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Baldie you talk gibberish your bullish then bearish , get the feeling your becoming a bear !
Everything is dcodgy with this share , always has been since early days 2007 .
they take the salaries and water down the resources and make a crap job each time promising better times and always goes back to missed production , lies more lies and same old story . bunch of clowns could nt organize a pis up in a brewery !
Lasrerbrain, I don't have anything specific...other than it is run by the Patriarch. He has sons, one of whom runs ALTN.
There was a rather strange interview with the ALTN son where he discussed the antics of a sibling & it sounded a little odd, he distanced himself from such behaviour (sorry, don't have a link).
They want to be seen to be doing things correctly. Lots of building schools & investing in local communities....they probably plant trees too. But I suspect the father has the final say.
Recent clash with the auditor who got upset, something about handing over money to contractors before work completed & no signed contracts....probably the Kazakh way!! But the work was done, apparently.
In the past Pan African have invested quite heavily in ALTN by buying shares, but that source of funds has dried up.
ALTN now need quite large amounts of money to increase gold production. Seems to be taking ages. Also there are bonds to repay quite soon (£10m I think). So not for widows & orphans IMO.
TY bald eagle. Has anyone any info on African resources? Seems a bit dodgy. Happy to be proven wrong.
These bunch of liars do whats s best for them ?
Go kid your self ? Baldie locks talks a load of crap on share price uptrends / downtrends .
Maybe a director himself ?
RTB is quiet , probably given up hope !
Https://uk.finance.yahoo.com/news/altyngolds-lon-altn-returns-heres-060007919.html positive analysis. According to this fair value is 3 times current price. Actually I'd have thought it's more
Yes you are correct, they are the same. Think Succession!....Kazakh edition.
Yes. You need to change your name.
Just read back thru the chat here and RetiredBanker back on 31JAN22 states the Assaubayev family hold 70% of the stock. Can anyone explain this? Are they in fact African Resources?
Seems odd. Any opinions?
Also, looked up African Resources and viewing the RNS back in 2012. Can't get much info on this deal or the company.. Anyone?
Spike, I may have got it wrong that it was money from the government. But I thought it was a scheme 'encouraged' by the Kazakh regime because financing had dried up because banks had become too cautious & reluctant to lend.
Obviously access to Russian money - the Russian bond - was ended by the war in Ukraine.
Its in the half year report
"As of 30 June 2022, the Company had cash balances of US$1.1m. A loan in principal has been agreed with Bank Center Credit in Kazakhstan, there are sufficient projected funds from this and from current trading to meet the Company’s medium term plans. This includes the repayment of the US$10m bonds that are due for repayment in December 2022"
Is it Kazakh Government backed funding - I don't recall that?
spike, how could they used Kazakh govenment backed investment to repay bonds?...surely there would be some stipulation that it has to be spent on infrastructure or a new company yacht!!
They need to close the funding - thats all that matters now. They have the bonds expiring at the end of this year and are relying on the funding to repay those bonds.
Unsurprisingly there is a complete lack of trust at the moment, hence the SP being where it is.
Reading between the lines it looks like they have decided - whether for strategic or practical reasons - to mine less ore, hence the 'normalisation' statement in the update.
The limit on gold production seems to be in processing the ore. It probably makes sense to reduce their effort on mining and utilise the quite significant stockpiles (according to my estimates). This may free up resources & personnel to work on upgrading the processing plant (it may also be a way to reduce costs).
The news of the Kazakh government backed financing is hopefully expected soon, again an important requirement for the upgrade of the processing infrastructure.
It would be good to know what their plan for the processing plant upgrade actually is. But I suppose they need the investment first before announcing it.
Purely my own thoughts.
Usual Non release of update ?
Board of Clowns upto Tricks as share price tanks !
Where is The Baldie Eagle ?
Flown his nest I think !
Another Baldie comment "Hard to see going any lower " ?
wrong again ?
R.I.P. Baldie .
Mr Baldie strikes again !
Hard to see this going any lower. Is it my imagination but didn't they pay +£20m for the rights to Teren-Sai over 10 years ago?
The management have done some good things. But increasing the value of the company isn't one of them.
I'm still a holder - share price has been dismal but company is doing mostly the right things. It'll come right, is my wager. I've got a small fortune riding on it :o
Hey Baldie , Cup and handle formation this is something for you to Ramp about looking bullish or bull ****e ?
Baldie should be back out of the woodwork soon as share price gone up a tad . Hey Baldie tell us some good news ! I TELL YOU NOW ITS GOING UP BECAUSE ANOTHER LOT OF SPOOF IS COMING SOON !
They've shovelled all free cashflow out for "advance payments" to contractors so have hardly any cash on the balance sheet - they have bonds expiring in 3 months time, which they are supposed to be refinancing with an expanded bank facility, but given the reduction in gold price in recent months, I can imagine its still being reviewed.
DOWN AND DOWN AS USUAL ! Baldie where are you , we need some positive news and ramping .
Baldie only appears when share price go ups ? which is like a full moon these days !