StockMarketWire.com - Gold miner Altyn booked a first-half loss after equipment breakdowns hurt production volumes.

Pre-tax losses for the six months through June amounted to $603k, compared to a profit of $603k on-year.

Revenue fell to $7.2m, down from $10.9m.

Equipment problems and the wait for spare parts led to ore extraction averaging 13,300 tonnes a month in the first quarter, down from 20,000 tonnes on-year.

Following the delivery of new equipment, the rate rose to 29,000 tonnes in July.

'Recovery in production is well on track with a significant pick up in production in July,' chief executive Aidar Assaubayev said.

'The key to moving ahead to the longer term plan is obtaining the necessary development finance.'

'On this front we are optimistic as talks are progressing well and shareholders will be updated in the third quarter of 2019.'


At 1:54pm: [LON:ALTN] Altyn Plc Ord 0.1p share price was +0.06p at 0.58p



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