Member Info for Alibi

They seem to have a good reputation, but on Kouroussa they don't seem to have been performing well. That may be because they've never worked in this part of the world until now and have had problems getting up to speed - and with more experience, they might well sort out whatever problems they are having and avoid loss of reputation. It's never easy to start up in an unfamiliar location. I assume they don't they want to underperform, but asking for full payment when (or if) they haven't met the terms of the contract in terms of volume achieved (which I understand is the root of the problem) seems a bit like chancing their arm. To me it seems that getting the issues resolved would benefit both parties and if they have any sense they won't let themselves get sidetracked by a long legal dispute where the contract presumably defines what is required. Sooner the better.

Why do you automatically assume the contractor underperforming is Hummingbird's fault? You really are this website's Cassandra.

You're jumping to conclusions. I agree that full resumption should merit an RNS, but that doesn't mean it will happen, or happen immediately. There may be a period of ramping up of mining. I think HUM have a past record of sluggish reporting of events. However there should certainly be an effort to update us, and at that point the current stasis should be broken.

"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?

Was anything resolved about that rumour of a new contractor? i know someone claimed it was an April Fool "joke", but the SP rise seems to have been sustained so far. Slightly surprised that there has been no comment from HUM but there are many reasons why that could happen, only one of which is that it was indeed fake news. Had that been the case, I would have expected an RNS along the lines of "The company notes the rise in SP and knows no reason why that has happened". Do we actually have any concrete information about the situation, possibly from sources other than HUM?

For someone who is invested here but only in a small way, you do seem to spend a lot of time talking down HUM. BTW it's "their" mother - maybe best to get the detail right before accusing others of lacking brain cells. Nothing wrong with seeing both sides of the argument with this share, but you really do seem to be obsessed with it. Or maybe paid to be obsessed. Relax - nothing you say or do is going to change whatever is going to happen. Even if you yourself sell out and go.

I think I'd rather they just let it run. HUM putting out any statement has a tendency to make things worse.

Maybe they are waiting until a deal has been formalised and past the point of not going ahead before they release anything. The SP action today certainly gives an indication of what a genuine positive solution to this impasse will do to the SP.

Something like this requires a rapid response from HUM. Even a holding RNS with as a minimum a repudiation of Corica's claims. How on earth can any company allow a debt of £27 million to accrue and not do something about it? My guess is that HUM have maybe threatened Corica with some sort of contractual penalty and Corica don't like it and have gone in heavy as a negotiating tactic. If that is the case, I would expect some sort of resolution to be achieved - given that HUM were about to start printing cash, it would make sense for Corica to get any money owed through production of gold, now imminent. If they force HUM out of business, they would likely never see their £27 million. Get the mine working fully and everyone wins.

RNS required. If HUM haven't been paying their bills, they need to say so and say why. If it's because Corica aren't meeting their targets, then we should be told. Are Corica trying to bring down HUM so that they can get their hands on Kouroussa? Who knows what's going on here? Bit of a shambles but maybe it's orchestrated. Are Corica buying shares in HUM before they suddenly settle the "dispute"?

Without a doubt this requires an RNS. If Corica's claims are true, HUM have a lot of questions to answer. And if the claims are true, why have HUM not being paying their bills, even a part payment if Corica are not performing fully.

I’m guessing the contracor is chancing its arm to try to get more money. Unlikely they actually want to kill the golden goose. Therw will no doubt be negotiation but a contractor that is not contracting will be losing money. I’d guess they might be buying shares in HUM to take advantage of the drop. Disputes get resolved and when that happens the higher grade ore will be accessed. I have no spare cash but if I did I’d be increasing my stake here. This operation is not going to just close down and walk away.

Quote "As clear as mud as usual then - they've, presumably, hedged at $2,001, some $35 below the current Gold price - most definitely mate's rates for someone ..."

Why presumably $2001? Why not presumably $2100? See, I can pick random figures to suit my position. Anyway over $2000 is a decent hedge price as protection against a fall in the gold price - sounds a decent compromise to me given they seem to have got the AISC down beyond the forecast level. Disappointing that the ramp up is a bit behind schedule, but that RNS is a lot better than some were suggesting. as with most things in life, things rarely go entirely to plan, and they do explain why and also that improvement is expected.

Are we not about to see something akin to steady state production at Kouroussa?

It's not just PM. A lot of shares can't be traded at the moment. Some sort of technical issue or maybe hacking attempt.

See posts 2315 yesterday and 0131 today.

Got some cash through from my Hurricane Energy DCUs from their takeover, nicely timed to allow me to up my holding here by 50% at 2.68p. Bring on that elusive RNS, PM...

I lost a fair chunk on GKP. Should have sold when it was over £4 but I didn't, for perfectly good reasons. Still despise that Tory turd Zahawi for his damaging influence which ended up with massive dilution and a share price of under 1p IIRC. Optimistic about PANR but will be adopting a more profit-taking view on this one.

Something leaking out today? Maybe an RNS incoming...?

I would add that Aberdeen could beat Real Madrid, Bayern Munich, you name it, but they couldn't beat Morton.

I was in Aberdeen on business the night before that game. Place was dead. Everyone had relocated to Gothenburg.