1st Quarter Results
Q1 2026 revenue doubled to US$56.3m on 29% higher gold sales and strong prices despite lower grades.
- Revenue US$56.3m (prior US$25.3m)
- Gold sold 11,532 ounces (prior 8,943 ounces)
- Average realised price US$4,809/ounce (prior US$2,831/ounce)
- Ore mined 212,595 tons (prior 208,216 tons)
- Ore milled 234,625 tons (prior 204,647 tons)
- Gold grade (milled) 1.68 g/ton (prior 2.06 g/ton)
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AltynGold (LSE:ALTN), a leading exploration and development gold miner operating in Kazakhstan, is pleased to announce its production and operational update for the three months to 31 March 2026 ("Q1 2026" or the "Period").
Production and revenues
Q1 2026 was another strong operational quarter for AltynGold. Ore mined (213kt) and milled (235kt) reflected a 2% and 15% year-over-year (YoY) increase, respectively, underscoring robust productivity at the Sekisovskoye mine.
Gold sold surged 29% YoY to 11,532 ounces, driving a 122% YoY revenue increase to US$56.3 million, supported by higher sales volumes and strong gold prices.
In Q1 2026, AltynGold executed planned mining of upper horizons (5-5 and 6-8) to address a vertical gap in its main ore bodies, which temporarily impacted the average mined grade from 2.04g/t to 1.73g/t. This work was completed in April, and gold grades have since returned to normal levels, consistent with the 2026 mine plan.
With stable production, improved grades, and strong gold prices, AltynGold remains confident in its outlook for the remainder of 2026. The Company is focused on delivering operational targets while advancing medium-term expansion plans to increase processing capacity at Sekisovskoye.
Operational upgrade
During the period, AltynGold strengthened its operational infrastructure at Sekisovskoye, launching a new on-site laboratory in April. Equipped with modern analytical tools and staffed by 35 professionals, the lab expands in-house testing capabilities, improving turnaround times and supporting data-driven decision-making across production, grade monitoring, and processing efficiency.
Sekisovskoye Growth Plan
Following the December 2024 upgrade, the processing plant now operates at its maximum capacity of 1Mtpa. AltynGold is advancing plans for a second-stage expansion to 2Mtpa and expects to update the market in the coming months.
Gold production and operational figures for the period
| UoM | Q1 2026 | Q1 2025 | Growth, ± % | Year 31/12/25 | |
|---|---|---|---|---|---|
| Ore mined | tons | 212,595 | 208,216 | +2.10 | 926,422 |
| Gold grade | g/ton | 1.73 | 2.04 | -15.20 | 2.06 |
| Contained gold | ounces | 11,792 | 13,653 | -13.63 | 61,270 |
| Ore milled | tons | 234,625 | 204,647 | +14.65 | 966,592 |
| Gold grade | g/ton | 1.68 | 2.06 | -18.45 | 2.05 |
| Contained gold | ounces | 12,664 | 13,526 | -6.37 | 63,506 |
| Gold poured | ounces | 10,664 | 11,175 | -4.57 | 53,852 |
| Recovery | % | 84.56 | 84.93 | -0.44 | 85.07 |
| Gold sold | ounces | 11,532 | 8,943 | +28.95 | 50,442 |
| Av. realised price | US$/ounce | 4,809 | 2,831 | +69.69 | 3,474 |
| Revenues | US$m | 56.30 | 25.32 | +122.35 | 175.2 |
| Safety metrics | cases | - | - | - | - |
Safety metrics
The Company maintained its strong safety performance during the Period, with no lost-time injuries (LTI) recorded among its employees or contractors during the reporting period. Consequently, no working days were lost due to occupational injuries or incidents (DIS).
The Company continues to maintain high standards in occupational health and safety across its mining operations and remains committed to further strengthening workplace safety and operational risk management across the Sekisovskoye mine site.
Annual General Meeting
AltynGold looks forward to meeting shareholders at the Annual General Meeting, which will be held at 11:00am on 2 June 2026 at the Hudson Sandler office, 25 Charterhouse Square, London. Ahead of the meeting, if shareholders have any particular questions they wish to raise, these can be sent to info@altyngold.uk.
AltynGold CEO Aidar Assaubayev commented:
“AltynGold has begun 2026 strongly, with mining and processing volumes up, gold sales rising, and revenues more than doubling year-over-year. Sekisovskoye’s sustained performance highlights the strength of our operating platform and the dedication of our on-site team.
We remain committed to achieving our 2026 targets, supported by continued investment in operational capabilities. Additionally, we are advancing plans to expand our mining and processing capacities and will soon share updates on the next stage of growth initiatives at Sekisovskoye”.
Information on the Company
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