AltynGold plc

Notable vs. Peers

• Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
• Financials score of 4.5/10 is weaker than the peer average of 6.4/10.
• All-in sustaining cost of $1,562/oz is 20% lower than the peer producer average of $1,960/oz.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Hambledon Mining (AltynGold's predecessor) assumed the Sekisovskoye mining rights in 1994 (valid until July 2020). Exact day not found in available primary sourcing. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Hambledon Mining plc (AltynGold's predecessor, Sekisovskoye project, Kazakhstan) announced in its own 'Preliminary Results' RNS, dated 7 June 2005 (fetched in full via Investegate's public RNS archive): 'Subsequent positive results from this ongoing feasibility study and a successful drilling programme culminated in the board's decision to approve the stand-alone open pit project which has proven far more substantial than envisaged at the time of the Company's flotation' (flotation = the company's June 2004 AIM listing). The following paragraph in the same release states 'In April 2005 we raised a further GBP5 million (before expenses) to allow us to finalise the open-pit element and further develop the overall project' -- describing the April 2005 fundraise as funding the ALREADY-DECIDED open-pit project, not preceding the decision. No more precise day/month for the board decision itself is given in this release; achievedDate is left null (year/window precision only: on or before the 7 June 2005 announcement date, and per the sequencing, most likely late 2004 to Q1 2005, before the April 2005 raise). This supersedes Task #672's prior RESEARCHED_UNKNOWN checked-gap for this same milestone, which had ALREADY found the same 'board's decision to approve the stand-alone open-pit project' language via a different, secondary source but explicitly declined to write a row because it could only find 'forward-looking expected language' for the date -- this pass located the primary RNS itself, which states the decision in the past tense as an accomplished fact, not an expectation. Source: https://www.investegate.co.uk/announcement/rns/altyngold--altn/preliminary-results/781297 (Hambledon Mining plc, 'Preliminary Results', 7 June 2005). · Source
3. Construction start

   Reached — date not disclosed · Open-pit mining commenced at Sekisovskoye in 2007 under Hambledon Mining, following a 2004 feasibility study/AIM listing and a board decision to approve the stand-alone open-pit project (no exact FID date found -- see CONSTRUCTION_DECISION checked-gap). Exact day not found. · Source
4. First pour / production

   Reached — date not disclosed · Ore processing and gold pouring began at Sekisovskoye in 2008. Exact day not found in available primary sourcing. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: AltynGold's Sekisovskoye operation in Kazakhstan (via subsidiaries DTOO GRP Baurgold and GMK Altyn MM LLP) has a fully operational 1Mtpa processing plant. FY2025 results show record production (53.8koz) and revenue (~US$175m), and a Q2 2026 operational update (dated 2026-08-11) confirms continuing output. No source gives a specific historical commercial-production start date -- the company's own materials frame this as long-established, ramped-up production ('20+ years of local expertise,' 'tripled output since 2019') rather than a recent single-date milestone, so achievedDate is left null rather than fabricated. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.