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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.
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.
@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.
"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.
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.
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.
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.
"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?