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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Altyngold Plc | LSE:ALTN | London | Ordinary Share | GB00BMH19X50 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.50 | -0.43% | 116.00 | 112.00 | 120.00 | 1,300 | 16:35:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 62.04M | 13.23M | 0.4841 | 2.41 | 31.84M |
TIDMALTN
AltynGold Plc
("AltynGold" or the "Company")
Third quarter 2023 production update
AltynGold is pleased to announce its 3Q2023 production update.
As noted in the interims, year to date processed ore volume was affected by the current plant upgrade. To mitigate disruptions, the management has streamlined workflows while works are ongoing. As a result, 3Q23 ore milled increased 4.3% yoy. The fully expanded 1mt/y capacity is expected to be operational by the end of 1Q24.
Following substantial investments in mining equipment, 3Q23 production expanded significantly to reach an annualised level of 744kt/y and a growth rate of 41.8% yoy. Excess ore is being stockpiled ahead of the processing plant upgrade.
Grades recovered to 2.12g/t in line with 3Q22 level. Year to date grades stood at 2.00g/t slightly below last year's average of 2.08g/t.
Revenues for the quarter increased 20.95% yoy to $17.9m on higher average gold price and expanded volumes with gold poured up 2.7% yoy.
Details of the key production figures for the quarter and year to date are shown below:
Year to Year to 3Q2023 3Q2022 date 2023 date 2022 Ore mined tons 186,120 131,204 517,303 408,602 Ore milled tons 161,527 154,817 441,682 461,416 Contained gold ounces 10,986 10,538 28,419 30,869 Gold poured ounces 9,038 8,799 23,478 25,764 Average gold grade g/ton 2.12 2.12 2.00 2.08 Revenues US$m 17.9 14.8 45.7 44.3
Further Information:
For further information please contact:
AltynGold Plc
Rajinder Basra
+44 (0) 203 432 3198
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
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/20231023542490/en/
CONTACT:
AltynGold Plc
SOURCE: AltynGold Plc Copyright Business Wire 2023
(END) Dow Jones Newswires
October 24, 2023 02:00 ET (06:00 GMT)
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