Member Info for bald_eagle

Let us hope Ofer hasn't bitten off more than he can chew. The comparisons between Amobee & R1 are there, with 'laughable' ad-tec to cull. Hopefully after removing the deadwood there is something left worth the money being paid.

RB, your assessment seems fair, although the price of gold isn't under the control of the company. Given the $40m loan they have secured - which mostly answers the near term funding question - it seems inevitable that £2 cannot be too far away, especially if they continue to steadily increase gold production.
Hopefully they have a cast iron plan that can now be implemented to upgrade the processing plant to 1mtpa and also enhance the general mining infrastructure....steady progress is needed with good communication from the company...plenty of updtates!!

I just noticed that they named the recent RNS "Funding updtate"....only just realised with all the excitement over the news!!

Rb, what do you think would drive the SP above 250p?
Perhaps the end of the war, production circa 1mtpa, Teren-Sai mining ore in quantity, a dividend payment or just a general re-rating for ALTN?....perhaps more than one reason

Personally I just hope they just concentrate on mining as much high grade ore at Sekisovkoye as possible and that they get the processing plant to 1mtpa ASAP with a recovery rate >83%.....oh yes, and that they name the school they are building after me... Bald Eagle University has a certain ring to it!!

Ofer Druker has done his deal. It was just a matter of when not if. He is now head of quite a large organisation. Hopefully market conditions will go in his and our favour. Could be a difficult spell if advertising spend reduces due to an economic downturn....but he will be busy integrating the two businesses in readiness for the inevitable bounceback. So could be a well timed purchase.
But I'm no expert and guessing really.....others will have more expert views.

"The sale follows the announcement made on May 27 that Amobee had been classified as a subsidiary held for sale from March 31.
The divestment will exclude the email solutions business of Amobee, Inc., which will be reorganised and carved out of Amobee, Inc. and transferred to Amobee Group or its nominee prior to closing.
The divestment will be at an enterprise value of US$239 million ($331.4 million). The estimated net cash proceeds after deducting transaction costs is expected to be at US$197 million at closing.
The carrying value of Amobee Asia, Amobee, Inc. and Amobee ANZ as of March 31 was US$160 million.
Back in May 2021, Singtel has already written down the value of Amobee by $589 million. Singtel acquired Amobee a decade ago for US$321 million as part of its broader push to grow a wider portfolio of business.
Following the divestment, Singtel will cease to hold any equity interest in the Amobee business, except for the email solutions business retained by Amobee Group....."
[https://www.theedgesingapore.com/news/telecommunications/singtel-net-us197-mil-after-selling-stake-amobee-tremor-international]

SToneFold, personally I would now like the CEO to do a presentation to inform the market & investors on their current plan to utilise the $40m investment. It should include when they plan to reach 1mtpa and the forecast gold production over the next 3 years.
It would also be a boost to investors to indicate when dividends could be paid and roughly how much.....although to be honest maximising gold production is paramount.
At the same time they could also discuss Teren-sai, the icing on the cake.

6% interest rate seems extremely reasonable to me.....but of course I know nothing!!

Stonefold, I think you have me wrong. I am not a deramper....quite the opposite really. I just like people to know the facts......like they plan the 2nd processing plant for Teren-sai (although that seems a long way off now)

The fact that the auditor signed off the report with a qualification was as much a surprise to me as anyone. I'm still not sure how the news leaked out but confidence in the company took a hit. Hopefully we can put that in the past now and they can concentrate on the production plan.

I'm not eating humble pie....just pleased as punch.
I never heard anyone saying that a loan was imminent or that it would be easy to get. The Russian bond was off, the chance of a loan from UK financial institutions was zero (same for a rights issue). So I thought the only realistic chance of a loan was from 'the family'.
I didn't know that the Kazakh government was having to offer loans to replace Russian money....as it turns out it worked out very well. I would say investors are very lucky and I am very happy.
So my analysis was correct based on the information I had.....even the Dofmeister didn't disagree with me.
The company now have deliver on their plan....no more excuses....and dividends coming soon apparently, happy days!!

"The auditor did sign off the accounts and has applied to continue in their role as auditor for the company. "
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StoneFold, Just for clarity, what was the issue with the auditor that caused the delay in the posting of the final results?.....and why did the SP drop after the issue with the auditor was uncovered?
If the auditor signed off the results then they must have been 'happy'.....so why all the fuss?

Excellent news.....and the CEO even mentioned a dividend policy (again).

What was all the fuss about funding? They trawl the financial markets of the world and come back empty handed. Then they go to their local bank bramch and get a big loan at very good interest rate!!
No more excuses not to deliver 1mtpa within 2-3 years.....to infinity & beyond.

With debt to repay and mine development coming from profits - due to almost zero chance of a loan at the moment - it seems that any chance of a dividend seems remote.
Capital gains requires that the SP increases from the historic lows we are seeing.....and that is due to confidence that the management has to restore. Having an auditor that will sign off the books is a 'good' start.

"It would help if they issued a half-yearly report not just production figures."
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jt321, they did issue a half-year report on 6th September 2021. You will have to wait until September for the next half-year report....unless it is delayed of course!

jt321, I hope you are right....that this was simply a misplaced 'tick in one of the boxes of life'.

With no realistic source of external funding - apart from a loan from dad - every penny is important & must be accounted for.....rather ironic because this is a gold mine!

"Who cares?"
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jt321, lots of people. Credibility is really important....especially when they need funding.

ResearchCentre, I cannot understand why they cannot do both.....the best of both worlds!! Use a 'family' company to supply goods & services AND have the paperwork (contract presumably) to show what was agreed.
Would it be such an insult to have a piece of paper signed?!

Altyn have to realise that there are reasons why such 'formalities' are required by UK accountancy law....it protects management as much as it protects investors.
Hopefully the company is proactive on this matter and they communicate the resolution to the market. It is an unnescessary distraction from getting gold out the ground.

RightOn, I have read that about a lot of countries....that there is often a heavy drinking culture in business (perhaps slightly dated now). One needs to be able to handle one's drink. Personally I wouldn't last 5 minutes!

ResearchCentre, I'm not saying there is any here? It was more a general question about things in Kazakhstan.
For Altyngold it would seem the auditor has encountered an irregularity that they didn't like....possibly perfectly normal and OK. However financial practices need to be reviewed and 'possibly' tightened (which is what the company are doing according to the AGM Q&A).
However the company is owned & run by the same family and the temptation is there....so a strong finance officer (chosen by the family!) is required. Hopefully this is a wakeup call and not a sign of things to come.

RightOn, is there much corruption in Kazahstan?...to ensure speedy & positive outcomes.
In the UK one donates to the Conservative party!!