The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Don’t know about HMI but I didn’t think I’d be able to top up here today at not much more than I could have yesterday with another torp in the bag.
Funny old world innit?
Of course there is also the possibility that Dan has taken up alchemy, cracked what the medieval chaps were after and has a good use for all that lead.
They won’t release a statement JW and nor should they IMO. They have made the decision for whatever reason and won’t backtrack or explain themselves publicly to PI’s, to do so would make them appear very unprofessional.
I have no doubt Dan or Bert will reply to any questions sent to them directly with whatever info they are prepared to make public but I will have to wait until Monday to contact them as I need to do it from my work email address (which is slightly more sensible than my personal one)
If anyone has any replies from the company in the meantime an update would be appreciated
FSJ I do have to disagree with you on this one.
The majority here invested in a gold mining company and partly, I would expect, as a leverage to the price of gold. It’s a simple proposition - find a commodity you like, find an early stage company that you think can deliver, do the maths and invest.
As for ‘they are a mining comapny’ Yes, as far as I was aware they are a gold mining company, an early stage one at that, not a corporate financier of other projects or a diversified mineral company, a gold miner.
You want to see the impact of investing in brining a former producing asset back on line then go and have a look at SML, hardly comparable but they tanked after buying a copper project in Australia to bring back on line. Good move long term maybe but the market did not like it one bit, and that’s copper on which most analysts are very bullish.
Bunker Hill needs an estimated $90m to bring back online. At the minute it is what it is, which is a few quid in a loan to what seems to be a company connected to goldfields.
I’m not sure I want us to stump up a chunk of that $90m, are you?
JW is correct
'TORONTO, ON, June 19, 2018 – Bunker Hill Mining Corp. (the “Company” or “Bunker”) (CSE:BNKR) is pleased to announce that it has entered into a loan and warrant agreement with an arms length investor for an unsecured convertible loan in the aggregate sum of US$1,500,000, bearing interest at 10% per annum, maturing in one year. Contemporaneously, the Company agreed to issue 2,294,835 share purchase warrants, entitling the lender to acquire 2,294,835 common shares of the Company, at a price of C$0.85 per share, for two years'
We haven't actually bought into a Lead/Zinc (and lets not forget silver) project (yet), we have simply issued a loan to them with the option to convert to equity.
The question I have is why, why invest in something like this at all and why Bunker Hill. There surely must be something underlying in the background here?
But at the minute it is what it is, an interest bearing loan which can be converted to equity, not a stake in Bunker Hill.
The thing that is concerning me more at the minute is the apparent short tempers of the BOD when questioned about these things.
Fair enough we have plans to transition to a mid tier gold (and hopefully not lead) miner and at that stage I would expect a certain degree of distance from the CEO to the PI's, and indeed if you contact the CEO of larger companies you normally get a very well worded response from a representative and not from the horses mouth, but we arent there yet.
We are still part owners of the company and the BOD have a responsibility to answer to us about their decisions.
'so what in your view is going to move the sp up in the meantime?'
As in before the LOM drill results? Good ole Price Of Gold is the only think that I can think of. The GDX Junior Gold Miners chart isn't anything that indicates that we are missing out on some amazing sentiment in the sector.
I think its just stuck in a rut.
There is much to argue in the bull and the bear case for HUM at the minute IMO, so I guess I'll just hold.
Yes I just looked at the trades Blackfish, and like you say, round numbers again.
A cynical person could think that the BOD might be being particularly obtuse so as to give us mere PI's no incentive to buy, or even an incentive to sell, to create some more liquidity.
But that sounds a little conspiracy theory like to me.
I will say this however, Mr Betts is coming across a little more stressed that he has previously!
But lets not let any of these musings take away from the fact that yesterdays numbers were pretty darned good eh?
Well, I'm not a great fan of the investment either but I'm trying to regain a little perspective.
On the downside like others here I'm not a big fan of lead as a commodity at the minute and I'm also not a big fan of mine re-starts as IMO they tend to take a long time to pay back their investments as the market seems to want even more proof of their viability than they do for new mines (although that said I am invested in a couple but in commodities that I am more bullish on)
However, on the positive side, the actual structuring of the deal is quite good for HUM IMO and its very little money down at the minute. In fact technically we are already 'up' on the 'investment' in the past month.
I'm trying to think of it more as a financial investment by the company rather than a departure into new territories.
Co-incidentally Bunker Hill mine used to produce a series of oz silver rounds in the early 80's (ltd mintage, fetch a good premium to spot at the minute).
