MINEX 9 October 2014 Disclaimer Statements and assumptions made in - - PowerPoint PPT Presentation

MINEX

9 October 2014

Disclaimer

Statements and assumptions made in this Presentation with respect to Auriant Mining AB’s (“Auriant”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Auriant. 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 Auriant’s management's expectations and assumptions in light of currently available information. 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 forecasted in this Presentation. Auriant do not assume any unconditional obligation to update any such statements and/or forecasts immediately.

Auriant Presentation 2

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Auriant Mining overview

General information

Auriant Mining AB is a Swedish junior mining company focused on gold production in Russia Auriant Mining AB is one of only a few publicly listed junior mining companies in Russia Gold Reserves – ~1 Moz according to Russian C1+C2 categories 2012 production – 642 kg (20,640 oz) 2013 production– 1,142 kg (36,716 oz) Headquartered in Stockholm, Sweden Auriant Mining is listed on NASDAQ OMX First North Premier

Shareholder structure Management shareholding

• As of April 2014 Auriant Mining management holds 690 229

shares – 3.9% of total

• Total amount of options holds by company’s management is

1,306,768

• Total management shareholding on a fully diluted basis - 10.4%

52.32% 6.54% 5.25% 4.07% 3.88% 2.81% 2.19% 22.95%

BERTIL HOLDINGS (P.Haskell) UBS AG LDN BRANCH A/C CLIENT, IPB SWISS LIFE (LIECHTENSTEIN) AG SVEA LANDS. S.A Auriant Management SWISS LIFE LIECHTENSTEIN AG SIX SIS AG, W8IMY Other

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Core Assets

Solcocon Tardan and Greater Tardan Uzhunzhul Kara-Beldyr JV Auriant Management (Moscow) Auriant Mining AB (Stockholm) Tardan** C1+C2 Au 8.7 t @ 4.1 g/t Kara-Beldyr JV* MI&I Au 500,000 oz @ 2.2 g/t Solcocon (Hard Rock) C1+C2 Au 15.8 t @ 5.2 g/t Solcocon (Alluvial) C1+C2 Au 1.3 t @ 1.2 g/m3 * Auriant share in Kara-Beldyr is 30% Uzhunzhul Exploration ** Includes 2.5 tonnes of Greater Tardan reserves submitted for approval

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Positioning

SENIOR MIDCAP JUNIOR/ DEVELOPMENT SMALL PRODUCERS

Auriant Mining is a junior producer with:

• A solid pipeline of projects
• Increasing operating cash flows and growing

production

• A core team with international experience in the gold

mining industry

Reserves & Resources Market position

Stage Tardan Production Solcocon Production / Exploration Kara-Beldyr JV Scoping Study Uzhunzhul Exploration Greater Tardan Exploration

C1 C2 C1 + C2

Alluvial/Hard Rock Ore, 000 m3 Ore, 000 t Au, g/t (g/m3)* Au, kg Au, 000 oz Ore, 000 m3 Ore, 000 t Au, g/t (g/m3)* Au, kg Au, 000 oz Ore, 000 m3 Ore, 000 t Au, g/t (g/m3)* Au, kg Au, 000 oz

Tardan Tardan deposit Hard Rock 1,335 3.5 4,661 150 325 4.8 1,565 50 1,660 3.7 6,226 200 Greater Tardan Hard Rock 528 4.46 2,356 76 15 6.67 101 3.2 543 4.52 2,457 79 Staroverinskaya Kozlovskoye Hard Rock 218 10.4 2, 030 65 841 7.8 6,585 212 1,059 8.1 8,615 277 Bogomolovskoye Hard Rock 2,000 3.6 7,184 231 2,000 3.6 7,184 231 Borzya Alluvial 271 0.9 233 7.5 817 1.3 1,060 34 1,088 1,293 41.6 Uzhunzhul Hard Rock TOTAL 271 2,081 7,250 234 817 3,181 16,495 530 1,088 5,262 25,775 829 Measured & Indicated Resources Inferred Resources MI&I

