ALTYN PLC: 3rd Quarter Results
12 October 2021 - 5:00PM
UK Regulatory
TIDMALTN
AltynGold Plc
("AltynGold" or the "Company")
Third quarter production results
AltynGold is pleased to announce its 3Q21 production
results.
Highlights:
-- The quantity of contained gold increased by over 15.3% QoQ. Our team is
working on further improving the quantity of contained gold in the
upcoming quarters.
-- The Company maintained its positive momentum in production growth with
mined ore production up 11.2% QoQ to 149,998 tons. The annualized run
rate achieved during the quarter reached another milestone of
600kt/year. Mined ore production increased 2.6% with no technical
interruptions.
-- Average grade improved 4.5% QoQ from 1.98g/t to 2.07g/t. The Company is
working on further grade improvement towards 2.2g/t over the coming
quarters.
-- While facing headwind from declining gold prices, revenues were
marginally up on strong production dynamics.
-- The Company is actively continuing the development of Teren-Sai deposit.
The reserves estimate is currently being measured in accordance with the
State Reserves Committee of Kazakhstan, upon which the analysis will be
forwarded to the appropriate government body. This will enable the
Company progress towards its next phase of operations and start
production at the Area No. 2 in 2024.
-- On COVID-19 update, even with the precautionary procedures required by
the local authorities, the Company had no interruptions on its production
operations or any other negative effect during the quarter. All
operational processes continued at a regular pace and the Company
provides comprehensive assistance in the voluntary vaccination of its
employees. The health and safety of our employees is the top priority of
the Company.
1Q21 2Q21 3Q21
Ore mined tons 131,733 134,874 149,998
Contained gold ounces 7,462 8,442 9,732
Ore milled tons 132,834 129,910 133,291
Average gold grade gr/tone 1.78 1.98 2.07
Gold poured ounces 6,272 6,794 7,440
Revenue USD m 10.06 12.72 12.80
Further Information:
For further information please contact:
AltynGold Plc
Rajinder Basra
+44 (0) 207 932 2455
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
AltynGold Plc (LSE:ALTN) is an exploration and development
company, which is listed on the main market segment of the London
Stock Exchange.
To read more about Altyn Plc please visit our website
www.altyngold.uk.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20211011005646/en/
CONTACT:
Altyn Plc
SOURCE: Altyn Plc
Copyright Business Wire 2021
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