3rd Quarter Results
AltynGold reported a strong Q3 2025, with the Sekisovskoye processing plant operating at expanded capacity, keeping the company on track to meet its 50,000 ounces of gold production target for the year. Ore mined increased by 16% year-over-year to 239 kt, bringing the year-to-date total to 689 kt, a 28% increase. Ore milled also rose significantly by 53% year-over-year to 256 kt. Gold production reached 14,314 ounces for the quarter, a 36% increase, and year-to-date output reached 39,395 ounces, a 41% increase. The company sold 36,515 ounces of gold year-to-date, driving quarterly revenue up by 89% to US$46.8 million, with an average realized gold price of $3,363 per ounce, bringing the YTD total to US$116.5 million. The company is evaluating expanding Sekisovskoye's processing capacity to 2Mt-2.5Mt at an estimated cost of US$125m.
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AltynGold (LSE:ALTN), an established precious metals producer operating in Kazakhstan, is pleased to announce its production and operational update for the nine months to 30 September 2025 ("Q3 2025" or the "Period"). Since the start of the year, AltynGold’s flagship Sekisovskoye processing plant has operated at expanded capacity, keeping the Company firmly on track to meet its 2025 annual production target of 50,000 ounces of gold.
Operational and Financial Highlights
AltynGold delivered strong operational and financial performance during the third quarter of 2025, driven by continued growth at its Sekisovskoye mine. Ore mined surged 16% year-over-year (YoY) to 239 kt, bringing the year-to-date (YTD) total to 689 kt – a 28% increase compared to the same period in 2024 (Q3 2024: 540 kt). Ore milled also rose by 53% YoY to 256 kt, respectively, higher than ore mined in the quarter due to inventory being available from previous periods.
Gold production continued its upward trajectory, with YTD output reaching 39,395 ounces, a 41% increase over 2024. For the quarter, gold poured totalled 14,314 ounces, up 36% YoY, supported by steady gold and recovery rates of 2.05 g/t and 84.71% respectively.
Sales performance was equally robust, with 36,515 ounces sold during the period (Q3 2024: 27,358 oz). Combined with a favourable pricing environment averaging $3,363 per ounce, this drove quarterly revenue up by 89% YoY to US$46.8 million, bringing the YTD total to US$116.5 million.
Operational Review
The board is in the early stages of evaluating plans to expand Sekisovskoye's current 1Mt processing capacity to potentially achieve 2Mt-2.5Mt within 24 months. This is subject to ongoing detailed technical, engineering, and financial analysis, with a Board decision expected in H1 2026. The estimated cost of expansion would be approximately US$125m, which the Company’s strong cash generation would support. This near-term expansion is part of AltynGold’s medium-term goal to reach an annual production target of 100 koz.
At Teren-Sai, exploration works continued during the period in line with the agreed work programme, with 9,985 meters actually drilled. While the exploration licence runs until March 2026, the Company remains confident of securing a full mining licence during 2026, paving the way for future development initiatives. Further updates will be provided in due course.
Production and operational figures for the period
| UoM | Q3 2025 | Q3 2024 | Growth, ± % | Year to date 2025 | Year to date 2024 | Growth, ± % | Year 31.12.2024 | |
|---|---|---|---|---|---|---|---|---|
| Ore mined | tons | 238 651 | 206 199 | 16% | 689 229 | 540 300 | 28% | 750 045 |
| Gold grade | g/ton | 2,07 | 2,09 | -1% | 2,04 | 2,13 | -4% | 2,10 |
| Contained gold | ounces | 15 881 | 13 899 | 14% | 45 165 | 36 944 | 22% | 50 739 |
| Ore milled | tons | 255 979 | 167 343 | 53% | 708 572 | 446 594 | 59% | 593 612 |
| Gold grade | g/ton | 2,05 | 2,30 | -11% | 2,04 | 2,30 | -11% | 2,29 |
| Contained gold | ounces | 16 898 | 12 347 | 37% | 46 494 | 32 936 | 41% | 43 644 |
| Gold poured | ounces | 14 314 | 10 490 | 36% | 39 395 | 27 903 | 41% | 37 279 |
| Recovery | % | 84,71% | 84,96% | 0% | 84,73% | 84,72% | 0% | 85.4 |
| Gold sold | ounces | 13 920 | 10 112 | 38% | 36 515 | 27 358 | 33% | 38 708 |
| Av. realised price | $/ounce | 3 363 | 2 451 | 37% | 3 192 | 2 302 | 39% | 2 441 |
| Revenues | US$m | 46,81 | 24,79 | 89% | 116,54 | 62,99 | 85% | 94.5 |
| Safety metrics | Cases | - | - | - | - | - | - |
Safety and sustainability
The Company delivered another quarter of no mine accidents or stoppages at its production site. We continue to enhance our knowledge and skills and regularly introduce trainings for all staff to reduce any risk associated with safety at the mine site and prevent hazardous situations.
As part of the Smart Mining + project, undertaken with the support of the Japanese government and Hokkaido University, which will run until 2030, the Company has welcomed the first group of Hokkaido University’s senior staff at Sekisovskoye mine in early September 2025 for sample collections and underground site visits.
Investor presentation
An updated corporate presentation has been uploaded at https://altyngold.uk/news-and-media/.
AltynGold CEO Aidar Assaubayev commented:
“AltynGold has delivered another quarter of strong performance, underpinned by steady production growth and a solid financial position. With Sekisovskoye operating at full capacity, we are well on track to meet our 2025 production target of 50,000 ounces.
The Company is entering an exciting new phase of development as we evaluate the next stage of expansion to further increase output and strengthen our position as a leading gold producer in Kazakhstan.”
Information on the Company
AltynGold Plc (LSE:ALTN) is an exploration and development company, which is listed on the Main Market of the London Stock Exchange.
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