Altyngold Share Discussion Threads

[excellance] 15/7/2020 16:50

im happy with the responses, good info i think. well done to the management for doing this.
i think i'll double my holding.

[cyberbub] 15/7/2020 16:46

Yes it's all a welcome change in the level of transparency, and all sounds logical.

[vish65] 15/7/2020 16:32

Q&A. Reading between the lines there's an element of technical detail in the answers that certainly gives the impression they want Shareholders to have a good understanding of how the company is developing which is good to see. A thumbs up from me.

[stevea171] 15/7/2020 16:09

QuestionsarisingattheAGMheldon26June2020

Questions in relation to production.
Q–Shareholder made an observation that Mill recovery was in the range of 83%, he wasaware of other plants achieving in excess of 90%. Question was asked can recovery rates beimproved and what is the targeted rate of recovery in the future?

A-The recovery of 83% is the end-to-end recovery, i.e. from ore to Dore. The gold recoveryinto solution reaches 90-91%, which is a good result. The recovery into solution can beincreased to 1-1.5%, but this will require increasing the grinding fineness to 90% or greater -0.074 mm. This will require installation of additional mills, which will lead to an increase inthe processing cost. There were also a number of studies on this subject which havesuggested that the mineral composition, i.e. the presence of sulfide minerals in the ore, doesnot allow increasing the recovery beyond this point. Therefore, there is no plan to increasethe gold recovery over 83%.

Q–What type of gold mineralisation are the reserves at Seki and Teran-Sai? Are theprocessing plants circuits able to successfully process different types of ore?

A-As stated in the CPR, the geological structure of Teren-Sai is similar to that of Seki. Themineralisation is mainly free gold in quartz-carbonate veinlets on explosive-hydrothermalbreccias. The possibility of processing Teren-Sai ore at Altyn MM’s plant by using thetechnology applied for Seki’s ore was tested as part of technological studies.

Q–The grade is low at 2g/t, what grade is the Company targeted for future production?

A–At Seki, the tunneling/sinking equipment was procured under an investment program,operations commenced with accelerated preparation of levels. This involves associated (pre-production) mining, which produces up to 10% of sales ore, and always has a high dilution.Since ore processing at a beneficiation plant requires the feed ore to have a uniform grade,then in order to operate a beneficiation plant at full capacity the ore produced from associatedmining is fed together with the ore produced from longwall face extraction, so that the gradeis averaged out.Once the tunneling/sinking operations reach the required depth and the required degree ofpreparation with full preparation of reserves at levels from 150 to 300 m, the average gradewill reach 2.89 g/t.

Q–How much stock-piled developmental (low grade) ore remains and when is this expectedto be depleted.

A–There is no stock-piled (low grade) ore at the moment, as it was all processed.

Q–How long will the existing tailings dam be operational for? - is the paste plant still to bebuilt?

A-The existing tailings storage facility will operate for 2 more years. Then, the embankmentwill be extended upward for 6 meters and will operate for 3 more years. The tailings storage
facilities will exist until full development of reserves in the fields, and part of the tails will beused for preparation of a paste for backfilling of mined-out voids.

Q–When are Teran-Sai operations expected to commence, to what extent will the existingopen pit equipment be useful in the operation going forward.

A–The development of Teren-Sai is progressing in accordance with plans as furtherexplorational works and tests are being commenced. The company then plans to movetowards preparatory and stripping work. The produced ore will be stock-piled and will beprocessed at its own plant. The existing open-pit equipment and the equipment to bepurchased will both be used for development of Teren-Sai and future development of otherprospects in the contract area.

Q–Is the Company going to continue to use outsourced subcontracted mining or is there aplan to bring the mining back in-house.

A-The mining operations in the field will be carried out using the man-power of theCompany, which have qualified specialist for operation of self-propelled equipment andtunneling/sinking equipment. Contractors will be involved for some specific operationsrelated to tunneling/sinking and outfitting (equipping) of hoisting shafts.

General
Q–Why did the government take money from the restoration fund in order to pay taxes androyalties, given the insignificant sums involved?

A-The government has a lien over the account which is reserved for restoration and notavailable to the Company, the authorities can use the fund to pay any taxes or royalties.

Q–Will the Bond prospectus be published on the Company’s website so shareholders canreview the information contained therein. ?

A-The bond prospectus is available at Astana International Exchange’s website.

Q–Is the Company going to provide regular quarterly updates on production?

A–The Company has been giving regular updates on production and other matters and sowill continue to disseminate important information on a timely basis.

Q–Does the Company have the right level of skill and expertise at management level giventhe recent changes to the Board.

