Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Seeing as Altyn's assets are in Kazakhstan and "...the sales off-take agreement currently in place with the Kazakh national refinery, which continues to take all of the Company’s output. As in the prior year, sales are translated at the spot US$ Market rate at the point the gold is sold. .."
Then it should have no direct effect.
The footsteps of Altyn's gold, from mine to refinery to bank remain inside Kazakhstan. If the bank then sells gold to the UK or elsewhere that would not be affected by sanctions on the export of russian gold.
Whether the global gold price moves up in response to a theoretical reduction in supply (countries not willing/able to import gold from Russia) is another matter.
What impact will the USA/UK ban have on Altyn?
I would invest more in here but not going to unless something changes as better chance or odds down at the bookies or slot machines !
That is the problem trust has disappeared due to the repeated mistakes over the last 15 years .
Also they have mis lead the investors , where s the Dividend they boasted about and promised years ago !
They should put their money where it matters into the company and into the investors pocket to show everyone where this is heading and NOT into their hands only by letting the company drift into the Abyss .
I don't think I have ever been a 'ramper'....I would class myself as an optimistic realist.
Altyn has potential and they are making progress....painfully slow progress. To leverage the business they need finance to invest in infrastructure....and that is proving difficult. There are also issues with the majority owners of the company and now the geographical/political location of their mining assets.
Answers to the finance issue could make Altyn a 'multibagger'. But where is the money coming from?
The alternative would be organic growth but - despite a strong gold price - that doesn't seem an option being discussed. Somebody at the company has grand ideas but no realistic plan on how to get there IMO. Perhaps dad will loan them £20-30m!!
Next it be Putin to blame or he s joined the board as advisory Director ?
Baldie you turned from Ramper to Damper .
The down trend of years of Directors Mistakes ?
If we converted back to pennies again our shares would be worth F . All .
This lot are going to make our shares worth pennies again as permanent down trend now for 15 Bloody Years !
"The Trend Of High Returns At AltynGold (LON:ALTN) Has Us Very Interested - multi bag potential [Simply Wall Street]"
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Errrr....what trend would that be?
The Trend Of High Returns At AltynGold (LON:ALTN) Has Us Very Interested - multi bag potential
Simply Wall Street
https://tinyurl.com/2s3cwnjk
I remember reading the interview - although I have forgotten most of it, apart from 'the family' not being angels. I may re-read it for 'fun'.
Hopefully they continue to see the benefit of a London listing. I couldn't see why they came off AIM for a full listing, obviously someone has/had big plans. The financing was due to come from Russia via a bond (James Bond, 'From Russia with Love'!!!). What are the chances of London financiers stumping up the cash Altyn need?.....what is less than zero?
Its certainly poor form not to announce the AGM via an RNS - to be honest I thought that was a listing requirement but I've not yet had chance to check the rules, but even if it wasn't its a standard announcement and given the current situation the company should have realised that it is important. Although the news of the AGM wasn't really leaked out to me, it was published on the website which i expect might be considered an acceptable way to communicate.
On the annual financials its a bit more difficult - I think you have to assume as long as there is no RNS to the contrary that the results will be released on time, the problem is that only works if investors have full trust in the communications of the company and that clearly isn't the case here. But i'm also not sure what they can say as an alternative - if they have some internal doubt they cannot communicate that they expect to release them, nor should they communicate about having doubts as that sets off panic, so ultimately as an investor you just have to accept it and decide whether to sit and take a risk.
Lets be honest here - the reason this SP is so discounted based upon both financial and asset valuation is not just generic Kazakhstan political risk, its also specifically that it is majority owned by a family with a 'colourful' past and there is a risk that the LSE listing is just for a veneer of respectability and access to flog shares if needed, but once if it becomes no longer needed then it disappears in a puff of smoke. The reason for the perceived poor communication could be that no one gives a tiny toss about shareholders and I doubt anyone thinks standard listing regulation will protect them.
However, if they can continue to execute (which they should get a lot of credit over the last 24 months) and allay any fears than clearly this is worth substantially more - if anyone from the company is reading I'd recommend sharpening up communications a bit more and notifying of an AGM via RNS should be an absolute mandatory.
Just in terms of my comment about the family being colourful, I make no allegations (I would be a fool to invest if I did), but there is public information which CEO Aidar Assaubayev discusses towards the end of the interview. I've invested on the consideration that they are in fact highly aligned with my interests which is to make a load of bunce by developing Altyn.
https://bne.eu/interview-kazakh-gold-miner-altyngold-on-a-roll-228415/?source=russia
Spike, I reckon you are correct. Most likely the delay is due to the problem of untangling sanctions from a country that is highly reliant on Russia...an accountancy nightmare.
I was hoping that the delay would be due to the ink drying on the financial investment for the mine upgrade(s). Perhaps there will be an update in the report on this.
I'm not keen on the way the news of the AGM leaked out and private investors - namely you - have to chase up the company about the final report.
The company telephone number is I believe a call centre for various companies and forwards the call details to Mr Rajinder....cheaper than having a UK office and staff waiting for infrequent calls.
A number of companies have had to delay results for various reasons, for example I believe Anglo Asian Mining who also operate in country had a delay, I would not be unduly concerned therefore, looks like the results will come out this week, they are eagerly awaited, the last broker note had a price target around £4 a share for ALTN.
"Spike, this all seems very odd. Do you have any idea why the final report has been delayed?"
Well technically its not delayed they have until 30th June to the release the report, although yes it is later than previous years.
I'm not convinced by the AGM theory - if the financial results are not ready then don't call the AGM. I can imagine preparing the audited financials this year has taken longer than prior years due to the political situation and the auditors wanting to be sure there are no issues with sanctions, so the process hasn't been rushed - it could well also be that the start of the audit process was delayed due to the unrest in Kazakhstan at the start of the year as well as the invasion of Ukraine.
I had left a few messages with the company over the past few days - I'm fairly sure the UK number is not Altyn but a calldesk that handles Altyn's calls. Yesterday they called me back and passed me a message from Rajinder Basra that the annual results would be released this week.
Spike, this all seems very odd. Do you have any idea why the final report has been delayed?
I have a number of theories. Ultimately it seems that with the news of the AGM leaking out they are scrambling to get the final report released in time. Which doesn't explain the delay!
Friday 6:30pm?!
Thanks.
Yes, confirmed to me by phone call that it will be released this week.
Morning Spike, aside from the AGM notice, have you received communication from Altyn that the Annual Report will be available by 30th June? It's making some holders jittery.....
"....and also confirmed by the company today."
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No RNS today. Perhaps tomorrow.
Details for the AGM are confirmed on the website
https://145908.selcdn.ru/files.altyn.uk/news/2022/Altyn_AGM_notice_(CL).pdf
The annual financial statements will be presented as confirmed in the above and also confirmed by the company today.
Can we just turn up or do we have to register beforehand? Got shares with Hargreaves Lansdowne so probably don't appear on the shareholders list.
Can they inform shareholders they are holding an AGM before informing the market with an RNS?....I suppose so, because it isn't really price sensitive.
But can they even have an AGM without publishing a final report for last year?
Reminds me of the time they changed their name before they had secured the rights to the name they were changing it to. Perhaps someone booked the venue for the AGM last year, but that doesn't explain why they are informing certain shareholders but not others.
Belated RNS's imminent....Friday 6pm!!
Thanks
June 30 Langham court hotel W1W6BU 11am
Maz, when and where is the AGM please?