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Alternus Energy Inc

Underground machinery delivery

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Underground machinery delivery

 

11 July 2019

Altyn Plc
("Altyn" or the "Company")

Underground machinery delivery

In March 2019, the company’s major shareholder, African Resources Limited committed to providing 400m KZT (USD 1.1m) unsecured loan towards the acquisition of underground equipment with the intention to further boost the production.

As a result, the company purchased the following new machinery:

- CAT R1300G loading and hauling machine with a bucket capacity of 3.1 m3 from CAT Kazakhstan;

- TN-430 underground dump truck with a lifting capacity of 30 ton from Sandvik Kazakhstan.

The equipment complements the existing fleet of underground equipment which in summary is:

- Two TN-430 dump trucks and one Sandvik TN-320 dump truck;

- Two CAT R1300G loading and haulage machines.

The new equipment will be under warranty and serviced by the official dealers of CAT and Sandvic during the entire period of operation.

The additional equipment will allow the Company to increase production to its planned targets.

Further Information:

For further information please contact:

Altyn Plc
Rajinder Basra
+44 (0) 207 932 2456

VSA Capital Limited
Andrew Monk/Andrew Raca +44 (0) 20 3005 5000

The information contained within this announcement is deemed by the Company to constitute insider information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Information on the Company

Altyn Plc (LSE:ALTN) is a gold-mining exploration and development company, which is listed on the main board, standard segment of the London Stock Exchange.

To read more about Altyn Plc please visit our website www.altyn.uk

Altyn Plc

Quick facts: Alternus Energy Inc

Price: $0.26

Market: OTCMKTS
Market Cap: $33.89 m
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