ALTYN PLC: AltynGold Plc Quarter Four 2020 production update

TIDMALTN 
 
 

AltynGold Plc

("Altyn" or the "Company")

Quarter Four 2020 production update

AltynGold is pleased to announce its 4Q20 production update.

Highlights:

   -- Revenues increased significantly by 92% quarter-over-quarter mainly 
      driven by higher gold production, which soared by 88% 
      quarter-over-quarter. 
   -- Planned maintenance was successfully completed on time in 3Q20, this 
      allowed for uninterrupted production in 4Q20. As a result, growth of 
      milled ore production increased 52% quarter-over-quarter. 
   -- Average grade improved by 10% quarter-over-quarter from 1.55g/t to 
      1.70g/t. The Company expects further grade improvement in the upcoming 
      quarters. 
   -- The Company is continuing with the development, drilling and exploration 
      programs at Teren-Sai which are looking positive. Updates in relation to 
      these will be given once the data is analysed and processed. 
   -- Regarding COVID-19, during the quarter, the Company did not experience 
      any significant negative effect on its production operations as the 
      infection rate remains stable. As such, all mining and processing 
      activities continued at a regular pace, subject to the restraints of the 
      weather during this period. The management continues to closely monitor 
      the situation and is cooperating with the relevant authorities. The 
      safety of our workforce remains management's highest priority. 
 
                               1Q20    2Q20     3Q20     4Q20 
Ore mined            tons      92,324  143,400  134,715  135,611 
Contained gold       ounces    4,376   6,930    6,794    7,456 
Ore milled           tons      92,909  94,057   92,567   140,723 
Average gold grade   gr/tone   1.49    1.50     1.55     1.70 
Gold poured          ounces    3,380   3,610    3,492    6,547 
Revenue              USD m     4.58    4.58     6.31     12.09 
 

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

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    SOURCE: Altyn Plc 
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February 01, 2021 02:00 ET (07:00 GMT)