ALTN Altyngold Plc

TIDMALTN 
 

AltynGold Plc

("AltynGold" or the "Company")

Second quarter 2022 production update

AltynGold is pleased to announce its 2Q22 production update.

Highlights:

   -- Revenues went up 22.2% quarter on quarter on increased gold production 
      and higher average selling price. 
 
   -- The company showed positive operational growth dynamics with mined and 
      milled ore production increasing 6.3% and 2.5% quarter on quarter 
      respectively. 
 
   -- Contained gold rose 7.6% quarter on quarter to 9,510 ounces on higher 
      grades which improved from 2.03g/t to 2.09g/t. 
 
                               1Q22     2Q22 
Ore mined            tons      134,461  142,937 
Contained gold       ounces    8,841    9,510 
Ore milled           tons      151,431  155,168 
Average gold grade   gr/tone   2.03     2.09 
Gold poured          ounces    8,129    8,836 
Revenue              USD m     14.38    17.57 
 

The CEO Aidar Assaubayev commented: "AltynGold is on track for another strong year. Production and grades are trending higher supporting increased revenues. The ensuing cash flows and the recently approved bank loan will provide the financing for the capacity expansion which will move the business to the next level".

Further Information:

For further information please contact:

AltynGold Plc

info@altyn.uk

Rajinder Basra

+44 (0) 203 432 3198

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 AltynGold Plc please visit our website www.altyngold.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20220731005032/en/

 
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AltynGold Plc

 
    SOURCE: AltynGold Plc 
Copyright Business Wire 2022 
 

(END) Dow Jones Newswires

August 01, 2022 02:00 ET (06:00 GMT)

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