License Ore Type Ore, 000 t Au, g/t Au, kg Au, 000 oz Ore, 000 t Au, g/t Au, kg Au, 000 oz Ore, 000 t Au, g/t Au, kg Au, 000 oz

Kara-Beldyr* Hard Rock 3,790 2.4 8,989 289 3,354 2 6,563 211 7,144 2.2 15,552 500

* Represents overall Kara-Beldyr reserves

Board of Directors

Auriant Presentation 6

Ingmar Haga (NED and Independent)

Board member since May 24, 2012. Ingmar Haga is a citizen of Finland, born 1951. Ingmar is currently Vice President Europe of Agnico Eagle Mines Limited, a position he has held since 2006. He has held various executive and corporate positions with the Outokumpu Group in Finland and Canada. Prior to joining Agnico Eagle, he was President of Polar Mining Oy, a Finnish subsidiary of Dragon Mining NL of Australia. He has also served as a board member

• f

the Finnish Mining Association from 2007-2008 and as their Chairman in

• 2009. Since 2010 he has been a member of the Euromines

Steering Committee. Ingmar has an MSc from Åbo Akademi, Finland.

Andrê Bekker (NED and Independent)

Board member since November 27, 2012. Andrê is a citizen of South Africa, born 1959. He is one of the most respected geologists and mining executives in Southern Africa. He is currently an Executive Officer of Sylvania Platinum, a position he has held since

• 2011. His previous experience includes Technical Director of

Amaria Holdings (2006 – 2010) a major resource investment company with projects in platinum, manganese, nickel and coal; Senior Operations Manager

• f

Royal Bafokeng Resources (2005 -2006), a major mining investor; Head of Mining for the Industrial Development Corporation of South Africa (1991 – 2005); as well as serving as the Assistant Resident Geologist for a major Anglo American South African gold mine, and geologist of Rand Mines (1983 – 1986). Andrê has a BSc (Hons) from the University of Free State and a management diploma from Unisa. He is a member of the Geological Society of South Africa.

Preston Haskell (NED)

Chief Executive Officer until May 24, 2012 and Chairman of the Board since May 24, 2012. Preston Haskell is Saint Kitts and Nevis citizen, born 1966, and has been active as a businessman in Russia since the early 1990s. Preston has a Degree in Economics from the University of Southern California in the U.S.

Lord Peter Daresbury Chairman (NED and Independent)

Board member since November 27, 2012. Peter Daresbury is a citizen of the United Kingdom, born in 1953. He has held many senior positions in the mining industry, including Directorships in Sumatra Copper & Gold Ltd (2007 – 2012); Evraz Group S.A., Russia’s largest steel producer (2005 – 2006); as well as Chairman of Kazakhgold Group Ltd (2005 - 2007); and Chairman of Highland Gold Mining Ltd, a major Russian gold miner (2002 – 2004). Peter is currently Chairman of Mallett PLC, Aintree Racecourse Ltd and Nasstar PLC. Current directorships include Bespoke Hotels Ltd, Rusant Ltd, a Russian antimony miner, and Pesto

• Restaurants. Since 2005, Peter Daresbury has been a member of

Fleming Family and Partners Private Equity Investment Committee and since 1998 he serves as the Chairman of Aintree Racecourse Ltd. Peter has an MA in history from Cambridge University.

Bertil Villard (NED and Independent)

Board member since May 15, 2013. Bertil is a citizen of Sweden, born in 1952. He is a senior partner of Vinge law firm, one of Sweden's largest law firms with a solid reputation as a valuable adviser on corporate matters including corporate governance and mergers and acquisitions. He has extensive practical corporate governance experience from previously serving as secretary and board member of several publicly listed companies. Prior to Vinge KB, his experience included Head of Corporate and Finance at Alfred Berg Fondkomission AB, General Counsel of Esselte AB, Swedish Match AB and Stora Kopparberg AB. He has also served as the Chairman

