We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
After reflecting on the RNS, I have come to the
conclusion this 'illegal activity" was directed at
Hum rather than Hum being inconvenienced by
something not connected.
Which does not particular bode well going
forward, I hope I am wrong, but why would HUM
escalate it to the Mali government or have to
carry out full assessment of plant and equipment
when conditions allow,I have no doubt they will
resume mining soon with the help of the Mali
government but its not a great backdrop.
Hopefully we get a resolution RNS through
sooner rather than later otherwise the SP will
just drift downwards, it did look promising but perhaps it was just fools gold.
This wont get taken private: management have a small % and a track record for asset stripping. Why pay when they can just transfer assets at an undervalue to another entity in which they have a significant holding?
The real understanding re HUM itself is that the management is a bunch of chancers who know that Yanfolila will be highly profitable if the POG goes exponential (as many of us here expect). Instead of setting out the true picture, they consistently lie. They bank on the retail nature of their shareholders to see that they are not held to account and covid has made it difficult for our voices to be properly heard at the AGM.
Look like our volume is going ro hit 6m by midday. That's massive for HUM. Loads of people giving up... and loads backing up the truck.
Yeah. I get it. And I understand the murkiness of small miners. But i reckon there are easier and cheaper ways to get cheap HUM shares than that convoluted process. If they had wanted to drop shares during this window, they would have done it on the Kouroussa finance and chose not to. I suppose a Dugbe capital raise is a possibility, but that's a way off, still. If we're proposing conspiracies, personally, I think a buy out, if not of the company, then an asset, is more likely right now. Would be an incredible time to take it private.
Oh, I know what the game is.
Swamp, why?
It's a money-spinner for certain parties, that's why.
Bonker, yes, I first bought at 36 or so. I'm now down to 21 odd, but am not comfortable with how much I have here.
So even now, I need 50% to get my money back.
Not good.
@anon - doesn't matter if you meant me or not - it is what it is, all part of the game - they obviously don't "need" a placing but ........
I recall I first mentioned a placing the very day before they dropped the Kouroussa news - perhaps I hit on something then so they dropped the Kouroussa funding news to forward-sell it at 20s.
I was already in and knew I'd be holding for at least six months so I've genuinely not sold any but have added a few - again, mid teens is fine by me - the value in the assets is so clearly multiples of this £50m mcap even with me valuing Yanfolila/cash at £0.00 (irony!!) and it's all relatively near-term depending on your own perspective.
Sucks if you were in a year ago at 30s obviously and condolences for those guys but the clock is ticking and I've no doubt whatsoever that this will be back there in 2022.
Your money though so you all have to make your own decisions - cut and run or call them out with more money - it's all psyops now.
Oh, something else that occurred to me a few days back, but I forgot all about it;
Why have we not seen any director buys for around 18 months?
Surely this is an absolute steal now?
Re placing - well obviously ahead of all the news to come in the following months of course - it just is what it is.
I wouldn't be surprised if they placed around here to let the boys/themselves in at a comedy price then, as sure as eggs is eggs, the next news bomb will be a takeover offer and it'll open up at 50p+.
I'm here for what looked inevitable in 2022 - this nonsense only firms my view :)
DIM
"HUM is now valued at circa 2x Cora, assuming zero net debt at HUM, but with a proper reserve of >1m oz, in other words is a better propsector than Cora. Yet market is discounting all that and the production units......That how misleading DB is to the market. No one trusts him. been saying it for a while, but now is embarrassing but HUM should look to merge with another small or mid sized producer on a paper deal. This is all too much for DB, he has no talent in this game and should leave"
Let's not forget that CORA is essentially the disposal of a HUM asset which funded the position they're in today.
I would imagine the plant is closed because roads might be blocked by the protesters, if you're wagons can't deliver ore then you have nothing to process. Which you'd expect to be a very short term problem.
I myself have been wondering just how many excuses could be left to bash the sp before 2022. It appears that DB betts has much more of an imagination than myself
I think I'm possibly the placings denier, referred to. Just not a thing here. We have the cash we need and there are all the cheap shares anyone could want, already currently availible. What would the point be? If they had any intention whatsoever of doing a placing they would not have gone off and got debt funding. I think this is one conspiracy theory we can put to bed.
