AltynGold reports "another strong" quarter as gold price climbs

(Alliance News) - AltynGold PLC on Friday reported that its revenue more than doubled for the first quarter, and said it remains confident in the full-year outlook.

The Kazakhstan-focused gold exploration and development company said ore mined increased 2.1% to 212,595 tonnes in the first quarter of this year, from 208,216 tonnes the year before. Ore milled increased 15% to 234,625 tonnes from 204,647 tonnes.

Revenue more than doubled to USD56.3 million from USD25.3 million, "supported by higher sales volumes and strong gold prices."

The average realised price of gold increased 70% to USD4,809 per ounce from USD2,831. Gold sold increased 29% to 11,532 ounces from 8,943 ounces.

"AltynGold has begun 2026 strongly, with mining and processing volumes up, gold sales rising, and revenues more than doubling year-over-year," commented Chief Executive Officer Aidar Assaubayev. "Sekisovskoye's sustained performance highlights the strength of our operating platform and the dedication of our on-site team."

The Sekisovskoye deposit, in Eastern Kazakhstan, is AltynGold's flagship producing asset. The project's processing plant now operates at its maximum capacity of 1 million tonnes per annum, and AltynGold said it is advancing plans for a second-stage expansion to 2Mtpa.

Looking ahead, AltynGold stated: "With stable production, improved grades, and strong gold prices, AltynGold remains confident in its outlook for the remainder of 2026."

"We remain committed to achieving our 2026 targets, supported by continued investment in operational capabilities," CEO Assaubayev added. "Additionally, we are advancing plans to expand our mining and processing capacities and will soon share updates on the next stage of growth initiatives at Sekisovskoye."

Shares in AltynGold were 1.9% higher at 1,065.00 pence in London on Friday.

By Emma Curzon, Alliance News reporter

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