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ALTN

Altyngold PLC

Basic Resources First-pass screen £301m
240/1000 Overall fit
AI beneficiary 35% 0
Operating leverage 25% 45
Valuation 25% 30
Downside protection 15% 35

First-pass take

Commodity gold miner with zero AI exposure; adjusted EBITDA negative despite US$1.5m reported profit, driven primarily by US$9.3m one-time provision reversal. Material intangible asset (Karasuyskoye US$27m, unlicensed) combined with commodity price and environmental liability exposure create significant downside risks.

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