AltynGold provide operational update
Published by Jess Watts,
Editorial Assistant
Global Mining Review,
The company continues to deliver strong growth with mined and milled ore increasing 34% YoY and 57% YoY to 208 kt and 205 kt respectively.
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 2.04 g/t and 84.9%. As a reminder 1Q24 post milling grade of 2.17 g/t was distorted by mixing stockpiled ore. On a like for like basis, the underlying grade in broadly in line with 1Q25 grade of 2.06 g/t.
Higher mining production coupled with an expanding recovery rate resulted in outstanding growth in gold poured which was up 51% YoY to 11175 oz in line with management target of approximately 50 koz production for the full year.
Revenues increased 61% YoY from US$15.7 million in 1Q24 to US$25.3 million in 1Q25, further supported by 36% YoY increase in the average price of gold. The difference has boosted inventory and will support future quarter revenues given further increase in the gold price post 1Q25.
AltynGold CEO, Aidar Assaubayev, commented:
"We are pleased to report another quarter of increased production from our operations as we continue to move the company into its next growth stage, delivering sustainable growth and value for all stakeholders. We look forward to meeting shareholders and updating the market at our Annual General Meeting on 20 June 2025."
Read the article online at: https://www.globalminingreview.com/mining/13052025/altyngold-provide-operational-update/
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