REG-AltynGold Plc 3rd Quarter Results

AltyngoldAnnouncement

11/11/2024 07:00

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3rd Quarter Results

 

AltynGold Plc

("AltynGold" or the "Company")

Third quarter 2024 production update

Strong operational performance delivering significantly increased revenues
with upgraded processing plant set to increase capacity

AltynGold is pleased to announce its Q3 2024 production update.

The Company delivered a robust operational performance in line with the
management’s expectations. Revenues were substantially higher, increasing by
39% from the prior 9-month period. The average gold price achieved was above
US$2,300oz, the gold price at the date of the report is currently above
US$2,700oz.

Production for the period was in line with the current production plan, with
ore mined increasing by 4.4% over the prior 9-month period.

The gold grade mined in the 9-month period averaged 2.13g/t with the average
grade that has been processed year to date reported at 2.3g/t, reflecting the
use of the higher-grade ore from the ore stockpiles.

Details of the key production figures for the quarter and year to date are
shown below:
                                       3Q2024   3Q2023   Year to date 2024  Year to date 2023  
 Ore mined                     tons    206,199  186,120  540,300            517,303            
 Ore milled                    tons    167,343  161,527  446,594            441,682            
 Contained gold                ounces  12,347   10,986   32,936             28,419             
 Gold poured                   ounces  10,490   9,038    27,903             23,478             
 Average gold grade processed  g/ton   2.30     2.12     2.30               2.00               
 Revenues                      US$m    25.1     17.9     63.7               45.7               


As previously reported, the processing plant upgrade has been undergoing
extensive testing as it is integrated into the existing infrastructure.

The management is pleased to confirm this is almost complete, with testing and
integration going to plan. The increased capacity is expected to come online
within the next month.

The Board continues to make good progress in evaluating additional development
opportunities to ensure the Company can continue to deliver long-term
sustainable growth.

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=54149833&newsitemid=20241110971384&lan=en-US&anchor=www.altyngold.uk&index=1&md5=beb55bc3e332365efde7328816eb914d)



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AltynGold Plc


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