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Share Price: 125.00

Bid: 124.00

Ask: 135.00

Change: 6.50 (5.28%)

Spread: 11.00 (8.871%)

Open: 125.00

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Gold Miner Altyn Secures Milestone USD17 Million Bank Loan

Wed, 11th Sep 2019 11:35

(Alliance News) - Kazakhstan-focused gold miner Altyn PLC on Wednesday said a USD17 million loan from Kazakh Bank JSC has been approved.

Shares were 10% higher on Wednesday morning at 0.76 pence each.

The loan is repayable in instalments over seven years, and has an annual interest rate of 6%. The money will be used to ramp up output at the Sekisovskoye mine in western Kazakhstan, and also help development work.

Chief Executive Aidar Assaubayev said: "The aim has always been to obtain the necessary finance at terms that are competitive and in the best interest of shareholders.

"After exploring a number of opportunities and an extensive due diligence period, we are very pleased to update our shareholders on the funding received. This funding will, I am confident, provide a springboard for future growth."

More News

17 Apr 2024 14:25

IN BRIEF: AltynGold shares up as processing plant progresses to plan

AltynGold PLC - London-based exploration and development company with assets in Kazakhstan - Announces expansion of processing plant at Sekisovskoye is progressing as scheduled. Notes that excess mined ore is being added to stock piles. Says infrastructure works are largely completed apart from the installation of the grinding mill. Expects operational start in the third quarter of 2024, which "will be a key milestone" in the company's development and growth strategy, it says.

12 Apr 2024 16:41

IN BRIEF: AltynGold contract in Kazakhstan extended by two years

AltynGold PLC - London-based exploration and development company - Reports its Teren-sai subsoil exploration contract, based in the Teren-sai deposit in Kazakhstan, has been granted an additional two-year term, to perform exploration works until March 2026. A competent persons report in 2019 estimated 1.5 million ounces of mineral resources in the area, confirmed by drilling. Says original exploration area consequently narrowed to specific target zones. Open-pit production will commence as soon as sufficient data from further exploration activities has been gathered.

28 Feb 2024 21:18

TRADING UPDATES: AltynGold revenue up on higher gold price

(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:

25 Oct 2023 21:55

TRADING UPDATES: Gran Tierra completes offers, Pensana wins grant

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News:

29 Sep 2023 17:14

EARNINGS: St Mark Homes loss widens; abrdn Property maintains payout

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

19 Jun 2023 11:08

AltynGold gold grades down in first quarter despite production rise

(Alliance News) - AltynGold PLC on Monday said gold grades were down in the first quarter as revenue also fell.

28 Apr 2023 18:26

EARNINGS UPDATES: Fidelity Special NAV up; Ferro-Alloy loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

17 Mar 2023 20:53

TRADING UPDATES: Petra Diamonds sells more diamonds amid price growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Augmentum Fintech and Tap Global on Monday, and not separately reported by Alliance News:

5 Dec 2022 11:17

AltynGold secures loan from Kazakh bank to expand mining capacity

(Alliance News) - AltynGold PLC on Monday announced that it has secured an additional credit line from JSC Bank CenterCredit, which will be used to increase production and processing capacity at its Sekisovskoye mine.

18 Nov 2022 07:56

IN BRIEF: AltynGold posts quarterly revenue fall due to low gold price

AltynGold PLC - London-based gold mining company with assets in Kazakhstan - On November 10 says revenue falls 16% to USD14.7 million in the third quarter of 2022, from USD17.6 million in the second quarter. This is due to a lower average selling price of gold. Expects gold price to fluctuate around the current levels of around USD1,700 an ounce.

26 Sep 2022 20:22

TRADING UPDATES: AltynGold, Rambler Metals & Mining revenue grows

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

2 Aug 2022 08:32

IN BRIEF: AltynGold says on track for another strong year

AltynGold PLC - London-based gold mining company with assets in Kazakhstan - On Monday says revenue up 22% to USD17.6 million in the second quarter of 2022 from USD14.4 million in the first quarter, on increased gold production and higher average selling price. Says mined ore production increases 6.3% to 142,937 tonnes from 134,461 tonnes a quarter ago, while milled ore production is up 2.5% to 155,168 tonnes from 151,431 tonnes.

26 Jul 2022 07:46

IN BRIEF: AltynGold agrees USD40 million bank loan for Sekisovskoye

AltynGold PLC - London-based gold mining company with assets in Kazakhstan - Says application for an a total of USD40 million credit line from Kazakh Bank JSC has been approved. Says the loan is repayable in instalments over six and a half years, and has a 6% interest rate. AltynGold says it will be used to "expand the capacity of the processing plant to 1 [million tonnes per annum] in anticipation of the expected increase in mining production at Sekisovskoye."

27 Jun 2022 12:17

IN BRIEF: AltynGold annual revenue rises on increase in production

AltynGold PLC - London-based gold mining company with assets in Kazakhstan - Posts surge in profit in 2021. Pretax profit jumps to USD18.3 million from USD3.3 million in 2020. Revenue surges to USD50.3 million from USD30.0 million.

17 May 2022 05:50

IN BRIEF: AltynGold ups quarterly revenue despite severe weather

AltynGold PLC - London-based gold mining company with assets in Kazakhstan - Revenue in the first quarter of 2022 soars 43% to USD14.4 million from USD10.1 million the previous year. Despite severe weather conditions, company increases mining production by 2.1% to 134,461 tonnes from 131.733 tonnes and ores milled by 14% to 151,431 tonnes from 132,834 tonnes. Contained gold increases 18% to 8,841 ounces from 7,462 ounces. Average gold grade improves to 2.03 grams per tonne from 1.78 grams per tonne. Gold poured leaps 30% to 8,129 ounces from 6,272 ounces.

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Gold Miner Altyn Secures Milestone USD17 Million Bank Loan

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