Altyn plc Reports Production Results for the Second Half and Full Year 2016; Provides Capital Expenditure and Production Guidance for the Year 2017
For the year, the company reported Mining underground ore Mined was 100,763 tonnes compared to 79,276 tonnes a year ago. For the mining processing ore Milled was 262,546 tonnes compared to 566,664 tonnes a year ago. Gold Produced was 10,970 oz compared to 15,534 oz a year ago. Silver Produced was 16,520 oz compared to 26,608 oz a year ago.
Ongoing capital expenditure in 2017 is likely to be in the region of USD 15 million increasing to USD 20 million in 2018 after adjusting for deferrals from 2016.
The increase in productive capacity is expected to result in a run rate of 40,000 - 45,000 oz of gold production during 2017.