REG-AltynGold Plc 1st Quarter Results

AltyngoldAnnouncement

16/05/2022 07:00

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1st Quarter Results

 

AltynGold Plc

("AltynGold" or the "Company")

First quarter 2022 production update

AltynGold is pleased to announce its 1Q22 production update.

Highlights:


 * Revenues soared 42.9% yoy, the average gold price has increased from the prior
period but a significant factor in the increase was the rise in output and
grades achieved in the period.

 * Despite severe weather conditions, the company was able to increase mining
production by 2% yoy from 131.7kt to 134.5kt.

 * Higher milled ore up 14% yoy and improved grades at 2.03g/t in 1Q22 versus
1.78g/t in 1Q21 resulted in 26% yoy increase in poured gold. The Company
expects further grade improvement in the upcoming quarters following the
purchase of new equipment.

 * During 1Q22 the Company was not impacted by any COVID-19 related issues. While
Kazakhstan authorities lifted restrictions, the management of the Company
continues to closely monitor the situation.
                              1Q20    1Q21     1Q22     
 Ore mined           tons     92,324  131,733  134,461  
 Contained gold      ounces   4,376   7,462    8,841    
 Ore milled          tons     92,909  132,834  151,431  
 Average gold grade  gr/tone  1.49    1.78     2.03     
 Gold poured         ounces   3,380   6,272    8,129    
 Revenue             USD m    4.58    10.06    14.38    


An update in relation to the annual results and details of the 2022 Annual
General Meeting will be released shortly.

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 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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=52719837&newsitemid=20220515005033&lan=en-US&anchor=www.altyngold.uk&index=1&md5=2db72f0aaf063b3081eaed578626051f)



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AltynGold Plc


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