1st Aug 2022 07:00
AltynGold Plc("AltynGold" or the "Company")Second quarter 2022 production update
AltynGold is pleased to announce its 2Q22 production update.
Highlights:
Revenues went up 22.2% quarter on quarter on increased gold production and higher average selling price.The company showed positive operational growth dynamics with mined and milled ore production increasing 6.3% and 2.5% quarter on quarter respectively.Contained gold rose 7.6% quarter on quarter to 9,510 ounces on higher grades which improved from 2.03g/t to 2.09g/t.
|
| 1Q22 | 2Q22 |
Ore mined | tons | 134,461 | 142,937 |
Contained gold | ounces | 8,841 | 9,510 |
Ore milled | tons | 151,431 | 155,168 |
Average gold grade | gr/tone | 2.03 | 2.09 |
Gold poured | ounces | 8,129 | 8,836 |
Revenue | USD m | 14.38 | 17.57 |
The CEO Aidar Assaubayev commented: “AltynGold is on track for another strong year. Production and grades are trending higher supporting increased revenues. The ensuing cash flows and the recently approved bank loan will provide the financing for the capacity expansion which will move the business to the next level”.
Further Information:For further information please contact:
AltynGold Plc[email protected] 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 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
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