AltynGold records record interim revenue amid "supportive" gold price

AltynGold PLC on Tuesday reported record interim revenue propped up by high gold prices and gold sales.

The Kazakhstan-focused gold exploration and development company said pretax profit for the half-year period ended June 30 was USD55.0 million, up 36% from USD40.2 million the previous year.

Revenue was USD115.2 million, up 65% from USD70.0 million, as gold sales increased 9.0% to 24,628oz at an average realised gold price of USD4,615 per ounce, 50% higher than the average gold price of USD3,071 per ounce in 2025.

Ore mined rose 1.7% to 458,201 tonnes from 450,578 tonnes a year earlier, while ore processed increased 10% to 498,331 tonnes from 452,593 tonnes.

Chair Kanat Assaubayev noted the "exceptionally supportive" gold price environment, "preserving a substantial margin over production costs."

Cost of sales widened 86% to USD55.3 million, from USD29.8 million. Administrative expenses were USD3.1 million, marginally down from USD3.3 million.

Chief Executive Officer Aidar Assaubayev explained: "More than half of the increase in cost of sales reflected the mineral extraction tax, which rises with the value of the gold we produce, non-cash depreciation from our investment programme and higher volumes, with the stronger tenge and the timing of inventory movements adding further."

Assaubayev highlighted record first-half revenue, Ebitda and profit, higher ore processing and gold sales, alongside investment in processing capacity and mine infrastructure, lower borrowings and progress towards a production licence at Teren-Sai.

"Together, these actions reinforce AltynGold as a profitable, cash-generative producer with a substantial resource base and identifiable routes to increased scale."

Shares in AltynGold were up 0.6% to £1,000.00 per share on Tuesday afternoon in London.

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