AltynGold (LSE:ALTN), a gold miner operating in Kazakhstan, produced 15.6koz of gold in the second quarter, up 23.3% from the first quarter and consistent with full-year guidance of 52-55koz.
The rebound follows a deliberate slowdown in the first quarter, when the company mined lower-grade transitional zones between ore bodies to bridge a vertical gap in the deposit. With that work finished, the average grade mined rose to 1.88 g/t from 1.73 g/t, and gold poured climbed 24.2% quarter-on-quarter to 13,242 ounces.
Ore mined and processed increased 15.5% and 12.4% respectively quarter-on-quarter, with the Sekisovskoye processing plant running at its 1 million tonnes per annum nameplate capacity following a December 2024 upgrade.
Total revenue rose 4.6% quarter-on-quarter to $58.9 million, as a 13.6% increase in gold sold to 13,096 ounces outweighed a 7.3% drop in the average realised gold price to $4,459 an ounce. Year-on-year, revenue was 31.8% higher, driven by a realised price of $3,222 an ounce in the second quarter of 2025, even though gold sold fell 4.1% and gold poured was 4.8% lower on the same comparison.
Management said it is focused on completing studies and licensing work that will define the company's next phase of growth, with further updates expected in the coming months.
News Intelligence what this means for the company
AltynGold delivered a 23% quarter-on-quarter production rebound to 15.6koz in Q2, driven by higher grades (1.88 g/t vs 1.73 g/t) and increased processing volumes after completing planned lower-grade mining work in Q1. The result keeps the company on track for full-year guidance of 52–55koz, with its upgraded processing plant now running at nameplate capacity, signalling operational momentum into H2.
The Q2 beat confirms AltynGold's ability to execute its mine plan and extract value from the deposit's geometry; however, revenue growth (4.6% QoQ) lagged production growth (23.3% QoQ) due to a 7.3% fall in realised gold price, underscoring exposure to commodity headwinds. Management's focus on 'studies and licensing work' for the next growth phase remains undefined, leaving visibility on medium-term production trajectory limited until those updates arrive.
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