Auriant boosts net cash flow 315% on strong operational results in Russia
(Kitco News) - Swedish gold miner Auriant with assets in Russia today reported that its full-year 2020 consolidated revenue was MSEK 492.1 (US$ 53.4 mln), up 79% YoY (2019: MSEK 281.6 (US$ 29.8 mln)).
Auriant said it saw a strong increase in EBITDA that amounted to MSEK 283.0 (US$ 30.9 mln) in 2020 compared to MSEK 68.2 (US$ 7.2 mln) in the previous year. The company’s net cash flow generated from operating activities was MSEK 251.2 (US$ 27.5 mln), up 315% YoY (2019: MSEK 84.9 (US$ 8.9 mln)).
The company’s net profit after tax amounted to MSEK 96.5 (US$ 10.7 mln) compared to loss of MSEK -6.0 (US$ -1.2 mln) in 2019.
The company noted that its robust financial results were supported by strong operational performance: Auriant’s total gold production was 965 kg (31,014 oz), up 40% YoY (2019: 689 kg (22,137 oz)).
Auriant Mining 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.