ALTYN PLC: 3rd Quarter Results

TIDMALTN 
 

AltynGold Plc

("AltynGold" or the "Company")

Third quarter production results

AltynGold is pleased to announce its 3Q21 production results.

Highlights:

   -- The quantity of contained gold increased by over 15.3% QoQ. Our team is 
      working on further improving the quantity of contained gold in the 
      upcoming quarters. 
 
   -- The Company maintained its positive momentum in production growth with 
      mined ore production up 11.2% QoQ to 149,998 tons. The annualized run 
      rate achieved during the quarter reached another milestone of 
      600kt/year. Mined ore production increased 2.6% with no technical 
      interruptions. 
 
   -- Average grade improved 4.5% QoQ from 1.98g/t to 2.07g/t. The Company is 
      working on further grade improvement towards 2.2g/t over the coming 
      quarters. 
 
   -- While facing headwind from declining gold prices, revenues were 
      marginally up on strong production dynamics. 
 
   -- The Company is actively continuing the development of Teren-Sai deposit. 
      The reserves estimate is currently being measured in accordance with the 
      State Reserves Committee of Kazakhstan, upon which the analysis will be 
      forwarded to the appropriate government body. This will enable the 
      Company progress towards its next phase of operations and start 
      production at the Area No. 2 in 2024. 
 
   -- On COVID-19 update, even with the precautionary procedures required by 
      the local authorities, the Company had no interruptions on its production 
      operations or any other negative effect during the quarter. All 
      operational processes continued at a regular pace and the Company 
      provides comprehensive assistance in the voluntary vaccination of its 
      employees. The health and safety of our employees is the top priority of 
      the Company. 
 
                                 1Q21     2Q21     3Q21 
Ore mined              tons       131,733  134,874  149,998 
Contained gold         ounces     7,462    8,442    9,732 
Ore milled             tons       132,834  129,910  133,291 
Average gold grade     gr/tone    1.78     1.98     2.07 
Gold poured            ounces     6,272    6,794    7,440 
Revenue                USD m      10.06    12.72    12.80 
 

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 Altyn Plc please visit our website www.altyngold.uk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005646/en/

 
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Altyn Plc

 
    SOURCE: Altyn Plc 
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October 12, 2021 02:00 ET (06:00 GMT)