Last checked at 16 May 2022 07:00
AltynGold Plc("AltynGold" or the "Company")First quarter 2022 production update
AltynGold is pleased to announce its 1Q22 production update.
Highlights:
Revenues soared 42.9% yoy, the average gold price has increased from the prior period but a significant factor in the increase was the rise in output and grades achieved in the period.Despite severe weather conditions, the company was able to increase mining production by 2% yoy from 131.7kt to 134.5kt.Higher milled ore up 14% yoy and improved grades at 2.03g/t in 1Q22 versus 1.78g/t in 1Q21 resulted in 26% yoy increase in poured gold. The Company expects further grade improvement in the upcoming quarters following the purchase of new equipment.During 1Q22 the Company was not impacted by any COVID-19 related issues. While Kazakhstan authorities lifted restrictions, the management of the Company continues to closely monitor the situation.
|
| 1Q20 | 1Q21 | 1Q22 |
Ore mined | tons | 92,324 | 131,733 | 134,461 |
Contained gold | ounces | 4,376 | 7,462 | 8,841 |
Ore milled | tons | 92,909 | 132,834 | 151,431 |
Average gold grade | gr/tone | 1.49 | 1.78 | 2.03 |
Gold poured | ounces | 3,380 | 6,272 | 8,129 |
Revenue | USD m | 4.58 | 10.06 | 14.38 |
An update in relation to the annual results and details of the 2022 Annual General Meeting will be released shortly.
Further Information:
For further information please contact:
AltynGold PlcRajinder Basra+44 (0) 203 432 3198
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
AltynGold Plc (LSE:ALTN) is an exploration and development company, which is listed on the main market segment of the London Stock Exchange.
To read more about AltynGold Plc please visit our website www.altyngold.uk
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