Member Info for Bismarck

"A 20 bagger all day long …"

Please name the other junior miners that you've invested in For2itus

With my atrocious record I need some tips, or a laugh!

"A simple hitting nameplate RNS will see this jump 15-20%, no problem !"

A simple hitting 200 KOZ will see this jump 300-400 % no problem

Jam tomorrow, honest....I'm still waiting Mr Betts

When we get to Q3-24 what's the betting that they'll then say commercial production has slipped again and will be Q4-24 or Q1-25?

Where's all the high grade ore that was just one blast away so many months ago?

"The political class in nigeria are fully corrupt and only care about themselves."

Not only in Nigeria. https://www.bbc.co.uk/news/uk-politics-64029040

That's an interesting point. However over the past 5 years the naira has lost 80% of its value when measured against GBP.

Even with a 25% interest rate, if I were a Nigerian I might be inclined to hold Seplat shares instead of cash in a savings account as a hedge against further currency devaluation.

Curiously it closed yesterday at 3370 NGN which is £1.69 at the official exchange rate

My own target for profit taking is to sell half once SP reaches £2.60 as this is double my average, so I'll have all my remaining shares for free. I see no reason why the SP should not climb higher than this once the deal is actually done and for that reason I propose to keep hold of 50% indefinitely, assuming a ~10% divi

Jim

I don't think Skier even reads anyone else's posts, he just does his ramping thing.

Funny, I checked out some of his posts on other LSE share boards and it seems he can do very mild de-ramping too!

"LLOY looks fairly valued right now, at 7 x PE, broadly in line with the global bank average. Dont forget the car-loan DCA scandal is just a few months away from a ruling by the FCA, with costs potentially soaring into the billions. And Labour are shaping up for a whole new world of envy politics in 2025, such as a bank windfall tax, extra pension tax, and extra landlord tax. There's plenty of reason to be cautious."

With a well covered 25p net divi this share is surely going to reach £2.50+ at that point, a 50% rise from here.

An easy 2 bagger for me at my average, more so after taking account of the divis along the way

I was excited to see there was a new RNS this morning, then quickly disappointed when I saw it was about currency exchange rate

"If they manage 200k oz then it's north of 60p"

At the current SP of 7p this implies that the market considers they have a 1 in 8 or 1 in 9 chance of getting there.

My holding and recent share sales, while significant to me are not large enough to be holding the price down. I'm sure there are much larger sellers than me. I've gradually reduced from 1.6M to 700K over a few months. One week I might sell 100K, then nothing for a couple of weeks.

I just don't see much upside here anytime soon. Most of what I've sold has been re-invested in SEPL in anticipation of completion of the MPNU deal, and the healthy divis that it already pays.

I have a significant holding but have been reducing. I don't think there is much that can lift this share, short of strapping it to one of Elon Musk's Falcon Heavy rockets.

Investor relations are none existent.

Those expecting capital appreciation may not have realistic expectations. The best we can hope for may be a divi?

It's hard to see that Corica would sign a contract that could allow HUM to withhold 100% of payment because agreed volumes were not achieved. What if they achieve 97% of contracted volume but get paid nothing?

Surely any payment withheld must be proportional to the shortfall?

You don't make a deal with a builder to build 1 house per month for the next 24 months then pay him nothing because he's only managing to finish 1 house every 6 weeks? There may be something in the contract whereby you can claim damages based on non receipt of the rent that you missed out on because the houses were late, but that would need to be a reasonable and justifiable amount.

This $27m figure is a huge amount. I've no idea what the mining contract with Corica is worth or how much they have already paid them. This smells very fishy to me. I don't think we know half the story.

Corica are also asking for a deed of company guarantee

From Google - "A Deed of Guarantee & Indemnity can be useful for you in a number of situations. For example, you may look at getting one if you are lending money to a company and wish to ask the director to personally guarantee that they will cover the loan if their company is unable to at the date of repayment."

Who on Hum's BOD would -

1. Have that kind of money?

2. Be prepared to bail out Hum with it if needed?

Trying again to defeat the boards software bug...

skier,

A couple of years of gas averaging ~$4 will see the divi restored and DEC SP back up to the £20-£24 (corrected) levels it enjoyed previously.

Sour grapes for the likes of me and notrex at the moment. We both had the chance to exit when SP was £1.20 IMO the problem is not the company but the commodity price. In the short term I've made a bad call. In the long term I'm still confident I'll do OK.

Skier,

A couple of years of gas averaging ~$4 will see the divi restored and DEC SP back up to the £20-£24 (corrected) levels it enjoyed previously.

Sour grapes for the likes of me and notrex at the moment. We both had the chance to exit when SP was

I was not expecting a 67% cut. I was only expecting 50%.

I'm actually pleased they finally bit the bullet and did the right thing for the company and its shareholders in the long term.

I am invested BTW, this divi cut will cost me ~£28K/year in income, in the short term.

Most of us here know that FY24 will be a more difficult year for DEC than FY23 so why all the winging about the inevitable divi cut? Anyone who's surprised in living in a parallel reality.

Https://theoakbloke.substack.com/p/dec-king-the-opposition