A–The company’s expertise and competence at management level remains substantial dueto the combined set of skills and experience in the given sector. In addition, as stated in theAnnual Report, the Company is in the process of reviewing to further strengthen its Boardcomposition and key management, and will report to shareholders as plans progress.

[outlawinvestor] 15/7/2020 16:08

Thanks CosmicTraider!

[wrighty46] 15/7/2020 16:07

Just read them excellent information. And good spot.

[cosmictraider] 15/7/2020 15:53

Don't know if I've missed anything on this board, but I've just noticed they've posted on the Altyn website under News the responses to questions at the AGM ?

[wrighty46] 15/7/2020 15:45

Last time I put my nuts on the bar I got life ban.

[zooman] 15/7/2020 15:40

B. As a child most of us were taught about hygiene doesn't seem to be the case these days. Just go to the loo in a bar and see how many don't wash their hands. If there are nuts etc on the bar I never touch them. Zoo

[jc2706] 15/7/2020 14:56

I lived in the Netherlands for 4 years or so in the 90s. Enjoyed it very much and fell in love with Belgian beer!

[jc2706] 15/7/2020 14:52

excellence,

Regarding gold price, if you comment based on GBP it is going to make for a confusing conversation as virtually everybody uses USD.

[albert arthur] 15/7/2020 14:40

Not me.. holding

[excellance] 15/7/2020 12:50

so you lot have gone short then?

very negative all of a sudden, must have all sold out yesterday did you?

[onedayrodders] 15/7/2020 12:27

yes defo risks tightfist .. but I can only base my view on what the company have released publicly. If they wait until next Quarterly Update to reveal Covid impact has resulted in a reduction in both staff / production I will be extremely dissapointed.

[tightfist] 15/7/2020 12:19

Hi ODR, I read your comments on COVID prospects; the use of the words "at present" in both quotes is notable......I follow SRB (North Brasil) closely. As at their last RNS/CRUX they still had no COVID in their camps; however, the comprehensive measures they have taken to maintain that situation has reduced on-site/shift workforce by ~30% and Gold production by ~20%. Surface exploration and contractor (personnel rotation) activity has been halted..Both ALTN and SRB need to generate maximum cash to sustain their strategies; is COVID infection a When? not an If?.Cheers, tightfistPS: I am still keen on both companies!

[brasso3] 15/7/2020 11:27

I am a Brit living here in Holland. The liberal nature of the dutch has allowed life to go on with minor restrictions. Very similar to what Sweden have done except the press seem to have not covered the Netherlands in their critique! The hots spots around the world where deaths have been high are largely due to the germ pits that hospitals are and the inevitable outcome that seems to occur when they put you on a ventilator. I am skeptical about the true severity of the virus and it could be easily managed with education and trust.

[zooman] 15/7/2020 11:21

B, you hit the nail in the head about how people behave. I believe this is why some countries have faired better than others because of the mindset of the people and the respect they have for each other.Are you Dutch or just living there? I had business ties with the Netherlands for twenty-five years or so and also spend a lot of time there both work wise and holidays on my boat. Nice people and a nice country.Zoo

[excellance] 15/7/2020 10:51

I do like their millionaires squares too, love digging into those.

[brasso3] 15/7/2020 10:41

Sainsbury's do sell gold bars!

[onedayrodders] 15/7/2020 10:35

exellance .. has your loca Sainsbury's confirmed a JORC yet ?


;o)

[brasso3] 15/7/2020 10:27

I live in the Netherlands and most shops stayed open throughout the virus crisis. If people are smart and take precautions there is no need to close businesses.

[excellance] 15/7/2020 10:24

Covid shouldn't affect mining at all, because most miners are fit and mining operations are no longer mass employers so there should be plenty of distancing. Add to that the remote location away from densely populated areas and we should be OK, tho obviously that isn't saying they don't have to adapt operations to mitigate risk of covid as far as reasonably practicable.

My local sainsburys didn't close so why would a remote mine?

[outlawinvestor] 15/7/2020 10:18

PEEL's "official" spread widened to 0.6p (2.0p v 2.6p) yesterday. The other two retain a 0.5p spread (2.1p v 2.6p).

[update @ 14:06] ...and PEEL have changed their ways and rejoined their kin @ 2.1p bid. Officially running a cartel again!

[onedayrodders] 15/7/2020 10:03

Yes I guess we should not take every word from a CEO as gospel.

But for me it will completely demolish the new perception the company have worked hard to create and they have the opportunity to update the market if Covid is expected to impact production and they have not.

Maybe rose tinted glasses on my part but I'm expecting them to deliver again on next production report.

ODR

[king suarez] 15/7/2020 10:01

Yes, a v promising Q1. Fingers crossed the growth has continued for Q2.