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Altyn quarterly revenue flat due to maintenance work, timing of shipments

By BFN News | 01:20 PM | Monday 10 August, 2020


Mining group Altyn said it poured more gold in the second quarter, but its revenue was flat due to the timing of shipments. Revenue for the three months through June was unchanged from the first quarter, at $4.6m. Altyn poured 3,610 ounces of gold, up 6.8% , as ore mining output rose 55% to 143k tons. Ore milled, however, was impacted by scheduled maintenance work at a processing plant. Revenues were flat given timing differences of the sale of production to a refinery. As such, revenues from the gold produced of 718 ounces in the second quarter would accrue in the third quarter. Altyn said the Covid-19 pandemic continued to have minimal impact on production, though it would closely monitor the situation while cooperating with relevant authorities. At 1:20pm: (LON:ALTN) Altyn Plc Ord 0.1p share price was -0.1p at 2.75p Story provided by StockMarketWire.com

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