'but I too wonder why HUM is interested in a lead-zinc project in Idaho'
Dunno, but heres some more info on the financing package, not sure if anyone else has posted, apologies if they have.
http://www.bunkerhillmining.com/news/index.php?content_id=65
Good scores on the doors today, definitely think POG is a drag, other miners are hardly flying are they?
From HUM Q2 production RNS
'As well as optimisation work being carried out at Dugbe the Company is also reviewing additional
capital investment programmes into Yanfolila that would potentially have the ability to increase
the plant’s capacity. These potential investments, in conjunction with the ongoing exploration
programme, could have significant benefits in transforming Yanfolila into a larger and longer life
mine. Further updates will be given once the cost-benefit analysis on these potential
programmes has been carried out.'
Increasing Yanfolia's capacity would surely also improve the potential to process any ore from nearby CORA tenements as well.
'I know you will have already read it but heres the link again anyway'
Subtle there Myosotis, very subtle
Recently bought back into BCN. Didn’t read the article yesterday but the issued a RNS this morning stating they were close to a funding deal so probably in response to that article.
Good update here this morning also, and also nice to see UUUU going great guns today, I know some here also hold that one.
Good day all round for me
Pffft
POG $2,500, AISC $1,000, 10 mines each producing 100k oz PA, FCF of $1.5bn, lets be generous and say £1bn, conservative P/FCF of 8 (which would be very conservative in a gold bull) = £8bn MCAP = SP approx £24,
This time next decade Rodders.
RAMP THAT Mother Hubbards!!
'Only tea and coffee no breakfast !!!!'
Seriously? No Biscuits?, C'mon, please tell me there are biscuits.
Suppose I better read the RNS, I'm on it like a car bonnet today!
'Why else would a uranium etf sell its holdings?'
If you are referring to Global X then its because they are re balancing their portfolio to include a greater percentage of nuclear power, they are reducing all their Uranium miners, developers and explorers.
Big drop - Is this attributable to the news posted here earlier? If so I would say this is due to low liquidity. The article that Playboy posted (which dosent translate well into English using Google!) was published 13 days ago, so if this drop is from PI's selling today after reading it (ala Deano) then its a little odd unless liquidity is low.
From what I can figure out the call is being led by elected members of Spain's 'Green Party' equivalent, although supported by the relevant ministry. I would probably substitute the word 'paralyze' to 'suspend' or 'place on hold' and whether Spain's government will actually take any notice of this, who knows, they have a pretty strange political system over there.
Some clearer comms from the company certainly wouldn't go amiss. I'm not 100% sure if we are in any a worse position than before regarding permitting but cash burn (already highlighted) will become an increasing problem the longer this rumbles on.
According to Google Translate that is....
'Congress today called on the government unanimously to paralyze the Berkeley company's project to build a uranium mine in the Salamanca town of Retortillo.
The Lower House has unanimously approved today a report on the activities of the Nuclear Safety Council (CSN) that includes numerous resolutions on nuclear energy and, among them, several related to the future of this mining facility.
In this sense, the report that has been approved by the Energy, Tourism and Digital Agenda Commission asks the Executive to provide all the information of the project to the Government of Portugal as an interested party, in view of the impact that the installation of this facility would entail.
Also requests the Executive to ensure the maintenance of environmental and health indicators in the area and has asked the Nuclear Safety Council to send, before the end of July, a detailed report on the current status of the evaluation of the request of the authorization to build the mine.
The project "Salamanca" that the company Barkeley launched for the extraction of uranium in Retortillo envisaged a global investment of 250 million euros, the creation of 450 direct and 2,000 indirect jobs and start production in 2019.EFE'
This was published on EFE (reputable news agency) on 13th June. Make of that what you will, but in hindsight and with the price action recently I'm obviously glad I reduced at .48
Still hold quite a few of these so I guess its decision time.
Not worried about the production figures (confident) POG can now feel free to set off again as I’ve bought my coins, actually I’m planning to order a load of silver tomorrow so Wednesday will be fine.
My bet would be Endeavour but a potential JV for Dugbe could be Avesoro as they are already established in Liberia.
"we are now no longer dependent on our shareholders for financial support!" Was the wording, just as it was the last 3 times it was misquoted on this BB. I think it's a bit of a stretch to interpret that as "we don't really need the shareholders"
Yup, could well go under 30p, then again might not. News on TORPS tomorrow and up she goes I expect. Who knows eh?