Auriant Mining reduced loss by $0.7 mln in Q1
Auriant Mining (Sweden) develops a gold deposit in Russia. On the results of Q1 2016 it reduced its net loss to $1.6 mln from $2.3 mln in Q1 2015.
EBITDA in Q1 2016 grew by more than twice to $3 mln against $1.4 mln in Q1 2015.
The consolidated revenue from the main activity rose by 50% and made up $6.7 mln. Operational profit made up $1.4 mln against a negative result in Q1 2015 of $0.5 mln.
The basic and diluted profit per share is also negative - $0.09 against a negative result in Q1 2015 - $0.13.
In Q1 2016 Auriant Mining increased gold production by 77.7% against Q1 2015 to 143.2 kg (4.604 thousand ounces). Gold content in the ore of the Tardan deposit grew by 148% and made up 5.19 g/ton. In 2016 the company plans to produce about 1 ton of gold at its main deposit Tardan and plans to keep this level until 2019.
