REG-AltynGold Plc Fourth quarter revenue and production update

AltyngoldAnnouncement

15/03/2023 07:00

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Fourth quarter revenue and production update

 

AltynGold Plc

("AltynGold" or the "Company")

Fourth quarter 2022 production update

AltynGold is pleased to announce its 4Q22 production update.

Highlights:


 * For the year to 31 December 2022, 34.023koz of gold were produced - the
highest level since operations at Sekisovskoye mine commenced – this was
achieved as a result of a combined improvement in ore quality (average grade
2.17g/t) and the gold recovery factor (83.3%).


 * Ore production for 4Q22 was abnormally low at 118.6kt due to extreme weather
conditions, while mined ore reached 124.1kt as the company drew on its ore
stockpile.


 * Notwithstanding, gold production remained above the eight thousand ounces mark
on significantly improved grades that reached 2.49g/t in 4Q22. This shows the
company’s capacity for grade management as well as the depth of its
exploration program.


 * Revenues for the quarter were marginally down with positive gold price dynamic
mitigating reduced volumes. Revenues for the year totalled US$61.2m (2021
us$50.3m) an increase of US$10.9m, a 22% increase in revenues from the prior
year.


 * With respect to 2023 the company is accelerating its growth plan driven by an
expanded fleet of LHDs and underground dump tracks. In anticipation, AltynGold
has been accelerating the opening of deeper horizons with the development of
transport declines #1 and #2 below +100m mark. During 4Q22 mining operations
at the Sekisovskoye mine were carried out at +150m, +134m, +117m and +100m
levels.
                              1Q22     2Q22     3Q22     4Q22     Total    
 Ore mined           tons     134,461  142,937  131,204  118,629  527,231  
 Contained gold      ounces   8,841    9,510    9,144    9,324    36,819   
 Ore milled          tons     151,431  155,168  153,560  124,064  584,223  
 Average gold grade  gr/tone  2.03     2.09     2.11     2.49     2.17     
 Gold poured         ounces   8,129    8,836    8,799    8,259    34,023   
 Revenue             USD m    14.38    17.57    14.72    14.51    61.18    


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 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.altyn.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyn.uk&esheet=53361803&newsitemid=20230315005078&lan=en-US&anchor=www.altyn.uk&index=1&md5=467623a83df806d5fe5f3cde43fadf97)



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AltynGold Plc


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