(Sharecast News) - Altyn updated the market on the expansion of the tailing storage facility at the Sekisovskoye Gold Processing Plant on Tuesday, reporting that the design of the construction of the fourth section was nearing completion.
The AIM-traded firm said the construction work was planned to start in the second quarter of 2021 as soon as the required permits and approvals from state supervision authorities were obtained.
As such, an additional storage facility would be built for stowing more than one million cubic metres of tailing solids, which should allow "uninterruptible operation" of the gold processing plant until 2024.
"Furthermore, preliminary design work on the construction of section five of the tailings storage facility has commenced," the board said in its statement.
"It is expected that this will be commissioned in 2023 which will ensure the continuity in operation of the gold processing plant after 2024."
At 0818 BST, shares in Altyn were up 9.14% at 2.15p.
Altyngold (ALTN)26 Apr 2024 20:59
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