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Excellent, prompt results and we are ramping up nicely ..........
Spike, as you say '2023 is a transitional year' and disruption was to be expected. You wouldn't like a job managing things in Kazakhstan for Altyn would you?!...you seem to have a better grasp of the situation then current lot.
Lots of money being spent, large debt re-payments due and costs which they have to get under control. Although cost of production (currently US$1,344oz) should fall when processing increases to circa 800,000 ktpa.
But still - in theory - profitable.
Nothing really wrong with that update - sales and revenue are slightly down, but anyway we knew about that as it was due to the maintenance activity in Q1.
They might miss budget a bit, but I think it was always optimistic that the upgrades would not impact production and they should still produce and sell around 16-18koz in the second half.
Almost 200,000 tonnes were mined in Q2, so mining has increased by around 50%, so they are well placed to process around 800,000 tonnes next year assuming the capacity is in place relatively early in Q1 which would produce 40-50koz depending on what grades they can achieve.
Overall operationally I think this was a positive update - I always had 2023 down as a transitional year and development is clearly on the right track.
As usual releasing news at last minute and skipping updates doesn't say much for shareholder relations which is holding this back as much as anything.
Looking at previous years they sometimes don't publisha Q2 report separate to the half year. Since it is so late, I suspect that this is one of those years.
Q2 results must be ready for release any time now.
Due any time in the next couple of weeks. Gold price for those months was excellent, and gold outlook looks superb. One day this will re rate substantially I would expect.
"Strip ratio"
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Current mine is underground.
The more research the better.
Company is >70% owned by the Assaubayev family.
Many thanks RB. I might actually try and attend this one!
Hi there,
I am looking for some gold companies to buy when gold smashes through its all time highs.
I will do my own research into this company but if any knowledgeable holder could/would post a few facts like:
-Strip ratio
-Debt
-IRR
-Mangement
or any other useful facts for new potential investors it would surely be useful.
Thanks,
The Annual General Meeting of the Company will be held at Langham Court Hotel, 31-35 Langham Street, London W1W 6BU, United Kingdom on Thursday 22 June 2023 at 11.00am.
It's a pity there wasn't a Q1 update in Mid May ... I suspect the lack of announcement has caused the downward drift.
However if production has increased as expected and talked about in early May and knowing that gold has averaged around $1950 so far this year, we really should be looking at 2023 profit not far off the current market cap !!!
I still see fair value somewhere around 275p on current 2023 forecast
Does anyone know when and where the AGM is this year? Must be soon but can't seem to see it posted. And hopefully we'll get some meaningful updates on how this year is progressing so far. Many thanks.
Buster - looks like we're back on track !
I'm invested with a few "oily cowboys" as you put it .... not least Maris at HUR and Ciclitira at LVCG who amply demonstrate that the FCA is toothless as a regulator, that shareholders don't really own the company and that scheming BoD members can get away with murder. However I've never got this impression from Assaubayev's ... they just don't want to be diluted themselves by some "oily" VC or outsider. The annual report states the £3.5m was spent on "community" projects at the government's recommendation as a one-off ... greasing the wheels of greasy governments is unfortunately how business works in third world countries. I don't like it ethically but we have to live with it or invest elsewhere. I'm rather more interested in mining tonnage increasing from 527t to 760t in 2023 ... that could see us hit $100m revenue this year.
Onward and upward, the rewards of patiences are coming !
RTB . I would not trust these lot as far as I could throw them .bunch of oily cowboys ,
I don t trust them at all , everything they do is lies and bad . stealing cash now ?
Adam, I think they are involved in building a school/college in the local town but I'm not sure if that is the answer. I'm sure such transactions have the possibility of making auditors a little 'twitchy'.
The previous auditor ran into trouble with quite large construction projects not covered by a formal contract (or something similar)....I think we put it down to 'that's how things are done in Kazakhstan'.....although the management promised to do better.
I note the have their AGM in London. Always a good sign when they make some/all execs available to interrogation by the plebs. I'll aim to attend once the accounts are finalised and the AGM called. Note to self - enquire as to the nature of that sponsorship programme...
Almost to be expected from ALTN. A brief look at the numbers in the RNS and I was wondering what 'Admin Expenses - sponsorship programme' of £3.654m means....that's quite a chunk of cash not being spend developing the mine.
Hopefully the auditor gives them a green light.
Just freed up some cash in my SIPP to add to my ALTN holding
This RNS is a joke on many fronts, not least why they didn't request immediate suspension to have this technical issue sorted by the time trading resumes. Nevertheless I've added £10k expecting a 25% profit within the week.
Hopefully Littlejohn publish next Thursday and suspension lifted on Friday 5th with the sp returning to 150p instantly.
... but we might have to wait for the Coronation holiday on 8th to pass before the resumption in trading.
IMHO everybody invested should add on this aberration
You make a reasonable point. Don't expect a fast recovery and other things can get in the way neutralising the good news of audited accounts finally being ready.
There's always a danger that with a large family shareholding they use the company as their personal piggy bank. However from my cursory look through RNSs and accounts plus the 30p fall in the price in the last few days, there is a lot of pessimism already built into the price.
If this comes good it will imo be a slow burn...
When do you think the share price recover ? This share never seems to go up just a long term down trend the directors are bunch of cowboys , where iare the ramper s now gone back to their caves I suspect . Baldie only comes out when good news is out ?
Notice how this has been released on a Friday ?
Very sly .
I've been through this process with GDP and as far as the accounts were concerned it all worked out OK. Power cuts effecting operations were a different matter and for a different Board.
In the meantime quite happy with the low PE and conservative value. With a P/E of 2.5 price of 50% NAV and seemingly large reserves and resources lasting at least 10 years with a steady if unspectacular profile of steadily increasing production looks interesting. Yes the jurisdiction is not up to Western standards but if that's your priority then try ScotGold. Ha ha
Baldie you coming out of the woodwork ? What are your thoughts on today,s *******ed up R.N.S.
As per usual the clowns are at it again ?
Why would everyone take this seriously now !
"Given the incredibly low salaries and mediocre cars in the car park (someone posted a link to it on Google maps once)...."
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This is great. Is there a live feed?...I can watch them making me money.
Given the incredibly low salaries and mediocre cars in the car park (someone posted a link to it on Google maps once) I'd say money will be going on development - they seem to do this much cheaper than similar mines
Watch out Baldie is out of nest and share price is flying !
L.O.L .
Baldie the Eagie Ramper flys his nest .
They seem to be awash with development money. A big loan from a bank, the bond yesterday and even some profit. Lots of money to invest in expanding production. Looks like it's gonna be a busy year for somebody.
Gold plated toilets have been ordered for the executive washroom I hope....priorities!