REG-Altyn Plc AltynGold Plc Quarter Four 2020 production update

AltyngoldAnnouncement

01/02/2021 07:00

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AltynGold Plc Quarter Four 2020 production update

 

AltynGold Plc

("Altyn" or the "Company")

Quarter Four 2020 production update

AltynGold is pleased to announce its 4Q20 production update.

Highlights:


 * Revenues increased significantly by 92% quarter-over-quarter mainly driven by
higher gold production, which soared by 88% quarter-over-quarter.


 * Planned maintenance was successfully completed on time in 3Q20, this allowed
for uninterrupted production in 4Q20. As a result, growth of milled ore
production increased 52% quarter-over-quarter.


 * Average grade improved by 10% quarter-over-quarter from 1.55g/t to 1.70g/t.
The Company expects further grade improvement in the upcoming quarters.


 * The Company is continuing with the development, drilling and exploration
programs at Teren-Sai which are looking positive. Updates in relation to these
will be given once the data is analysed and processed.


 * Regarding COVID-19, during the quarter, the Company did not experience any
significant negative effect on its production operations as the infection rate
remains stable. As such, all mining and processing activities continued at a
regular pace, subject to the restraints of the weather during this period. The
management continues to closely monitor the situation and is cooperating with
the relevant authorities. The safety of our workforce remains management’s
highest priority.
                              1Q20    2Q20     3Q20     4Q20     
 Ore mined           tons     92,324  143,400  134,715  135,611  
 Contained gold      ounces   4,376   6,930    6,794    7,456    
 Ore milled          tons     92,909  94,057   92,567   140,723  
 Average gold grade  gr/tone  1.49    1.50     1.55     1.70     
 Gold poured         ounces   3,380   3,610    3,492    6,547    
 Revenue             USD m    4.58    4.58     6.31     12.09    


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 Altyn Plc please visit our website www.altyngold.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=52370757&newsitemid=20210131005049&lan=en-US&anchor=www.altyngold.uk&index=1&md5=a93e6b73cff7af8442c8f7baf082b253)



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Altyn Plc


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