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Under the Citi Code on takeovers, Rule 9, CIG must pay a minimum of 11.2625p per share if they wanted to take over HUM.
Trex1 - but why would they need to do a takeover if HUM end up defaulting on there loan obligations?
Coris is only the lender, Coris Investment Bank is a shareholder who's rights sit pari-passu with all other ordinary shareholders.
Read and learn about things that might be important to you then that way you won't need to invent or listen to conspiracies to fill your knowledge gaps
Sorry edit... Coris Investment group are the shareholder
Until the $27m claim is resolved and we have a resumption then this going nowhere - risk is so high now as it stands
But it’s not $27m
Also hum is holding the cards
As they can replace the contractor
Probably on their way to implement the works themselves
Until we hear further we are all talking rubbish
Hum will not fail at this juncture
That’s for sure
Jesus wept you think its a simple as that - it would take a huge capital and time investment to "just implement themselves" plus you still have a $27m claim and obligations to resolve from Corica Mining
Approx 4 weeks and 5 million per fleet, so probably actually cheaper and quicker to jog them on. Let the 27 million claim playout in court will take year if the terms of engagement are governed by English Law and even longer if governed by Guinean law.
*years....
Hate this phone
Weakness starting to build in USD/JPY will be good for gold when it finally falls out of bed as it will start to make gold cheaper to buy in Japan.
Pitty HUM has no one to get the gold out, this is dragging on now
I suspect that whoever is supplying the 5th fleet, has also been tapped up to provide additional fleets, perhaps with a possibility of becoming the main contract miner.
They haven't announced that the bank have agreed to a delayed debt payback schedule...
Need to become an owner operator at both sites Spacehoppa... HUM have been nothing but D1ck3d around by fleet contractors for the last 3 years now.
It would seem the sensible way to go BT, although that doesn't mean management won't balls that up as well.
For now getting ore dug and processed, whoever does it, is all that matters.
The trouble is Dan is useless and the people he employs are even worse. Does anyone remember the amazing Anthony, new COO, come to save the day? Absolutely full of it and inept.
But it would make them more accountable Spacehoppa, IE nowhere to hide
In my opinion in should be sorted really quickly, quickly,however if it drags on little bit further that it can impact company's finances and there wont be any room for any further mistakes.
If you know the bigger picture you don’t worry about the short term movements
The BOD know what’s coming and they cannot control the day to day share price
Hum has potential to move to multi bag
Done it before will do it again
I’m now waiting for a barrage of abuse
But do I give a F
I’m down a s h i t load here but I’m not losing sleep
Over it
2nd qtr this will be a different company
The gold price is not relevant to HUM anymore
You're right Jammin, we should just stop bothering mining the other 90k ounces a year at Yanfolila as it's not worth it anymore. Yanfolila alone literally produces almost 3 times what all of Searbi does, then there's kor which will be sorted by Tuesday (hopefully) then there's the 1 billion NPV at Dugbe all for less than the price of SRB's 30k
Too much here to pump and dump, this is the opposite... Dark pools are operating here.
Seriously though, don't put too many eggs on Coringa it'S been only 2 years away since 2020 and they've still not plugged the funding gap.
Good post bushy…. Seriously there’s some clowns on here don’t understand the business model or the timing.
2nd qtr hum will be a different business
Not long now
Working capital must be running out soon, add on interest payments and now apparently buying a new mining fleet or 3.
I can’t see why you imagine it’s a buy right now.
Key things Im looking for-
All management removed by CIG
Dilutive capital raise
Absolutely a no go unless the above happens
Zero alignment between management and shareholders
RNS. Still no closer to sitting this mess out
Bushy, I'm not putting too much in ANY small cap miner, because they face such company specific risk.
My thesis remains that the gold price is going up, and I want to capitalise on that. Hummingbird is a dud, but others are doing incredibly well.
At current share price this still has a 40m market cap, so there is a LONG way to fall still. Don't be surprised to see this keep falling while awaiting resolution.
Best thing they could do at this point is fire management