Altyngold Share Discussion Threads

[highly geared] 10/8/2020 12:18

C. 7,000 oz H1. Capex/mine development positive impact in H2. Expect 20-25k oz for full year. They’ve sorted out mine ore production rates, milling should be ok and aligned with ore production.

So expect 300k tonnes of ore in H2, ditto milling and improved grades at 2g/ tonne.
Assume historical recovery factor of 83% , that should produce c16,000 oz , giving 23,000 oz for full year.

[cool hand kev] 10/8/2020 12:09

Rome wasn't built in a day ask a LTH @ EUA :-)

[stevea171] 10/8/2020 12:03

Altyn Plc
Altyn's production update 2Q 2020
Altyn is pleased to announce 2Q20 production update.

Highlights:

Ore mining output up a significant 55% quarter-over-quarter with 143,400 tons of ore mined in 2Q20 (92,324 tons in 1Q20). The positive momentum in production growth is expected to be maintained over the coming quarters.

Average grade came in line with our internal budgets at 1.5g/t. Significant capital and horizontal development are being currently undertaken at the mine. In addition, the new exploration drilling equipment that only arrived at the end of the second quarter should substantially reduce dilution and improve grades in 2H20 in line with our annual budget.

Ore milled was impacted by scheduled maintenance work at the processing plant required to service the mill, the screen and one of the tanks.

Revenues were flat given timing differences of the sale of production to the refinery. As such, revenues from the gold produced of 718oz in 2Q20 will accrue in 3Q20.

As a further update in relation to the COVID 19 pandemic, the Company has put appropriate measures in place to ensure the health and safety of its personnel. There continues to be minimal impact on the production operations of the Company, however management will continue to closely monitor the situation while cooperating with relevant authorities.


2Q20 1Q20
Ore mined tons 143,400 92,324
Contained gold ounces 6,930 4,376
Ore milled tons 94,057 92,909
Average gold grade gr/tone 1.50 1.49

Gold poured ounces 3,610 3,380
Revenue USD m 4.58 4.58

[excellance] 10/8/2020 11:58

obviously milling was a bit disappointing, as was gold poured, but overall gold production is as expected.

improvements are being made, production is increasing significantly, momentum is being maintained, and now we look forward with great anticipation to the autumn.

equated to about 28,000 oz pa production at the current rate, and that will continue to improve, so i'm happy. strong buy.

[sloppyg] 10/8/2020 11:58

The issue remains monetisation of the asset for the time being. Every Qtr there is some issue that limits gold poured and hence revenue recognised

Set up nicely for H2 but we do need a problem free Qtr to get the re-rate we are all expecting imo.

[king suarez] 10/8/2020 11:55

Yes, Q3 will give us a real indication of the plant processing ability as more was mined in Q2 than processed due to scheduled maintenance (guess the company had been waiting quite a while to undertake this due to lack of funds?).

As such, much of this additional ore mined will be being sold at higher prices in Q3, which is nice.

[sclper] 10/8/2020 11:53

The results show good progress being made but the real improvements will be shown in the figures from Q3 onwards

[brasso3] 10/8/2020 11:52

Steady as she goes.

Q3 should be very good with 718 oz to carry over and much higher gold prices.

[miguelh21] 10/8/2020 11:52

Q3 I feel will better reflect progress and the higher gold price over the last 2 months

[easwarareddy] 10/8/2020 11:51

Buys now coming through

[sammythevoice84] 10/8/2020 11:48

Steady news , not spectacular by any means , enough to keep some slow momentum up I guess .

[cool hand kev] 10/8/2020 11:42

And what do holders think of the update ?
In line with expectations

[c0lin1] 10/8/2020 10:55

Bull markets surprise to the upsize.

Be right, sit tight. ;^)

[excellance] 10/8/2020 10:35

The last bull market was caused by the aftermath of the sub prime mortgage backed securities fiasco, and was a mere blip compared to the current debt crisis. Inflation is ths only solution, and that causes damage to many sectors, but does have its winners. I understand that central banks will relax inflation targets and raise rates behind the curve, so good for gold.

[brasso3] 10/8/2020 10:32

ODR

I think it will take Q3 production numbers to see the true profitability of most gold miners. It should provide another 2 / 3 months to keep adding though as it seems a one way be now.

[onedayrodders] 10/8/2020 10:28

probably but will be a dead cat bounce IMHO

I'd agree trading in PM miners seems to be short term and no conviction that these companies arw going to be huge cash cows over the medimu to long term.

Basically we are still in the shadows of what happened during the last bull run 2011.

[brasso3] 10/8/2020 10:17

It will have to correct in the short term. I expect the USD is going to bounce now so that will put a bit of pressure on gold.

[excellance] 10/8/2020 10:15

I can't see any reason for a pog correction at this level, considering how it's managed to sweep aside long term highs why would it stop for breath now?

[brasso3] 10/8/2020 10:12

It feels like there is not the 'belief' across the gold miners at present. I think most expect gold to pull back to maybe the $1900 level in the short term. That could mean that it does not and establishes a much higher level before any significant pull back. I can see $2300 / oz going in to the US elections.

[cool hand kev] 10/8/2020 10:09

Penn when the SP's at 12p it wont make a lot of difference :-)

[pennstreet] 10/8/2020 09:21

Typical of my timing!

[excellance] 10/8/2020 09:11

Someone selling at 2.6p?

[pennstreet] 10/8/2020 09:05

My 300k purchase this morning not showing yet!