• f several companies: AMF Pension AB, Lernia AB, Salus

Ansvar AB, Pergo AB and SEB Trygg Liv(Gamla). He is currently serving as Chairman or board member in Novestra AB, Landsort Care AB 1-3(chairman),Mercuri International AB, Cleanergy AB, Voddler AB and Prior&Nilsson Kapitalförvaltning AB. 2014-10-08

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Group management

Max Yacoub CIO

Max Yacoub, a dual British/Russian national, joined Auriant Mining AB as Chief Investment Officer in November 2012. His previous experience includes 8 years with the International Finance Corporation (IFC) where he was an Investment Officer focusing on investments in the gold mining sector in Russia and the CIS as well as Head of Office for IFC in Belarus. He also has experience of private equity in Russia. Max graduated from the University of Birmingham in the UK with a B.Eng in Manufacturing Engineering and a B.Com in Economics. He also has an MBA from Harvard Business School. Shares: 19,295 Options/ Warrants: 180,000

COO Vladimir Churin Chief Geologist

Vladimir, a Russian national, joined Auriant Mining as Chief Geologist in October 2012. He has more than 30 years’ experience as a gold geologist in gold exploration and deposit

• discovery. His previous experience includes being Chief

Geologist with Altynalmas in Kazakhstan (2011-2012), Exploration Manager Oxus Resources in Uzbekistan (2010- 2011), and Deputy Chief of the Russian Federal Geological Agency in the Buryatiya Republic (2009-2010). Additionally, he worked as Exploration Manager for Severstal Resurs (now called Nordgold, a major Russian gold producer), Ilmenit (a Siberian junior miner), and Kinross Gold. Vladimir graduated from the Leningrad Mining Institute with an MSc in Geology with a concentration in Exploration Geology. Shares: 0 Warrants: 20,000

Ekaterina Babaeva General Counsel

Ekaterina Babaeva, a Russian national, joined Auriant Mining in April 2012 as acting Group General Counsel and was then appointed Group General Counsel in August 2012. Previously Ekaterina was Legal Advisor to Colliers International from 2004 to 2009 (a company associated with Preston Haskell), having previously worked as a lawyer in a company providing audit and legal advisory services. Ekaterina has focused on Russian and international corporate and M&A matters, and has experience in real estate and mining law. At present, in addition to her role at Auriant, Ekaterina continues to work as Head of Legal Department at Haskell Group. Ekaterina graduated with honors from the Law Department of Moscow State Lomonosov University. Shares: 235,492 Options/ Warrants: 40,000

Denis Alexandrov CEO

Denis Alexandrov, a Russian national, joined Auriant Mining AB as CEO in May 2012 having previously held senior positions in two Russia-focused investment companies, A1

• ne of Russian’s largest investment funds where he was CFO

and acting CEO, and Arlan, one of Russia’s largest gold focused investment funds. From 2001 to 2003 he was CFO of Highland Gold Mining Plc., following two years at Alfa Group in London. Previously he spent 5 years with

• PricewaterhouseCoopers. His Board appointments have

included Highland Gold, Timan Oil and Gas, Stellar Diamonds, Systematika Group, Remet and Silver Bear PLC. Denis holds an MBA from the Moscow School of Management (Skolkovo). Shares: 435,442 Options/ Warrants: 811, 768

Sergey Ustimenko CFO

Sergey, a Russian national, joint Auriant Mining in May

• 2014. His previous position was as CFO of Ferronordic

Machines AB, a large Swedish distributer of construction

• equipment. Over the last 10 years he held CFO positions in

large companies engaged in automobile distribution, airline industry and financial services. Prior to this Sergey was head of control at LUKOIL, the largest private Russian

• il company. He also has 7 years experience in audit with

BDO, KPMG and Arthur Andersen. Sergey graduated from Moscow State Technical University named after Bauman as engineer. He also holds CPA qualification from 2001. Shares: 0 Options/ Warrants: 0

