Business
Fourth quarter revenue and production update
Fourth quarter revenue and production update.
About this update from Altyngold Plc
[{"type":"text","content":"\n \nFourth quarter revenue and production update\n\nAltynGold Plc\n\n \n \n \n AltynGold Plc\n \n \n(\"AltynGold\" or the \"Company\")\n\n \n Fourth quarter 2022 production update\n \n \nAltynGold is pleased to announce its 4Q22 production update.\n\n \nHighlights:\n\n \n \nFor the year to 31 December 2022, 34.023koz of gold were produced - the highest level since operations at Sekisovskoye mine commenced – this was achieved as a result of a combined improvement in ore quality (average grade 2.17g/t) and the gold recovery factor (83.3%).\n\n \n \n \nOre production for 4Q22 was abnormally low at 118.6kt due to extreme weather conditions, while mined ore reached 124.1kt as the company drew on its ore stockpile.\n\n \n \n \nNotwithstanding, gold production remained above the eight thousand ounces mark on significantly improved grades that reached 2.49g/t in 4Q22. This shows the company’s capacity for grade management as well as the depth of its exploration program.\n\n \n \n \nRevenues for the quarter were marginally down with positive gold price dynamic mitigating reduced volumes. Revenues for the year totalled US$61.2m (2021 us$50.3m) an increase of US$10.9m, a 22% increase in revenues from the prior year.\n\n \n \n \nWith respect to 2023 the company is accelerating its growth plan driven by an expanded fleet of LHDs and underground dump tracks. In anticipation, AltynGold has been accelerating the opening of deeper horizons with the development of transport declines #1 and #2 below +100m mark. During 4Q22 mining operations at the Sekisovskoye mine were carried out at +150m, +134m, +117m and +100m levels.\n\n \n \n \n \n \n \n\n \n \n \n \n\n \n \n \n 1Q22\n \n \n \n \n 2Q22\n \n \n \n \n 3Q22\n \n \n \n \n 4Q22\n \n \n \n \n Total\n \n \n \n \n \n \nOre mined\n\n \n \n \n tons\n \n \n \n \n134,461\n\n \n \n \n142,937\n\n \n \n \n131,204\n\n \n \n \n118,629\n\n \n \n \n527,231\n\n \n \n \n \n \nContained gold\n\n \n \n \n ounces\n \n \n \n \n8,841\n\n \n \n \n9,510\n\n \n \n \n9,144\n\n \n \n \n9,324\n\n \n \n \n36,819\n\n \n \n \n \n \nOre milled\n\n \n \n \n tons\n \n \n \n \n151,431\n\n \n \n \n155,168\n\n \n \n \n153,560\n\n \n \n \n124,064\n\n \n \n \n584,223\n\n \n \n \n \n \nAverage gold grade\n\n \n \n \n gr/tone\n \n \n \n \n2.03\n\n \n \n \n2.09\n\n \n \n \n2.11\n\n \n \n \n2.49\n\n \n \n \n2.17\n\n \n \...