Altyngold Share Discussion Threads

[harrisun] 19/1/2021 10:36

With the spread as it is, its not likely to encourage investors. Happy to hold and add if my order price is triggered.

[onedayrodders] 19/1/2021 08:31

It's hard to read 'unleash' and 'ALTN' in the same sentence Wish I had a CCTV link into the brewery ;0)

[excellance] 18/1/2021 19:53

they will unleash ALTN when the time is right...and that time is coming!

[cyberbub] 18/1/2021 19:23

Interesting. I'm just asking because I've taken a chunk in FAR and was wondering whether to buy more.Sounds like he was fairly hit-and-miss at HMB then... I think/hope FAR may be different, as he seems to have learned his lesson and is building up operations more gradually, and also has a manager for the small scale existing operations. The resources over there also seem much easier to mine and the capex required is modest. He's got a big holding there but still owes his ex money LOL...Anyway it's good to get a bit of background on the guy - thanks.

[vish65] 18/1/2021 19:08

I dont recall a high profile mine manager while he was CEO. He was pushed down to a NED roll on the board when he couldn't handle the mine and a new CEO came in who had a mining operations background. Then the family pushed them all out.

I think he owned a fair chunk of hambledon (20%?) and saw it as HIS company. No delegation and too much penny pinching. He was committed to funding the U/G from the open pit mining operation but there just wasn't the positive cashflow to do it

[vish65] 18/1/2021 18:39

Cyber , he's an accountant by trade and was not really suited to the ins and outs of running a mine. Hambledon also suffered from lack of availability of spares to keep things running. He didn't do any PR either.

Poor bloke, he lost a ton of money when the Assaubayev's pushed him out and then his wife divorced him .

[stockknobjockeyvanbookstino] 18/1/2021 18:27

To be honest Cyber, it was hard work, we had a boiler blew up within weeks of the mine being made operational, (I think it killed a worker) and then a couple of years later the tailings dam leak into the local river, killing everything in it and poisoning the drinking water.....

[tightfist] 18/1/2021 18:22

Never formed an opinion about N Bridgen. But I do know that 7 trades at an average of £46 smells dodgy.......

[cyberbub] 18/1/2021 18:13

O/TDoes anyone here from the Hambledon days have any view on Nicholas Bridgen and his reputation? Was he considered generally OK as a CEO? I gather from earlier posts that there was an incident with a tailings dam etc

[brasso3] 18/1/2021 17:11

We need some news flow here...

[excellance] 18/1/2021 17:10

We know it's gonna happen, but we don't know the extent of the required maintenance taking weeks or even months of production away from us.

[highly geared] 18/1/2021 13:59

Excellence, like deja vu from this time last year. Everyone deserves a second chance ..

[excellance] 18/1/2021 13:56

Very close.

If we produce 7500oz per quarter, this year, looking to double that next year, then the share price will respond spectacularly.

We just need to see that all of this Capex, time, effort, are making a difference and targets can be hit.

At this price this is a bargain, but only if they can deliver.

[highly geared] 18/1/2021 13:48

So, for African Resources (c.70%) owners of share capital, £2.55 is B/E excluding debt.
Would expect them to want to at least double or treble their investment, ex debt lay down.

So, where are we on the plan to get to c. £10/share in new money?

[excellance] 18/1/2021 12:51

The mine is making an operating profit, but then we have to consider management of loans.

Good news can be withheld legally if it is for the right reasons, confidentiality and commercial advantage for example.

PR is always optional, but nobody will undertake a PR campaign if there is little point. If you have an overhang from an unsupportive party, thy waste energy doing presentations and broker notes for them to just dump into?

Let the weak hands leave without help, then build the share price up once the register is supportive.

Nothing illegal about that.

[jc2706] 18/1/2021 12:39

I doubt it. Considering their break even point at a gold price considerably lower than current, they would have to be severely incompetent, corrupt and/or excessively unlucky not to make a go of it subsequent to the investments.

[shaf200] 18/1/2021 12:14

Thinking whether to buy a few more... just concerned that this might go bust...

[tightfist] 18/1/2021 09:32

So maybe the RNS on 8th December was to just keep them legal - but designed to be sufficiently opaque so as to ensure one gets little sense of progress......

[jc2706] 18/1/2021 09:22

Excellence.

Whether they do it or not is irrelevant, it IS illegal.

[excellance] 18/1/2021 08:22

😁

Not true.

Companies withhold information all the time.

[jc2706] 18/1/2021 08:16

"At another company who were in a similar position the CEO told me that they wouldn't release positive news or broker notes until the weak hands were finished"

Interesting. He does realise that is illegal, doesn't he? Market sensitive news should be released when it is available. Not that the market regulators would do anything about it of course.

[redtrend] 17/1/2021 13:49

African Resources (Assaubayev family) bought/ converted:

- 498,254,976 shares at 2p originally
- 583,648,617 shares converted at 3p (16-Dec-2013)
- 358,172,447 shares issued for $7,790,251 (0.22p) (Feb-Mar 2014)
- 117,730,632 shares bought from Blackwill at 3p (17-Jan-2018)
- 233,333,333 shares converted at 3p (Feb-2018)

That creates an overall average of 0.255p or post 100-1 consolidation, 255p

[excellance] 17/1/2021 13:42

The 5% for FF were 154,000,000 shares for $1.5m or USD 97c per share, about 78-80p each.

I think the reason we dropped from 300 to 100 was because of the overhang as FF dripped them onto the market, plus of course the slow progress of ramping up on the ground.

At another company who were in a similar position the CEO told me that they wouldn't release positive news or broker notes until the weak hands were finished.

So, are FF out now?

Is production about to show improvement?

It can't be long now.

[stockknobjockeyvanbookstino] 17/1/2021 13:33

They bought 60% at 2p, then another 9% at 3p. Converted a lot of loan notes and bonds also at 3p (share price at time was half that). Been shares issued since, more recently 5% to Freedom Finance.....