Member Info for MarginMiner

When management is explicitly targeting an MRE by the end of June, the priority often becomes getting the geological model, assays, and resource work completed as quickly as possible. In that situation, releasing multiple interim assay updates can actually become a distraction. It’s probably a c from me, with a caveat of d if Paul sees some exceptional drill results he’d like to share these highlights a little earlier. Thanks for the horrible question Figes! Lol. If anyone has any firmer views, please do post. Thanks all and have a great day.

Morning all, well Colin’s team is going like the clappers! Third rig should be up and running anytime now. Great stuff. Plenty of news to look forward to.

I don’t see it, liquidity then becomes a bigger issue. But first things first, they need to get to 2.5 Mtpa and get that second mine open, so they need to cover the capex. Sheffield, did you ever look into KEN? I’ve spent weeks analysing it and must say it has some outstanding share price appreciation potential over the coming year. Always DYOR. I’ll be on the KEN thread if you have any questions.

Back to ALTN, we are effectively bobbing up and down in the water, awaiting the current to take us one way or the other via POG. Whilst we eagerly anticipate the next stages of development, our catalyst is to get Dof his dividends in 2 years time.

All - Following the Q1 results, when you reviewed them, did you make sure to strip out the ~3–3.5k ounces of gold that rolled over into 2026 due to timing of sales? I don’t think that was made particularly clear or obvious in the update. think they even used a 28% increase Yoy. Naughty as the previous year there wasn't any roll over.

Nice miniEvi, good timing. Fingers crossed for a late June resource estimate, and also for further indications of a potential connection to the Alphamin tin strike, as well as the basin area near the river, which may point to additional copper prospectivity. I don’t want much, do I! Good luck to Paul and all shareholders. Holding tight and comfortably here.

Seen it a lot across the LSE platform lately. I also noticed that you couldn't get KEN shares for some time earlier today, although that may just have been an ii issue.

As for the news, the expected PrNd price increase through to 2030 ranges from around 70% at the lower end to 130% at the upper end of the base-case forecasts. I'd be very pleased to see some price appreciation over the next year. Even a 10–15% increase over that timeframe would make a meaningful, leveraged difference to NPV. Selling into rare-earth strength should also support Colin and the wider shareholder base.

No doubt they should be along soon enough. Good to see you here big K.

Fully funded to complete 13,200 metres @ TK and 10,500 metres @ KH. The fundraise also allows for the metallurgical design studies through to the Q3 deadline.

No one has really mentioned it here, but Africa could really do with a rare earths refinery! When completing some analysis on the SVML thread and sharing the revenue between the 3 stages for rare earths, it's actually quite staggering the differences in revenue generation.

How - apologies if my comment wasn’t clear, yes I totally agree, private placement rather than any JV at this stage.

Thanks ghost, I have Colin on a little over 19%, but regardless he will be fighting tooth and nail to get the best possible placing price … for his own wellbeing if nothing else! Right I think we have done placing to death now!

Dof, work could have commenced six months back, no risk to capital, no huge debt. you’ve got a 2 year wait from when they make the decision! Still no license, but they talked about it in their 2024 annual report!

I guess anyone on here can put into ai and ask for the structural overview of Assaubayev holdings. Then have a good look. The move to REE was managements objective in 2025, not altn gold. You’re entitled to believe they have managed it well. In my book, could do much better. Not long to wait? Dof, come on, we’ve all got a two year wait. As Daisan has said, let’s hope gold holds ~4200, because the gold production numbers aren’t going anywhere up anytime soon. Half your points below a decision hasn’t even been made yet, and there lies part of the problem. I think we can agree to disagree respectfully. … how do the Q1 results look? Every other miner has submitted… glad we aren’t waiting…

I’m sitting here waiting for the next round of drill results like it’s Christmas morning. Let’s go, CB! Prove my 10p blue-sky scenario right, otherwise the guys & gals on this board are never going to let me live it down! 🚀⛏️ GLA

The last podcast made two critical points clear: "you can raise the money, and each placing has got to be a much higher level than the last placing," and "you never ever raise more money than you need." Of course, at the exact same time when talking about raising capital, CB mentioned the potential for major institutional backing at this stage.

Admittedly, 10p is my blue-sky scenario, but I'll stick my neck out and stay with that target. If this truly is the "best project ever discovered", the 14mt is just "the tip of the iceberg", as suggested, then one would expect some lovely, world-class RNSs to drop between now and any further news on the placing.

