ALTN Altyngold Plc

TIDMALTN 
 
 

11 May 2020

Altyn Plc

("Altyn" or the "Company")

Altyn's production up 130% year on year

Altyn is pleased to announce significant production increase in 1Q2020.

Highlights:

Production up a significant 130% year-over-year spurred by new equipment deliveries with 92,324 tons of ore mined in 1Q2020 (40,171 tons in 1Q2019). The positive momentum in production growth is expected to be maintained over the coming quarters.

Revenues are up 152% year-over-year given increased gold production and higher gold prices.

Average grade came above our internal budgets (1.49 vs. 1.43 g/t). Significant capital and horizontal development are being currently undertaken at the mine which should substantially reduce dilution and increase grades in line with our 2020 budget.

Regarding COVID 19 pandemic, the health and safety of our personnel remain our absolute priority while ensuring the continuity of our operations. At present there is minimal impact on the operations and we are closely monitoring the situation while cooperating with relevant authorities.

 
                               1Q19    1Q20 
Ore mined            tons      40,171  92,324 
Contained gold       ounces    2,775   4,376 
Ore milled           tons      46,257  92,909 
Average gold grade   g/ton     2.00    1.49 
Gold poured          ounces    2,547   3,380 
Revenue              USD m     3.01    4.58 
 

Further Information:

For further information please contact:

Altyn Plc

Rajinder Basra

+44 (0) 207 932 2456

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

Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the standard segment of the London Stock Exchange.

To read more about Altyn Plc please visit our website www.altyn.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20200510005008/en/

 
    CONTACT: 

Altyn Plc

 
    SOURCE: Altyn Plc 
Copyright Business Wire 2020 
 

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May 11, 2020 02:00 ET (06:00 GMT)

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