Altyngold Share Discussion Threads

[excellance] 03/12/2024 16:06

I'll be much happier when we see the news and no longer have to speculate.

[pensionplanner] 03/12/2024 15:12

Yes, yet news soon. You would be forgiven for perhaps thinking someone wants some cheapies with a license to make money. These shares are not always that easy to come by in significant numbers

[excellance] 03/12/2024 14:19

The chart now looks quite weak, like it could test support at 150p

[tim000] 03/12/2024 11:24

Indeed, the increase was evident in the 2023 figures disaggregated in the AR. But cash costs per oz were still kept close to $1000/oz. They run a tight ship!

[busterhogdog] 03/12/2024 11:23

Spread closed up 193 /196

[king suarez] 03/12/2024 10:24

They already had the 7.5% MET in 2023 from 1 Jan (management commented on this being part of the increase in AISC) so it is not new for 2024. They have recently changed the MET for Uranium, but so far Gold remains at 7.5%.

[excellance] 03/12/2024 10:03

The prospect of a dividend may be set back by the increase in tax to pay. Plus, a 50% increase in tax isn't exactly a deft touch.

[tim000] 03/12/2024 09:45

Prefer McD myself, off there again for lunch today! It looks like the KZT may be about 15-20% lower against the $ in 2025 than for ALTN’s interim results for H1 2024. Could reduce cash costs by a few $million next year?

[researchcentre123] 03/12/2024 09:38

We all have our reasons for selling I guess. I remember in 2022 after I had invested there was a big seller who liquidated his position and the price dropped a chunk - such low liquidity it'll happen until the development completes, dividends start and a new type of investor gets interested. But at current price, doesn't make a lot of sense to sell to me. Better to buy then bring a bargain bucket of KFC to the next AGM where we can all enjoy it with Louie. Louie, you can bring the apple pie and ice cream if you like.

[cyberbub] 03/12/2024 08:36

If Jerry's telling the truth then hopefully that source of sells is now finished.

[pensionplanner] 03/12/2024 08:30

Chances are the sell is from Jerry's tranche, rather than multiple sellers, but where there's always a cascade affect on any holding spreads, which is just what those companies love.

The MET is hardly a surprise, so not concerned at all.

[busterhogdog] 03/12/2024 08:12

Time to buy some more

[cyberbub] 03/12/2024 08:08

Limits seems to have opened up today, I can both sell and buy a lot more than normal...

[cyberbub] 03/12/2024 08:07

What point are you making with your chart, Papillon, from a non-chartist perspective?

[louie2010] 03/12/2024 06:55

Good time to start buying if share price continues to fall lots of small buys could pay once shares start uptrend. We need RR to throw a KFC bargain bucket party .

[papillon] 03/12/2024 01:28

free stock charts from uk.advfn.com

[tim000] 02/12/2024 22:16

KS, thanks. I hadn’t seen 7.5% but obviously that makes sense. cyberbub, I think the chart is probably the best explanation of why people are taking profits. Hoping for a speedy RNS on commissioning to reverse the current trend.

[louie2010] 02/12/2024 22:06

Let's hope seller has run out of shares. Ridiculous valuation of company based on last year earnings puts us back to around pound a share.

[cyberbub] 02/12/2024 22:06

Whoever is selling must be desperate, to sell a producing and expanding miner on a forward p/e of well under 2?Unless they know something we don't? Sigh.

[king suarez] 02/12/2024 21:40

Everything I have read says the MET is going to 7.5% for gold?

I can't find anything more specific about the exemption for new mines either.

The MET appears to be based on the value of ore extracted (with allowance for losses - so presumably based on average recovery rate?) rather than ore sold as it is in most countries! Bit weird, though could be good in a rising price environment if you sell it for more than it was valued when dug up?!

[tim000] 02/12/2024 21:15

Yes KS, that’s the doc I’d read. The final couple of lines state there are conditions to exemption, though I’d guess these were not prohibitive. I haven’t found any doc though that explains in detail how the MET is levied. (The latest rate for gold miners I believe is 8%, up from 5% in 2022. The reference to a 50% increase in the rate is not exactly consistent with these numbers, but is not far off.)

[tim000] 02/12/2024 20:39

I believe Altyn’s Minerals Extraction Tax (MET) rate is 8% of revenues, so about $7-8mn this year. (I recall one poster believes the tax is levied on ore mined, not necessarily processed, so the current accumulation of inventories of ore for the new plant accrues tax, although as it’s not processed I don’t know how the liability can be assessed.)

But I’ve read that new mines are exempt from MET for 5 years from the date extraction starts. Does anyone know if this is correct? If so it provides an extra incentive to get TS into production when gold prices are high.

[cyberbub] 02/12/2024 14:55

The seller is really hammering the bid! :-/