Altyngold Share Discussion Threads

[stevea171] 20/6/2023 11:16

PP. You are way off the mark. I worked for an engineering company and I agree with what Ex says above in post 10355.

[pensionplanner] 20/6/2023 11:10

Steve: They raised finance to increase production, and inevitably that means delays in implementing it which would affect current production and the adverse weather is easily ascertained as being true

[excellance] 20/6/2023 11:02

Every company I have ever worked at have reported similarly. I can remember working on a test project that failed spectacularly in that the test proved we couldn't do it, yet the company stated it was a total success.

On another occasion a company gave awards to two managers who oversaw an accident...that was their fault!

At ALTN we can only go with what they tell us, and follow the money.

[stevea171] 20/6/2023 10:11

"planned mtnce" my foot!

With ALTN everything that affects production negatively is "planned" or weather related outside of their control. If this was the case why do they never in advance, .... in advance, ..... report such "planned mtnce". They never do.

They know they can get away with these probable lies because shareholders don't have access to key data (by design).

[pensionplanner] 20/6/2023 09:58

Steve. You are rather selective in what you post. We all knew there would be delays/production drops, as when you put in planned maintenance or have changes occurring in mines there is obviously a delay before higher production kicks in.

Surprised at market reaction really, as it was obvious, but then I bought a few more so no complaints

[excellance] 20/6/2023 09:24

The "planned maintenance" had a big impact.

[stevea171] 20/6/2023 08:53

2 months late Q1/23 production report appears. Easy to see why vs the 'company is too busy' to put out these few lines by the chief apologist here.

Gold poured and revenue 25% down on a year ago.

Is this why they have been 'too busy"?

19/06/2023 7:00am
UK Regulatory (RNS & others)

AltynGold Plc ("AltynGold" or the "Company")

First quarter 2023 production update

AltynGold is pleased to announce its 1Q23 production update.

Highlights:

-- Implementation of the growth plan is progressing well with the delivery
of new mining equipment (LHD CAT R 1300 - 4 pcs., dump trucks AD-30 - 2
pcs., vertical sinking complex KPU- P - 1 piece, etc.). Ore mined
increased 4% year on year to 139.8kt swiftly recovering from the
abnormally low level of 4Q22 of 118.6kt due to extreme weather. In April,
ore extraction volumes reached 66kt in support of the full year
production target of 750kt/y.

-- Processing plant capacity expansion to 1.0 million tons/year is also
making good progress. The "VNIITsvetmet" design Institute is finalising
project details and contracts were already concluded for the supply of
the required equipment (mill 4500 6000, a three-stage crushing complex, a
hydrocyclone pump unit and three additional leaching tanks with a volume
of 800 m3 each etc.). The expanded processing capacity is expected to
take effect in 1Q24 without incurring any hindrance to current
operations. During the period due to planned maintenance at the crushing
facilities, milled ore declined 22.6% year on year.

-- Reserves development is being accelerated with the preparation of ore
bodies No. 11, No. 6-8 and No. 5-5 at +84m horizon and transport slopes
No. 1 and No. 2 at +67m and +50m elevations respectively. Grades
retreated slightly to 1.9g/t from 2.03g/t from a year ago as a result of
the clawback effect from selective mining in 4Q22 when grades reached
2.49g/t. This measure was taken in order to offset the decline in mining
production due to extreme weather over the previous quarter.

-- Revenues at USD11.15m were temporarily impacted by reduced volumes
given maintenance activity as noted at the crushing facility.

1Q2022 1Q2023
Ore mined tons 134,461 139,837
Contained gold ounces 8,841 8,869
Ore milled tons 151,431 117,235
Average gold grade g/ton 2.03 1.90
Gold poured ounces 8,129 5,902
Revenues US$ 14.38 11.15

[excellance] 19/6/2023 10:47

I do wonder what the gold price outlook is considering we are passed half way in the tightening phase of interest rates.

[excellance] 19/6/2023 10:45

Bewildering market response.

I think that the revenue numbers are slightly light, but during development that usually happens, although they say it was maintenance issues.

The production number is great, but obviously the rest of the business needs to support that going forward.

So positive indications, but work still to do, broadly happy with today's report.

[gizmohican] 19/6/2023 10:24

The 66k for April is very positive indeed, got some more this morning a see some big advances to share price here over the next 6 months to a year.

[pensionplanner] 19/6/2023 08:46

yes, I will tuck a few more away

[excellance] 19/6/2023 07:58

Yes, the 66k number is a stand out even if it averages at just 60k for a few months.

[golden prospect] 19/6/2023 07:42

Growth plans look very well positioned, especially given "In April, ore extraction volumes reached 66kt in support of the full year production target of 750kt/y."

[excellance] 19/6/2023 07:35

Q1 numbers out.

Making progress, but numbers flat as expected as development takes place.

By Q1 24 we should be seeing a big difference, and that really isn't too far away.

[beerboy02] 16/6/2023 19:04

Daily and weekly charts looking very good with a nice bit of volume as confirmation onward and upward.

[chrisdgb] 16/6/2023 11:25

Interesting.......

[excellance] 16/6/2023 10:06

Looking sprightly today!

[excellance] 15/6/2023 17:06

Double bottom, trend reversal, breakout?

[bsg] 14/6/2023 13:12

Has Mr 10K made a return?

[researchcentre123] 10/6/2023 06:43

Well they were late with the annual accounts although they had a years notice - but the accts were fine. I don't think there is such a legal imperative for quarterly updates so I don't see that they'll be in any rush.

[excellance] 08/6/2023 20:08

Surely it doesn't take a lot of effort to tally up a few key indicators, that they must know in order to run the business, and put them on a short note to market as they promised?

So assuming they bother to measure business progress it isn't asking too much to share said data, unless there's a good reason why they can't.

So, what good reason could there be for not releasing the Q1 data?

[researchcentre123] 08/6/2023 16:49

I don't think there's some big action going on here excellence - just the management more concerned with running the business than making great efforts at PR. My guess is they can't be bothered until they've built up the company some more, when the market will get excited no doubt

[excellance] 07/6/2023 19:29

Meanwhile, housing market news points to a major downturn, worst in at least 30 years, due primarily to interest rate rises sucking the life out of economies, and gold is at $1940

[excellance] 07/6/2023 19:25

Still hoping to get Q1 numbers before Q3.

They really aren't giving us anything to talk about, playing their cards very close to their chests.

Can't help thinking that something is going on behind the scenes.