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After a long wait for Q4 production update it finally arrived and...."extreme weather conditions' returned to Kazakhstan.
The saviour to the figures was grade jumping to 2.49 gr/tonne (impressive increase of 18% from previous quarter).
Typo in the RNS ('mined' 124.1kt should have read 'milled' 124.1kt ) makes me think it was a little rushed....even though they have had plenty of time to get it just right.
Anyone know what "....accelerating the opening of deeper horizons...." refers to?
Sadly it doesn't look as thought Assaubayev or BoD is going to give a Q4 update.
Useful information has always been in short supply with this company in first quarter of the year.
However I feel patience is all that is needed here.
With luck we'll get audited results sometime in April and then a Q1 update in May.
By my calculations Assaubayev's own around 70% of the total equity at an average around 250p (in new money)
There interests are very much aligned with ours ... I'm confident we'll get back to 3p (=300p now)
... ideally I'd like to see it before June 30th - but I can wait.
Where else do you have such a good chance of 100%+ upside in 2023 !!!
Auditor ? has he been sacked already .
When are the crooks going to release update ? Probably going to steal some more investors cash with another placing ?
Beyond Belief ? Audi
They are a bunch of crooks that s why ?
I'll be happier when they actually publish the appointment of the auditor with companies house - it still hasn't been done yet.
Was expecting a q4 production update at the beginning of Feb. For some reason they haven't bothered this year. Perhaps they are busy burying skeletons in the deepest part of the mine in prep for the new auditor. Fingers crossed some positive news soon.
As reply to numbskull where is buster when share price is rising ? Now its tanking where are you ? so go and figure !
It seems we are back to usual non update ? surely if you want investors to invest in a good investment you would release on due date instead we have a BOARD OF CLOWNS who don t do normal and that s why share price is where it is ? no buys mostly sells as Clowns are clueless ?
alfredq432
This share has certainly not performed the way I had hoped over the years, but the 50%+ rise this past month is only the start of better times I'm sure. Hopefully we get a Q4 update this week which should state that revenue is over $60m and profit around the same as last year. Our mining will be slightly below the 650kt projected for the year, but still up on 2021 and hopefully Assaubayev will continue to predict 700-800kt for 2023 and on target for 1mt in 2024. On a p/e of <3 and projection to also double output within 24months we should see continued rising of the share price to levels not seen for a few years. To 3p and beyond !!! gla
The current share price in 2020 would be the equivalent of 1.6 pence when they did a 100 for 1 share consolodation.
I bought at 1.4p back then and have watched this hits 70p (0.7p equivalent) just a few months ago so I am really pleased to see it has doubled since November (but obviously I wish I had bought more in Nov !).
https://www.lse.co.uk/news/ALTN/in-brief-altyn-proposes-name-change-and-share-consolidation-fvj7elger9zks6i.html
I’m not expecting any increase in production this year - in the last investor presentation the step from 40k Oz pa to 60k Oz pa was in 2024 and that assumed the main capital investment occurred in 2022, so I shift everything back a year but hope I’m reality there is a graduated increase so next year pushes towards 50k.
RB, I would like to topslice at 250p too...but we have to get there first. Some encouraging progress recently, albeit from a really low point.
Hopefully ALTN can continue to deliver positive figures going forward.
We're due a Q4 update any day now ... which I suspect is going to show a steady 8-9k oz production.
That will equate to 2022 revenue around $60m and profit above $20m.
That sort of consistency is what we've all been hoping for over the years.
It doesn't take a genius to figure that even on a p/e of 5 we should be around £80-100m market cap and that's without factoring in any increased production or continued rise in the gold price.
If gold breaks through $2k and stays there, or BoD project 40-60k oz for 2023 then we really should see a massive boost in share price on top of the 50% rise over the past 2-3mths ... I'm still targetting 250p before I top-slice
Haven't heard from Busterhogdog lately
Definitely the appointment of the auditor - with no auditor there is a risk of suspension and big corporate governance risks, now one has been appointed it removes a substantial risk.
Gold strength helps
Then there isn’t much free float so no surprise it moves quickly in either direction
I would like to know what is driving the increase.....any thoughts?
Perhaps the market has suddenly realised that ALTN is a diamond in the rough!
Certainly not driven by recent news from the company....unless this is a delayed reaction about the financing deal.
Nice to see though.
Thar she blows!
ALTN over the years has been a frustrating share to own. They have had many hurdles and made incremental progress. The management have also had ambitions that probably exceeded their capabilities.....favorite son syndrome!?
The lights are currently Green for Go. If they can deliver on their planned production increases then SP will follow higher even though it is in Kazakhstan (I hope). They have the money, they have the Green light for Go, they even have a new accountant....no more excuses, time to deliver.
With the appointment of the auditor this is the first time while I've been a holder that everything looks good with no current areas of concern - production is strong and has been very reliable, low cost funding is in place for the next stage of expansion, auditor now in place and even if I still don't like this advance payments to suppliers I doubt it will cause issues and externally gold price is strong and the outlook looks positive and Kazakhstan seems reasonably strong and is keeping Russia at arms length.
I'm sure there will always be some discount due to Kazakhstan and the ownership structure, buts even allowing for that its difficult to see why this will not re-rerate substantially in the near future. I don't see there being any dividends in financial year 2022 and probably not 2023 as this year most of the capex spend will happen, but 2024 there should be sufficient free cashflow to pay a decent amount.
I'm sure there is something just around the corner to bite me for this post, but this is now the most comfortable I have been holding.
If Polymetal in a heavily sanctioned high-risk political jurisdiction like Russia can find a new auditor after Deloitte resigned, you would think Altyn shouldn't have a problem. They should look up Polymetal's new auditor MHA MacIntyre Hudson, considering both miners work in Kazakhstan, there would be some large synergies for MHA MacIntyre Hudson.
I suspect they are urgently trying to find a replacement before they have to inform the market. But the news has leaked.
I wonder if this was linked to delay in securing the funding?!
You can find the resignation letter at companies house
https://find-and-update.company-information.service.gov.uk/company/05048549/filing-history
Again I don't like the fact that this has not been RNS'd
The AltynGold website shows BDO as one of their 'advisors & partners'. I tried to use the link to BDO site (read more) but was warned of a security threat, so didn't risk it.
Fun, fun, fun.
Cannot see any RNS that has BDO stepping down as Auditor.