Altyngold Share Discussion Threads

[beerboy02] 04/10/2023 20:39

I can't believe I held this from £2 to £3 and thought it's all onward and upward at 5-10% per day increase, im now starting to strongly worry that the family are playing the game, and taking large salaries, no longer worrying about the long term future.

[excellance] 03/10/2023 18:18

The last RNS mentions higher costs due to inflation, but hard to see clarity in the chaos of wider development disruption.

We obviously now have higher debt repayments too.

And the price of gold was high in H1, but has more recently dropped to 7 month lows due to higher interest rates offering investors better value in bonds.

I expected disruption, even if the naive board didn't, but I hope that is largely behind us now.

It will be nice to get clarity on TS when that arrives, allegedly Q4, but because of continual delay and silence from the board I really don't expect much if anything coming from it. It may be very marginal mining geology.

[excellance] 03/10/2023 18:12

Poly were sanctioned because of their Russian links.

TS licenses were amended and resubmitted.

[stevea171] 03/10/2023 12:29

To be added:
Assaubayev's MBO or other shut out of shareholders
Assaubayev's cancellation of London listing as per Polymetal.
Kaz Government further taxes or increase in taxation
Government legislation to take free carry of likely 15-20% in miners
Government non renewal of Teren Sai leases.
etc etc

[excellance] 03/10/2023 11:32

The risks here are...
-Cost over run due to exchange rates and inflation,
-Geological disaster, ie mine collapse,
-war and sanctions,
-fall in gold price,
-labour disputes,
-local disputes,
-single asset risk.

[stevea171] 03/10/2023 10:52

The apologists here for this company never stop with their narratives about how nothing is ever down to the management. This is to protect their precious little investments. Not because they believe in anything they say.

Nothing could ever be done better, faster and include shareholders.

According to some they are too busy to put out reports but now we see the real reasons. I hope they will now stop these infantile explanations and get real ....

[researchcentre123] 03/10/2023 10:36

Stevea mines are by their nature chaotic. You're digging and building and you never know what you hit until you do. But they are managing fine, coping with ups and downs of progress and still turning a profit as they expand . In mini g progress simply is not a straight line. You have to build out the mine, processing plant etc and then the money comes in. No point in hoping otherwise

[stevea171] 02/10/2023 13:18

Quote for dummy sell this morning was 85.6p. On Thursday I got 96.5 and 95.5p the day before the company shocked the market with new revelations of negative progress on the last day for reporting H1 results. So I did very well.

I expect now there will be a very long wait before any further news ie no Q3 production report as the precedent has been set with no Q2 report and chaos reigns with the processing facility through Q3 and Q4 with no FY production guidance:

Q1/23. During the period due to planned maintenance at the crushing facilities, milled ore declined 22.6% year on year.
Here they state the mill had 'planned mtnce' but now they change their tune to it being due to 'stoppages and interruptions to normal workflows'. So as expected it was not planned mtnce at all but a reaction to the ongoing chaos.

Q2/23. The initial plans envisaged that there would be minimal disruption to the current level of production. However on a practical level this turned out not to be the case resulting in stoppages and interruptions to normal workflows in the processing plant. Due to the effect on workflows it was decided that it would be the appropriate time to also overhaul one of the existing mills, to coincide with the expansion works. This resulted in reduced volumes of processed ore, in order to manage the ongoing situation, the planned level of processing was decreased going forward for 2023 to 50/55kt a month.

According to some they are too busy to put out reports but now we see the real reasons.

So next news 30/4/24 with the FY results if they can avoid another suspension?
Only 7 months to wait .....

[researchcentre123] 02/10/2023 11:02

They seem to be ok generally at managing costs. Expanding the mine inevitably puts up costs initially as you're building without reaping any rewards, but I have faith they'll build out and do a good job

[excellance] 02/10/2023 09:29

HZM in tatters today, they got their funding estimate, aka feasibility study, hopelessly wrong to the tune of 35% deficiency and six months behind schedule, and now the senior debt holder hold all the aces.

Let's hope our $40m loan is still enough...

