Last checked at 1 Feb 2021 07:00
AltynGold Plc
("Altyn" or the "Company")
Quarter Four 2020 production update
AltynGold is pleased to announce its 4Q20 production update.
Highlights:
Revenues increased significantly by 92% quarter-over-quarter mainly driven by higher gold production, which soared by 88% quarter-over-quarter.Planned maintenance was successfully completed on time in 3Q20, this allowed for uninterrupted production in 4Q20. As a result, growth of milled ore production increased 52% quarter-over-quarter.Average grade improved by 10% quarter-over-quarter from 1.55g/t to 1.70g/t. The Company expects further grade improvement in the upcoming quarters.The Company is continuing with the development, drilling and exploration programs at Teren-Sai which are looking positive. Updates in relation to these will be given once the data is analysed and processed.Regarding COVID-19, during the quarter, the Company did not experience any significant negative effect on its production operations as the infection rate remains stable. As such, all mining and processing activities continued at a regular pace, subject to the restraints of the weather during this period. The management continues to closely monitor the situation and is cooperating with the relevant authorities. The safety of our workforce remains management’s highest priority.
|
| 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Ore mined | tons | 92,324 | 143,400 | 134,715 | 135,611 |
Contained gold | ounces | 4,376 | 6,930 | 6,794 | 7,456 |
Ore milled | tons | 92,909 | 94,057 | 92,567 | 140,723 |
Average gold grade | gr/tone | 1.49 | 1.50 | 1.55 | 1.70 |
Gold poured | ounces | 3,380 | 3,610 | 3,492 | 6,547 |
Revenue | USD m | 4.58 | 4.58 | 6.31 | 12.09 |
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 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 Altyn Plc please visit our website www.altyngold.uk
View source version on businesswire.com: https://www.businesswire.com/news/home/20210131005049/en/
Copyright Business Wire 2021