Altyngold Share Discussion Threads

[tightfist] 03/10/2018 08:33

Agreed! If the purchase by the FD was a "steal" 23 days ago. what would it be now over 20% lower! One is bound to wonder what is going to emerge re: funding - or is there a likelihood of it delisting?

[its a worry] 02/10/2018 16:40

Bloody hell thats a grim looking chart . . !!

[chrisdgb] 24/9/2018 09:13

Well, another mega mining merger today, would be nice to get a lovely financing announcement here........

[sandeels] 18/9/2018 11:32

Very true, though £15k is not a huge straw!

[chrisdgb] 18/9/2018 10:40

Not sure but I will take an FD buying a slug of shares....lets face it anything here to clutch on to..!!

[sandeels] 17/9/2018 09:18

Isn't he's the chap at the London office who never calls back when asked to and who won't answer any questions if you do get hold of him?

[chrisdgb] 14/9/2018 13:15

Go Raj.......! nice to see any director buy

[sandeels] 10/9/2018 13:43

A steal at that price

[chrisdgb] 10/9/2018 08:40

Yes, apologies for seemingly flushing out some sellers on Friday afternoon..........!!

[sandeels] 09/9/2018 18:42

Nice, well done Chris. I'm in the same camp as roguetrader!

[roguetreader] 07/9/2018 11:02

Chris I agree to a large extent, but have already called the bottom to myself at least twice!! and topped up accordingly.So am going to await concrete news on the financing before making any further moves.

[chrisdgb] 07/9/2018 09:48

Re read the results and quite admire the job they have done given the cash constraints....I am topping up on the belief the financing gets done...there you go ringing the bottom!!

[sandeels] 04/9/2018 12:19

All good points abv and thanks. Whether due to pog or simply that this just isn't a current priority for the Assaubayevs, the waiting game goes on despite the obvious potential. Either way, the more upside to pog the higher up the priority list funding and development of Altyn is likely to go. Sadly the reverse is equally likely in the short term.
Can't see the family allowing capitulation though, funding and a decent news flow would do a lot to improve the share price ..yawn.

[chrisdgb] 04/9/2018 09:14

Patience has clearly become an over used word here...come on management team, if there is one thing I hate it is an RNS at 4.45pm on a Friday........

[bo doodak] 03/9/2018 17:30

Given the companies restricted cash balances it is intriguing that they have still actively choosing to allocate funding to advance Karasuyskoye.

[roguetreader] 03/9/2018 17:09

Cheers Chip / SG, yep finely balanced between glass half full / half empty. Financials are stringently managed and as Chip points out moving marginally to the positive.

With regard to the financing, I find it increasingly both frustrating and interesting. The Assaubayev family (AR effective owners) are one of the prominent business family's in Kazahkstan and reputedly worth hundred's of millions ($) if not a billion $ ?? (hard to find out their actual net worth. So on the face of it the funding for Altyn is small beer to them, therefore why take so long procuring funding elsewhere? My current guess / take on it is that they are not in a hurry with gold at these prices and are maybe happy to sit on the Sekisovskoye and Karasuyskoye as assets that tick-over at the moment and that they will be happy to speed up development or sell them on later, when gold takes off.

[sloppyg] 03/9/2018 16:24

Does it not seem a strange decision to effectively mothball development when have already committed significant sums to date and the remaining funding required does not appear, at least on the face of it, to be overly significant ?

[chipperfrd] 03/9/2018 15:06

Thanks RT, I agree with all of your post.

I was discussing all this with an investing chum this morning and making the point that, at least, the small earnings achieved in 1H18 have tipped the main financial metrics into small positive percentages, the first time since FY2013!!

However, overall they are just hanging on until they have their mining operation working at an optimum level, and that appears to be totally contingent on their long-awaited fresh capital spend.

Still very much "wait and see", but this underfunding has been going on for far too long now. I am assuming that US sanctions against Asian countries may well have impacted the expected loan from Freedom Capital. But I could well be wrong about that!

Like many small goldies the share price is now at a capitulation level. The PoG is certainly not helping and appears totally at odds with world debt, real inflation, developing countries currency crisis, et al. The mind boggles !!

All the best
Chip

[roguetreader] 03/9/2018 14:16

My take on the half-year:

- Gold Production of 8,461 ounces was a little disappointing as I was looking for between 9 to 10k. This is partially explained by the low production in March / April due to the ‘planned’; maintenance. There was however no mention of this planned maintenance in the April report.

- Ore Production hit 38K tonnes in June (March 11K), with forecasts of between 30 - 35K going forward until financing completed and new equipment procured.

- Op Cash Flow $2.5M with a pre tax profit of $600K achieved due to the costs reduction program and gold priced at $1322

- Looking at the overall current Assets & Liabilities position in the current report v the EOY 2017 position in the April report. Inventories, Receivables and Cash $2.3M up, with Payables, Liabilities, Provisions and Borrowings $1.5M up. Therefore, net improvement of approx. $800K in the short term.

- Long term total debt now down to $2.9M after the conversion of $9.7M to equity held by AR. Total debt now stands at approx. $4.4M (ignoring cash).

Overall at face value the above looks reasonable. However, there are a few concerns and uncertainties:

Cash is very low at $200K and Altyn are wholly dependent on AR backstopping them as a bank.

The financials above were achieved with gold at $1322; it is currently around $1200. With the drop in the gold price financing is unlikely to get easier in the near term, so further delays are possible. So the question is can Altyn tread water financially with gold at these price levels? I think they probably can but IMO it is finely balanced. As per my post in May, the irony is that if they could crack on with the finance and the development the likelihood is that they should be producing at a lower cost base and be able to manage the lower gold price more easily.

AR are looking to take on most of the long term borrowing in Q3 by converting the debt to equity, which will take them over 70% equity owners. There must be some doubt as to whether or not they will not eventually take the company private if it is beneficial to them.

Transparency and reporting to shareholders remains poor. Overall, it remains a waiting game.

All IMO.

RT

[pj 1] 31/8/2018 16:51

5PM Friday RNS.....

[roguetreader] 31/8/2018 10:26

Half-Year report due out today??!! Has been late in the past, should be interesting read.

[roguetreader] 13/8/2018 11:29

Chrisdgb
Yes, progress has been painfully slow, but to date (previous update in April) there has been progress. I'm looking for this to continue with the half-year, but won't be holding my breath re them meeting all objectives i.e. it won't be a surprise to me if some or all elements of the financing have moved out again.

[chrisdgb] 13/8/2018 10:39

So, not too long to the interims now...really need some newsflow as it is just guess work..the 3p looks a long way off at the moment...

[roguetreader] 12/7/2018 11:23

SG, agreed. I decided a month back that I am going to wait until we receive an informed update, before I invest further. I see the current price as very low and a bargain, but IMO there comes a point, when concrete progress is required before further funds are put forward.

[sloppyg] 12/7/2018 11:18

Indeed continued radio silence is very frustrating.

What is strange to me is that AFR have already invested significant resources, yet appear on the face of it, to be prepared to slow down u/g development whilst we await to secure a relatively small final tranche of funding to get us over the line.

The flip side of course is that I am sure they would not let their investment to date go to the wall.

All a bit bemusing and cannot work out if will regret not adding significantly more at 1p or not.......just about sums up the situation here !