9th Dec 2020 06:58
Altyn PLC - UK-based exploration and development mining company that operates in Kazakhstan - Reports USD6.3 million revenue in its third quarter, up 38% from USD4.6 million in its first and second quarters, driven by higher gold prices and accruals relating to timing differences of the sale of production to the refinery from the previous quarter.
Altyn said the average grade increased by 3.3% quarter-on-quarter, and it expects further improvement in grades over the coming quarters given the ongoing mining and reserves uncovering works. It also received a loan of KZT3 billion, or USD7 million, from Kazakh Bank JSC, which will be used to increase processing plant output.
Current stock price: 114.25 pence
Year-to-date change: up 123%
By Zoe Wickens; [email protected]
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