ALTYN PLC: Initiation Research by Renaissance Capital
May 17 2021 - 01:00AM
UK Regulatory
TIDMALTN
AltynGold Plc
("AltynGold" or the "Company")
Initiation Research by Renaissance Capital
AltynGold is pleased to announce that Renaissance Capital, a
leading emerging and frontier markets investment bank, under the
agreement for sponsored research has produced and initiated
independent research on AltynGold.
Highlights quoted from the report:
-- Valuation range of GBP GBP2.50 to GBP3.10 per share;
-- Ambitious medium and longer-term growth targets with a forecast 26%
five-year CAGR in gold production volumes and an 18% CAGR over the next
14 years, which would increase the Company production by nearly 10x by
2034;
-- Fair value range shows potential upside aligned with AltynGold's growth
strategy, which combined with its significant reserve base, could drive a
material re-rating over the long term;
-- Limited funding risk for AltynGold's near-term growth targets, due to the
low capital requirements and supportive gold-price environment;
-- AltynGold's EV/reserve of c. $21/gold-equivalent (GE) oz is the lowest in
the peer set, which has an average of c. $300/GE oz, while its reserve
base is among the top-five largest;
-- AltynGold's long-life, high-margin assets, should drive superior internal
rates of return relative to peers and make AltynGold less
capital-intensive than peers over the medium term, as it does not have to
replace reserves as quickly as competitors.
The independent initiation report by Renaissance Capital is
available to view or download at the research portal of Renaissance
Capital and the Company website via the links below:
-- Sponsored Research - Renaissance Capital Research Portal (rencap.com)
-- AltynGold Website
Further Information:
For further information please contact:
AltynGold Plc
Rajinder Basra
+44 (0) 207 932 2455
Renaissance Capital
Derick Deale
+27 (11) 750 1458
DDeale@rencap.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
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/20210516005054/en/
CONTACT:
Altyn Plc
SOURCE: Altyn Plc
Copyright Business Wire 2021
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