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Ordinarily I would completely agree with the last comment aw, but on this occasion the tiny company is led by some real big hitters who have significant contacts in the industry. I'm willing to guess if they say the project is a good one after doing the exploration work then project finance will be forthcoming.

In regards to debt payments of $5 mil a quarter, but net debt only reducing $8.4, nearly $10mil in debt was drawn down in q4 2018 for the new ball mill, which was still largely sat on the books as cash at the end of 2018. As it hadn't been spent at that point, that $10mil is effectly net $0 debt. As the money was spent, the net debt amount increased by the amount they spent. Numbers were not good at the start of the year (which are well documented), plus there is obviously interest to pay, plus payable, so net debt was only down by $8.4 mil, rather than $20mil

Regarding the trade and payables, it was rns'd in early 2019 that a bigger than expected proportion of the cost of the remedial work to the pit wall was put over into the 2019 accounts, so maybe this is a large part of the reason they stayed broadly similar at year end?

Also, the figures for the 1st quarter 2020 suggested (although not mentioned directly) that a significant amount of the trade and payables were paid down, so hopefully it should be a lot lower now.

That was my thinking, maybe it's a prerequisite before certain Institutions will invest.

It may be up 25%, but you can't really compare like for like on this metric. If you look at actual company figures, rather than purely share price, HUM is still undervalued compared to it's peers.

I think it's something the whole world knows about and it's got nothing to do with HUM or the large amount of profit it's making.

Perhaps a lot of people/institutions are over leveraged so need to sell profitable assets to cover losses elsewhere. Just a thought, IMO etc.

Value should out eventually, just depends how far the market drops, but personally I've gone overweight on gold stocks and companies selling their production on fixed price contracts over the last 6 months or so.

Maybe a chartist can confirm what I'm seeing, but looking at an 18 month chart using weekly bars, we seem to be at the end of an inverse head and shoulders formation at this price, which if continued should lead to a break in resistance and a steady climb to 30-35p.

I'm not a chartist and like to go on fundamentals of a company, but many people are chartists and when the fundamentals and a chart match I do find it quite regularly follows the pattern.

As it is ,IMO, this share is too cheap.

I agree with a lot of that last post TBTT. Another quarter or two of steady production and increased LOM should see this increase in value as it's just too cheap at the moment.

Online buying is being limited to around 11000 shares at the moment, so I'm assuming someone is buying up stock while it's at this low level.

I find a lack of liquidity ampifies the affect on a share price in both directions. Yes, when things are not going so well, it can cause a larger than normal drop, plus the obvious difficulty in selling your holding at a fair price. Yet equally, when things start going well (and it is starting to look that way finally after the hard work to turn this company around), shares are equally hard to come by and the share price can accelerate very quickly. IMHO, on normal metrics, this is still looking very cheap.

Would this not just be part of the wider sell off of oil stocks today?

To put it in another context, GGP is currently has a market cap £16mil more than HUM for what is effectively still just a few (admittedly very prospective) drill holes in the ground.
Even with the past problems, a company now pumping out the amount of cash that HUM is and likely to be net cash this year/ debt free in 12 months should have a much higher MCAP.

It's probably a typing error. Another site shows two 10000 trades at 28.5 plus a third 10000 trade at 24.5 all with the same time stamp, so we'll probably see a reversal trade pop up on LSE tomorrow. I've seen it happen ion other shares.

On another note, Shakey mentioned earlier that SDX never rises on low volume, but today seemed to buck that trend a little. It rose from 24p the 25p on very few trades and I couldn't get an online quote at all for the last 35 minutes but could sell my whole holding. Seemed like a lid was being kept on the price.

It could have been a stop loss I suppose.

There must be a big sell or buy order on the books. There haven't been enough sells published to justify dropping the bid from 1.72 to 1.60 as quickly as they have

Ok, perhaps big was a slightly exuberant word, but anything over 21p is most likely a buy, so I make that 270000 buys to 105000 sells.

Has everyone been waiting until after Christmas to buy? After the steady drop there's some big buys today.

It often takes a while to pull away from a placement price as the churn of new shares drags the price back. Also, I'm sure there will have been a few of the sell on news brigade doing their bit today.

This is the way I see it. The raise process was initiated on the 27th Nov, when share price was circa 1.8p. I fully expect those in the know will have sold down plus numerous others who expected a raise. Also, others such as myself who didn't have a position in the stock but suspected a raise in the near future were not buying so a small amount of shares sold drove the price to the 1.5p range. In the end, 8.5% extra shares were placed, which considering the market cap at 1.8p prior to the raise initiation, equates to an equivalent price of approx 1.64p after the raise.

Hopefully that will be the share placements done for some time and if you believe the forecast growth, market cap should increase. It may take a couple of goes to pull away from 1.5p area, but I've considered this a good price to take an initial position.

Plus, the bid and ask have quickly ticked back up again.