Member Info for bald_eagle

HawaiiFiveO, thanks for the AGM feedback. It was interesting!!.....apparently pefectly normal behaviour in Kazakhstan that isn't acceptable here. Go figure.

Did anyone go to the AGM?....(unfortunately not me)

They may be asked some difficult questions.....hopefully they have some sensible answers.

Seems the auditor haven't received the assurances they need to be 100% happy. Replacing an auditor in the situation could be tricky. Better for the company & investors for financial controls to be tightened going forward....but the controlling family will decide that and they might like the situation as it is.

Something to ask at the AGM perhaps?....what caused the delay

$480,000 to a broker for 'sponsored research' and to help attract new investors....money well spent!!!!!
$540,000 travel costs.....first class flights and stays at the Ritz.....sign me up!!

If they could reduce some of those unnecessary costs then they would have more money to invest in the business....but I suppose they were hoping for the external funding. So 'hopefully' from now on they will cut their coat according to the cloth (easier said than done).

HappySurfer, the previous Capex requirements were part of a plan that aimed to achieve multiple things simultaneously at times. Sometimes it makes sense to spend money in preparation for development in the future. With limited resources that wont typically be an option now.
So the $38m is 'probably' the minimum required to reach at least 850ktpa....but personally I'm not sure it will guaranteed 1mtpa (the current report is understandably a bit vague).
The $38m will defintiely not be enough for a 2nd 1mtpa processing plant....that has now moved firmly into the long term plan (aka wish list).

"The Company achieved its principal goals in relation to its current operations at Sekisovskoye being that of....., and producing gold of 34,258oz (target 33,634oz)."
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I'm not sure what that means. Gold poured was 28,450 oz (with a target of 30,000 oz).

Looks like the external financing is currently off the agenda. Therefore organic growth with 'small' incremental increases in production and all the milestones are pushed further into the future.....850ktpa and 1mtpa processing capability.
The second processing plant and development of Teren-sai will be impacted too with everything focussed on Sekisovkoye.
Perhaps the management can now focus on maximising production rather than chasing financing. Obviously 'bank of dad' is always an option for strategic investments.

Stonefold, it is good to know, thanks.
In recent times Kazakhstan has been moving cloer to Russia politically. Let us hope that Russia doesn't try to circumvent the sanctions by trying to sell their gold via Kazakhstan. But I expect India & China will be happy to take the Russian gold that we don't want.

What impact will the USA/UK ban have on Altyn?

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!!

"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?

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?

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.

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?!

"....and also confirmed by the company today."
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No RNS today. Perhaps tomorrow.

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!!

"An eventual fall in UK house prices of 50% to 60% from the current levels would not be very surprising."
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Tatap, that could be a bit of wishful thinking IMO. The wealth of the nation is built upon the sky high price of housing. No government would 'allow' housing to drop anywhere near 50%, it would be election losing. In the past governments have overcome unaffordability by reductions in stamp duty and 'cheap' loans to first time buyers...anything to support house price boom. People feel better when their main asset goes up in value every month, they buy cars & holidays and vote accordingly.
Interest rates won't probably go that high 2-3%, which historically is quite low. So I wouldn't bet heavily on a UK housing crash.

"...F1 Aston Martin is completely other company…"
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That must be one of the scariest things I have seen in a while (if correct). Investing in a company (or even thinking of investing) without understanding basic things - like their assets - is a recipe for disaster.
Like that diamond mine that is actually a coal mine.....early stage diamonds!!!

Why is LGEN SP being hit so heavily at the moment?
Seems excessive or have I missed some analysis or news?