AltynGold has published its 4Q25 update confirming that the company had a record year for production, processing, gold sales, and revenue. That reflected the combination of the processing capacity expansion at the Sekisovskoye mine completed at the end of 2024, the leap in the price of gold and a strong operational performance, including a fifth year of zero-incidents. Revenue for 2025 of US$175m was almost exactly in line with our forecast. Gold production guidance for 2026 is 52-55koz which looks conservative to us. Management continue to expect to take a decision on at least doubling mining capacity at Sekisovskoye by Summer 2026.
