ALTYNGOLD PLC: 4th Quarter results
31 January 2022 - 6:00PM
UK Regulatory
TIDMALTN
AltynGold Plc
("AltynGold" or the "Company")
Fourth quarter production results
AltynGold is pleased to announce its 4Q21 production results
Highlights:
-- Revenues increased 12.8% QoQ to 14.44 USD million. Growth was mainly
driven by operational improvements given stable average gold price
dynamic compared to the previous quarter.
-- The Company maintained positive growth momentum in production with milled
ore, mined ore and contained gold production increasing 9.2%, 2.9% and
2.2% QoQ respectively. 4Q21 annualized production run rate reached
618kt/year.
-- Average grade was 2.02g/t versus 2.07g/t in 3Q21 given increased share of
developmental ore mined during the quarter. The Company is on track to
achieve 2.2g/t grade over the coming quarters.
-- The Company had no interruptions on its production operations due to
COVID-19 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 remains our top priority.
1Q21 2Q21 3Q21 4Q21
Ore mined Tons 131,733 134,874 149,998 154,430
Contained gold Ounces 7,462 8,442 9,732 9,944
Ore milled Tons 132,834 129,910 133,291 145,541
Average gold grade gr/tone 1.78 1.98 2.07 2.02
Gold poured Ounces 6,272 6,794 7,440 7,944
Revenue USD m 10.06 12.72 12.80 14.44
Aidar Assaubayev, CEO of the Company commented:
"We are pleased with our latest set of results. The steady
increase in ore milled, ore mined and contained gold production
highlight the quality of our Sekisovskoye deposit and confirm
progress towards our medium term goal of producing 100 thousand
ounces of gold annually.
"The Company posted record revenue of $14.4 million for the
quarter, during which time gold prices were stable. This record was
primarily supported by our efficiency and low-cost production base.
It's worth noting that our annual revenue for 2021 is substantially
higher than our company's current market valuation, making us one
of the most undervalued gold mining stocks on the London Stock
Exchange. With gold prices now on the rise and our improving
operational excellence, I am positive that we will deliver even
better numbers in the coming year."
Further Information:
For further information please contact:
AltynGold Plc
Rajinder Basra
+44 (0) 203 432 3198
For media inquiries please contact:
Maria Ermakova
ermakova@em-comms.com
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 is a leading gold miner in Kazakhstan, a
resource-rich country where the mining sector has always been a key
driver of economic growth. AltynGold has a high-quality resource
base at its two primary assets, Sekisovskoye and Teren-sai. For the
year ended 31 December 2020 AltynGold had gold sales of 16,535 oz.,
revenue of USD 30.0 mln and EBITDA of USD 13.5 mln, with an EBITDA
margin of 45.0%.
Shares of AltynGold Plc are traded on the London Stock Exchange
and are listed on the Main Market under the ticker "ALTN".
For more information: www.altyngold.uk
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220130005034/en/
CONTACT:
AltynGold Plc
SOURCE: AltynGold Plc
Copyright Business Wire 2022
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