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Max Petroleum sells 51 percent stake to Kazakhstan Assaubayev family

Max Petroleum sells 51 percent stake to Kazakhstan Assaubayev family
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Investegate |Altyn Plc Announcements | Altyn Plc: Final Results

• 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.

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