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Third quarter productions results and financial update

LONDON--(BUSINESS WIRE)-- 

Altyn plc (“Altyn” or the “Company”), is pleased to announce its third quarter production results.

Highlights:

  • The company has been granted a supplementary credit line of KZT 3bn (~USD 7m) from Kazakh Bank JSC “Bank Center Credit” (BCC). The loan is repayable in instalments over a term of five years and bears an interest rate of 6%. The loan will be used to increase processing plant output in line with the company’s plans.
  • Revenues increased significantly, up 38% quarter on quarter (qoq) driven by higher gold prices and the claw back of accruals relating to timing differences of the sale of production to the refinery from the previous quarter.
  • Average grade increased by 3.3% qoq. The Company expects further improvement in grades over the coming quarters given the ongoing mining and reserves uncovering works.
  • Delivery of a JSB crawler excavator with a bucket capacity of 1.8 cu. m, equipped with a buoyancy machine. The equipment will be used for loading ore on portals 1 and 2 and crushing oversized ore.
  • Regarding the COVID-19 situation, the Company has put additional measures in place to ensure the health and safety of its personnel. There continues to be minimal impact on the production operations of the Company, however management will continue to closely monitor the situation while cooperating with the relevant authorities.

 

 

3Q20

2Q20

1Q20

Ore mined

tons

134,715

143,400

92,324

Contained gold

ounces

6,794

6,930

4,376

Ore milled

tons

92,567

94,057

92,909

Average gold grade

gr/tone

1.55

1.50

1.49

 

 

 

 

 

Gold poured

ounces

3,492

3,610

3,380

Revenue

USD m

6.31

4.58

4.58

For further information please contact:
Altyn plc
Rajinder Basra, CFO +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 Information on the Company

Altyn Plc (LSE:ALTN) is an exploration and development company, which is listed on the main segment of the London Stock Exchange. To read more about Altyn Plc please visit our website www.altyn.uk

Contacts

Altyn Plc

Altyn Plc

LSE:ALTN
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Contacts

Altyn Plc

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