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.
Looking forward, company expects further grade improvement as a result of purchasing new equipment. Adds it is monitoring the lifting of Covid-19 restrictions in Kazakhstan.
Current stock price: 125.98 pence
12-month change: down 21%
By Heather Rydings; heatherrydings@alliancenews.com
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Altyngold (ALTN)