ALTYN PLC: 2nd quarter results

TIDMALTN 
 
 

AltynGold Plc

("AltynGold" or the "Company")

Second quarter production results

AltynGold is pleased to announce its 2Q21 production results

Highlights:

   -- Average grade improved significantly by more than 11% 
      quarter-over-quarter from 1.78g/t to 1.98g/t. The Company is working on 
      further grade improvements in the upcoming quarters. 
 
   -- The quantity of contained gold increased by more than by 13% 
      quarter-over-quarter. The Company expects further increases over the 
      coming quarters. 
 
   -- Revenues increased by more than 26% quarter-over-quarter despite a fall 
      in gold prices during last month, the increase was mainly driven by 
      higher gold grades achieved. 
 
   -- The Company has demonstrated a solid performance in production during the 
      last three consecutive quarters. As a result, mined ore production went 
      up by almost 3% quarter-over-quarter and milled ore production remained 
      stable. During the period there were no maintenance or technical 
      interruptions. 
 
   -- The Company is continuing with the development at Teren-Sai and will 
      provide updates on the outcomes once the data from the drilling and 
      exploration is fully analysed. The preliminary derived results are 
      looking promising and prospective. 
 
   -- In relation to COVID-19, even with the strict precautionary procedures 
      implemented, the Company did not have interruptions of its production 
      operations or experience any other negative effects during the quarter. 
      There were no active cases of COVID-19 as at 1 July 2021 across the 
      Company and all operational processes continued at a regular pace. The 
      Company is providing comprehensive assistance in the voluntary 
      vaccination of its employees. The health and safety of the employees is 
      the top priority of the Company. 
 
                               1Q21     2Q21 
Ore mined            tons      131,733  134,874 
Contained gold       ounces    7,462    8,442 
Ore milled           tons      132,834  129,910 
Average gold grade   gr/tone   1.78     1.98 
Gold poured          ounces    6,272    6,794 
Revenue              USD m     10.06    12.72 
 

Further Information:

For further information please contact:

AltynGold 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

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 AltynGold Plc please visit our website www.altyngold.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20210718005015/en/

 
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    SOURCE: Altyn Plc 
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(END) Dow Jones Newswires

July 19, 2021 02:00 ET (06:00 GMT)