REG-Altyn Plc Production and financing update

AltyngoldAnnouncement

09/06/2020 07:00

Production and financing update

 

9th June 2020

Altyn Plc

("Altyn" or the "Company")

Production and financing update

Altyn is pleased to announce that the positive momentum is being maintained in production growth in 2Q20 with an annualised monthly run rate of ~600kt/year being achieved in April and May, which is more than a 60% growth based on the run rate quarter on quarter.

Gold recovery grades are also improving and exceeding the budgeted targets for the period.

As previously disclosed, further equipment is scheduled to be delivered in Q320 which will further strengthen our fleet and solidify the current positive dynamics in terms of higher production and reduced grade dilution.

With respect to the Astana Stock Exchange bond issue, the company has so far raised USD 3.2 million out of USD 10 million maximum. The Company is seeing a pickup in interest from investors. As part of the bond placement agreement, Altyn is issuing stock options (exercisable by 1st October 2020) to the sole manager JSC Freedom Finance for 154,028,981 shares upon full placement by the end of June 2020.

Further Information:

For further information please contact:

Altyn 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 

Altyn 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.altyn.uk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200608005710/en/

Altyn Plc