Altyngold Share Discussion Threads

[e43] 26/11/2020 07:34

Good post KS,all we need here is some news that increased production can be sustained going forward, market cap v undemanding at present

[goodgrief] 25/11/2020 17:22

If the spreads have narrowed that's good enough for me! Spreads before were ruinous.

[king suarez] 25/11/2020 16:26

By what logic would that affect the strength of any share movement? The percentage of free float is what matters IMO, not the total number of shares held.

If a share re-rates to double market cap (for example) that previously had billions of shares in issue it just means people are buying 10s thousands of shares now at a time, instead of tens of millions of shares for the same value following consolidation? Key is how many/% share holders are willing to give up their shares to the market/buyers at any particular bid price. If no-one wants to sell then MMs have to raise the price to attract sellers - this happens whether there is one share or 1 trillion shares held in sticky hands.

ALTN rose plenty fast enough pre-consolidation and will do again if buying appetite returns at the same rate. If ALTN were actually purchasing and cancelling shares in free float with cash to reduce the no. of shares in issue, that would be a different story - as it would affect liquidity and % free float.

When I'm buying shares in a company I don't care whether I'm buying a million shares or 10 shares, I care about what those shares represent i.e:

1) How much cash I am putting down
2) What the market cap of the company is

[cool hand kev] 25/11/2020 16:22

When good news does come the share price will move faster with less shares in Issue IMO

[onedayrodders] 25/11/2020 16:16

That's the theory anyway !

[observer007] 25/11/2020 16:16

One wonders if they are going to list in the US, Caledonian Mining had to do a consolidation to do so as did Phoenix Copper.

The share price has been driven down by very small volume, it works both ways, at some point the share price will turn up.

I think this is a interesting proposition at current levels.

[cool hand kev] 25/11/2020 14:56

Ok thanks 😊

[onedayrodders] 25/11/2020 14:37

Hi.... the USD Index is a good indication of the direction of gold ... anything under 92 is said to be critical support and an indication gold is set to move significantly higher

[cool hand kev] 25/11/2020 13:36

US dollar 💵 just moved to a 91 handle?

[excellance] 25/11/2020 13:32

Is this the "inflection point" referred to?

[excellance] 25/11/2020 13:32

Surely the Consolidation is done, and maybe we'll see soon who these investors are that the board are hoping to impress?

[onedayrodders] 25/11/2020 12:16

Which post Kev

[cool hand kev] 25/11/2020 09:56

OneDayRodders could you explain your post please ?

[king suarez] 25/11/2020 09:42

Was my post offensive in some way? Just wondering why the downvote..

[onedayrodders] 25/11/2020 08:22

Some good news for a change ... US Dollar just moved to a 91 handle .... and should quickly move lower from here

[onedayrodders] 25/11/2020 07:59

Maybe wishful thinking, but I can't see them go through all this corporate action and name change just to announce Q3 numbers have gone backwards Guess we will know pretty soon

[glavey] 25/11/2020 04:20

A share price typically falls post consolidation and given the intention here, quite likely to be shorted. Not to mention the falling POG. If they don't come out with a very solid update, "there may be trouble ahead".

[king suarez] 24/11/2020 22:01

We appear to be sat at a reasonable support level from around June at this price?

[stevea171] 24/11/2020 20:33

HL have now brought ALTN holdings into line today with the shares available for trading.

[observer007] 24/11/2020 15:32

For those interested HSBC have now adjusted ALTN post consolidation, trading is partially possible, can sell but not buy currently.

Hopefully this will be resolved sooner than later.

[excellance] 24/11/2020 14:38

I wonder why the Q3 numbers haven't been reported?

I'm sure they want these corporate actions out of the way, trading up and running, then release the (good?) news.

I do think that the consolidation was done to pave the way for further corporate actions to fund phase two development in a year or two, and I think that the company will want a much higher share price by then.

The "new" spread appears to favour buyers mostly, tho the share price generally has struggled.

Will we need to see stronger gold prices before the ALTN share price moves decisively higher, or will improving financials do ths trick?

[onedayrodders] 24/11/2020 14:26

Looks like the Gold cup and handle test at $1780 gonna happen pretty soon

[highly geared] 24/11/2020 13:21

For some perspective, gold rose, at its peak by c. 55% since the start of 2020. It’s retraced c.14% from its August high. So , in the bigger scheme of things , going down to the 200 day SMA would seem a healthy pull back before resuming upwards. The monetary and fiscal reasons for its rise and continued rise haven’t gone away.

[excellance] 24/11/2020 13:16

I just bought a small amount at 148p

So the spread appears to be 136/148 which is way more reasonable.

Happy days.