REG-Altyn Plc 2nd quarter results

AltyngoldAnnouncement

19/07/2021 07:00

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2nd quarter results

 

AltynGold Plc

("AltynGold" or the "Company")

Second quarter production results

AltynGold is pleased to announce its 2Q21 production results

Highlights:


 * Average grade improved significantly by more than 11% quarter-over-quarter
from 1.78g/t to 1.98g/t. The Company is working on further grade improvements
in the upcoming quarters.

 * The quantity of contained gold increased by more than by 13%
quarter-over-quarter. The Company expects further increases over the coming
quarters.

 * Revenues increased by more than 26% quarter-over-quarter despite a fall in
gold prices during last month, the increase was mainly driven by higher gold
grades achieved.

 * The Company has demonstrated a solid performance in production during the last
three consecutive quarters. As a result, mined ore production went up by
almost 3% quarter-over-quarter and milled ore production remained stable.
During the period there were no maintenance or technical interruptions.

 * The Company is continuing with the development at Teren-Sai and will provide
updates on the outcomes once the data from the drilling and exploration is
fully analysed. The preliminary derived results are looking promising and
prospective.

 * In relation to COVID-19, even with the strict precautionary procedures
implemented, the Company did not have interruptions of its production
operations or experience any other negative effects during the quarter. There
were no active cases of COVID-19 as at 1 July 2021 across the Company and all
operational processes continued at a regular pace. The Company is providing
comprehensive assistance in the voluntary vaccination of its employees. The
health and safety of the employees is the top priority of the Company.
                              1Q21     2Q21     
 Ore mined           tons     131,733  134,874  
 Contained gold      ounces   7,462    8,442    
 Ore milled          tons     132,834  129,910  
 Average gold grade  gr/tone  1.78     1.98     
 Gold poured         ounces   6,272    6,794    
 Revenue             USD m    10.06    12.72    


Further Information:

For further information please contact:

AltynGold Plc

Rajinder Basra

+44 (0) 207 932 2455

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.altyngold.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=52461691&newsitemid=20210718005015&lan=en-US&anchor=www.altyngold.uk&index=1&md5=4f23db68d12911689dd586c7ea27be1a)



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Altyn Plc


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