Sorry, Bonker, I didn't mean you specifically.
There have been some on here though who have basically laughed at anyone who suggested a placing though.
Why you'd need a placing when we have the loan facility and are supposedly throwing off tons of cash, I don't know, but it really wouldn't surprise me.
I've never denied a placing possibility - if they want in at a manufactured bottom (aren't they all?) then it's the obvious thing to do, even if it is predicated on total BS - again, aren't they all? ;)
It can get a lot dirtier than this, a lot. Yes he has the "talent" to enrich himself and those around him, but that requires the underlying asset to eventually deliver. So one needs "real talent" to play the game. I'm afraid DB has neither of the "talents" and is just simply incompetent at either making money for SH or himself, other than printing a silly salary.
"I wouldn't be surprised to see them place at 14p to let the boys in"
That's not possible.
Loads on here have told us so.
We need to draw on this coris loan before credit markets inevitably tighten.
The only news that will provide some stability to the sp here now.
I suspect DB has precisely the right, er, "talent" for this ;)
I wouldn't be surprised to see them place at 14p to let the boys in - it's gold, it's mining, it's AIM, it doesn't get any dirtier than this but they do it for a reason, yes?
2022 is still 2022 ...
Did a trade here a little while ago for a quick few £k. So much potential, but unbelievably poor mgt. Problem with putting a trust fund baby in charge. I've always said the assets are so strong that even even DB can't f@ck them up. Not so sure now. As someone has pointed out already it looks as though Dan is using this as his most recent excuse for not being able to hit guidance, both production and AISC. Easiest way to find out is whether other companies in the area have shut down their ops. If not then Dan needs to go. He will be guilty misrepresenting a situation to his shareholders in order to cover up his incompetence. And even daddy must say this is a step too far. I'm actually hoping he is lying and gets caught out. He's grossly out of his depth and has proven to be a complete charlatan of a ceo. Hoping he gets shown up and finally has to step aside for the sake of shareholders. The fact IIs have sold down here should say it all wrt confidence in mgt.
"I don't know how it works, do they keep the goodies in a vault or something? I would assume so, so that's safe"
No they just neatly stack it by the gates and rely on the trustworthiness of people!!
Been mentioned here this AM, this is the ultimate get out of jail card for Dan and his cronies. Its part of mining in that part of the world to manage such things, DB is too busy drinking expensive wine at Alfred's to work on such things.
HUM is now valued at circa 2x Cora, assuming zero net debt at HUM, but with a proper reserve of >1m oz, in other words is a better propsector than Cora. Yet market is discounting all that and the production units......That how misleading DB is to the market. No one trusts him. been saying it for a while, but now is embarrassing but HUM should look to merge with another small or mid sized producer on a paper deal. This is all too much for DB, he has no talent in this game and should leave.
With aisc likely to be around 1700 for q4 I'm not sure we can afford a serious security operation
I've re-read the RNS and some things concern me.
"The situation on site remains calm and orderly with all employees and contractors safe and accounted for. Once conditions allow, a full assessment of plant and equipment will be carried out and any potential impacts will be evaluated. "
Why would you need to do an assessment? That doesn't sound like a "calm and orderly" site to me.
Either it's been stormed by protestors at one stage or it's been temporarilly abandoned, imo.
And then, if it has been stormed, would be possible to steal some gold?
I don't know how it works, do they keep the goodies in a vault or something? I would assume so, so that's safe?
Oh well, maybe the upside is we now know without any ambiguity, why the SP has been so low and II's don't want to know.
Maybe it means we need to employ a serious security team? What would that cost?
pretty vague rns, it does not make clear if
hummingbird was the focus of the 'unrest'
or we were inconvenienced by it.
As always this share is a gamble are the
potential gains worth the risk?
Still curious how they have commenced
construction at kouroussa but have not
announced the first drawdown?
will they follow up with this RNS or will we
be left in the dark?
It was - I guess you can't have everything - without waiting for it at least :)
Let's call this the DS drop before the inevitable SG 2022 run back to 40p.
At least it was a good win on saturday :-)
Indeed :)