REG-AltynGold Plc 4th Quarter results

AltyngoldAnnouncement

31/01/2022 07:00

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4th Quarter results

 

AltynGold Plc

("AltynGold" or the "Company")

Fourth quarter production results

AltynGold is pleased to announce its 4Q21 production results

Highlights:


 * Revenues increased 12.8% QoQ to 14.44 USD million. Growth was mainly driven by
operational improvements given stable average gold price dynamic compared to
the previous quarter.


 * The Company maintained positive growth momentum in production with milled ore,
mined ore and contained gold production increasing 9.2%, 2.9% and 2.2% QoQ
respectively. 4Q21 annualized production run rate reached 618kt/year.


 * Average grade was 2.02g/t versus 2.07g/t in 3Q21 given increased share of
developmental ore mined during the quarter. The Company is on track to achieve
2.2g/t grade over the coming quarters.


 * The Company had no interruptions on its production operations due to COVID-19
or any other negative effect during the quarter. All operational processes
continued at a regular pace and the Company provides comprehensive assistance
in the voluntary vaccination of its employees. The health and safety of our
employees remains our top priority.
                                  1Q21         2Q21         3Q21         4Q21     
 Ore mined           Tons         131,733      134,874      149,998      154,430  
 Contained gold      Ounces       7,462        8,442        9,732        9,944    
 Ore milled          Tons         132,834      129,910      133,291      145,541  
 Average gold grade  gr/tone      1.78         1.98         2.07         2.02     
 Gold poured         Ounces       6,272        6,794        7,440        7,944    
 Revenue             USD m        10.06        12.72        12.80        14.44    


Aidar Assaubayev, CEO of the Company commented:

“We are pleased with our latest set of results. The steady increase in ore
milled, ore mined and contained gold production highlight the quality of our
Sekisovskoye deposit and confirm progress towards our medium term goal of
producing 100 thousand ounces of gold annually.

“The Company posted record revenue of $14.4 million for the quarter, during
which time gold prices were stable. This record was primarily supported by our
efficiency and low-cost production base. It’s worth noting that our annual
revenue for 2021 is substantially higher than our company’s current market
valuation, making us one of the most undervalued gold mining stocks on the
London Stock Exchange. With gold prices now on the rise and our improving
operational excellence, I am positive that we will deliver even better numbers
in the coming year.”

Further Information:

For further information please contact:

AltynGold Plc

Rajinder Basra

+44 (0) 203 432 3198

For media inquiries please contact:

Maria Ermakova

ermakova@em-comms.com (mailto:ermakova@em-comms.com)

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 is a leading gold miner in Kazakhstan, a resource-rich country
where the mining sector has always been a key driver of economic growth.
AltynGold has a high-quality resource base at its two primary assets,
Sekisovskoye and Teren-sai. For the year ended 31 December 2020 AltynGold had
gold sales of 16,535 oz., revenue of USD 30.0 mln and EBITDA of USD 13.5 mln,
with an EBITDA margin of 45.0%.

Shares of AltynGold Plc are traded on the London Stock Exchange and are listed
on the Main Market under the ticker “ALTN”.

For more information: www.altyngold.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=52570909&newsitemid=20220130005034&lan=en-US&anchor=www.altyngold.uk&index=1&md5=78af4b86d2fa69c9c85ebcc964ea0679)



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AltynGold Plc


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