REG-AltynGold Plc 2nd Quarter Results

AltyngoldAnnouncement

01/08/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220801:nBw8J0cVNa&default-theme=true


2nd Quarter Results

 

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 
(mailto: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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=52797147&newsitemid=20220731005032&lan=en-US&anchor=www.altyngold.uk&index=1&md5=ff8c7683b8f6ff132664cb3ce6f862a5)



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

AltynGold Plc


Copyright Business Wire 2022