So two massive red flags for me which I will watch with interest over the coming two months from the owners:

The fat-cat syndrome and the psychological dynamic this plays out.

As per Mike's comment, Drozhilovskoye. There is an ambitious, massive-scale open-pit development occurring... so the market requires to price in a structural management risk.

The Assaubayevs are incredibly wealthy, and their focus is split, actually, at this point I wouldn't say split, we are clearly second. And with the current structure, we have no leverage to change that second position.

Let's see what the owners come up with. Match that ambitious development with ALTN, then maybe a reprieve is due...

Look at it a different way. The processing capacity increase was completed and ramped up by December 2024, meaning ore milled skyrocketed. Great work in 2024.

But let’s move into 2025. What have they actually achieved on their own merit? Paid down debt? Any producing gold miner in the industry over the past 12 months is either sitting on a mountain of cash or wiping out debt. That’s a macro no-brainer, not a management masterclass.

The 2025 numbers look incredible because the surging Gold Price saved them from what would have otherwise been a flat year. If you strip away the massive macro tailwinds and the mill extension from the prior year, what is the actual internal YoY progression driven by management execution?

When you look closely, we are left with deep-level development, horizontal drilling, drainage systems, tailings storage expansion, and ventilation overhauls. I call that the "daily bread", the bare minimum standard for operational efficiency, not groundbreaking growth.

Meanwhile, the TS license has dragged on and on. Whether that’s due to the A9 road or the close proximity to the town, it's poor form regardless. The saving grace here might simply be pure luck; despite management's reactive approach for 2025, the TS exploration drilling may have just thrown them a massive bone.

Like you, I see the value, but I await management’s communication to see if they can actually drive this forward rather than just riding the gold wave.

Thought we had a sustained news flow over the next five weeks… Get to 10 pence, then get the 5 to 6 million, which gives approximately 13% dilution.

Bangrak, my point on production is management should have the foresight to see future years production figures and ensure a continuous upgrade tick. Especially with the gold prices increasing yoy. They missed a beat. Now I’m expecting to come out all guns blazing with zone 5 as the master open pit, with zones 1 and 2 as satellites. I’m expecting the upgrading to 2.5mtp as a green light. The TS license has just been badly managed. Still has potential, but need to see meaningful action by leadership.

True, Premium Bonds won't wipe out 15% of your cash in a single morning. But they will guarantee you lose purchasing power every single year, unless you're one of the few lucky ones. If you don't want to invest or buy, that's fine. If you want to buy even more Premium Bonds, then go for it; I hear the rate will be increasing soon.

The story could be big here. What about someone who has worked their whole life to put what they have in here for their kids? Calling it 'junk' and 'for financial masochists only' lacks a balanced view.

I've spent some time reviewing this stock, and I guess it comes down to the asset and what they have in the ground. You're not a believer, and that's fine, it's a junior miner afterall. However, I can only go on the facts and the positive drilling results, so I have a differing opinion. I believe this share won't be anywhere near 'junk' status, nor is it a pump-and-dump position. I firmly believe the Kendrick team when they say the resource will grow and grow to multiples of the 14mt currently.

I wish everyone well with their selections and hope you all get filthy rich, albeit via Premium Bonds, Kendrick, or any other choice of financial vehicles. GLA

Probably because of the previous Ebola outbreak, much much larger than this one didn’t impact alphamin back then. 17th outbreak in DRC, so they know what they are doing to manage it. Wishing anyone who is ill a speedy recovery. Looks a little red today across the board today. GLA

Because it maybe seen as an unusually high gold price, and it may require to hold a floor here for some time before analyst have any confidence to redo the maths. We have a single mine. We are not in a “tier 1” area. The forward production of gold produce for the next few years in altns latest reports show no increase. (We may think increase will occur, but why on earth altn wanted to show this for years in front I’m not entirely sure, especially with a decision expected. There are solid gold producers with one than one mine with a forward pe of under 4.5. Higher yields, hits gold, straight is still closed …. I could go on

Salamet, have you completed the grade comparison? In particular, check out the Nd/Pr grade comparison. Then do a Nd/Pr as % of TREO. Please let the board know what you find out in your benchmarking.... hopefully confirmed significant tonnage next please. Have a lovely weekend folks.

200,000 tonnes of tin, 75% recoverable, giving 150,000 tonnes. Apologies, my mind is ahead of my fingers. If we use todays Tin spot price. I make that $8.36 Billion!