Altyngold Share Discussion Threads

[golden prospect] 01/10/2020 06:38

Given the high selling price of gold it is still very disappointing to see low sales, poor recoveries, small free cash flow and tiny net profit. The option associated with bond financing is still a bitter pill. Results after market hours disrespectful, despite time zone difference. Apologies to have this different view as reserves/resource read as inviting.

[excellance] 01/10/2020 01:08

$3.9m operating profit for H1 2020

Nice

Will only increase from here.

[excellance] 01/10/2020 01:06

I think UK regulations prohibit issue of free options, but the price could have been ridiculously low.

[cyberbub] 30/9/2020 23:25

I'm pleased to see that Freedom Finance had to actually pay for their shares - I think quite a few of us thought (from previously unclear RNSes) that they'd got them for free!!...Generally looks like good progress to me.Now we just need to hope that the POG holds up to a decent level...

[bo doodak] 30/9/2020 23:23

6.25pm - ridiculous time to release the results, but otherwise looks promising.

[cyberbub] 30/9/2020 23:21

Buy more then Kev! ?

[cool hand kev] 30/9/2020 23:18

I’m only 43% down here so a 86% rise would see me break even 😂 which is quite possible

[highly geared] 30/9/2020 23:15

Similarly pleased with the results. The real kicker will be 2021 with all major plant refurbishment done, all new equipment bought and operating etc.

H2 run rate is 45-50ktpm, so this should deliver 14,000 oz.

FY 2021 should see 50,000 oz with mine start up at TS to follow.

One to hold and accumulate..

[excellance] 30/9/2020 22:25

I think the plan is to upgrade and enhance production and development significantly, and this is why they raised all of that cash last year.

It's impossible to upgrade or replace capital equipment without a little disruption.

Looking good, can't wait to see how this develops over 18 months.

Very pleased I've been adding relentlessly.

[sloppyg] 30/9/2020 21:20

Agreed first quick read seems positive and no shocks !

Only slight caveat is there is reference to the fact that processing maintenance is rolling over into H2. I have a feeling that Q3 will again be impacted by milling downtime.

[vish65] 30/9/2020 20:54

Yes a good read .Pleased and relieved !

[excellance] 30/9/2020 20:53

What a brilliant report!

We have clarity on the 154m options which are to be exercised at 0.75p

Ore mined has improved significantly to about 50K tonnes per month, tho grades were lower at 1.5g as already explained previously and as expected.

Profit has trebled, yes trebled!

Loads of cash in the bank.

TS development starting to firm up.

Delighted with this report, including the options situation. 0.75p may seem cheap but remember it was an incentive and in theory they could have been issued at a nominal 0.01p so 0.75p is great news in my opinion.

Will we bounce tomorrow?

I should think so...

[roguetreader] 30/9/2020 20:46

First impression, looks like decent progress being made, looks like H2 should be even better. Things are looking up :)

[avsome1968] 30/9/2020 20:40

6.30pm results ? all looks good to me.


Highlights:


Mine development

-- Ore was mined in the period from several ore bodies at different depths,
including ore bodies 1, 2, 5, 6, 8 and11.
-- A number of ore bodies have been prepared for production in H2 2020, ore
bodies 1,10, 11 and 14.
-- Extensive capital development completed in the period lowering transport
decline 1 to +178masl and transport decline 2 to +163masl.
-- A significant level of maintenance was carried out on grinding mills 1
and 2, and a fine crusher added to the production line, in addition
maintenance was carried out on the sorption tanks and other parts of the
processing plant.
-- Exploration continued at both Sekisovskoye and Teren-Sai, involving
extensive drilling and core sampling to delineate the ore bodies and
provide further detailed information in relation to the geology of the
area.

Production

-- Ore extracted in the period was 235,324t (H1 2019: 99,000t), the current
monthly run rate is circa 45,000t-50,000t.
-- Gold recovery averaged 79.8% during the 6 month period (H1 2019: 81.53%).
-- H1 2020 gold production from Sekisovskoye was 6,990oz, compared with H1
2019 of 5,561 oz. The level of production in the period was affected by
the scheduled process plant maintenance which was largely completed in H1
2020.
-- The actual milled ore was 186,966t (H1 2019: 114,000t), in the current
period.

Financial

-- The turnover has increased to US$11.5m (H1 2019: US$7.2m). The gold price
achieved averaged US$1,693oz during the period (H1 2019: US$1,308oz).
-- The Company made an operating profit of US$3.9m (H1 2019: profit of
US$1.3m), with a net profit before taxation of US$1.0m (H1 2019: loss of
US$0.6m).
-- The total cash cost of production was US$926oz (H1 2019: US$1,015oz).
-- EBITDA achieved was positive at US$5m (H1 2019: US$1.5m).
-- During the period cash funding was raised from the Company's existing
facility with Bank Center Credit of US$7m and a further placing of the
bonds on the Astana Stock Exchange of US$6.9m (net of expenses).
-- Cash flow from operating activities was positive at US$1.3m, (H1 2019:
US$0.4m)
-- Cash balances at 30 June 2020 were US$7.9m.
-- Freedom finance JSC have given notice that they will take up the share
options issued to them resulting in an additional 154,028.981 shares
being issued at a consideration of US$1.5m.

[excellance] 30/9/2020 20:38

Freedom finance JSC have given notice that they will take up the share options issued to them resulting in an additional 154,028.981 shares being issued at a consideration of US$1.5m.

[tim000] 30/9/2020 20:14

Results look good to me too. Steady progress is being made on production and costs continue to be very well controlled, resulting in a small profit. As we all know, H2 should mark a substantial turnaround in profits and cashflow.

[nevgroom] 30/9/2020 20:07

Nice- As I understand it then, Freedom had options to buy at around 1p, have taken up this option so now have 154m shares. I guess the question is, how much do Freedom need the cash?

All in all though, a very encouraging set of results especially given the loss of Q2 production due to mill servicing.

[mikro1] 30/9/2020 19:55

Really pleased with these results. I had started to worry they would never achieve the production ramp up but it sounds like it has now started to ramp up properly. I also like that freedom finance had to pay To get the shares and am Very pleased that their shares will significantly increase the free float. I’m relieved and optimistic.

[stockknobjockeyvanbookstino] 30/9/2020 19:25

Good news, well done. Even raising a further $1.5m from the Freedom Finance shares I see.

[king suarez] 30/9/2020 19:23

Yes, not bad.

At a current run rate of 50,000 tonnes per month at say 2g/t with 82% recovery and cash cost of $920/oz gives around $30m annual operating cash flow going forward.

Once these share options have cleared (depending on how many already forward sold) then the market cap should get back towards £100m in the next 6-12 months if gold stays at this level imo.

[hubs] 30/9/2020 18:57

Reads good to me. No nasty surprises. In profit.gla

[keepitsimple] 30/9/2020 18:47

Half year results are out!

[gregpeck7] 30/9/2020 18:46

Half year report out...

[excellance] 30/9/2020 16:10

My guess, and my bet, is that the clock is ticking, time is running out, to get a holding here before true value is revealed. Just 4 or 5 weeks possibly.

[excellance] 30/9/2020 15:09

I have a fairly chunky holding here now, but I'm still waiting for EUA to conclude so I can free up some cash and divest for the future, and ALTN is probably a big part of that, so I'm OK with the share price weakness as it may allow me to acquire a larger holding than would otherwise be the case.

I think my current holding is about 60% of what I would like in terms of number of shares or percentage of the company.