Altyngold Share Discussion Threads

[j4yjaybee] 28/11/2022 23:02

Original purchase price was 2p

[sloppyg] 28/11/2022 19:25

Stock - I recall you have been a long term term bull here with a significant holding. Out of interest any reason for the change of stance at these deflated levels ?

[1hughb] 28/11/2022 19:08

Video on with Altn in it:

[golden prospect] 28/11/2022 16:04

It could be the market wanted to gap fill, just a thought

[rimau1] 28/11/2022 15:41

I’ve taken some more at 78, my overall feeling is gold should do well when the western economies pivot and the dollar falls. No idea when that will be but this is cheap and the directors are prudently assuming a gold price of 1700 for the rest of the year which i think we shall exceed. I have a core holding and buy and sell a trading portion on the volatility as this moves both ways quickly, i’ll sell these when we get back into the 90’s.

[stockknobjockeyvanbookstino] 28/11/2022 15:29

I've sold 90,000 shares over the last two days, Price has stayed resilient I have found. Thats it for the moment.

[bsg] 28/11/2022 15:17

NMS is 3k. Off to 50p?

[palisz] 28/11/2022 14:05

FYI...Ooops My bad.

[excellance] 28/11/2022 12:20

Strange how Ukraine isn't in the news these days. Is it boredom or will we see peace soon?

[excellance] 28/11/2022 11:15

The family are currently well out of pocket, but presumably believe they will come out smelling of roses...eventually.

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] 28/11/2022 10:02

For me the west have been utterly reckless in provoking the Ukraine war, to expand the EU and NATO, and the sanctions are a disaster.

The biggest risk to Kazakhstan is if they're put on the spot by either side to choose sides and the USA impose sanctions.

[teaboy100] 28/11/2022 09:36

Probably the news article regarding Kazakstan and Russia over the weekend.

[researchcentre123] 28/11/2022 09:26

Gold price goes up and altn goes down.....what is going on here?

[excellance] 26/11/2022 16:50

The capex required as outlined above amounts to US$38m, and will be largely met from funds raised from operations. In addition to this an amount of US$75m will be required to bring the Teren-Sai project on stream, as it will require new processing facilities and infrastructure to be developed at the Teren-Sai site. In the initial period the site will be stripped and made ready for open pit production in order to move to production efficiently once the necessary funding is in place. The brokers who are providing sponsored research and opening up opportunities for investor funding will play a key role in moving the projects forward.

The Board are constantly looking to diversify and invest in new and complementary operations in Kazakhstan and internationally, however the primary driver at present is to bring the Kazakhstan gold sites, as outlined above, to their full potential.

[excellance] 26/11/2022 16:15

For me the intriguing thing is their statement about looking for opportunities in Kazakhstan or beyond, at a time when they are exploring funding arrangements for TS.

To me this is clear evidence that they are planning acquisitions disposals or some kind of JV, merger or takeover.

Let's face it, DD has been done, and the silence speaks volumes.

[excellance] 26/11/2022 16:12

TS development has slipped by a year or so. No explanation why.

[excellance] 26/11/2022 16:02

This is key..

"With the Company gearing set to go down with the repayment of the bond listed on AIX and the scheduled repayment of the bank borrowings, the Company are looking at a number of possibilities to raise further funds."

[excellance] 26/11/2022 14:19

So I think the overall take from all of this is that we will soon see a financial restructure of debt, certainly including bond repayment and $40m loan. The question is how we'll fund the $75m TS development given our historic reluctance to dilute.

It has to be either from equity issue or from a third party.

The coming weeks are crucial for ALTN holders.

[excellance] 26/11/2022 12:51

Cash paid to purchase property, plant and equipment represents additions of US4.9m (2021 :US$4.2m) (note 6) plus the cash amounts paid as a result of the net increase in prepayments/payables of US$6.9m from the prior year.(2021 a net decrease in prepayments/payables of $2.1m).

[excellance] 26/11/2022 12:46

The significant change in the financial position of the Company relates to the movement in advance payments made to the contractor who is responsible for the capital development and ore extraction services. As the development has progressed and production growing, the payments have increased in the period. The current contract runs until April 2023. A monthly drawdown and reconciliation against monies advanced is done on a monthly basis as the mine development continues. The Company generated an EBITDA of US$16.6m (2021: US$13.4m), but a substantial amount of this was absorbed in the period by the capex development prepayments as noted above.

As of 30 June 2022, the Company had cash balances of US$1.1m. A loan in principal has been agreed with Bank Center Credit in Kazakhstan, there are sufficient projected funds from this and from current trading to meet the Company’s medium term plans. This includes the repayment of the US$10m bonds that are due for repayment in December 2022.

[excellance] 26/11/2022 11:48

Isn't the forward payment more of a cost hedge/tax mitigation scheme in view of our chunky profit situation?

Sound financial management is actually the biggest risk to any business. Are we sound?

[sleveen] 26/11/2022 09:59

In Q3 $6m cash was generated. Q4 likely to be perhaps $7m.

Agree the forward payments are a niggle.

[goldenshread] 26/11/2022 09:01

I have been considering the continued weakness in the share price and am wondering if it has anything to do with the $10m bond repayment scheduled for December.

If I am reading the recent half year results statement correctly this bond repayment is linked to the $40m loan that has yet to be formally secured.

I am still very unhappy about so much cash ($7m-$9m) being forward paid to the mining company, the share price has never ever recovered from the auditors concerns over this practice, it also leaves a rather low cash balance at Altyn of only $1.1m as stated as of 30th June.

The company seems well run and management look to be on the ball, these are genuine concerns that could be affecting sentiment nonetheless. The poor PR does not help, if they conducted Q&A sessions or media interviews it would allay fear but they remain reclusive.

[excellance] 26/11/2022 01:52

So it's all happening...

In December we repay the bonds.

In 2023 we ramp up Seki to 850kt then 1mt and 2mt in six years, funded largely from profits.

We are also planning to bring area 2 TS into production, which will cost $75m.

We have new directors and employees who have the skills, particularly in accounts, funding, sales, and tax, to execute project finance.

The question is, will there be an equity contribution, and will there be third party interest, ie POLY?

[excellance] 26/11/2022 01:43

Longer term plan

The Company has a had a successful year, with the capex investment increasing ore extraction from the Sekisovskoye site which increased to 570ktpa. The aim remains to move this up to 1mtpa, and budgets have been drawn up and funds allocated to expand the existing capacity of the processing plant to 1mtpa within two years. The longer term aim is to increase the ore extraction towards the 2mtpa within a time frame of 6 years.

The capex required as outlined above amounts to US$38m, and will be largely met from funds raised from operations. In addition to this an amount of US$75m will be required to bring the Teren-Sai project on stream, as it will require new processing facilities and infrastructure to be developed at the Teren-Sai site. In the initial period the site will be stripped and made ready for open pit production in order to move to production efficiently once the necessary funding is in place. The brokers who are providing sponsored research and opening up opportunities for investor funding will play a key role in moving the projects forward.

The Board are constantly looking to diversify and invest in new and complementary operations in Kazakhstan and internationally, however the primary driver at present is to bring the Kazakhstan gold sites, as outlined above, to their full potential.