Member Info for HawaiifiveO

Bell can stay in the Congo as long as he desires if he collects the cash (up-to $12m), if he spends weeks and weeks there at shareholder expense and comes back with nothing other than puff and wind that is another matter.

For those who may have missed the recent interview Bell said he knows the market does not believe he will get a result but then added there was a reason for him extending his stay purporting he will get the cash.

I believe a positive result is possible due to the fact that one party has ability to pay and as previously suggested by Bell wants to pay but wants to know who legally to pay, that has been established via the courts as Red Rock.

7, Website. When can we expect a new improved company web site?

A) The Company believes the website is generally good but the point is taken on board that that the Company needs to update and refresh the design and layout – this will be addressed.

Many thanks to poster Palisz from the other site for this update.

6) Share price & PR related question

There are a number of factors that will affect the share value of the Company. But the the current level of the share price is disappointing. From its previous level of trading and development - the current management have
been progressing the development of the Company - The Company sees the main driver to the share price as being results - it is agreed PR is an issue and this will be addressed - but we have generally found that the PR firms as
providing very little value at a high cost. The Company is currently in the process of appointing a UK based broker.

5) Teren-Sai. Significant detailed drill results here have never been released to my knowledge unlike for other miners. Any results given are in a summary form only. Why is this?

A) This is being considered at the moment - the Company is in the process of licence renewal and agreeing a detailed exploration program and a detailed RNS to outline the future developments is to be sent out once the process is complete.

4) Could the management give guidance of the expected reserve grade going forward (Latest 1.97)- in 2022/2023

A) The expected grade is 2.2 in the forth coming year - and set to rise after that but unable to give definitive time scales after that in relation to moving up-to the CPR grade - at present with the gold price at its current level, it is the
Company’s objective to maximise ore throughput.

3) Reporting continues to be disappointingly slow and minimal. In these uncertain times the company really needs
to be making more regular and timely updates. Especially drilling results, and other relevant information.

A) The point is taken on board that there needs to be an increase in the dissemination of information in relation to the feedback of the Companies activities - the current format of quarterly reporting is to be expanded to make
it more encompassing and detailed - and the aim to is disseminate the information within 4 weeks of the quarter end.

2) With Renaissance effectively out of action does the Company intend to appoint a new company broker?

A) Renaissance/Rencap were initially appointed as the Company were looking at raising finance in Russia - the broker had connections in the Russian market - the attraction was a source of cheaper funding with a favourable exchange
rate. As this market is now no longer viable - the Company has been looking at the appointment of a UK Broker.

1) Can the Company explain the background to the qualification in the audit report.

A) The Company has been progressively growing turnover year on year. In 2021 alone, the company managed to increase the sales of gold by more than 68% compared to the previous year.

In line with the Company’s plans of continuous growth and to achieve its operational objectives for the current period
and looking forward, one of Altyn Gold’s subsidiaries in Kazakhstan made a prepayment to a contractor (an external independent service supplier), for mining services which is a normally accepted practice in the mining sector
in Kazakhstan.

The contractor has been providing its ore mining services for a number of years, providing a good level of service in terms of meeting agreed volumes and the quality of services provided.

On completion of the 2021 contract a further prepayment was made to maintain the continuity of operations and further the production growth into 2022. This was to enable the acquisition for the contractor’s for additional equipment and machinery required.

The principal area of concern as noted in the auditors’ report was the prepayment made to the contractor raised the risk of non-recovery in the event of a default on the prepayment in case of their bankruptcy or other issues. The
Company did mitigate at the time in relation to the recovery of monies by way of guarantees to reduce the exposure to the issue..

In relation to current trading the contractor has already carried out works in the amount of 70% which will be offset against the prepayment amount, and the risk of non-performance or default has subsequently decreased.

Management recommendations as noted by the Auditors and the Audit Committee are being acted on and are being implemented.

In order to prevent a recurrence of the situation from occurring again the company’s management will review, develop and implement the internal control policies with respect to advance payments to suppliers of
goods or services.

