Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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As much as I like Ariana it would be wrong to say that they are producing considerably more gold than Altyn. They only own half of Kiziltepe so the production profile is actually pretty comparable. Altyn has much larger resources and would do even if Salinbas delivered what we hope, although if they start getting Hot Maden style intercepts then that would make a material difference.
Altyn have a lot to prove and the execution risks are obvious but if they get it right then this will outperform all the other gold producers on LSE.
They would only require $100m if they wanted to take this beyond 100k oz. The asset justifies it. Indeed, the two assets could likely support 300k+ per year.
The plan to 100k oz was due to take around 3 years. History suggests with Altyn that this may be overly optimistic.
True but it's pretty obvious which are buys and which are sells.
GP& - whilst there are many AIM listed miners that are nothing more than holes in the ground and attracting valuations of 30-50m as you point out ... this is the nature of the mining industry and stock market hype. There are also a number of miners with that size market cap like Serabi ; Ariana , Caledonia even Shanta & Hummingbird, which are producing considerably more gold, have better developed infrastructure and are throwing off positive cashflow. Altyn certainly has the potential to get back to 3p, but it needs to report 20k+ oz gold production profitably and a 5yr plan to grow towards the touted 100k oz which it can afford to fund. Unless Assaubayevs can demonstrate this future, then the price won't budge much. Alternately they need to convince a major player to buy a large stake at a price that they find acceptable. Their argument might go something like this
...."We have a proven mineable reserve worth $400mm, but will probably take $100m capex to exploit ... on top of that the licences could yield that result several times over. How about you pay us $50m for 1/2 our stake and commit to invest the $100m necessary to fund capex". This would mean that the family re-coup all the money they've put into Altyn and still retain 1/2 their current 70% shareholding. Share price jumps to around 5p ; future prospects greatly improved !
Can only dream
Not quite - the 0.58 / 0.59 range is a buy but being marked as sells.
I think that the sells and buys are very clearly differentiated and I see no reason to attempt to suggest otherwise. The price is currently acting as anticipated.
The trades coming through as "sells" are buys and are knocking the online limits down... If this carries on will be moving up again very soon.
Gregpeck7,
I don't disagree that it should be worth over 1p now but this is the market and it will frequently over and undervalue things. The significant thing is the trend and there is evidence suggests that this is changing. It will get to higher levels but it could do with the nudge of production news. Get that and the market will then start to price in the asset which is greater than most gold miners on the LSE.
Around 1 million shares available online, low for ALTN, I think a few chunky buys and we will see a nice move up again.
Agree to a point, although with gold hovering around 1500 per oz I think the value of what they already "have" is not priced in - let alone what they are doing.. There are plenty of 30 - 50m valuations of miners on AIM and LSE where they are not producing, they just have good license areas and friendly governments.. Here they are already exploiting the asset, although in a pretty minor way and are looking to scale up, they also look to have some incredibly valuable bits of acreage...
Without doubt ALTN is not on as many radars as VAST and EUA but thats a good thing as it leaves more people to find it.
Yesterday showed us how quickly this "can" move and not on a lot of volume, so accumulate and hold shares, it will move up again IMO. Today is another nice buying opp.
I think this is worth 1.5 - 2p NOW.... Just a question of when it gets there.
I think yesterday was essentially an indicator. Without news such a move is unsustainable but the market was suggesting that a change of trend is on the line. If you look at the chart it is essentially back testing the breakout. If this is successful then I believe that a strong move up is on the cards. Either way, the potential fundamentals are extremely compelling.
I have previously suggested that a long term target of 8p is achievable based on similar producers and an established production rate of 100k oz per year (so a few years hence). There are likely to be many stopping points along the way but the one I believe is most interesting is 3p. Those who know the history will be aware of the significance of that figure so what happens then will be intriguing. I don't doubt that it will get there otherwise I wouldn't be here!
As usual lots of buying but not much of an increase in our SP at close. News will out eventually and perhaps we will see the SP around 1.5p again, just a matter of holding tight for now, imho, of course. Gla