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Drilling/Production Report
AltynGold Plc
("AltynGold" or the "Company")
Fourth quarter 2023 production update
AltynGold is pleased to announce its 4Q2023 production update.
Full-year 2023 volume of mined ore increased 33% with annualised 4Q23
production running at 737kt/y.
Gold grade steadily recovered during the year, increasing from 1.90g/t in 1Q23
to 2.32g/t in 4Q2023. Full-year average grade was 2.08g/t.
As mentioned in prior updates, volume of processed ore was affected by the
ongoing plant expansion. Full-year volume of milled ore increased 1.1% while
poured gold declined 2.7%. The processing plant upgrade is now expected to be
completed in 3Q24.
Full-year total revenue increased 2.7% to $63.7m on higher average gold price
in 2023.
Details of the key production figures for the quarter and the full year are
shown below:
4Q2023 4Q2022 Year 31/12/2023 Year 31/12/2022
Ore mined tons 184,162 118,629 701,465 527,231
Ore milled tons 150,293 125,321 591,975 585,480
Contained gold ounces 16,851 9,340 45,270 36,835
Gold poured ounces 9,632 8,259 33,110 34,023
Average gold grade g/ton 2.32 2.49 2.08 2.17
Revenues US$m 18.0 14.5 63.7 62.0
Further Information:
For further information please contact:
AltynGold Plc
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 Regulation
(EU) No. 596/2014, as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018.
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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=53900456&newsitemid=20240225738572&lan=en-US&anchor=www.altyngold.uk&index=1&md5=9ceab657e1264ff887cb06acd7e8221a)
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AltynGold Plc
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