ALTYN PLC: Altyn Plc - Production update

TIDMALTN 
 
 

16 March 2020

Altyn Plc

("Altyn" or the "Company")

Production update

Altyn Plc is pleased to announce that significant progress has been achieved in the acquisition of mining equipment following the recent debt raising by the Company.

In summary the following major items of equipment have been delivered to the mine site at Sekisovskoye during 2020:

- Front-end loader ZL 50G

- Dump truck 25 t Chacman

- Material Handling Trucks CAT R1300 - 3 units

- Underground haulers CAT AD30 - 3 units

In addition to the above the following equipment is on order with an expected delivery date in May 2020, this includes the following:

- Face drilling rig Atlas Copco T1D

- Ring drilling rig Atlas Copco T1D

- Exploration Drilling Rig Atlas Copco Diamec U4

With the current equipment now on site production has been steadily increasing with a monthly run rate of 29,000t being achieved in February, (February 2019: 10,185t) a significant increase from the prior year.

Production is budgeted to further increase once the second batch of equipment is received in May 2020, with management targeting to increase the run rate to approximately 45,000t a month in Q4 2020. The Company will release further updates as plans progress.

Further Information:

For further information please contact:

Altyn Plc

Rajinder Basra

[phone]

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/20200316005073/en/

 
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    SOURCE: Altyn Plc 
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March 16, 2020 03:00 ET (07:00 GMT)