Altyngold Share Discussion Threads

[excellance] 25/1/2020 16:34

I'm not suggesting a placing at half a penny. Nobody wants that.

[redtrend] 25/1/2020 16:24

The ALTN Annual Report 2018 I am referring to with the Capex in CEO's Review was less than a year ago, released end of April 2019.

It was the same management that is in place now.

[jc2706] 25/1/2020 15:30

Whilst I wouldn't completely rule this out I don't think that any of your suggestions are likely at all. The company has shown no inclination to do any of these things at the current price level and I hardly think that is going to change unless the price is multiples of current (3p historically is a key figure).

[excellance] 25/1/2020 15:12

That cap ex number was from memory a few years ago, and a few years have passed, there is new management, a new name, and the plan of course has changed into a longer lower cost affair, and is probably obsolete now.

The numbers may have changed, but the company are beginning to move up through the gears, with new equipment, newly updated CPR's and a boat load of cash raised, but my point is broadly unchanged, that they are unlikely to be done with fund raising, but if they intend to raise capital the only remaining option is for inward investment via jv, farm in or placing.

All I'm saying is don't be surprised if that happens.

[vish65] 25/1/2020 14:54

Brasso3. This company has reported historically quarterly under the name of Hambledon Mining under previous management.

The current management seem to see things differently

[jc2706] 25/1/2020 09:25

Most miners in production produce quarterly reports and very few of them are dual listed on the ASX.

[redtrend] 25/1/2020 09:20

Where did you get Capex of $200m from?!

In ALTN's Annual Reports in the CEO's review at the front they normally provide "Projected capital expenditures underground operations". In 2018 the full Capex was estimated at $47m spread across 3yrs.

In March/ April 2019 ALTN already raised over $2m for additional machinery which arrived in July 2019 (CAT R1300G loading and hauling machine to add to the 2 existing and an additional Sandvik TH-430 underground dump truck to add to the existing 2x trucks). We still don't know what positive impact this may have had on production.

They of course then raised the $27m you refer to. So arguably whilst there's been delays to achieving the funding and ALTN's Capex Estimate may be different now, they've funded $29m of the forecast $47m. With gold prices at these levels, over the 3yrs you could assume the remaining funding could be achieved organically from cashflow, by ALTN steadily increasing gold production - particularly at these gold prices.

If ALTN want to accelerate the project and the Capex is required over a shorter period than 3yrs, then they may of course look to raise more funds.

[excellance] 25/1/2020 08:43

final results in May, just 13 weeks away.

more importantly, what do we think this could mean..."In line with its effort to fund growth initiatives and diversify its sources of funding..." and do we really believe that there will be no further fund raising?

my understanding is that ALTN need another $200m to fully fund the mine, but to get that funding they need to do certain things, and have sufficient skin in the game.

They have raised $27m via bonds and a loan, and the directors have 70% of the equity of the company, so wouldn't it be realistic to assume there will be some kind of corporate action, joint venture, or significant capital investment into ALTN by another interested party?

It is clear that the directors on their own cant raise the required capital, and dont want the risk, so i think we will see the directors percentage reduced significantly in coming months as the development plan unfolds, and with it we will see a significant re rating as the market sees the penny finally drop.

In May the results will be interesting, and we of course hope to see a dramatic improvement in production and revenues. Exciting times.

[brasso3] 25/1/2020 08:35

Steve

The companies that report quarterly are usually dual listed on the TSX

[stevea171] 25/1/2020 08:23

Will there be some sort of report on H2 production and activities next week which will be the end of January?

Last we heard about production was an awful long time ago in August and we still know nothing about their mine investment plans since the $27 million cash raising in H2/19.

Are they even aware they have responsibilities to provide UK shareholders with progress reports? Other miners report quarterly by the end of the month following the quarter end.

So where was the Q3/19 production report in October?
A Q4/19 production report should come next week.
But these cowboys with 70% control make use of that fact to pretend that we don't exist, have no value or don't need to be kept in the loop.

[onedayrodders] 22/1/2020 13:41

Agreed .... on both counts !

[brasso3] 22/1/2020 09:04

This is a frustrating stock but I am sure we are not far away from a breakout now.

[excellance] 21/1/2020 08:22

well at least the chart appears to be going in the right direction

[cl2201] 20/1/2020 19:50

In real terms you moved the share price up and certainly the bid from 0.575 to 0.60.

[excellance] 20/1/2020 16:27

so i bought another million at 63 and the chart shows a drop from 67 to 65. well done advfn chart master, genius!

[tightfist] 20/1/2020 14:38

Hi, if this helps, they paid an awful lot of money (IIRC $27m?) for the Soviet era Kara. drilling data archive. Back last summer they talked of 4 areas but this was swiftly narrowed down to 2. BTW still don't understand Teren-Sai versus Kara! Is TS just a subset within Kara?Cheers, tightfist

[wrighty46] 20/1/2020 09:46

Teren sai CPR was for area 2 of 15 or so I believe without looking back. So should we be getting news on other areas as time goes on or has all the previous drilling been confined to just this specific area? Any thoughts would be appreciated. GLA

[stockknobjockeyvanbookstino] 19/1/2020 22:37

Interesting to note the new CPR's for Seki and Teren Sai were dated from May 2019 but not released until October. Gives me me confidence that the owners are here for the longer term; they could have taken it private long ago........

[tightfist] 17/1/2020 21:08

Yes, I seem to remember historic previous slow progress in Winter. Possibly less of an issue now with underground mining operations?Cheers, tightfist

[stockknobjockeyvanbookstino] 17/1/2020 20:48

Don't get too hopeful for this time of year, -20 degrees is normal, -30 with chill factor........

[tightfist] 17/1/2020 12:33

PS: Average so far for 2020 is $1,554.

[tightfist] 17/1/2020 12:32

Hi cl2201,.In reality it's the work on the ground and BoD communications that are going to make the difference.......Purely for the record (calculated for each day's close from Sharescope) the average in H2 was $1,477 - H1 average was $1,307 - making a 13% rise between the half-years..Cheers, tightfist