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I agree TwoGoals...however any new investor needs to (i) believe in gold and it getting stronger (ii) want leverage to gold in the form of a mining share (iii) be prepared to accept a (temporarily) high AISC here (iv) be prepared to accept the geopolitical and weather issues and risks associated with Mali (v) be comfy with Hum’s corporate governance (vi) be comfy investing is a relatively small cap company. This will screen out most investors, even those with a ‘high’ risk appetite! However, debt free is a big plus for which there’s been little credit in the price, the 2nd and third projects once underway will derisk, and above all cash in the bank will reassure. For now however it seems to be the hardy few invested here who continue topping up. The last director purchase was June last year so they have not been tempted by the lower share price yet...
HUM has £10million gbp in bank/gold. Therefore a Fully paid off Yan with significant drilling results to be added to 7 year plus mine life… Own another similar potential mine in a separate country that can double production plus a 50% of Dugbe & Bunker Hill investment is all valued at £65milliion???
All amongst the back drop of the highest inflation since the 1970’s? Our time has to come…
Wednedays gold price dropped under $1796 before the FED meeting and a lot of gold miners share price also dropped as well. However as the FED has confirmed US interest rate hikes are still a distant event. I believe inflation is here and its going to last for a long time and interest rates will have to stay low for a long long time for the Governments to pay off its estimated global debt of $289 trillion, whilst at the same time assets and wages need to be inflated. On the result of investors knowing interest rates are to be kept low for the foreseeable future gold price has increased to $1830 per oz. I personally feel gold price will reach $2000 by the end of the year due to stagflation, high unemployment accompanied by rising prices. Also, if the governments try to tax cryptocurrency investors as per Bloomberg today ‘The provisions would raise an additional $28 billion from cryptocurrency transactions’ more people may invest in gold instead. I fully agree with Panda1’s points, also as per the Vox interview the purchase of Kouroussa will be part funded from cash from Yanfolila and debt funded from Coris bank (hopefully as little cash as possible to continue with exploration to extend the mine life of Yanfolila) as they have proven they can pay their debts. There was no talk of placing and no reason to do this either. One of the positives of HUM is the shares in place are only 392 million compared to some other junior miners who have over 1 Billion shares. Dan Betts has openly admitted he made mistakes in the past and with Yanfolila and has admitted he has learnt from this. Regarding Tones 're-entry' post he could have got all that from earlier RNS's and listening to the interviews from Dan Betts. Employing the new COO is a shrewd appointment and hopefully the AISC will keep reducing. They have also stated they have put measures in place to help with the rainy season, so I am looking forward to the Q3 results regarding gold poured/sold and AISC reducing further along with confirmation of the capex and funding for Kouroussa. Yan is now a debt free mine & exploration has discovered significant results. Kouroussa has a very high IRR of 98%+ and Dugbe has a NPV of over $1Billion at current gold prices. As an investor I am here until Dugbe is in production and will keep topping up my investment in the dips. I still feel the SP could increase by 100% at these prices compared to RSG, PAF or SHG (they may be larger gold producing companies) but if you look at the market caps and shares in issue. HUM’s current SP is 19.5p with a market cap of £76.57m, 100% SP would be 39p with a market cap of only £153.145m. RSG SP is 28.10p, 100% their Mcap would be £635.8m. PAF SP is 17.62p for it to increase by 100% their Mcap would be £680.904m and SHG SP is 13.28p to increase by 100% their Mcap would have to be £283.5m, so HUM’s market cap after 100% increase from todays SP would only be slightly higher than SHG’s current SP.
DYOR and GLA!
There are no disclosed short positions so, if there is a shorter, it can’t be a big position, unless they just haven’t disclosed. As you imply, sooner or later, whoever is applying the brakes will run out of ammo and we will be off to the races!
I guess if your sustainable you’ll be shorting this until you know you’re finished?
Isnt there a website that states who is shorting certain stocks?
BTW, no way is this just Sustainable offloading IMO, it's the shorter but they're going to have to close out at some point, they may be using the sustainable shares to do so but the comedy U/T closes etc and dropping of the ask are the giveaway ...
Gold/Silver flying - if this ain't moving here and now then it's never going to.
Added.
I also topped up, yet again, telling myself these are ‘on sale’ so it’s a great time to buy (and average down in my case). Trouble is they keep getting cheaper...let’s hope they turn the corner soon. Thanks for the reassuring summary Panda1. I sometimes feel I know more about this company than my own! What I’m looking forward to are the drilling results. Hum are waiting on a significant number of assays and I think Murray said they liked what they saw in the chips so fingers crossed for for a blockbuster RNS!
I bought another tranche of shares today and didn't expect to have the opportunity to buy them so cheaply.
I'm feeling far more confident now as:
1. Q2 results were positive and it seems like the new COO is making significant improvements which will continue in following quarters.
2. Exploration results at Yanfolila have been excellent and will lead to a substantial increase in the mine life
3. Debt has been fully paid off
4. Kouroussa looks like a fantastic acquisition with a very high IRR and plenty of exploration upside. The drilling results there have amazing grades & intercepts
5. It transpired that there was no problem with the acquisition of Kouroussa. The new shareholders are likely to be strong holders.
6. One of the major reasons for the share price weakness is the selling down of a big position by Sustainable Capital. It only had 2.5% left on 19 May so I don't think there will be many shares left to sell