Business
Altyn's production update 2Q 2020
Altyn's production update 2Q 2020.
About this update from Altyngold Plc
[{"type":"text","content":"\n \n Altyn's production update 2Q 2020\n \nAltyn Plc\n\n \n \n \n Altyn Plc\n \n \n(\"Altyn\" or the \"Company\")\n\n \n Altyn's production update 2Q 2020\n \n \nAltyn is pleased to announce 2Q20 production update.\n\n \nHighlights:\n\n \nOre mining output up a significant 55% quarter-over-quarter with 143,400 tons of ore mined in 2Q20 (92,324 tons in 1Q20). The positive momentum in production growth is expected to be maintained over the coming quarters.\n\n \nAverage grade came in line with our internal budgets at 1.5g/t. Significant capital and horizontal development are being currently undertaken at the mine. In addition, the new exploration drilling equipment that only arrived at the end of the second quarter should substantially reduce dilution and improve grades in 2H20 in line with our annual budget.\n\n \nOre milled was impacted by scheduled maintenance work at the processing plant required to service the mill, the screen and one of the tanks.\n\n \nRevenues were flat given timing differences of the sale of production to the refinery. As such, revenues from the gold produced of 718oz in 2Q20 will accrue in 3Q20.\n\n \nAs a further update in relation to the COVID 19 pandemic, the Company has put appropriate measures in place to ensure the health and safety of its personnel. There continues to be minimal impact on the production operations of the Company, however management will continue to closely monitor the situation while cooperating with relevant authorities.\n\n \n \n \n \n \n\n \n \n \n \n\n \n \n \n \n 2Q20\n \n \n \n \n \n 1Q20\n \n \n \n \n \n \nOre mined\n\n \n \n \n tons\n \n \n \n \n \n143,400\n\n \n \n \n \n92,324\n\n \n \n \n \n \nContained gold\n\n \n \n \n ounces\n \n \n \n \n \n6,930\n\n \n \n \n \n4,376\n\n \n \n \n \n \nOre milled\n\n \n \n \n tons\n \n \n \n \n \n94,057\n\n \n \n \n \n92,909\n\n \n \n \n \n \nAverage gold grade\n\n \n \n \n gr/tone\n \n \n \n \n \n1.50\n\n \n \n \n \n1.49\n\n \n \n \n \n \n \n\n \n \n \n \n\n \n \n \n \n \n\n \n \n \n \n \n\n \n \n \n \n \nGold poured\n\n \n \n \n ounces\n \n \n \n \n \n3,610\n\n \n \n \n \n3,380\n\n \n \n \n \n \nRevenue\n\n \n \n \n USD m\n \n \n \n \n \n4.58\n\n \n \n \n \n4.58\n\n \n \n \n \n Further Information:\n \n...