REG-AltynGold Plc 1st Quarter Results

AltyngoldAnnouncement

07/05/2024 07:00

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1st Quarter Results

 

AltynGold Plc

("AltynGold" or the "Company")

First Quarter 2024 production update

AltynGold is pleased to announce its 1Q2024 production update.

Production volumes were strong with both mined and milled ore increasing 11%
YoY to 154.8kt and 129.7kt respectively.

Gold grade increased to 2.17g/t. The improvement is driven by positive mix
effect from accumulated stock piles as well as grade recovery from underlying
operations which increased to 2.08g/t from 1.92g/t in 1Q23. As a result,
volume of gold poured expanded 25% YoY to 7,370/oz.

Revenues for the quarter increased 41% YoY to US$15.7m primarily on stronger
sales which expanded 28% YoY to 7,546/oz (1Q2023: 5,902/oz). The average
selling price also increased 10% YoY to $2,083/oz (1Q2023: US$1,889/oz) in
line with positive momentum in gold price globally.

The processing plant expansion is progressing well and in line with budget.

Details of the key production figures for the quarter are shown below:
                             1Q2024   1Q2023   
 Ore mined           tons    154,824  139,837  
 Ore milled          tons    129,705  117,235  
 Contained gold      ounces  10,354   8,869    
 Gold poured         ounces  7,370    5,884    
 Average gold grade  g/ton   2.17     1.92     
 Revenues            US$m    15.7     11.15    


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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.altyngold.uk&esheet=53972962&newsitemid=20240506936228&lan=en-US&anchor=www.altyngold.uk&index=1&md5=a350b46a2d7d6ec5f83edb9311e684a8)



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AltynGold Plc


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