ALTYNGOLD PLC: 3rd Quarter Results

TIDMALTN 
 

AltynGold Plc

("AltynGold" or the "Company")

Third quarter 2022 production update

AltynGold is pleased to announce its 3Q22 production update.

Highlights:

Ore mined normalised from the strong level achieved in 2Q22, while ore milled was in line with the average over 1H22 as the Company utilised its stockpiles to supply the processing plant.

Gold production at 8,799oz remained at the strong level achieved in 2Q22, supported by improving grades which increased to 2.11g/t.

Despite supportive operational dynamics, revenues declined quarter on quarter due to a lower average selling price of gold. The expectation for the reminder of the year is that the gold price will fluctuate around the current levels of around US$1,700oz.

 
                               1Q22     2Q22     3Q22 
Ore mined            tons      134,461  142,937  131,204 
Contained gold       ounces    8,841    9,510    9,144 
Ore milled           tons      151,431  155,168  153,560 
Average gold grade   gr/tone   2.03     2.09     2.11 
Gold poured          ounces    8,129    8,836    8,799 
Revenue              USD m     14.38    17.57    14.72 
 
 

Further Information:

For further information please contact:

[e-mail]

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/20221109005857/en/

 
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    SOURCE: AltynGold Plc 
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November 10, 2022 02:00 ET (07:00 GMT)