Altyngold Share Discussion Threads

[fd peter] 27/9/2019 09:14

I'm hoping they will get investment and expertise from Anglo Asian, who have said they are negotiating 3 potential acquisitions/opportunities in the region

[sandeels] 27/9/2019 09:01

It'd be helpful to know who will be managing on site development now that Neil Herbert has gone and how they plan to succeed where previous managers have failed. After so long in the doldrums they'll need to bring in someone with a proven track record and ability to take this from where we are to 100k oz pa and beyond.

[jc2706] 27/9/2019 08:48

A 400k oz per year operation would take a substantial investment and a fair amount of time or rely on internal cash flows and take a lot longer. The resultant company would, I suspect, be worth north of $1bn but, like you, I would like to see them get to 20k oz first, 50k oz next and to reach the long heralded target of 100k oz.

[vish65] 27/9/2019 08:31

The 2014 CPR presentation mentions a combined output ( T/S + seki) of 400,000 oz !

Great stuff but getting past 20,000 oz will do me at the moment.

[jc2706] 27/9/2019 08:10

I confess that the announcement around a CPR for Sekisovskoye took me by surprise, mainly because it was unclear what they would be updating. Given the level of current and target production there are enough reserves to support the operation for a number of years so conversion of resources to reserves at this stage would seem unnecessary. Equally, the level of resources is sufficient to maintain the reserves, with the necessary drilling, for a number of further years so conversion of the exploration target (an additional 3m+ oz but deeper) would appear unnecessary.

UNLESS, as you point out the objective is to set the scene for a much larger operation. This would also be somewhat surprising given the fact that they are so far away from producing the current target level.

So I await with interest to find out exactly what they are doing and why!

[stockknobjockeyvanbookstino] 26/9/2019 23:40

2014, last CPR update

The upside opportunity at the Sekisovskoye Mine is related to further exploration drilling to upgrade the existing multimillion ounce gold exploration targets to Mineral Resources and to potentially upgrade the existing Mineral Resources to Ore Reserves. This may justify a further expansion of the processing plant or increase the mine life. The option of a feasibility study for a 2Mtpa mine in the future producing more than 200,000oz per year of gold is being considered based on the increase in the overall resource and the large volume of prospective exploration targets identified.



The potential acquisition of the highly prospective and adjoining Karasuyskoye Goldfields may further justify a combined expansion with the current and planned operation at Sekisovskoye Mine.

[stockknobjockeyvanbookstino] 26/9/2019 20:02

Mostly Deutsche Bank selling down and PI's picking up the stock. Main movers:

Holder Shares bought Shares held
Hargreaves Lansdown Stockbrokers Ltd. +7.13m / +30.86% 30.25m
Hargreaves Lansdown Asset Management Ltd. +5.73m / +34.22% 22.49m
HSBC Global Asset Management (UK) Ltd. +5.36m / +59.30% 14.39m
Walker Crips Investment Management Ltd. +650.00k / +11.59% 6.26m
Jarvis Investment Management Ltd. +474.00k / +5.51% 9.08m

Holder Shares sold Shares held
DWS Investment GmbH -17.51m / -11.05% 140.91m
Peel Hunt LLP -3.24m / -56.94% 2.45m
Winterflood Securities Ltd. (Market-Maker) -2.72m / -15.43% 14.92m
The Share Centre Ltd. -560.00k / -3.99% 13.47m
Henderson Global Investors Ltd. -550.00k / -100.00% 0.00

Data from 31 Dec 2017 - 10 Sep 2019
Source: FactSet Research Systems Inc.

[tightfist] 26/9/2019 19:57

Vish, thanks for that. I had wondered if it was tied-up with accessing the London market for fund-raising - which was eventually not to be! tightfist

[vish65] 26/9/2019 19:04

Tighfist. Neil herbert went back to Premier African Minerals PREM. He started within a month of leaving so cant think its much more than he was headhunted to go back.

[mikro1] 26/9/2019 17:19

I don't think anyone should worry about short term movements. What really matters is what progress the company makes. There should be huge progress made over the next 12 months with potentially excellent Q3 and H2 results and then updates on development. I have seen this all before with other small shares they tread water for a while to everyone's frustration, then shoot up in short bursts. Quality will tell in the end.

[jc2706] 26/9/2019 16:57

Is AIM respected anywhere?

If they can improve the operations in line with their statements as a result of the funding, in my opinion the market capitalisation here should be higher than CNG. Compare and contrast!

[tightfist] 26/9/2019 16:04

Agreed; do we know of a distressed seller? On the face of it (and assuming the BoD becomes communicative!) this looks IMO too cheap; after all, a couple of years ago IIRC they paid 3p for a large chunk of shares.I cannot see a Main Board listing/cost as rational if they intend to just limp along - or is AIM not respected in Kazakh.?What do you make of Neil Herbert's recent exit?

[jc2706] 26/9/2019 15:23

There must really be a large overhang here. Despite all the buying the price didn't really budge and a small amount of selling has seen the quoted bid/ask come down dramatically.

[jc2706] 26/9/2019 15:14

I can see why people are cautious about the loan but I do believe that there is reason to be optimistic that 'this time it is different'. The financing via Freedom Finance failed owing to the fact that FF couldn't provide the money when push came to shove. I suspect that this is not the case with the current round of finance, especially as the organisation has already stumped up a small amount.

The last funding RNS indicated that 'The Company will update shareholders as plans progress' so we should be looking for some form of update as to how funding is impacting on operations. I agree that the most sensible thing would be for the company to issue a Q3 operational update but I will believe it when I see it as the past performance as regards communication is far from great.

[sloppyg] 26/9/2019 14:33

Agreed Tim we need a bit more flesh on the bone wrt the loan T&Cs; especially as some will recall we had a previous loan agreed with Freedom Finance for a similar amount that ultimately fell through.

I am hoping impending CPRs will be the catalyst to subsequently confirm the road map with a bit more clarity.

[tim000] 26/9/2019 14:26

Yes. But surely some of the issues I mention should be RNS'd, given that they announced the delivery of new equipment in July. In which case why not wrap that all up with a Q3 update? Obviously you're right that this may not happen, but if the new equipment is yielding results, why not say so?

[jc2706] 26/9/2019 14:20

If we get a Q3 update! As far as I can see the last time we did was 2013.

[tim000] 26/9/2019 12:38

Indeed. Not too long to wait given the normal news flow from ALTN.

[brasso3] 26/9/2019 12:30

It will be 2 - 3 weeks before Q3 production figures.

[tim000] 26/9/2019 12:29

Apart from the CPRs, there are some other issues we are due an update on. These include: when the bank facility has started to be drawn down; what plant and equipment has been ordered and when it might be delivered/operational; has the low interest rate on the bank facility been accompanied by a hedge being taken out on some of the production; if so, details of the hedge; and last but not least, what has happened to throughput and production since July. So an RNS including Q3 production figures would be sensible.

[kcowe] 26/9/2019 12:10

probably back test mid .50p these huge buys of late have had no effect on price , spread has become massive , all very strange .

[tightfist] 25/9/2019 13:34

Yes, they are all casinos - ALTN is a particularly strange animal with an MC of only £18m but on the LSE Main Board. One wonders about the strategic approach that justifies that situation; not that I am complaining, just thoughtful. Maybe it won't look such an anachronism in a few years time!

[jc2706] 25/9/2019 13:20

I think that ALTN is one of those companies that prove how little difference there is between the main market and AIM! They are all essentially casinos.