Business
Third quarter productions results and financial...
Third quarter productions results and financial....
About this update from Altyngold Plc
[{"type":"text","content":"\n \n Third quarter productions results and financial update\n \nAltyn Plc\n\n \n\n \nAltyn plc (“Altyn” or the “Company”), is pleased to announce its third quarter production results.\n\n \nHighlights:\n\n \n \nThe company has been granted a supplementary credit line of KZT 3bn (~USD 7m) from Kazakh Bank JSC “Bank Center Credit” (BCC). The loan is repayable in instalments over a term of five years and bears an interest rate of 6%. The loan will be used to increase processing plant output in line with the company’s plans.\n\n \n \n \nRevenues increased significantly, up 38% quarter on quarter (qoq) driven by higher gold prices and the claw back of accruals relating to timing differences of the sale of production to the refinery from the previous quarter.\n\n \n \n \nAverage grade increased by 3.3% qoq. The Company expects further improvement in grades over the coming quarters given the ongoing mining and reserves uncovering works.\n\n \n \n \nDelivery of a JSB crawler excavator with a bucket capacity of 1.8 cu. m, equipped with a buoyancy machine. The equipment will be used for loading ore on portals 1 and 2 and crushing oversized ore.\n\n \n \n \nRegarding the COVID-19 situation, the Company has put additional 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 the relevant authorities.\n\n \n \n \n \n \n \n\n \n \n \n \n\n \n \n \n 3Q20\n \n \n \n \n 2Q20\n \n \n \n \n 1Q20\n \n \n \n \n \n \nOre mined\n\n \n \n \n tons\n \n \n \n \n134,715\n\n \n \n \n143,400\n\n \n \n \n92,324\n\n \n \n \n \n \nContained gold\n\n \n \n \n ounces\n \n \n \n \n6,794\n\n \n \n \n6,930\n\n \n \n \n4,376\n\n \n \n \n \n \nOre milled\n\n \n \n \n tons\n \n \n \n \n92,567\n\n \n \n \n94,057\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 \n1.55\n\n \n \n \n1.50\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 \n \n \n \nGold poured\n\n \n \n \n ounces\n \n \n \n \n3,492\n\n \n \n \n3,610\n\n \n \n \n3,380\n\n \n \n \n \n \nRevenue\n\n \n \n \n USD m\n \n \n \n \n6.31\n\n \n \n \n4.58\n\n \n \n \n4.58\n\n \n \n \n \n For further informat...