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11 May 2020 07:00
11 May 2020
Altyn Plc("Altyn" or the "Company")
Altyn's production up 130% year on year
Altyn is pleased to announce significant production increase in 1Q2020.
Highlights:
Production up a significant 130% year-over-year spurred by new equipment deliveries with 92,324 tons of ore mined in 1Q2020 (40,171 tons in 1Q2019). The positive momentum in production growth is expected to be maintained over the coming quarters.
Revenues are up 152% year-over-year given increased gold production and higher gold prices.
Average grade came above our internal budgets (1.49 vs. 1.43 g/t). Significant capital and horizontal development are being currently undertaken at the mine which should substantially reduce dilution and increase grades in line with our 2020 budget.
Regarding COVID 19 pandemic, the health and safety of our personnel remain our absolute priority while ensuring the continuity of our operations. At present there is minimal impact on the operations and we are closely monitoring the situation while cooperating with relevant authorities.
1Q19 | 1Q20 | ||||
Ore mined | tons | 40,171 | 92,324 | ||
Contained gold | ounces | 2,775 | 4,376 | ||
Ore milled | tons | 46,257 | 92,909 | ||
Average gold grade | g/ton | 2.00 | 1.49 | ||
Gold poured | ounces | 2,547 | 3,380 | ||
Revenue | USD m | 3.01 | 4.58 |
Further Information:For further information please contact:
Altyn PlcRajinder Basra+44 (0) 207 932 2456
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
Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.
To read more about Altyn Plc please visit our website www.altyn.uk
View source version on businesswire.com: https://www.businesswire.com/news/home/20200510005008/en/
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