Member Info for adamsmithfreethi

Yes thanks for the suggestion about the media guys. I'll keep them in reserve for if (when?) we get the brush off?

As you say our interests could be nicely aligned and if Dan doesn't want to talk then we can at least go public with our frustrations

"Maybe he wants to add his name as a shareholder receiving poor value?"

- LoL!

Given the recent Q1 report which somewhat shocked the market a group of private investors have, in response, launched an shareholder initiative.

Our aim is to organise an interactive meeting with the company to try to understand the underlying reasons and to satisfy ourselves that the company has a viable plan for maintaining profitability.
We are currently building a list of all investors willing to put their name towards such as request. Clearly there is no guarantee of success but the more people who are willing to be (literally in this case) counted the more clout we wield.

If you are happy to do this please contact Para at investorhum@gmail.com

Thank you

asft

Sorry I meant Juxtapose in the message below...

You make a good case for sticking not selling. However, one part of your explanation did not appear to stack up. It relates not to the past but to next year.
If in the rolling plan as per a couple of days ago they are targeting higher grades - "mostly part of one fault", how come the AISC is going up NOT down? Compared to last period production is the same. Drilling costs may be up a bit not that much so where are the increase in costs coming from?

Maybe but it would be good for the company to confirm your eminently reasonable explanation.
Is that too much to ask?

Well Tiger if they are paying "tribute" and it is a big IF then no wonder DB is keeping stumm. You get banged up under the anti corruption act for doing things like that! It'll not be a question of slipping the odd fiver to a border guard which you can get away with but actually paying the big guys some serious money which presumably is traceable.
Come to think of it under this scenario the company would be fined to buggery and we'd all the stuffed.
I'd rather not think of it....

Also if we do get something going worth going on to other Boards. I'm sure this Board is not alone in being unhappy

Many people have suggested writing a letter to Board expressing our dissatisfaction. I think this would be a useful first step. However, before that I think we would all sign up (with no obligation to take things forward) to a group. Perhaps with a % of our holdings in the company (perhaps not??). If anyone has a working knowledge of cloud services all it would take would be say a spreadsheet with name location and maybe holdings. Unfortunately, I've not yet built any web applications so no volunteering myself for this particular task

Agree - we need to take this one step at a time. Perhaps we should first decide whether we are serious about organising. If we are we need to do some basic stuff e..g. Identify who we are, how much we own, choose a representative(s) and decide what course of action those representatives should take on all our behalves.

I would like to see Betts properly interviewed and quizzed in detail about the fact that costs seem to be spiralling out of control. Ironically in the Pasofino interview the guy gave a better explanation of why costs in Mali tend to be so high than I've ever heard pass the lips of Betts.
The Vox interview was a joke...

Ian Stalker is excellent - to be honest I've more confidence he can pull HUM out of their rut just by exploiting Dugbe. Perhaps we should just shut Mali down and await the pennies from Dugbe heaven....!

Anybody knows if the company is being interviewed and when? I hope we get an interviewer that tries to get some answers rather than the flim flam we're had in the RNS

Maybe you don't understand the definition of fatalistic?
When the company originally made the decision to apply for the licenses did they do so on the basis that they had no idea how long it would take.
Imagine the boardroom. Boss - hey guys we're gonna start of new mine in a new country. Response - great idea boss. Err - any idea when? Boss - dunno maybe this decade maybe next. Maybe next century although by then they'll be mining the stuff from asteroids. That'll be a problem. Come to think of it I'll be dead too. That is a problem!!
No not good enough. There are other mines in Guinea presumably they went through the same process. How long did that take typically etc etc?
I've got money in other miners e.g. SRB and CNR who are also applying for permits. With each of them they give a much better indication of when the next step will be, if it is delayed why and how they are going to catch up. What about AAZ who have now secured new mine concessions in previously occupied areas and agreed with the Azerbaijani government to set the clock back to zero. Now that's what I like!
HUM is relying on folks like you being a bit too trusting of them. Remember the old adage - never fall in love with a stock. Never mind the CEO...

Donno what happened to my post post it just disappeared! To repeat - I just don't agree with the fatalistic attitude. The Board decided to invest in the new mine. They must have weighed up the pros and cons and based on their experience with the existing mine have made their decision. They should be judged on that decision. They must have had an original timetable with milestones and we, as investors, should be capable of judging progress against plan. However, I just don't get any sense of being able to do that from reading back through recent RNSs. Vague assertions of progress just don't cut it for me.
I'm OK with the current mine but I don't want the profits from that chucked down the figurative new mine shaft in the sky.
More accountability please. Maybe we'll even be allowed out to go to the AGM and eyeball the Board in person. That'd be nice!

test

Sorry I don't buy the fatalistic attitude about the new mine. First and above all the management are responsible for their actions including the decision to invest in Kouroussa. They must have done an appraisal of the rewards and risks and now should be judged against those calculations. Secondly, there must have been a project plan with a timetable. If there was I can't recall specific references to progress against original milestones. All I hear and read are vague assertions that progress is being made. Not good enough.
I'm OK with the existing mine but if the money generated from this is not be figuratively thrown down new mine shafts in the sky then the Board should be held to higher levels of accountability and for that to happen we need more detail.

We're currently lurching from RNS to the next. I would love to get my teeth into some of the detail in the AGM later this year but will it happen in the flesh?
In the meantime I want to see some real tangible progress on the new mine next door to Mali. None of this "we are progressing well" or "it's taking time because of Covid". Enough to the BS, Covid seems to be much less of an issue in Africa maybe because of the average age and a less mawkish attitude to death in developing countries. Covid is not an excuse so how are we progressing on permits etc against the original timetable? How many more bribes need to be paid and palms greased? In short when will we see some action?
Ooops - sorry about the bribes bit but my cynical side tells me that's still an essential part of business in this part of the world...

Thanks for the link. The guy being interviewed didn't exactly fill me with a lot of confidence, he seemed to know a lot less than some of the leading lights on this board.
However, what he did say, although it may be apocryphal, is that he has a mate who claims he's made a cool £1m out of trading AAZ over the past few years.
I'm pretty happy with my holding but.....

Have just seen the light.
Previous holding 9.2% - current holding ~ 0%