In This Article:
LONDON, February 26, 2024--(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
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Contacts
AltynGold Plc