Business
1st Quarter Results
LONDON, May 12, 2025-- AltynGold Plc
About this update from Altyngold Plc
[{"type":"text","content":"LONDON, May 12, 2025--(BUSINESS WIRE)--","length":39,"tagName":"p","attribs":{}},{"type":"text","content":"AltynGold Plc","length":13,"tagName":"p","attribs":{}},{"type":"text","content":"("AltynGold" or the "Company")","length":50,"tagName":"p","attribs":{}},{"type":"text","content":"Q1 2025 Production and Operational update","length":41,"tagName":"p","attribs":{}},{"type":"text","content":"AltynGold (LSE:ALTN) is pleased to announce its production and operational update for the three months to 31 March 2025 ("Q1 2025" or the "Period"). Following the third line of processing becoming fully operational at the Company's flagship asset Sekisovskoye, the Company is on track to deliver a strong performance in 2025 and maintains its trajectory for 2025 towards annual production of over 50,000 ounces.","length":435,"tagName":"p"},{"type":"text","content":"Significant increase in production and revenues","length":47,"tagName":"p"},{"type":"text","content":"The company continues to deliver strong growth with mined and milled ore increasing 34% YoY and 57% YoY to 208kt and 205kt respectively.","length":136,"tagName":"p"},{"type":"text","content":"The significant development effort undertaken in 2024 in terms of infrastructure and ore bodies preparation is being evidenced in broadly stable grade and higher recovery rate at 2.04g/t and 84.9%. As a reminder 1Q 2024 post milling grade of 2.17g/t was distorted by mixing stockpiled ore. On a like for like basis, the underlying grade is broadly in line with 1Q 2025 grade of 2.06g/t.","length":386,"tagName":"p"},{"type":"text","content":"Higher mining production coupled with an expanding recovery rate resulted in outstanding growth in gold poured which was up 51% YoY to 11,175oz in line with management target of ~50koz production for the full year.","length":214,"tagName":"p"},{"type":"text","content":"Revenues increased 61% YoY from $15.7m in Q1 2024 to $25.3m in Q1 2025 further supported by 36% YoY increase in the average price of gold. Note that revenues would have been even higher had all production been sold in the quarter (11,175oz versus 8,943oz). The difference has boosted inventory and will support future quarter revenues given the further increase in the gold price post 1Q 2025.","length":393,"tagName":"p"},{"type":"text","content":"Productio...