Altyngold Share Discussion Threads

[palisz] 26/5/2023 13:02

Thank you, you just proved my point.

[stevea171] 26/5/2023 12:59

Palisz. You have just proved one thing. You are as unreliable in your statements as are this management. Birds of a feather?

[palisz] 26/5/2023 12:59

They got a top 10 accountant, they are concerned about both PR and getting a co. broker, but it's not easy, costs, and no point if it's not a reputable broker or experienced pr.. It would be worth addressing these issues at the AGM, but when a company is this small and majority owned with 70% of the shares tied up, it's really not worth a broker doing the work! They clearly believe results are what matters, and they are delivering.

[researchcentre123] 26/5/2023 12:49

Stevea you didn't attend the shareholders meeting last year which both I and two others did. Aidar had COVID but attended thru zoom. We each sat down in turn and asked all the questions we wanted. Nothing was not answered and I think we all went away satisfied.

[palisz] 26/5/2023 12:49

I've tried to help. Your forever slagging off the company, I just hope you don't address the board the way you write on here. I wouldn't answer either.

[stevea171] 26/5/2023 12:28

Further to AGM questions.
Questions are not reported verbatim as asked. ALTN see fit to alter the wording of shareholder questions to suit themselves and answer accordingly.

How can anyone have the slightest trust in management who behave in the fashion I am describing?

[stevea171] 26/5/2023 11:53

My questions were the only email ones submitted to the AGM that got through last year.

They made up their own questions and answered them to give some detail concerning the audit difficulties delaying the AR and resulting in audit qualification. Also to make it look as though shareholders not attending the AGM could ask questions.

[stevea171] 26/5/2023 11:41

Palisz. You are mistaken. Questions were not invited for the AGM in 2022. Show me your evidence. Questions WERE invited for the AGM the previous year - 2021.

You say last communication was 'last Sept'. So you did not send questions for the AGM which is what I am talking about.

I have now added to my post above that documented my email attempts to contact the company prior to the AGM. There was no explanation for ALTN taking down their email ahead of their AGM.

[palisz] 26/5/2023 11:28

Questions were invited, emails get answered, My last communication was last Sept, I don't publish private correspondence. Nothing was insider info, just general questions. Regarding accountant, broker pr etc.. accountant since appointed.

[stevea171] 26/5/2023 11:11

Palisz. What questions did you ask last time, what were the answers and as questions were not invited how did you communicate?

I have questions each year and I know I had to employ the services of a non-exec to ensure my questions got through last time.

Plse see below the UK office switched off their email ahead of their AGM to prevent any communications.

28/6/2022
Dear (Non-exec),
I am trying to contact AltynGold ahead of the AGM on 30/6.
The only email address I have is:
[e-mail]

Sending mail to this address today resulted in the mail being returned after multiple attempts to deliver.
So the company makes it impossible to be contacted by shareholders.
Do you know why this is and do you have an alternative?
many thanks,

[palisz] 26/5/2023 10:55

Steve,..Have you tried writing your questions?
I have, and get answered every time. FYI.

[stevea171] 26/5/2023 10:33

It seems there were no operations at ALTN in Q1 as the Q1 production report has still not been filed.

Would they even bother to tell shareholders if this was the case given their near zero communication policy and zero PR which are direct causes of the present share price and present valuation of the company (£29 million) .... ?!

AGM coming up next month. Watch them try to avoid answering any questions by shareholders not attending as we saw last time and we know that only a handful go along to the meeting. Covid was a wonderful excuse to keep shareholders away but won't be coming to their rescue this year!

[mikro1] 24/5/2023 23:54

But they have been very considerate of shareholders (converting their debt at 3p) and have not delisted to date. Given that I am confident enough to have a large shareholding here.

[sloppyg] 24/5/2023 22:02

Indeed. Always been the ultimate risk here.

I think there is a misconception that a delist involves a reasonable offer to SHs to take it private; to the contrary just announce it and it’s 20 days to all scramble for the exit or take your chances on being able to trade on a different exchange.

It’s the main thing holding it back imo. One cannot over commit as the bombshell RNS is always a possibility despite the apparent upside. You pays your money……

[tightfist] 24/5/2023 21:20

Interesting and disturbing point; the U.K. listing is increasingly looking a dead-duck for capital raising, with dilution and share price issues. The recent bond issues through the Astana exchange are (with some assistance) set to deliver both the capex and, potentially, the bacon.

[bsg] 24/5/2023 15:19

May be they haven't quite got capitalism right yet so they want to keep all the profits in country. Instead of some share holder in some far flung land getting their cut(the UK).

[bsg] 24/5/2023 14:58

That money could of been a nice divi payment.

[mold breaker] 24/5/2023 14:56

I’m not disputing the sponsorship of local community projects is a good thing, but at present there’s no clarity for how many years at what cost. THIS year’s accounts it was a huge % of the net profit.

[king suarez] 24/5/2023 14:50

They said the sponsorship was a contribution payment towards building a university library that they had committed to in the prior financial year(s), but who knows!

[researchcentre123] 24/5/2023 14:45

I think it's important to sponsor projects in the community to get local support, mould. Those are things I imagine you have to play by ear a lot - they've been losing money for years and doing nothing, so maybe it's a good time now to help out.

[mold breaker] 24/5/2023 13:56

“Additional amounts were paid in relation to government initiated sponsorship of community projects, these amounted to US$3.6m, together with fees paid in relation to project appraisals and consultancy amounting to US$3m. These fees are not expected to be at the same level in future years.”

Whilst they don’t expect “project appraisals and consultancy fees” to be at the same level in future years” there is no mention if the “sponsorship of community projects” was a one off or would continue at similar levels?

[excellance] 24/5/2023 12:32

At least energy costs are down considerably from their highs.

We'll have to see how the invested cash improves revenues and profits going forward, but regardless the debt is in place.

[researchcentre123] 24/5/2023 11:54

Given an unstable world funding local projects might be the insurance available

[mold breaker] 24/5/2023 10:20

The increased admin costs and funding local projects has “taken the wind out of (one’s) sails”.

I’m still positive long term but the above can’t be at similar levels in next years audited accounts.