REG-AltynGold Plc 3rd Quarter Results

AltyngoldAnnouncement

24/10/2023 07:00

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3rd Quarter Results

 

AltynGold Plc 

("AltynGold" or the "Company") 

Third quarter 2023 production update

AltynGold is pleased to announce its 3Q2023 production update.

As noted in the interims, year to date processed ore volume was affected by
the current plant upgrade. To mitigate disruptions, the management has
streamlined workflows while works are ongoing. As a result, 3Q23 ore milled
increased 4.3% yoy. The fully expanded 1mt/y capacity is expected to be
operational by the end of 1Q24.

Following substantial investments in mining equipment, 3Q23 production
expanded significantly to reach an annualised level of 744kt/y and a growth
rate of 41.8% yoy. Excess ore is being stockpiled ahead of the processing
plant upgrade.

Grades recovered to 2.12g/t in line with 3Q22 level. Year to date grades stood
at 2.00g/t slightly below last year’s average of 2.08g/t.

Revenues for the quarter increased 20.95% yoy to $17.9m on higher average gold
price and expanded volumes with gold poured up 2.7% yoy.

Details of the key production figures for the quarter and year to date are
shown below:
                             3Q2023   3Q2022   Year to     Year to     
                                               
date 2023  
date 2022  
 Ore mined           tons    186,120  131,204  517,303     408,602     
 Ore milled          tons    161,527  154,817  441,682     461,416     
 Contained gold      ounces  10,986   10,538   28,419      30,869      
 Gold poured         ounces  9,038    8,799    23,478      25,764      
 Average gold grade  g/ton   2.12     2.12     2.00        2.08        
 Revenues            US$m    17.9     14.8     45.7        44.3        


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=53654939&newsitemid=20231023542490&lan=en-US&anchor=www.altyngold.uk&index=1&md5=73aec2783e298aaaf344357bc8fd37d5)



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AltynGold Plc


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