Sergei Shumilov HR Director

Sergei is an experienced Human Resources and Development professional. He joined Auriant in 2012 as HR Director for the Group. Previously he was an HR Director for Lafarge Russia (a leader in construction materials) from 2009 – 2011, as Plant Training and Development Manager for Lafarge’s Voskresenskcement plant (2007-2009). Prior to Lafarge he worked in sales, marketing and merchandising at Philip Morris Russia from 1998 – 2006). In addition, since 2009 he is an Executive Coach with the Center for Creative Leadership. Sergei graduated from the Saratov State University with an MSc in Radio Engineering. Shares: 0 Options/ Warrants: 100,000 2014-10-08

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Three-fold strategy

Short term Short to mid term Mid to long term

Focus on existing production and cost efficiency – ramp up to capacity of 2 tonnes (64,000 oz) per year Exploration of highly prospective areas (>900 km2) within current licenses to increase company reserves Position Auriant as a consolidation vehicle for Russian gold mining sector

96 412 658 238 116 107 76 114 377

410 642 1,142 1,300 - 1,400 2,000

2011 2012 2013 2014 2015 2015 - 2016

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Short term strategy–production ramp-up and focus on efficiency

kg

Auriant Mining Gold production

Tardan Solcocon Alluvial forecast

• Cost control and efficiency key focus – in 2014 mining costs per m3 down by 19% and processing

costs per tonne of ore down by 30%

• Auriant Mining became the largest public junior gold producer in Russia in 2013

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Tyva Assets General information

Tardan Tardan ~70 km Kara-Beldyr

Location

Kundustuk village ~20 км Kyzyl

Description

Currently Auriant Mining has 2 projects in Tyva:

• Project 1 – operating Tardan mine (3.3 sq.km) and Greater

Tardan exploration area (>540 sq.km) (located in a region with developed infrastructure);

• Project 2 - Kara-Beldyr exploration area (Auriant holds 30% in

a JV with Centerra Gold) Description of the region:

• Part of the prolific Altai-Sayansky belt, containing gold, copper,

molybdenum

• Relatively unexplored
• Numerous historical alluvial deposits
• Intergeo owns the large Ak-Sug copper poprphyry deposit near

Tardan

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Tardan

Key facts

• Reserves: Au 8.7 t @ 4.1 g/t (279 koz)
• Explored anomalies ready for drilling to further increase reserves
• Heap Leach capacity – 600 kt p.a.
• Current recovery – 67%
• Gold production 2013 – 658 kg (21,155 oz)
• Expected gold production 2014 – 800 kg (25,720 oz)
• Exploration 2013/14 – Increased reserves by Au 3.5t at Tardan and

Greater Tardan Pit contours

900 - 1,000 kg

• f

gold p.a.

100 - 200 kg

• f gold p.a.

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Ore 4-8 g/t Ore 2 g/t Ore mining 600 - 850 kt p.a. Gravitation 100 kt p.a. Tailings 100 kt p.a.

Target production at full capacity – Au 1,000 – 1,200 kg p.a. Key facts

• Open pit and heap leaching
• Target production at full capacity - Au

1,000 - 1,200 kg p.a.

• Heap Leach capacity – 600 kt p.a.
• Recovery rate - 67%

Tardan production

Heap leaching 500 - 650 kt p.a.

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Key facts

• 540 km2 area
• Prospective areas with different types of

mineralisation were identified:

• Quartz-sulfide (1,9,10,11,12)
• Gold scarns (2,3,4,5,6,7)
• Porphyry type (8)
• Black shale
• Gold scarn area contains ore suitable for

current heap leach operations

Short to mid term strategy – Organic Growth Greater Tardan exploration

Tardan Mine Exploration potential with same type of mineralisation

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• Auriant holds 30% in JV with Centerra

Gold

• Centerra is a proven international operator
• NI 43-101 resources of 500,000 oz @ 2.2 g/t
• Exploration completed. Expect increase in

resources in 2014

• License valid till 2027

Key facts

Short to mid term strategy – Organic Growth Kara – Beldyr exploration

2014-10-08 67000 38000 37000 39000 Ore body Beresite and quartz zones Proposed pits

