REG-AltynGold Plc 6 months production update

AltyngoldAnnouncement

15/07/2024 07:00

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6 months production update

 

AltynGold Plc

("AltynGold" or the "Company")

First Half 2024 production update

AltynGold is pleased to announce its 1H24 production update.

Revenues for 1H24 increased 37% YoY to US$38.0m primarily on stronger sales
which expanded 21% YoY to 17,247oz (1H2023: 14,284oz). The average selling
price also increased 14% YoY to $2,203/oz (1H23: US$1,939/oz) in line with
positive momentum in gold price globally.

Production volumes in 1H24 were broadly maintained while the processing plant
upgrade is being finalised (completion expected in 3Q24). Compared to 1Q24,
volume growth was strong with mined and milled ore up 16% and 15% QoQ from
154,8kt and 129.7kt respectively.

Gold grade increased to 2.30g/t. The improvement is driven by positive mix
effect from accumulated stock piles as well as grade recovery from underlying
operations which increased to 2.15g/t from 1.94g/t in 1H23 and 2.08g/t in
1Q24. Grade improvement and higher recovery rate resulted in 20% YoY growth in
gold poured to 17,413/oz.

Details of the key production figures are shown below:
                                      1H 2024  1H 2023  
 Ore mined                    tons    334,101  331,183  
 Contained gold in ore mined  ounces  23,045   20,737   
 Ore milled                   tons    279,251  280,155  
 Average gold grade           g/t     2.30     1.94     
 Gold produced                oz      20,589   17,433   
 Gold recovery                %       84.35    82.77    
 Gold poured                  oz      17,413   14,440   
 Gold sold                    oz      17,247   14,284   
 Revenues                     US$m    38.0     27.7     


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=54094059&newsitemid=20240714860807&lan=en-US&anchor=www.altyngold.uk&index=1&md5=9a3ab1fcbfcca0fd81f6e3d605b48372)



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AltynGold Plc


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