Member Info for Billyboy2fromiii

Ricky,

Can you please confirm who gave you that reply. That is a different opinion to what was said at the AGM.

BB2

A d v f n

Morning Bushy,

I have questioned D on the other site as his understanding was different to mine. Please keep up. Better still actually go to the AGM yourself and ask your own questions.

BB2.

For anyone interested, Dickbrush on the other channel has posted a summary of the AGM.

BB2.

Swatton,

To be honest, sorry but I forget to ask that and did not make notes regarding this.

BB2.

Swatton,

You comments re Q3 and Q4 are very wise (in my personal opinion.

BB2

Hi Swatton,

Good to hear from you. Basically, KE is mined out. My understanding is that we will use ore from various pits for Q3/4 from SE/SW/Gonka. The KEUG is not ready yet and (I believe) this is targeted for (hopefully) later Q4 subject to no problems with accessing it (obviously it is underground so more challenging than OP).

You are correct (as per last meeting) that going forward Yan will be a smaller operation than previous. Obviously still (hopefully) profitable but certainly the future is largely about Kou.

BB2.

Bushy,

Just a few things.....

KE is mined out before end of Q2 so I believe your 28k is too ambitious and will not be achieved which will affect your projected Q2 cashflow.

HUM produce gold dore and as such your gold price may be ambitious.

The six month loan of $3.9 is due for repayment in Q2.

The combination of the above means that your 20m cash is too ambitious and will not be achieved.

Please rest assured that I am not being negative. I am merely being realistic (which in my opinion you are not).

Not long to wait. But it will be 3-4 weeks and not "a couple of weeks"....

BB2.

Bushy,

An absolute guess (which I do not like to do) would be in the region of 22k -24k which would then be a tiered step down from Q1 to Q3 (and Q4) of approx 17k to 18k to account for the lower grade ore from other areas such as SE, SW, Gonka. That would give approx 85k for Yan for 2023 which is mid guidance of 80k to 90k. The 22k to 24k would take account of the fact that KE is fully mined out during very late Q2 and I assume (and please bear in mind that I am not a mining engineer so it very much an assumption) that the KE grade will be lower at the back end of Q2 as the last remnants are mined from that area.

I stress that is an absolute guess but imo it is at least a realistic guess based upon a tiered step down from Q1 through to Q3/4 to meet guidance for 2023.

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Bushy,

Q2 will not be 28,000.............

For the benefit of others, please reign in your overly-hyped GUESSES. Your optimism is admirable. However, your wild GUESSES are misleading and people who listen to you are in danger of being disappointed.

HUMs future is exciting, but there is not need for your over exuberance.

BB2.

Ricky, lots discussed. Well worth attending. Obviously TH was never going to state the current cash position….

However, generally things are on track and let’s face it much more positive than 12 months ago. However, there are still risks that should not be ignored. Yan (political uncertainty esp re Wagner) and Kou (very early stages of ramp up and the risks that presents). Throw in the rainy season that we are just entering.

As a shareholder, I am cautiously optimistic but would like to get through Q3/4 without any problems. Medium to Long term very optimistic.

I just hope that shareholders are realistic and do not expect too much in the short term. Listening to and believing Bushy could very well lead to disappointment in 3/4 weeks which in turn leads to a lower share price.

Basically, be realistic with expectations and we should be rewarded. However, we may still need a little more patience.

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Vanvan,

Yes, I went to the AGM. All the Board were present (first time I have known that fir a good while). A short formal AGM meeting followed by about 45/50 mins to ask the Board questions. There were only three shareholders present, including myself.

I felt that DB and TH were very open and willing to answer any questions posed. They seemed very realistic with their answers. I am very happy to have attended and it has certainly franked up my own opinion of my short, medium and long term share price expectations.

However, Bushy appears to know more about HUM than both DB and TH so I will leave it for him to opinion his guesses (which I maintain imo are unrealistic).

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Miner.

Who said I was negative?

As stated, I am positive and hold close to 1 m shares.

I am merely questioning Bushy’s (admitted) guesses as to the current bank account balance.

As the last time I checked he was not the Finance Director (unless there is an announcement to that effect at today’s AGM).

BB2

Swatton,

Both 4 year loans had..

Principal deferral period of 18 months from the first draw down, payable quarterly there on.

Dec 21, full amount drawn down for the $70m.

2022, full amount drawn down for the $30m.

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Bushy,

I would be happy to forecast Q2 EBITDA of $17.5m (based upon similar production, costs, and gold price to Q1).

But trying to forecast a bank balance for 30th June is pure guesswork (and possibly very misleading to others) on your behalf....

You have no idea as to the actual first repayment date of the two 4 year loans of $70m and $30m. The actual first repayment date could be in Q2 but could equally be in Q3.....

You have no idea of the terms of the short term 1 year loan of $15m from Sept 22

You have no idea of the terms of the short term 6 month loan of $3.9m from Dec 22 which may need to be fully repaid before 30th June 23 from Q2 cashflow.

You have no idea of the terms of the short term 1 year loan of $9.5m from Dec 22.

You have no idea of the OPEX (as opposed to funded CAPEX for KOU) for the period to 30th June 23 when costs would be higher due to low initial production.

You have no idea of the amount of general admin/HO costs for Q2.

You have no idea of any payments due to Govt's of Mali & Guinea in Q2.

Basically Bushy, you have no idea .............. of the cash balance for 30th June. You have simply guessed a figure of $20m. Your guesswork is dangerous as others may be disappointed when if/when it comes in lower than that amount (which realistically may well be the case).

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Point proved !

Bushy,

What is embarrassing Bushy, is that you do not seem to be able to accept that someone may question you.

See you at the AGM tomorrow ?

BB2.

Sounds to me that Bushy does not like his thoughts and comments to be challenged.

Usually a warning….

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Q2 update…

“a couple of weeks” for Q2 Iodate…

In reality, it will be 3-4 weeks, approx 21st July.

Again, I prefer to be realistic.

BB2