] => https://www.edisoninvestmentresearch.com/research/report/auriant-mining405708/preview/1064/widget-xml
    [filename] => SE0001337213Auriant Mining290520update.pdf
    [isin] => SE0001337213
    [epic] => AUR
)

Array
(
    [date_] => 2020-06-05T11:11:10+00:00
    [date] => 2020-03-04T10:04:07+00:00
    [company] => Auriant Mining
    [type] => Update
    [headline] => Tardan CIL at capacity
    [description] => In general, shortfalls in production and sales resulted in Auriant reporting a modest loss of $0.6m in Q419, relative to our prior expectation of a modest profit. Of much more importance however is the first meaningful production from the newly commissioned Tardan carbon-in-leach (CIL) plant, which produced 95kg of gold in December and 115kg in January, both of which (pro rata) exceed our expectations of 953kg of production for FY20. As a result, we have left our forecasts for the CIL plant in FY20 and beyond unchanged, while our valuation of Auriant has risen with the appreciation in its share price and depreciation of the rouble.
    [url] => https://www.edisoninvestmentresearch.com/research/report/auriant-mining679525/preview/1064/widget-xml
    [filename] => SE0001337213Auriant Mining040320update.pdf
    [isin] => SE0001337213
    [epic] => AUR
)