Taser - fair commentary on all that has happened so far although I thought you were a bit harsh on stuttering bit. Not sure I could have done any better and I don't stutter! Shame they didn't touch on the fraud and delay to accounts. I know it is a bit sensitive but to completely ignore the elephant in the room was a disappointment.
The drilling results looked good and I liked his point about no extra drilling ramp required since they can just drill through to the new veins.
It's always difficult to attempt to put hard figures on drilling results but it looks like the they are at the very least maintaining reserves at Palito on the back of the downward drilling. As far as surface results go. Yes they don't look too good but clearly there is gold further to the North and South (400-600 metres I think he said). Again it's difficult to know what this means in terms of increased potential.
Do you know how long the existing vein structures are for Mogno and Ipe. I can't seem to make it out from the drawings.
Still you're right about negative goodwill. It seems to exist for pretty much the entire Junior Miner Sector!
Hmmm are we talking bitcoin now?
Lol - enough for a decent holiday would be a start
Just topped up £10k at 7.43 - let's see whether that was a good decision....
This will no doubt enrage old Bushy Tail but I've also topped up. Assuming the audit was done properly (no reason to assume otherwise) then a big risk that the fraud went much deeper is off the table. Plus gold is slightly up and the drill results show at the very least gold is being replaced as fast as it is mined.
If the overall stock market is in retreat so what if the NPV of the particular operation that one is invested in goes up?
Terminal decline eh? Nobody told the share price! If anybody listened to investor meet this morning then maybe they'll agree with me that this has still got much further to run.
It's more than possible to make a heckavalotta money in so called declining industries.
Think of the fantastic run big tobacco has had since the 1990s/
You just need a monopoly and decent management...
As a CMCL shareholder I'd second your comments. At the moment ZBW is no worse than the average African jurisdiction and better than some e.g. Tanzania
Really what are you talking about - debits and credits? Next thing you'll be telling me you're a fully paid up accountant!
This whole debate arose around the ability of HUM to fund future development. You can spout as much faux accounting as you like but you cannot avoid the fact that if net cash goes up by 20m a year and you start with 1.5m net cash then you have ~20m to play with. Not the fantasy numbers you seem to pull out at random of your anus.
For serious investors the question is, is 20m sufficient to fund both Guinea and Dugbe?
My guess is probably but it will be tight. Nothing further can go wrong with Mali operations, the gold price and costs will need to be spaced out as much as possible to ration cash spend. That could mean delays to the development timetable which of course will disappoint some.
But then the alternative is a capital raise.
Life ain't easy when you're a junior miner...
I refer you to DMs original point - you know the one you studiously avoided to answer and covering your tracks with insults.
I quote -
Q1 2021 net cash $4.9m, Q4 2020 net cash $1.5m. Ergo NET CASH added to the balance sheet $3.4m
For the avoidance of doubt I believe net cash INCLUDES the repayment of loans. Geddit?
BT you said "No one said 9 million net cash was added,"
Apart from all the insults what did you say?
NOTHING - just a load on insults - well as a reasonable person I think dropinmonkey has a point.
If you generate 3.5m cash over one quarter then allowing for say improved grades in later qtrs then - 20m at year end is a reasonable proposition?
If you don't agree and, save the insults , tell me why, cos I'm still waiting after this whole debate!!!
You can always tell how the share price is doing by the language. Anybody who complains about trolls whilst simultaneously add c**t is clearly lacking a fair degree of self awareness.
TBTT may or may not have an agenda but I've found it analysis reasonable on this and other boards. By all means wish him away but that won't help the share price.
Who knows about Karoussa but Dugbe is a different matter. They look like having a giant prospect on their hands. They've bought some time until December but after that they'll need to pony up some cash.
Question is - will they be earning enough margin between now and then?
Excellent thanks!
Any idea when we are relieved of our shares in exchange for the above?
Likely timescales?
"earnings infliction point" - love it!
I think you've hit on a new way of describing the impact on us poor investors of the average quarterly update from HUM. Over the last few quarters at least.
Ha ha
Not sure I understood all that!!! First things first I'm not positing like others on the bb that HUM are not generating cash this quarter, I simply don't know. But I think it will be tight. As far as the spiel on the costs are concerned I look at as follows:
AISC covers pretty much all the day to day costs of running the mine and including longer term provisions such as remediations etc. However, each company has their own interpretation of what AISC means so some costs are excluded e.g. exploration i.e. drilling.
Given this in terms of overall profitability you need to look at AISC plus additional stuff like drilling that has been excluded. Currently if I had to guess HUM are marginally profitable.
As far as cash is concerned not all AISC incurred in any quarter will be spent. Much will be spent in the following quarter and some much further out than that. So first iteration says that cash flatters the overall position. However, 2nd iteration says some cash will be spent this quarter from expenses incurred in previous Q1. So that pegs cash back a bit and results in cash being more in line with ultimate profitability.
However, I think looking a cash quarter by quarter is useful but accruals DO count. Sooner or later some of that lovely cash in the bank will be earmarked by obligation incurred today.
Make of that what you will!
Did your calculations include exploration costs budgeted at £10m? As per the Vox interview Dan confirmed they are not in AISC figures. If you did not include them then knock of £2.5m per quarter...
Chaps, chaps. Rather than hurling around the vitriol this is at least one argument that can be resolved by good old fashioned facts. At the end of Q4 2020 the company stated it had net cash of $1.5m represented approx by cash 11m gold 4m and debt of 13m.
Let's see what happens quarter by quarter. ...
Tiger - it would be good to see some IRR figures on KEUG. With underground mines AISICs are inevitably higher and higher grades are correspondingly required!
Also as per the interview good to have it confirmed the drilling costs are not included in AISIC. That means add another $100 per oz for a $10m spend!
I've noticed your posts have dropped off for SHG and you seem to have upped your contribution here.
Does that mean you've dipped your toe in?
Stockable - also worth noting that Tharisa is looking at ZBW too for expansion - a vote of confidence? I've got CMCL and may well top up so yes I'd recommend them