Last checked at 12 Oct 2021 07:00
AltynGold Plc("AltynGold" or the "Company")Third quarter production results
AltynGold is pleased to announce its 3Q21 production results.
Highlights:
The quantity of contained gold increased by over 15.3% QoQ. Our team is working on further improving the quantity of contained gold in the upcoming quarters.The Company maintained its positive momentum in production growth with mined ore production up 11.2% QoQ to 149,998 tons. The annualized run rate achieved during the quarter reached another milestone of ~600kt/year. Mined ore production increased 2.6% with no technical interruptions.Average grade improved 4.5% QoQ from 1.98g/t to 2.07g/t. The Company is working on further grade improvement towards 2.2g/t over the coming quarters.While facing headwind from declining gold prices, revenues were marginally up on strong production dynamics.The Company is actively continuing the development of Teren-Sai deposit. The reserves estimate is currently being measured in accordance with the State Reserves Committee of Kazakhstan, upon which the analysis will be forwarded to the appropriate government body. This will enable the Company progress towards its next phase of operations and start production at the Area No. 2 in 2024.On COVID-19 update, even with the precautionary procedures required by the local authorities, the Company had no interruptions on its production operations or any other negative effect during the quarter. All operational processes continued at a regular pace and the Company provides comprehensive assistance in the voluntary vaccination of its employees. The health and safety of our employees is the top priority of the Company.
|
|
| 1Q21 |
| 2Q21 |
| 3Q21 | |
Ore mined | tons |
| 131,733 |
| 134,874 |
| 149,998 | |
Contained gold | ounces |
| 7,462 |
| 8,442 |
| 9,732 | |
Ore milled | tons |
| 132,834 |
| 129,910 |
| 133,291 | |
Average gold grade | gr/tone |
| 1.78 |
| 1.98 |
| 2.07 | |
Gold poured | ounces |
| 6,272 |
| 6,794 |
| 7,440 | |
Revenue | USD m |
| 10.06 |
| 12.72 |
| 12.80 |
Further Information:For further information please contact:
AltynGold PlcRajinder Basra+44 (0) 207 932 2455
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 CompanyAltynGold 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 Altyn Plc please visit our website www.altyngold.uk.
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