[excellance] 30/9/2023 17:24

It's a bit scary, when looking around the world, the number of military coups and lightening invasions...like in several north African states who are challenging their western colonial puppet leaders, or in Armenia/Azerbaijan where the post soviet border is still being drawn, or in Serbia where NATO waged an illegal intervention twenty years ago but that wound is still open and ready to flare up in a flash.

Kazakhstan is right in the epicentre of that global shift in power, west to east, and so far have stayed out of the geopolitical fracas...

This time next year, Biden, Sunak and other European leaders will be gone, but the damage they've done remains.

[excellance] 30/9/2023 17:17

Stinky Steve?

[dofmeister] 30/9/2023 14:46

There's a nasty niff to the 20k shares I bought on Friday, I wonder who had them previously .....🤔

[pensionplanner] 29/9/2023 20:25

To all that sold good luck and just two words

Thank You

[excellance] 29/9/2023 18:38

I "topped up" today.
Mad not to.

[dofmeister] 29/9/2023 13:24

Cost should reduce dramatically if they double throughput into the mill as planned from Q1 24.Not long now, managed to buy this am at 80p, RNS wasn't as bad as some read it.

[excellance] 29/9/2023 12:27

It's as expected, and the bigger picture is that we've secured VERY low rate finance in an inflationary cycle which we may be near the peak of, or maybe rated will keep rising until we get recession?

The backdrop for gold looks good.

This time next year Rodders...

[pensionplanner] 29/9/2023 12:05

As expected but I just got in so only just put another buy in. Let’s see if it’s filled

[sloppyg] 29/9/2023 11:56

Not concerned about the stoppages as to be expected even if management planned for minimal disruption.

However the 50% increase in production cost due primarily to inflationary pressures clearly needs reviewing as it has a material impact going forward. From what I can see extraction cost tax has increased from 5% to 7.5% so fairly minimal impact relatively on production costs. Therefore its the inflation/downtime driving this.

Borrowings gone from 24m at YE to 54m now. In the 54m is a new 10m bond so appears they have drawdown circa 20m of the 40m bank loan. Lots more prepayment but we know the background there.

Until we get some stability in the KPIs cannot see share price improving much. It would be nice also to get a set of accounts that do not have some surprises !

[palisz] 29/9/2023 10:13

1) You are correct about the lack of communication. But you are not correct about them not giving a damn about shareholders. They could have easily diluted shareholders like many miners and wasted money, they don't.
They do care about the valuation, often stated...they are also losing a fortune.
But as you know, they are not English speakers, they struggle to communicate clearly.
They are not great with websites or presentations.
So to full fill your wishes they would need to employ someone for IR, pay for videos,
presentations etc. They'd rather drill a few more holes for the same cost. I know they have looked at the suggestion, They also tried to find a new broker...but with just 7m shares free float no large broker is interested. As they grow this hopefully will change. As for sacking the management...not possible as they own 70% and I'd definitely vote against the idea. Finding a CEO so dedicated and prepared to support this company through really tough times with a big wallet would be impossible.

[stevea171] 29/9/2023 09:53

Let's keep comments honest and constructive.
Why?
BB's are for free exchange of views. Not just for cheer leaders of companies that treat shareholders with contempt.

btw When was the last Proactive interview or Investor meet Company presentation and Q&A? Never. That's when.
When was the last slide presentation?
When did they promote their company to city analysts?

There is none of this because they have never given a damn about shareholders or the valuation of their company or the possibility they could be sacked for not doing their job.

[golden prospect] 29/9/2023 09:32

The key line to note is simply :

"The increased capacity of the processing plant of 1mt a year will be in place from Q1 2024, with work to be substantially completed by the end of 2023.

Delivering on expansion should make for great 2024 results

[stevea171] 29/9/2023 09:21

RC. How long is the waiting game to last? There are investors here who have made nothing in 10 years. Inflation means they have been slaughtered!
What I sold was a small percentage to rebalance my portfolio and continue the process of selling down into better managed companies.
Whilst these Assaubayevs are running things there will never be accountability or professional management.

[excellance] 29/9/2023 09:11

Largely expected, but the previous note alluding to "minimal disruption" was just stupid.

This doesn't change the bigger picture, so long as debt repayments are met without cutting our throats.