Q1 production results

LONDON--()-- 

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

Short Name: Altyn Plc
Category Code: MSCL
Sequence Number: 699304
Time of Receipt (offset from UTC): 20200508T153614+0100

Contacts

Altyn Plc

Contacts

Altyn Plc