AltynGold Smashes Targets, Eyes Major Kazakh Expansion

LONDON – January 22, 2026 – AltynGold Plc (LSE: ALTN) has announced a landmark year for 2025, shattering its production guidance and posting record-breaking annual revenues of US$175.25 million. The Kazakhstan-focused gold producer's exceptional performance, driven by a surge in operational output and a historically strong gold market, has solidified its growth trajectory and set the stage for ambitious expansion plans aimed at achieving mid-tier producer status.

The company's full-year gold production reached 53,852 ounces, comfortably exceeding its 50,000-ounce target. This operational success, coupled with a 95% year-over-year revenue increase, signals the successful execution of its strategy and provides a robust financial footing for its next phase of development.

A Year of Golden Performance

The impressive 2025 results are a direct consequence of a significant ramp-up in the company's mining and processing capabilities. The cornerstone of this achievement was the successful upgrade of the Sekisovskoye processing plant, completed in late 2024, which expanded its capacity to 1 million tonnes per annum (Mtpa). This investment paid immediate dividends, with the total ore milled for the year jumping by 63% to 967,000 tonnes, compared to 594,000 tonnes in 2024.

This increased milling volume directly translated to higher output. Gold poured for the full year rose by 44% to 53,852 ounces. The final quarter of 2025 was particularly strong, with gold production of 14,457 ounces representing a 54% increase over the same period in the previous year. This demonstrates the company's ability to consistently leverage its expanded infrastructure. While the average gold grade processed saw a slight decrease, the sheer volume of ore handled more than compensated, leading to a 46% increase in contained gold moving through the mill.

In his statement, AltynGold CEO Aidar Assaubayev commented on the results: "We are extremely pleased to have delivered another year of strong operational performance, successfully achieving our full-year production target of 50,000 ounces. The fourth quarter marked a solid finish to the year, reflecting the benefits of expanded processing capacity and our team's continued focus on operational discipline."

Riding the Bull Market for Gold

AltynGold’s record revenue was significantly amplified by what the company termed a "favorable gold price environment." This is a modest description of a year that saw the precious metal reach unprecedented heights. Throughout 2025, gold prices surged, reportedly climbing by as much as 55% and breaking the symbolic $4,000 per ounce barrier for the first time in October. This rally was fueled by a confluence of global economic factors, including persistent trade concerns, a weaker U.S. dollar, and significant purchasing by central banks looking to diversify their reserves.

AltynGold's financial results show it capitalized effectively on this trend. The company's average realized gold price for the year was US$3,474 per ounce, a 42% increase over the 2024 average of US$2,441. This price uplift, combined with a 30% increase in the volume of gold sold, created a powerful multiplier effect that propelled annual revenues to the record US$175.25 million figure. With market analysts from institutions like J.P. Morgan forecasting a continued bullish outlook for gold into 2026 and beyond, the macroeconomic tailwinds appear set to continue supporting AltynGold's financial momentum.

Strategic Expansion on the Horizon

With the Sekisovskoye plant now operating near its maximum capacity, AltynGold's management is already planning its next major growth initiative. The company is in the advanced stages of evaluating a further expansion of the processing facility to a potential 2-2.5 Mtpa. This move, if approved, would more than double its current capacity and represent a transformative step in its journey to becoming a mid-tier gold producer.

A detailed technical and financial review is underway to define the project's scope, timeline, and funding requirements. A formal decision from the Board of Directors is anticipated in the first half of 2026. This disciplined approach ensures that the ambitious expansion is backed by a solid business case aligned with long-term shareholder value.

Beyond Sekisovskoye, the company is nurturing its future growth pipeline through the Teren-Sai project. AltynGold is finalizing an application for a full mining license for this adjacent deposit, with hopes of securing approval in 2026. Following an extensive 17,535-meter drilling campaign in 2024, the company is analyzing the data to build a detailed geological model and mine plan, which will be crucial for unlocking the long-term potential of this asset.

Navigating the Kazakh Mining Landscape

AltynGold's success is set against the backdrop of Kazakhstan's evolving mining sector. The Central Asian nation, a cornerstone of the regional economy, is actively working to attract foreign investment through regulatory reforms, such as launching an online licensing platform and opening up more territory for geological exploration. These initiatives aim to enhance transparency and streamline processes for operators.

However, the environment is not without its complexities. Foreign investors have noted challenges related to inconsistent regulatory enforcement and increasing local content requirements. Furthermore, the government is introducing a new Tax Code in 2026 and has recently approved amendments affecting the subsoil use law, particularly in the uranium sector, which could signal a broader trend toward greater state control over strategic resources. While AltynGold benefits from an extended subsoil mining contract at Sekisovskoye until 2030, navigating these shifting regulatory and fiscal sands will be critical for sustained success.

Foundations of Responsible Growth

Underpinning its financial and operational achievements is a strong commitment to safety and sustainability. The company impressively marked its fifth consecutive year with zero lost-time incidents, a testament to a deeply embedded safety culture. This focus on operational integrity extends to environmental management, with the company having recently expanded its tailings storage facility to support production through to early 2027. Further work to expand additional tailings dams is scheduled for 2026, securing storage capacity until 2029.

The company is also looking to the future of mining technology through its 'Smart Mining+' research collaboration with Japan's Hokkaido University. The project, which involves installing underground equipment and wireless technologies at the Sekisovskoye mine, aims to enhance efficiency and safety through innovation and is expected to run through 2030.

Looking ahead to the current year, AltynGold has issued 2026 production guidance of 52,000 to 55,000 ounces. This target reflects a focus on optimizing the newly expanded operations while the company evaluates the next major leap in its strategic growth.