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AltynGold PLC - London-based gold mining company with assets in Kazakhstan - On November 10 says revenue falls 16% to $14.7 million in the third quarter of 2022, from $17.6 million in the second quarter. This is due to a lower average selling price of gold. Expects gold price to fluctuate around the current levels of around $1,700 an ounce.
Says gold production at 8,799 ounces remains at the strong level achieved in the second quarter of 8,836 ounces, supported by ‘improving grades which increased to 2.11 grams per tonne’, the company notes. Ore mined amounts to 131,204 tonnes, down from 142,937 quarter-to-quarter. Average gold grade, however, amounts to 2.11 grams per tonne, up from 2.09 grams per tonne.
Current stock price: 97.00 pence each
12-month change: down 28%
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