Altyngold Regulatory News (ALTN)

28 June 2017

Altyn plc

('Altyn' or the 'Company')

 Result of AGM

Altyn plc (LSE: ALTN), is pleased to announce that its Annual Report and Accounts for the year ended 31 December 2016 were posted to shareholders. The Annual Report and Accounts is also available to view on the Company's website at www.altyn.uk.

The Company is also pleased to announce that all of the resolutions put forward at its Annual General Meeting held on 28 June 2017 were passed.

Chairman's Statement

At the Annual General Meeting the Chairman, Kanat Assaubayev, gave the following statement:

Ladies and gentlemen thank you for taking the time to attend the Altyn AGM.

Let me give you a brief overview and update you on current developments.

The project in relation to the Sekisovskoye mine is moving ahead as planned, with access to the portal completed and the processing plant operating with minor modifications, production is being extracted from ore body 5. Ore bodies 2 and 10 are currently being prepared for production to ensure a continuation of a reliable high grade ore feed into the processing plant. The initial capex requirement has been fulfilled but further capex and investment will be required in the forthcoming year as the underground mine is expanded.

In this regard, a great deal of work has been carried out in the background, with the Directors actively marketing the Company to obtain the necessary capital investment to take the project to the next stage of development. The actual level of funding is estimated based on current forecasted cash flows to be in the region of US$30m.

The Company is currently in discussion with a number of parties who have expressed an interest in financing the project. These parties have been supplied with detailed information and analysis in order to progress their appraisal of the project. We will of course advise shareholders as the discussions progress, and will of course move the investment forward on the most favourable terms that we can negotiate.

The principle assumptions underlying our modelling in relation to our current mine plan remain valid. The price of gold has remained stable and we do not anticipate any significant changes from the current price, however there are indications that the demand and price of gold may increase in the future, but even at current prices and our anticipated cash cost the project will generate a very good return.

In relation to Karasuyskoye area, the validation of the acquired geological data is continuing but the primary focus at the current time remains on Seki. Initial work undertaken at this site is encouraging, and I would remind shareholders this is a hidden gem for the future growth of the Company.

I will conclude by thanking our shareholders for their support and patience, and thanking our board and staff for their hard work.

National Storage Mechanism 

A copy of the resolutions approved at the Annual General Meeting has been submitted to the National Storage Mechanism, and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM. 

For further information please contact:

Altyn plc

Rajinder Basra

+44 (0) 207 932 2456