REG-AltynGold Plc Drilling/Production Report

AltyngoldAnnouncement

26/02/2024 07:00

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Drilling/Production Report

 

AltynGold Plc

("AltynGold" or the "Company")

Fourth quarter 2023 production update

AltynGold is pleased to announce its 4Q2023 production update.

Full-year 2023 volume of mined ore increased 33% with annualised 4Q23
production running at 737kt/y.

Gold grade steadily recovered during the year, increasing from 1.90g/t in 1Q23
to 2.32g/t in 4Q2023. Full-year average grade was 2.08g/t.

As mentioned in prior updates, volume of processed ore was affected by the
ongoing plant expansion. Full-year volume of milled ore increased 1.1% while
poured gold declined 2.7%. The processing plant upgrade is now expected to be
completed in 3Q24.

Full-year total revenue increased 2.7% to $63.7m on higher average gold price
in 2023.

Details of the key production figures for the quarter and the full year are
shown below:
                             4Q2023   4Q2022   Year 31/12/2023  Year 31/12/2022  
 Ore mined           tons    184,162  118,629  701,465          527,231          
 Ore milled          tons    150,293  125,321  591,975          585,480          
 Contained gold      ounces  16,851   9,340    45,270           36,835           
 Gold poured         ounces  9,632    8,259    33,110           34,023           
 Average gold grade  g/ton   2.32     2.49     2.08             2.17             
 Revenues            US$m    18.0     14.5     63.7             62.0             


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=53900456&newsitemid=20240225738572&lan=en-US&anchor=www.altyngold.uk&index=1&md5=9ceab657e1264ff887cb06acd7e8221a)



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AltynGold Plc


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