Brief: Auriant Mining announce results of inspection

Auriant Mining AB

08/11/2019 11:15

Nov 8 (Reuters) - Auriant Mining AB  AURIM.ST :
    * REG-AURIANT MINING AB (PUBL.) PUBLISHES AN UPDATE  ON SUBSOIL USE LICENSES OF LLC «TARDAN
GOLD» 
FOLLOWING INSPECTION BY ROSPRIRODNADZOR
    * COMPANY PRESENTED ITS OBJECTIONS TO SOME OF FINDINGS THAT ROSPRIRODNADZOR HAD RAISED, AND
TARDAN
GOLD IS NOW CHALLENGING THOSE FINDINGS IN COURT
    * IN ADDITION, TARDAN GOLD HAS ALREADY RECTIFIED A NUMBER OF VIOLATIONS THAT WERE
HIGHLIGHTED, AND
IS WORKING ON REMAINING ONES.
    * ROSNEDRA HAS NOW CONSIDERED DOCUMENTS PROVIDED BY ROSPRIRODNADZOR AND BY TARDAN GOLD AND
HAS
MADE FOLLOWING DECISIONS
    * ROSNEDRA HAS NOTED FINDINGS IN RELATION TO SUBSOIL USE LICENSE NUMBER KZL 00367 BR AND HAS
DECIDED NOT TO TAKE ANY FURTHER STEPS IN RELATION TO THEM
    * DECISION CONFIRMS COMPANY'S INITIAL ASSESSMENT THAT SUBSIDIARY DID NOT COMMIT ANY SERIOUS
VIOLATIONS
    * ROSNEDRA HAS GIVEN TARDAN GOLD 12 MONTHS TO RECTIFY VIOLATIONS REVEALED BY ROSPRIRODNADZOR
IN
RELATION TO OTHER SUBSOIL USE LICENSE KZL 00322 BR, WHICH RELATES TO TARDAN DEPOSIT
    * IF SUBSIDIARY FAILS TO DO SO, ROSNEDRA WILL CONSIDER MATTER FURTHER AND MAY TERMINATE
LICENSE
    * COMPANY REMAINS CONFIDENT THAT EITHER TARDAN GOLD WILL BE ABLE TO PROVE ABSENCE OF
VIOLATIONS,
OR ISSUES WILL BE RECTIFIED WELL IN ADVANCE OF SPECIFIED DEADLINE
    * AT PRESENT THERE ARE NO RESTRICTIONS ON ANY OPERATIONS UNDER LICENSE.

Source text for Eikon:  ID:nGNE1n3k6S 
Further company coverage:  AURIM.ST 

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