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Drilling/Production Report

LONDON--(BUSINESS WIRE)-- 

AltynGold Plc

("AltynGold" or the "Company")

Fourth quarter 2023 production update

AltynGold is pleased to announce its 4Q2023 production update.

Full-year 2023 volume of mined ore increased 33% with annualised 4Q23 production running at 737kt/y.

Gold grade steadily recovered during the year, increasing from 1.90g/t in 1Q23 to 2.32g/t in 4Q2023. Full-year average grade was 2.08g/t.

As mentioned in prior updates, volume of processed ore was affected by the ongoing plant expansion. Full-year volume of milled ore increased 1.1% while poured gold declined 2.7%. The processing plant upgrade is now expected to be completed in 3Q24.

Full-year total revenue increased 2.7% to $63.7m on higher average gold price in 2023.

Details of the key production figures for the quarter and the full year are shown below:

 

 

4Q2023

4Q2022

Year 31/12/2023

Year 31/12/2022

Ore mined

tons

184,162

118,629

701,465

527,231

Ore milled

tons

150,293

125,321

591,975

585,480

Contained gold

ounces

16,851

9,340

45,270

36,835

Gold poured

ounces

9,632

8,259

33,110

34,023

Average gold grade

g/ton

2.32

2.49

2.08

2.17

Revenues

US$m

18.0

14.5

63.7

62.0

Further Information:

For further information please contact:

AltynGold Plc
Rajinder Basra
+44 (0) 203 432 3198

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

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

Category Code: DRL
Sequence Number: 1210066
Time of Receipt (offset from UTC): 20240223T122129+0000

Contacts

AltynGold Plc

AltynGold Plc

LSE:ALTN
Release Versions
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Contacts

AltynGold Plc

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