Brief: Altyn Turnover Says Future Development Plans Dependent On Raising Further Funding

Altyngold

01/05/2019 07:23

May 1 (Reuters) - Altyn PLC  ALTNA.L :
    * TURNOVER DECREASED IN YEAR TO US$19.4 MILLION
    * FY  AVERAGE GOLD PRICE ACHIEVED (INCLUDING SILVER AS A BY-
PRODUCT) $1,292 OZ VERSUS $1,293 OZ IN 2017
    * NEGOTIATIONS ARE ONGOING WITH LENDER TO SECURE A FURTHER
US$13M
NEEDED FOR ADDITIONAL MINING EQUIPMENT
    * FUTURE DEVELOPMENT PLANS ARE DEPENDENT ON RAISING FURTHER
FUNDING
    * LIMITED SHORT TERM FUNDING HAS BEEN OBTAINED THAT WILL
ENABLE
COMPANY TO INCREASE PRODUCTION AND TURNOVER IN 2019
    * EXPECTATION AS IT CURRENTLY STANDS IS THAT INCREASED
FUNDING
WILL BE IN PLACE IN Q3 2019

Source text for Eikon:  ID:nBw3hMVjta 
Further company coverage:  ALTNA.L 

 ((Reuters.Briefs@thomsonreuters.com;))