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Altyn losses narrow

By BFN News | 08:07 AM | Friday 01 September, 2017


Altyn's first half turnover rose by 35% to $9.4m while operating losses fell to $109,000 from $1.3m and pre-tax losses narrowed to $1.2m from $2.5m. Altyn said gold recovery was averaging 81-82%, in line with forecasts, and it expected recoveries to increase further in the second half when new equipment for gravity concentration became operational. Chief executive Aidar Assaubayev said: "The company is now operating on a sound footing with the basic structures in place to move forward. "However, to increase production capacity the company will need further equipment in order to push production up to the next step of 40,000-45,000 tonnes of ore processing a month. "The company is continuing to look at a number of options to service this need and hope to report back positively in Q4 2017." At 8:07am: (LON:ALTN) Altyn Plc Ord 0.1p share price was -0.12p at 1.38p Story provided by StockMarketWire.com

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