AltynGold PLC Enters Next Phase of Growth with 50% Revenue Surge and Strong Profit Increase

AltynGold PLC, a London-based exploration and development company, is poised for significant growth following a remarkable year. The company's financial results for 2024 demonstrate a substantial increase in profit and revenue, driven by rising gold production and prices. As the price of gold rose, AltynGold's average price per ounce achieved in 2024 was $2,441, up 24% from $1,967 in 2023.

Key Takeaways:

• AltynGold PLC reported a significant surge in pretax profit, jumping to $30.4 million in 2024 from $11.9 million in 2023.
• Revenue rose 50% to $96.5 million in 2024 from $64.4 million in 2023.
• Gold production increased by 13% to 37,279 ounces in 2024 from 33,110 ounces in 2023.
• Ore processed climbed 7.0% to 750,045 tonnes in 2024 from 701,000 tonnes in 2023.
• Chair Kanat Assaubayev announced a target of over 50,000 ounces in gold production for 2025, representing a 60% increase from 2023 levels.
• The company's shares rose 8.4% to 389.00 pence each on the back of strong financial results.
• AltynGold PLC has a proven track record of delivering in a complex operating environment, with over two decades of experience in Kazakhstan.

Statistics:

• Pretax profit: $30.4 million (2024) vs. $11.9 million (2023)
• Revenue: $96.5 million (2024) vs. $64.4 million (2023)
• Gold production: 37,279 ounces (2024) vs. 33,110 ounces (2023)
• Ore processed: 750,045 tonnes (2024) vs. 701,000 tonnes (2023)
• Average gold price per ounce: $2,441 (2024) vs. $1,967 (2023)
• Cost of sales: $47.5 million (2024) vs. $41.1 million (2023)
• Administrative costs: $6.6 million (2024) vs. $7.0 million (2023)
• Total finance costs: $12.0 million (2024) vs. $4.0 million (2023)

Sources:

• Alliance News
• Alliance News Ltd. Copyright 2025