Altyngold Share Discussion Threads

[pensionplanner] 24/4/2024 18:31

Just looking back Terensai looks as good if not better than Seki.

A total of 15 targets, but just area 2 results via a Competent Persons Report (link below) gives an idea of the potential of TS.

Also note elsewhere mention of open pit and underground mining.



"Mining operations at the nearby Teren-Sai project are planned to include both surface and underground mining methods. The open pit mining method will make use of a suite of trucks and excavators, while underground operations will make use of the sub-level stoping mining method, similar to the underground operations at the adjacent Sekisovskoye mine. It is expected that open pit mining covers a +490 masl to +350 masl depth range while the underground mining will be conducted from +350 masl to +25 masl. The planned Teren-Sai processing plant will be a conventional carbon-in-leach (CIL) gold recovery plant, similar to the neighbouring Sekisovskoye mine process plant."

[excellance] 24/4/2024 15:38

As I said, I will be surprised if TS is not viable, but we don't have enough information about it to even guess at what finance may be needed, and what kind of timescale will be required.
They've stated they will used old equipment from the Seki open pit to start up and reduce costs, which is an obvious and welcome step to take, but beyond that we know nothing.

The problem for me is if TS is a much bigger project than Seki and dwarfs the financial model as we see it today. They seem to be hinting that TS could start up with a single open pit, increasing to three or five open pits, with a central processing plant, at least for the short to medium term, financed largely internally from Seki profits, and I don't recall any talk of any expensive deep mining at TS down the line, or of any deep drilling.

Delighted with Seki progress, impatient for TS plan.

[pensionplanner] 24/4/2024 15:05

I doubt Altyn would have sought an extension to licensing for TS if they didn't believe it was viable.

This have at least proved that they can raise finance without crippling shareholders, so I doubt TS funding would be a problem, depending of course on viability.

[excellance] 24/4/2024 12:21

We can only focus on what we know.
We know that Seki is being expanded in phases, project capital was secured with a 7 year loan on excellent terms, progress has gone reasonably well, and gold prices are very supportive.
We now await numbers showing what that all means in terms of profit.

TS is a totally separate entity. It's a large project, loads of drilling has been performed, several areas of interest considered, and even trial mining, yet very little information and no decisions.
The company have been very cagey or coy about TS, the question is "why?".
Obviously Seki is the "material asset" driving Altyngold, and TS is a side show without any clear value. We know the exploration licenses have been extended another two years but we still don't know what the company plan is. We all obviously hope that TS proves to be a viable and eventually profitable endeavour but depending on the level of funding required it could screw up our gearing for a decade if we get the finance wrong. It may make sense to farm it out or sell it, but after all the years of work done I'll be surprised and disappointed if they drop it entirely.

One step at a time, let's wait for Seki results.

[golden prospect] 22/4/2024 11:58

PP, dominant shareholder say below 50% may be a safeguard, but near to 70% is a greater risk of game-over for the small shareholder as they could go for calling all the shots. In this sense ALTN is somewhat of a Curate's egg, a marmite investment. It's obviously a comfort to see the recent project expansion has been debt funded, but the end game seems unclear. Is it a Polymetal style exit or are we to go like Kemin and be a scrambled egg ? In the interim, one hopes we see dividend payments sooner rather than later.

[pensionplanner] 22/4/2024 11:04

As much as majority shareholders may be considered a problem, its also a safeguard. Should any bidder arrive, they would have to have an agreed bid which would likely be higher than a hostile ifere there were a lot more shares in the market that could provide a hostile with a good percentage.

[louie2010] 22/4/2024 09:31

Excellence has bought another 7 shares tight ass

[researchcentre123] 22/4/2024 08:24

Maybe but I don't think at these share price levels in fact they've made every effort not to dilute for which I personally applaud the management

[excellance] 22/4/2024 07:02

I think it is inevitable that dilution happens at a point where the majority holders want to mitigate some risk in exchange for necessary direct funding which will be hugely beneficial to all holders.

[researchcentre123] 22/4/2024 06:46

I think the majority shareholder problem is not a problem for the majority shareholder. Do you honestly want them to dilute your shareholdings? That's their saving grace - that they haven't done that. Develop the mine then a trade sale is probably the best way.

[excellance] 21/4/2024 23:47

I have said on numerous occasions that the solution to the majority shareholding problem is simply to dilute, and assuming TS gets the go ahead then that would be an ideal opportunity to dilute, however, I also think that TS is a large acreage for little Altyn to undertake by itself, so maybe some kind of corporate activity will address a few issues on one go?

[louie2010] 21/4/2024 23:35

Your guessing try looking into some tea leaves is better option. I reckon there keeping it as why go to so much trouble when all cards are stacked in their favour. They got a plan and it's to make money one of the directors is a boffin in economics so obviously knows what makes lots of money.Just hope putin keeps his nose out is worse case scenario.

[leopoldalcox] 21/4/2024 16:48

To reduce the majority shareholder issue, rather than JV, one option would be to raise capital to fund TS. Not great as the company is very undervalued, but then perhaps the most obvious way to remedy that would be to dilute them out. And that dilution will always be at a discount due to the risk it is intended to fix

[golden prospect] 20/4/2024 18:39

excellance, you mention risk on two factors but overlook the third one - dominant shareholder near 70%. For many the third factor will prevent serious money being committed and on this basis fund allocation is very speculative imo. but makes for interesting risk vs reward.

[louie2010] 20/4/2024 15:08

I read share price should be 10 x what it is now so next update hopefully should be good and trading at 3quid by end of summer at least and next year 10quid and no one will buy this as to risky with Russia close by .

[excellance] 19/4/2024 18:33

We need TS to be viable to mitigate single asset risk. Then there's single country risk to ponder.

[dofmeister] 19/4/2024 18:24

Little sniff from a major wouldn't hurt, doubt they would sell for much less than £10 ......

[researchcentre123] 19/4/2024 15:38

Doesn't really make a difference, the management are in it for the long term so doubt they'll be taking any bids now - I am sure like you they realise a little work will 5x the value.....

[king suarez] 19/4/2024 14:27

Surely we want any bid to be later down the line, once at increased production and a higher share price so we can get better value!?

[dofmeister] 19/4/2024 13:58

I've suggested to Polymetal they make a bid......

[researchcentre123] 19/4/2024 13:22

I've written to them about it

[trader465] 19/4/2024 13:17

When are we expecting financials for 2023?

[trader465] 19/4/2024 13:17

Why isn’t the news here not posted as RNS on ADVFN?

[chrisdgb] 19/4/2024 08:59

Nice, sensible, measured rally going on here.........

[pensionplanner] 19/4/2024 08:58

Sad that humans that have the nearest genetic match to each other, still want to kill each other. So much similarity yet so far apart in humanity.