Gordeyevskaya Zone Camp Zone Ezen Zone Baran Zone

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Zabaikalskiy Krai General information

~350 km Solcocon

Location Description

Currently Auriant Mining has a producing gold mine in Zabaikalskiy Krai - Solcocon

• Zabaikalsiy Krai historically one of the most prolific gold

producing areas of Eurasia

• Numerous gold mines in the area and very high exploration

potential

• Large miners present include Highland Gold Mining, UGC

(Yuzhuralzoloto), Norilsk Nickel, ARMZ (top 3 global uranium miner)

• In addition to gold there are numerous copper, uranium, silver

and polymetallic deposits

Solcocon Chita ~350 km

16

Solcocon

Key facts

• Reserves Au 15 t (508 koz) @ 6.5 g/t, incl. 7.2 t

(231 koz) @ 3.6 g/t for heap leaching

• Heap leach production capacity – 300 kt p.a.
• Alluvial gold production capacity – 250 kg p.a.
• Recovery rate - 59%
• Total gold production 2013 – 485 kg (15,593 oz)
• Excellent exploration potential to increase

reserves

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Solcocon production

Ore 3 g/t Alluvial

Target production at full capacity – Au 750 – 800 kg p.a. Key facts

• Open pit and heap leaching
• Target production at full capacity – Au

750 - 800 kg p.a.

• Ore capacity – 300 k t p.a.
• Recovery rate - 59%

250 - 270

kg of gold p.a.

500 - 550

kg of gold p.a.

Heap leaching 300 kt p.a. Ore mining 300 kt p.a.

Fe, Teiskiy mine Chernogorskiy coal basin Au, Chazy-Gol mine Au, Mayskiy mine Al, Sayanskiy aluminium plant Sayano-Shushinskaya hydroelectric power station

Uzhunzhul

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Uzhunzhul General information

Uzhunzhul Tardan ~70 km

Location

Kundustuk village

Description

Auriant Mining is the 100% owner of the Uzhunzhul exploration property in the republic of Khakassia Summary:

• Total license area – 134 km2
• License expiration - 2031
• Well developed regional infrastructure – roads and railroads,

Sayano-Shushinskaya hydroelectric power station

• Large number of mines in the region
• Producing Chazy-Gol gold mine (Kuznetskovskoy deposit, owned

by Golden Star) is directly adjacent to Uzhnuzhul

Au, Cu, Mo, Sorskiy GOK

2014-10-08 Auriant Presentation 19

Russian gold mining industry snapshot

Top Russian gold producers (as of 2013)

tonnes

Public companies

Public companies represent 59.3% of total production

Non-public companies

Non-public companies (>400) Top-6 (All public) Junior public producers

• Relatively little production given Russia’s

very large gold reserves

• Very few public junior miners (only 3

producers)

• Lots of opportunities for consolidation,

especially among non-listed companies

Production structure

>400 private companies

69 51.3 23.2 21.7 14.9 9.9 7.3 2.7 7.0 5.4 4.2 3.92

Polyus Gold Petropavlovsk Polymetal Kinross Nordgold N.V. Highland Gold Mining Other Public Uzhuralzoloto GV Gold Sovrudnik Susumanzoloto

1.2% 40.7 % 58.1 %

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Auriant Mining Summary

• Largest public junior gold miner in Russia
• Fastest growing hard rock gold producer in Russia
• 78% production annual growth in 2013
• 2 producing mines, 3 exploration properties
• Since new management took over in 2012, Auriant has met all targets
• Excellent organic and M&A growth opportunities
• All major CAPEX already undertaken
• Strong Board of Directors and Corporate Governance

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Thank you

Max Yacoub CIO and IR Max.Yacoub@Auriant.com Denis Alexandrov CEO Denis.Alexandrov@Auriant.com Auriant Mining AB Tulegatan 2 A, 113 58 Stockholm, Sweden Tel: +7 495 660 2220 www.auriant.com