REG-Altyn Plc Third quarter productions results and financial update

AltyngoldAnnouncement

08/12/2020 07:00

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Third quarter productions results and financial update

 

Altyn plc (“Altyn” or the “Company”), is pleased to announce its third
quarter production results.

Highlights:


 * The company has been granted a supplementary credit line of KZT 3bn (~USD 7m)
from Kazakh Bank JSC “Bank Center Credit” (BCC). The loan is repayable in
instalments over a term of five years and bears an interest rate of 6%. The
loan will be used to increase processing plant output in line with the
company’s plans.


 * Revenues increased significantly, up 38% quarter on quarter (qoq) driven by
higher gold prices and the claw back of accruals relating to timing
differences of the sale of production to the refinery from the previous
quarter.


 * Average grade increased by 3.3% qoq. The Company expects further improvement
in grades over the coming quarters given the ongoing mining and reserves
uncovering works.


 * Delivery of a JSB crawler excavator with a bucket capacity of 1.8 cu. m,
equipped with a buoyancy machine. The equipment will be used for loading ore
on portals 1 and 2 and crushing oversized ore.


 * Regarding the COVID-19 situation, the Company has put additional measures in
place to ensure the health and safety of its personnel. There continues to be
minimal impact on the production operations of the Company, however management
will continue to closely monitor the situation while cooperating with the
relevant authorities.
                              3Q20     2Q20     1Q20    
 Ore mined           tons     134,715  143,400  92,324  
 Contained gold      ounces   6,794    6,930    4,376   
 Ore milled          tons     92,567   94,057   92,909  
 Average gold grade  gr/tone  1.55     1.50     1.49    
                                                        
 Gold poured         ounces   3,492    3,610    3,380   
 Revenue             USD m    6.31     4.58     4.58    


For further information please contact:

Altyn plc

Rajinder Basra, CFO +44 (0) 207 932 2456

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 Information on the Company

Altyn Plc (LSE:ALTN) is an exploration and development company, which is
listed on the main segment of the London Stock Exchange. To read more about
Altyn Plc please visit our website www.altyn.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyn.uk&esheet=52344128&newsitemid=20201207005789&lan=en-US&anchor=www.altyn.uk&index=1&md5=501d409618d09c4e63b207b5b3999caa)



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Altyn Plc


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