Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Let it go publican, your post on the 18th March proves my point. You called the dip wrong, tried to catch a knife, lost a finger and panicked.
Let it go publican, your post on the 18th March proves my point.
"Buy when people are fearful" 🤣🤣
Hum have fallen out with numerous contract miners though and Corica have never had an issue with anyone.
It seems there is a concerted effort on here to talk this down lately.
Meanwhile the SP continues to rise, although in fairness, the trading action doesn't justify that rise.
Whatever,
"you don't stop mining when you're that close"
And you don't continue to be had over a barrel either.
You can't continue to pay a contractor that is not performing anywhere near where it should be. We have a similar situation in my current contract at work. The contractor is not working as fast as is required by the schedule, that was agreed to before the job started. The reason is although the job requires 6-8 men working full shifts every day, there have been just 2 or maybe 3 at best. The contractor has asked for the first staged payments. My gaffer's reply? Finish something first and I'll pay you for that.
That's how business works.
Should my gaffer pay them when they're not performing as agreed?
This is what has happened.
I've suggested that we bring someone else in. My gaffer has said that he needs to hear the contractor's response first.
Ie, he's giving them every chance, even though it's obvious that the contractor is taking the proverbial.
Because that's how business works.
This is exactly what's happened with HUM.
It was RNS'd that HUM had brought a seperate fifth fleet in to help out. That is a FACT and about the only one we know apart from the suspension.
Everything else is speculation, but business doesn't change. If they take HUM to court, it will be agreed that they haven't performed and that 27 million is very likely to be a third of that if they're lucky.
And those who are saying they haven't seen any value from this share need to change their approach, imo.
Don't look at it as an investment. Chuck a few cautious quid in and remove it when it doubles. Because it will.
15p is nothing like a big ask here, imo.
Well, I remain surprised at the rise here in the absence of news. It's back to the price I sold at and I'd be lying if I said I didn't wish I'd bought at 4.5p and flipped them today. I'd love (probably a little strong for my feelings here) to be able to buy back in. In the absence of news I believe this is as likely to end up at 0 as doubling. There is clearly a case for significant cash flow and value creation, but in the 9 years or so I've been here, I am yet to see any value creation. Just a long history of messing up everything possible. There can be no doubt that Dan is inept and another disaster is never far away. I hope you guys make money here because I'd take no pleasure from seeing you endure a repeat of my experience. Make no mistake though, this is far from a dead cert. It's a complete gamble.
ThePublican777
Posted in: HUM
Posts: 1,211
Price: 7.95
No Opinion
RE: …18 Mar 2024 11:08
Tony regardless of if it’s sorted tomorrow or next week operations have not stopped and they can put the stockpile into the mill
You’re been over dramatic as you well know , this will be sorted and it’s over done now the fear , like I say it’s an easy top up for people hence why you’re here. If you knew what you were doing you’d be buying the fear but you don’t
Imagine posting everyday contrary to a nigh on 50% move upwards. Sounds like a case of bitters and not being able to let go to me.
Whilst you're busy moaning about it, you literally just kissed away 50% because you have no balls. You're meant to trash it on the way down then buy it and laugh on the way up. You seem to have it the wrong way round 🤣🤣🤣👍
I managed to Increase my core holding by 30% for gratis, absolutely zilch, nada, zero but each to their own I guess
Again why do you want to comment if you dont hold any shares in the Company ? May be a sham for you but I bought in at 5.5p so im up 50% as it stands, I hope others are in the Blue too !
If your not happy here then simply sell up and go away, If you have already sold up then just go away and stop trying to put others off holding just because you have now missed the boat,
There is a lot of money to be made here if you stick with it IMO I have 500k shares and im keeping them for at least 12 months , Maybe i will end up 50% down, but more likely i will end up 200% up from the level i bought in at ! GLA who are invested
It's HUM. What do you expect?
When it goes down everyone's moaning....when it goes up everyone's moaning!
I’m not a fan of anybody who isn’t performing well, but don’t confuse that with doing business.
HUM have built a gold mine going into production at the start of a gold supercycle, where the gold price has no resistance points above it and HUM’s share price is rock bottom.
The main contractor/client contract will have an arbitration clause which is relatively inexpensive, quick, binding on both parties and cannot halt or hinder mining operations form here on in. At this stage most of the arguments will have already been documented and the main contractor won’t want a trail of legal battles that frighten off other existing and future customers, suppliers and financing. They are in a service industry after all.
"Today 11:41
You forgot to mention, followed by a lengthy expensive legal battle that we can't afford."
You really are a little ray of sunshine, aren't you? Are you getting paid to undermine HUM or are you just a sad wee man who is underwater and can't breathe?
You forgot to mention, followed by a lengthy expensive legal battle that we can't afford.
For everyone who falls in love with a share, there's ten more who make 20% somewhere else then convince themselves they know everything about everything.
FRES and CEY funding my top ups here. Happy days
Hi DavidBrent, Contractual failures follow a pre set path. The main contractor was failing last July (RNS), standard practise is protect your project. Bring in a second contractor to keep the project on schedule(RNS) and as a benchmark to investigate failings. The supporting contractor is asked “do you have the resources in place to take on the whole work” answer Yes (supporting contractors LinkedIn is shown as gearing up). A hiatus is required and pre action protacol followed. Hum says it will pay no more money to the main contractor, the main contractor pulls the contract (RNS). Hum has to ask main contractor back(RNS). Main contractor will refuse because there is nothing to gain (they know the contract is failing) then a deal can be done. After about two weeks the supporting contractors take over. The ramp up to full production starts. After another two weeks Hum will issue an RNS, thats about 7 to 10 days away now.
In the mean time gold will continue to climb until July (with small pull backs) , then falls back until January 2025 against a soaring Dollar.
They have clearly got an issue with managing and overseeing mining contractors - from memory they have fallen out with 3 at Yan and now 1 at Kor - there appears to be a real lack of operational nous and contingency planning at the senior management level. The lack of a COO makes that abundantly clear. As does the lack of an experienced Chair to guide the management team and hold them to account.
The production rate just went from poor to zero and we still have debt to pay. I know which I'd prefer!
Why on earth would DB get it right with the next contractors? Why give him any faith when he's repeatedly shown he's not up for the task?
Exactly. DB had no backup plan. Given how risky mining in Africa is, not having a contingency when there was supposedly a year of warning is incredibly poor.
Its his repeated inability to overcome the inevitable obstacles that make him unsuited to being CEO. This is PRECISELY what the good CEOs manage to do - overcome challenges effectively.
And they haven't managed to put a contingency in place over that year. What are the chances they can do it in weeks with cash running out?
Only a crazy person would regard what's happened positively imo, but I am used to encountering crazy people who fall in love with shares on these boards!
Better due diligence upfront.
Better lawyers to tighten up the contracts.
Better communication with shareholders - he's been telling us all was well but its supposedly not been well for over a year.
What do you mean by "keep the peace"?
Do you mean pay them what they want for an incredibly poor production rate?
If Betts did that, then I'd be doing my but too.
If they're not performing anywhere near where they should be, they need getting rid of, not pandering too.
We've obviously already done that and it hasn't helped. Sack them off, simple.
What's frustrating is that the contract was not nailed down right enough when it was being negotiated, to such an extent that contractual disputes could be avoided, or not clearly and easily resolved
I think either they can't afford to pay it in full and that is what is being demanded, or he is engineering a low ball take over. Having a tantrum and refusing to pay, resulting in bankruptcy, just makes no sense even for Danny boy