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Gold up $150 over the past week and a half. At run rate production for around 40,000oz per year, the increase in gold drives pre-tax income up $6million, call it £5million. You could justify the entire market capitalisation here just by the increase in gold price in the last 2 weeks.
Why have they not released RNS as its on company board ? You think they want anyone to know or potential infestors to invest here , It don,t make sense sometimes .
"Why have they not released RNS as its on company board ? You think they want anyone to know or potential infestors to invest here , It don,t make sense sometimes ."
Which RNS do you want them to release, I don't quite understand that?
In general though this is one of the reasons the valuation is so low. They hold around 70% of the equity so can pretty much do what they want with the company. They are also the ones to stand most from the gain in equity. So the fact that they seem to care very little about the value of the equity does raise a flag here, that the listing and equity price is not particularly important to the owners and so someday simply decide to delist it, or make a poor offer for the part they don't own, which they can then effectively force through.
Which makes this a gamble
Why have they not released an RNS about what, Buster?
Spike - i agree this is a gamble because Assaubayevs own 70% ... but they have obviously been given some dispensation to hold that much without making a takeover bid ... and it doesn't seem as though they're trying to screw us small PIs.
From past calculations I think their av purchase price is around 250p so they have a vested interest to get the price back up to that level ... which I think is much closer to fair value. When 2023 results do get published it will be apparent that the past 3 years NET profits are equal to twice the current mkt cap ... and the future output is increasing and gold price rising.
Just need some Sunday paper to recommend ALTYN and a few dozen punters to look to buy 10k shares and the price would rise rapidly
This guy ramps on another board and is a flea on a good day .
Altyn has a golden cross lets hope it sticks ?
Some news worth reading .
Teren-Sai subsoil exploration area contract extension
AltynGold is pleased to announce that following the approval of its work program, Teren-sai subsoil exploration contract has been granted an additional two-year term in order to conduct further exploration and testing. The addendum to the main contract will allow the Company to perform exploration works to March 2026.
Since the award of the initial exploration contract in 2016, AltynGold conducted a Competent Persons Report (CPR) in 2019, which estimated 1.48moz total mineral resources in area No 2. Subsequent detailed drilling confirmed prior results and further defined the ore bodies. As part of this process, the original exploration area was narrowed to targeted zones and non-required area returned. Further details of the CPR are available on pages 17-20 of the 2022 Annual Report available from the investors section at www.altyngold.uk.
A work program is being currently executed on area No 2 with the aim of commencing open-pit production as soon as sufficient data has been gathered from further exploration activities.
Further Information:
For further information please contact:
AltynGold Plc
Rajinder Basra
+44 (0) 203 432 3198
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
Information on the Company
AltynGold Plc (LSE:ALTN) is an exploration and development company, which is listed on the Main Market segment of the London Stock Exchange.
To read more about AltynGold Plc please visit our website www.altyngold.uk
View source version on businesswire.com: https://www.businesswire.com/news/home/20240411552343/en/
Contacts
AltynGold Plc
Been holding these for 3-4 years and may finally get back to breakeven unless gold has topped out at 2430. A really low free float and moves fast with any decent buying but always doubted any serious players would risk their capital given the geography and company structure. Chart looks good though. GLA
At £31m market cap, the 1.5m oz at Teren Sai is worth that alone valued at c $25 per oz in the ground......