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AltynGold PLC on Thursday reported record half-year profit as higher production and stronger gold prices lifted earnings, and appointed a new chief financial officer. The Kazakhstan-focused gold miner said pretax profit in the six months to June 30 surged to $34.6 million from $10.3 million a year earlier, as revenue climbed 82% to $70.0 million from $38.4 million. Adjusted earnings before interest, tax, depreciation and amortisation more than doubled to $44.1 million from $19.6 million. Gold output rose 44% year-on-year to 25,081 ounces following the completion of a processing plant upgrade at the Sekisovskoye mine in late 2024. Sales volumes increased 31% to 22,595 ounces, with realised prices averaging $3,099 per ounce compared with $2,293 a year earlier. AltynGold reaffirmed its 2025 production guidance of 50,000 ounces and said it remains on track to move into a net cash position soon after repaying higher-cost loans. All-in sustaining costs were $1,357 per ounce, little changed from $1,284 a year before, keeping the company in the low-cost producer category. Chief Executive Aidar Assaubayev said: ‘The combination of higher mined volumes, stable operating costs, and a supportive gold price environment has translated into a 143% increase in operating profit and record Ebitda. Importantly, we achieved this while maintaining our exemplary safety record, with no accidents reported in the period. ‘With ore stockpiles in place, processing capacity running at enhanced levels, and underground development advancing on schedule, we are well placed to meet our target of 50,000 ounces for the year.’ Separately, the company named Maryam Buribayeva as chief financial officer, moving from her role as non-executive director. Buribayeva previously held senior finance roles at North Caspian Operating Company, KazMunayGaz, and Mercury Properties. AltynGold shares were down 2.3% at 774.00 pence each in London at midday on Thursday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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