REG-AltynGold Plc Q4 production results

AltyngoldAnnouncement

27/01/2025 07:00

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Q4 production results

 

AltynGold Plc

("AltynGold" or the "Company")

27 January 2025

Q4 and FY 2024 Production and Operational update

A significant milestone in the Company’s growth strategy

AltynGold (LSE:ALTN) is pleased to announce its production and operational
update for the three months to 31 December 2024 (“Q4 2024” or the
“Period”) and the twelve months to 31 December 2024 (“Full Year”). The
Company delivered a strong operational performance, achieving significant
milestones and advancing its strategy for long-term sustainable growth.

Record revenues and production

Revenues increased substantially, reaching an all-time high of $30.3m, rising
by 46.1% YoY to $94.5m for FY 2024.

Production for Q4 2024 increased by 13.9% YoY to 209Kt, exceeding an
annualised run rate of 800Kt. For the full year, ore production has risen to
594Kt (FY 2023: 592Kt). Pleasingly, this was achieved with minimal
interruption during a period of extensive processing plant upgrades.

Increased capacity

The Company completed and commissioned the third production line at the
processing plant in December 2024, increasing the processing capacity at
Sekisovskoye to 1Mtpa. This was achieved on time and within budget. This
milestone marks a transformative step in the Company’s growth journey,
significantly enhancing its ability to scale production and revenues.

These advancements demonstrate the Company’s commitment to delivering on its
growth strategy and set a solid foundation for its evolution into a
larger-scale producer.

2025 Production guidance

The new capacity positions the Company to achieve planned processing volumes
of 83Kt per month in 2025, with an expected annual production of over 50,000
ounces.

AltynGold CEO Aidar Assaubayev commented:

“I am pleased to report on our performance in 2024, with revenues reaching
an all-time high and the successful completion of our plant expansion
programme, achieved on time and within budget. These achievements mark a
transformative milestone for AltynGold, significantly strengthening our
capacity to scale operations and drive sustainable growth.

As we enter 2025, we are well-positioned to deliver on our production targets
and advance toward becoming a larger-scale gold producer. I look forward to
providing further updates in the coming months."

Production and operational figures for the period and full year:
                     UoM      Q4 2024  Q4 2023  Growth,  Year       Year       Growth,  
                                                
± %     
31/12/24  
31/12/23  
± %     
 Ore mined           tons     209 745  184 162  13.9%    750 045    701 465    6.9%     
 Gold grade          g/ton    2.05     2.05     0.0%     2.10       2.01       4.5%     
 Contained gold      ounces   13 795   12 135   13.7%    50 739     45 270     12.1%    
 Ore milled          tons     147 018  150 293  -2.2%    593 612    591 975    0.3%     
 Gold grade          g/ton    2.26     2.32     -2.6%    2.29       2.08       10.1%    
 Contained gold      ounces   10 708   11 188   -4.3%    43 644     39 607     10.2%    
 Gold poured         ounces   9 376    9 632    -2.7%    37 279     33 110     12.6%    
 Recovery            %        87.6%    86.1%    1.7%     85.4%      83.6%      2.2%     
 Gold sold*          ounces   11 349   9 150    24.0%    38 708     32 765     18.1%    
 Av. realised price  $/ounce  2 641    1 962    34.6%    2 812      1,967      43.0%    
 Revenues            US$m     30.3     18.2     66.5%    94.5       64.4       46.7%    
 Safety metrics      cases    -        -        -        -          -          -        


*Being gold produced adjusted for stock.

Production and Operational highlights

Mining and development

Q4 2024 production volumes increased by 13.9% YoY to 209Kt, exceeding an
annualised run rate of 800kt. The positive momentum is expected to continue in
2025 with a target annual production of 1Mt in line with the newly expanded
processing plant capacity.

Major capital tunnelling works during the quarter amounted to 829 linear
metres, a 32% increase from Q4 2023.

The tailing storages were expanded in line with the increase in the processing
volumes.

Processing and plant update

Due to extensive work at the processing plant facilities, Q4 2024 milled ore
production declined by 2.2% YoY. Despite this, the Company has kept
interruptions to a minimum, with production marginally up for the year at
594K.

A major milestone was achieved in December 2024 with the commissioning of the
third production line, increasing total processing capacity to 1Mtpa. From
January 2025, the upgraded plant is expected to process 83Kt per month, with
monthly gold output projected at approximately 140kg (4,350oz).

Output and revenue

Q4 2024 recovery rate expanded to 87.6% from 86.1% a year ago as a result of
upgraded equipment and enhanced processes. The gold grade witnessed some
volatility induced by mixing stockpiled ore over the year. As a result, in Q4
2024, the grade declined to 2.26 g/t versus 2.32 g/t in Q3 2024.

For the full year, gold grade averaged 2.29g/t, up from 2.08g/t in 2023. The
recovery and grade movements combined resulted in 12.6% YoY growth in gold
poured to 37.3/koz.

For Q4 2024, gold poured declined 2.7% YoY to 9.4koz due to the slightly lower
grade.

The average gold price achieved for the quarter was 34.6% higher at US$2,641.
Quarterly revenues reached an all time high of $30.3m up 66.4%. Similarly,
positive price and volume dynamics increased annual revenues to $94.5m up 46.1
% YoY.

Safety metrics

The Company is proud to report its fourth consecutive zero-incident year of
operations. Through continuous training, stringent safety measures, and a
strong safety culture, the Company remains committed to achieving its zero
fatalities target while ensuring a safe work environment for all employees.

Looking forward

With the enhanced production facilities now in place, the Company’s primary
focus in 2025 will be ensuring that the Sekisovskoye site operates to its full
potential. A detailed mining plan has been developed to ensure controlled
development and maximum exploitation of the ore bodies.

The Teran-Sai project is progressing according to the work program agreed with
mining authorities. During this period, particular attention has been directed
towards two significant deposits in area 5.

The Company will continue to explore additional opportunities to maximise
shareholder value and support a long-term sustainable growth strategy.

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=54191516&newsitemid=20250126833336&lan=en-US&anchor=www.altyngold.uk&index=1&md5=e2ee57926daedc9927295c4f8850c455)



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