Altyngold Share Discussion Threads

[excellance] 29/8/2019 15:54

They are limiting buy sizes to just 50k which is a bit tight. I bought 50k and the share price immediately dropped, so I bought more!

[shanur90] 29/8/2019 15:42

Very good volume today haven't seen this for sometime as have been watching this for a while

[wrighty46] 29/8/2019 15:29

Hopefully get some more buying into the close. Let's see what tomorrow brings.GLA

[excellance] 29/8/2019 14:57

I wonder if they'll mark this down near close as they normally do?

[excellance] 29/8/2019 12:18

Officially a breakout?

[tim000] 29/8/2019 10:10

Silly spread again

[chrisdgb] 29/8/2019 09:45

Wow, two trades over 1m shares just gone through.......

[shanur90] 29/8/2019 09:38

Asking for 0.56p now about to make a big move I been buying

[bo doodak] 29/8/2019 09:33

Caution, still able to buy plenty online at moment

[tim000] 29/8/2019 09:28

About time too. Hopefully that means there's no longer an overhang. Tomorrow is likely to be interesting to say the least, one way or another.

[excellance] 29/8/2019 09:21

Wow, pushing up now!

[chrisdgb] 29/8/2019 08:04

Gold on fire.......

[tim000] 28/8/2019 18:55

PS. I've not followed the CNG story. But I have followed Chinese companies listed in the UK for many years. The majority of them are fraudulent. One common business model is to offer finance to a distressed company, then string them along. No other company will touch them given a Chinese backer. Then they pull the plug, and possibly buy the company for nothing in a fire sale. Anyone making a profit is lucky. They should take their profit and run for the hills.

[tim000] 28/8/2019 18:47

You're right to be cautious. But I've never taken CPRs at face value, I've never seen one that didn't underestimate costs. They are produced for clients, one doesn't have to be a cynic to understand that they won't be 100% reliable. However, in a world where new mines are scarce, and prohibitively expensive to establish, and at a stage of the cycle where demand for gold is increasing strongly, CPRs do at least highlight large mining reserves. And it's a fact that ALTN will be able to expand production much more cheaply (and speedily) than prospective mining projects such as SOLG, etc etc.

[bo doodak] 28/8/2019 18:01

CNG's major shareholder being Chinese is another sizeable worry, and could easily end badly. However, they've had plenty chance to act to shareholders disadvantage but haven't, so I'd argue there is a reduced chance they'd do it now with the situation rapidly improving. The longer term loan rollovers are still to be agreed though.

I believe its simply been a case of Altyn's owners playing the long game, awaiting higher G prices. There is a high likelihood of a ''CNG'' rise IMO

Should know soon

[tim000] 28/8/2019 17:16

In my view ALTN is a much misunderstood company, largely because it necessarily transformed from an open pit miner to an underground miner, which inevitably cost a lot of money and has taken a lot of time to become viable. But it is now viable, and grades are expected to rise as the company mines at deeper depths. If I'm right, and the company is now highly profitable at current gold prices (and assuming further investment in mining equipment), then this has created an amazing investment opportunity for anyone who understands the transformation that is now taking place.

[jc2706] 28/8/2019 17:10

I wonder whether people buying CNG actually understand the situation fully there - it could go under and its EV is well over $200m now. The risk/reward is rather too far over to risk now, although it was an interesting punt at 3p (unfortunately I didn't notice it moving until it had already gone up 150% or so). As you say, it does illustrate what is possible.

Personally I think that the EV for ALTN should be at least as high as CNG but I believe that CNG has gone too far now.

[roguetreader] 28/8/2019 15:13

If you want to see what a 'relatively small' bit of good news can do to the share price of a high risk junior PM stock these days, take a look at CNG. They were under 3p in June and are now pushing 18p. I see a lot of parallels re the Under Valuation that they were suffering from here. It will be interesting to see what happens to the ALTN share price if we get a reasonably positive and progress based update in the Half Year report.
RT

[excellance] 28/8/2019 14:02

There has been constant buying beneath the surface, taking all available shares from weak hands, patiently absorbing all sells, slowly inching the share price higher...

[wrighty46] 28/8/2019 12:37

I do tend to agree although the bid is rising in the background, you could sell earlier at over 0.50p not checked recently if that is still the case. I'm still of the opinion the possible rewards here far outweigh the risks. GLA

[tim000] 28/8/2019 12:29

I'm not an expert on the behaviour of MMs, but there has been a wave of significant buying recently without the MMs raising the bid price to attract sellers. I assume there is a large sell order in the background, so there is no need for the MMs to raise the bid price. Hopefully that sale will be the last block of a notifiable holding, and once gone the share price will be unleashed. Good news on operations (and bank finance?) should speed that along.

[wrighty46] 28/8/2019 12:19

Final top up done. Not concerned about upcoming update, happy to hold well into next year for the increases to hopefully become more visible to the market. GLA

[jc2706] 28/8/2019 11:02

Agreed. Improving grade, if delivered, and increasing volume, which you hope would be based on the new equipment, should have a very significant affect on both production and cash costs in H2.

[tim000] 28/8/2019 08:58

Good analysis. However, I think you're being a little conservative (perhaps no bad thing). The company incurred substantial one-off operational costs last year, while the Tenge continued to depreciate in H1. Removing the one-off costs suggests unit cash costs of production should have been under $1000 per oz even in H1. But you're right obviously that H2 is going to be very much better than H1, for the reasons you give. My own analysis suggests the p/e ratio will have fallen to under 1 for H2, even at current gold prices. At $1800 this company is worth many multiples of its current value.