ALTYN PLC: 2nd quarter results
July 19 2021 - 1:00AM
UK Regulatory
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
+44 (0) 207 932 2455
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/
CONTACT:
Altyn Plc
SOURCE: Altyn Plc
Copyright Business Wire 2021
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