ODX remains significantly undervalued, tiny market cap, a mere £7.5m, the Health business alone is probably worth 3 times that valuation.

It is interesting they have only gone for a small placing - it will be the last this year in my view, further it has almost certainly been forward sold, my bet is they will sell the Muratdere royalty, this is now a very saleable package due to the recent EIA submission which looks like it will be given the green light.

This royalty is worth $7.5m minimum to ORR over 10 years, one suspects it could be sold for $2m which would equate to £1.6m - the shares look too low now having fallen 90% from the high point reached in February 2021.

Worth noting the cash position was better than expected at £1.4m at year end December, since then they had a £400k tax refund + today's raise.

This could be a good entry point for a trade or longer term hold as the sector has to recover at some point, current m/cap is sub £4m right now.

One wonders if the recently announced Congo deal was a form of window dressing to demonstrate to officialdom that Red Rock will invest in country. In return Red Rock will be looked on favourably re the courts and ministerial decision making, thus assisting ongoing financial claims.

In a recent interview Bell said something along the above lines, I also noticed that there was a payment accelerator clause in the deal if certain liquidity events occur for Red Rock, this means getting cash from the circa $12m owed, that to me suggests some cash is inbound.

Bell is still in the Congo so one assumes a final conclusion is not far away. Can he get the cash, how nice it would be to get a morning RNS saying a payment of $5m-$10m has been made.

Link to results

https://www.investegate.co.uk/altyngold-plc--altn-/bus/final-results/20220627070000Z1206/

Link to results - great performance - shares look astoundingly cheap

https://uk.advfn.com/cmn/fbb/thread.php3?id=44534590#firstpost

Surely Bell would not extend his stay in the Congo for a fifth week unless he was having some success, the claim is effectively in 3 parts

1. Get $2.5m and $2m damages out of the former partner VUP
2. Get up to $7.5m from the subsidiary of the major mining company who are (apparently) willing to pay
3. Get a portion of the above $7.5m and in return attain a equal value licence package

He is basically dealing with 2 parties, the4 cash element should be straight forward, the money from VUP may be more challenging but the award to RRR of $4.5m is court approved. The delay may be associated with attaining a replacement licence.

The matter is something of a roulette wheel but Bell has suggested progress is being made so I feel more hopeful than last week, IF Bell can return to the UK with cash circa $5m-$10m and a new licence it will be one of his best achievements in a decade IMO.

Just saw the tweet on my Twitter feed, I have to say it seems positive, Bell would not say on for 4+ weeks if every door had been shut in his face, my goodness in these markets getting some hard cash in the account would do wonders, now if that cash equalled or exceeded the current market value of the entire company then it would be very happy days for shareholders.

One suspects very few market entities are aware of the situation.

As I understand it they are forced to relinquish 50% of area of 3 licences in the Cameroon Central Package every 2 years, as it stands they may have to get rid of a swathe of licence area even before they have had time to explore, the question remains, where is the money coming from ?

Yesterdays news is unlikely to defer a placing in late Q3, it may have some bearing on how much they will raise however, on the other BB someone thinks they will get $1m for the royalty in Turkey if they sold it now.

The Trend Of High Returns At AltynGold (LON:ALTN) Has Us Very Interested - multi bag potential

Simply Wall Street

https://tinyurl.com/2s3cwnjk

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.

It seems Red Rock have a very competent and well connected person in Barry Kazadi representing them in the Congo, this interview going back to 2019 shows him promoting mining business in country, both Glencore and Red Rock are mentioned.

Maybe Bell will pull something off after all.

https://www.proactiveinvestors.co.uk/companies/news/904663

https://tinyurl.com/muda6te4

More clues from Bell, he promotes Barry Kazadi as RRR's representative in the Congo, but the photo tells more, he is wearing a Glencore lanyard, it seems he was representing Glencore at the recent DRC Mining Week, that is interesting as Gecamines (who owe RRR $7.5m) are a subsidiary of Glencore.

https://twitter.com/ABell2019/status/1532636437727916032?s=20&t=SeZST7-AAJiVYJiowd1k2g