• 16,535oz of gold sold (2019: 10,500oz), an increase of 57%.
• Average gold price achieved (including silver), US$1,816oz, (2019: US$1,390oz).
• The Company made a profit before tax of US$3.3m (2019: loss US$1.04m).
• Adjusted EBITDA (Earnings before interest, tax, depreciation and amortisation) of US$13.5m (2019: US$3.3m).
• The Company finalised the listing of the balance of the US$10m 9% bonds on the Astana International Exchange (AIX).
• The balance of the facility with JSC Bank Center Credit of US$8m was drawn down during the year.
• A share placing with JSC Freedom Finance raised US$1.5m in the year.
• New facility taken out in December 2020 with Bank Center Credit of US$5.5m, (2.3bln Tenge), of this US$973,000 was drawn down before the year end.
Mon, 1st Feb 2021 11:52
(Alliance News) - AltynGold PLC on Monday reported a significant revenue increase due to uninterrupted production during its fourth quarter.
London-based AltynGold, formerly known as Altyn, operates the Sekisovskoye gold mine in Kazakhstan.
It said revenue in its fourth quarter nearly doubled to USD12.1 million from USD6.3 million in the third quarter.
Shares in AltynGold were up 31% at 137.50 pence in London on Monday.
Planned maintenance was successfully completed on time during the third quarter, which allowed for uninterrupted production in the fourth quarter. This resulted in the growth of milled ore production increase by 52% quarter-over-quarter to 140,723 tons from 92,576 tons, it added.