ALTYN PLC: AltynGold Plc Quarter Four 2020 production update
February 01 2021 - 2:00AM
UK Regulatory
TIDMALTN
AltynGold Plc
("Altyn" or the "Company")
Quarter Four 2020 production update
AltynGold is pleased to announce its 4Q20 production update.
Highlights:
-- Revenues increased significantly by 92% quarter-over-quarter mainly
driven by higher gold production, which soared by 88%
quarter-over-quarter.
-- Planned maintenance was successfully completed on time in 3Q20, this
allowed for uninterrupted production in 4Q20. As a result, growth of
milled ore production increased 52% quarter-over-quarter.
-- Average grade improved by 10% quarter-over-quarter from 1.55g/t to
1.70g/t. The Company expects further grade improvement in the upcoming
quarters.
-- The Company is continuing with the development, drilling and exploration
programs at Teren-Sai which are looking positive. Updates in relation to
these will be given once the data is analysed and processed.
-- Regarding COVID-19, during the quarter, the Company did not experience
any significant negative effect on its production operations as the
infection rate remains stable. As such, all mining and processing
activities continued at a regular pace, subject to the restraints of the
weather during this period. The management continues to closely monitor
the situation and is cooperating with the relevant authorities. The
safety of our workforce remains management's highest priority.
1Q20 2Q20 3Q20 4Q20
Ore mined tons 92,324 143,400 134,715 135,611
Contained gold ounces 4,376 6,930 6,794 7,456
Ore milled tons 92,909 94,057 92,567 140,723
Average gold grade gr/tone 1.49 1.50 1.55 1.70
Gold poured ounces 3,380 3,610 3,492 6,547
Revenue USD m 4.58 4.58 6.31 12.09
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 Altyn Plc please visit our website
www.altyngold.uk
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210131005049/en/
CONTACT:
Altyn Plc
SOURCE: Altyn Plc
Copyright Business Wire 2021
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