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Checking the Hum share price and seeing its gentle upward appreciation the past couple of days has been a nice change. Some welcome news on the way perhaps. Interesting that yesterday’s exploration update was KE only. Perhaps there’s exciting news from the greenfield drilling, we’ve waited a long time to test Diaban…keeping fingers crossed for a Cora like quality update!
Quick thanks to Tones77777 and Bushy for earlier conversation on LOM, much appreciated
I'm in a lot of gold miners/ explorers and HUM is not only one that's significantly down from the highs of last year! Fres, GGP, Solg (I could go on but I'm quite embarrassed about the rest of my portfolio atm!).
Ultimately, shareholder value is king and HUM have lost 50% of its share price in a year so blaming the detractors seems odd. In a time of higher than historical average gold prices, HUM's share price has been hammered. Even if as you say operationally they have achieved some good things and its the markets fault for not recognising value, HUM have scored some serious own goals in the past few years.
Having said all that, I can see clear improvements recently and changes to the team definitely seem to be paying dividends. This is a bargain, no two ways about it and when the market start to trust DB, I believe the SP correction will be rapid and substantial.
Hi bpat
Thanks for your reply … fair point however it depends how you measure success . Pretty sure 99% of investors measure that with share growth. With that it’s pretty clear hum hasn’t been successful yet not saying it won’t but it’s clear to me right now it’s not progressing as I would of expected.
I will depart this board for the foreseeable and hopefully it will change in the near future
Lobon - Respect your opinion if that's how you feel but I'm not sure you are right on the second ball mill - "hence no increase on said production even after adding a second ball mill"
The Yanfolila crushing circuit was prior to the second ball mill s a two-stage operation, both primary and secondary crushing circuits designed to treat mainly oxides and a blend of oxide and transition ores. The second ball mill was installed to increase throughput capacity from 1Mtpa to 1.24Mtpa.
The 25% increase in capacity is notable in the 2019-20 results when we were still processing high grade material.
What has happened is the grade of material has fallen from around 3.4 g/t (March 2018) to below 3g/t and more recently the quarter average was 2.1 g/t I think. It is the lower grade material cancelling out the net positive benefits of increased capacity. Grade control has been flagged as the key issue management are working towards resolving but will take months yet to work through this lower grade portion of the pit. Once we are processing higher grade ore, averaged costs fall and output increases.
I'm sure you're aware of all this already as you're bothering to post here. Why else spend time replying to HUM investors?
The new COO seems to have had a very positive impact with a record amount of ore being processed in the last quarter.
This should make a significant difference to ounces produced when higher grade areas are being mined
If you're going to make up deramping nonsense about drilling and aiscs, at least take the time to read the operational updates. Filtered.
Dont worry I have been where you are right now thankfully I got out after with a profit , certainly not relative to length I held for . I have sat with DB & BM for several hours and met many of the team .
Let me tell you comms were addressed then , my conclusion after holding for 4 years was ….it was little more than a vanity project for Dan . However losing the hard working Burt was a big loss to Hum.
My opinions are based on the business then and now , it’s simply hasn’t changed , the market agrees with this sadly.
I noticed the point I made regarding gonka has been conveniently ignored and the much hyped 150k oz production.
The drilling campaign has been patchy and very slow , hence no increase on said production even after adding a second ball mill … prove me wrong if you wish /can
Chuck in the odd bridge failing down and unexpectedly high strip rates .
Haha patchy drilling campaigns!?? You've lost all credibility after that line, you are the first person I've ever felt the need to filter and thats saying something on this site. IDIOT
And that's another loonie for the filter bin.
Oh one last point no one is interested in assets lower than 3-4 million oz ….. Dan Betts 2018
The market simply doesn’t trust the management here, ever decreasing production, LOM and patchy drilling campaigns.
With the ever increasing aisc which investors shouldn’t be so flippant about thankfully record gold prices have kept this viable . Heaven knows where this would be without covid.
I seem to remember HUM stating gonka would increase production to 150k oz PA , where has that gone ?
If you think there is no downside here you are very much mistaken , the very same management paying a little more lip service right now to the PI doesn’t cut it for me .
Results on the ground end of ….
Putbitbanother way...
Let's say in three years time the SP still hasn't broke 30p but the company has two mines pouring a total 220k ounces a year with no debt and a 10p dividend.
Would the dan betts still have failed and destroyed shareholder value?
There's seems to have been quite a fair bit of correlation between some individuals overall understanding of certain things with their opinion of Dans performance.
Show me a more transparent and effective bod on AIM, ignoring sp performances as that's not really a bod's job or responsibility and I'll sell HUM and buy that instead.
I remember there was an article ages ago about potential takeovers, HUM was on the list. Its one of the reasons I'm invested. The equipment at Yanfolila probably cost more than the entire market cap right now (imo).