2nd quarter results
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
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Altyn Plc