Member Info for BPat890

@DavidBrent it’s difficult to take your word for anything on here being an anonymous troll who only posts to pick apart the positives and ‘white knight’ for the likes of Goldinvestor7 when their false statements are rightly picked apart.

I’ve seen how you criticised one fellow holders prediction the price would jump into double digits which it did do briefly last quarter but when it comes to “4p Friday placing” week after week or “equity worthless, admin nailed on” you are strangely quiet. Funny that.

Others can see through the carefully choreographed routine of “long suffering holder”.

Is it ramping if one highlights the fact net bank debt falling by $18 million to the lowest level in 12 months?

Or is it ramping to expect Kouroussa ramp up in Q3 achieved a 100% increase on Q2 of circa 15-16koz?

Will leave that up to you..

@Alibi - absolutely right, they have no business here except to drive the price low enough before buying and flipping on the next ride.

It was comical how many user IDs popped up last Friday.

$18 million reduction in net bank debt to $135 million last quarter, the lowest level in 12 months.

A further $10 million cash loan from Nioko due to be received shortly will bring net bank debt below $125 million when it’s received.

@Goldinvestor7 at this point keep digging 🤣

“The point punter and myself and many others are making is that there seems to be a huge problem with the deposit or it’s been mined wrong or the mill is not set up right.”

Is Goldinvestor7 now an expert in mine set up? 🤣

I get a mention every time from Goldinvestor7 Living rent free in a self proclaimed multi-ID-millionaire’s head 🤣

Spends everyday posting false information and nonsensical statements about a stock he isn’t invested in and thinks is going into admin.

Has already walked back his “massive losses nailed on” to “maybe breakeven” and clearly panicking about his Q3 prediction “Kouroussa did 10,000”

“Also it is completely unclear whether the Nioko loans to date have been used to repay Coris. You clearly think not, and the $20m is sitting in the company bank account, with the Coris repayment coming from cash flow.”

The update states they haven’t made the payment yet but the fact net bank debt has fallen by $18 million suggests they are sitting flush with cash, although not quite enough to cover the $30 million due to Coris this month.

The second tranche of the new Nioko loan worth $10 million is coming shortly and will increase our cash and gold reserves enough to facilitate this loan repayment to Coris.

The update mentioned they are renegotiating the wider schedule of repayments. That may affect a portion of the $30 million due to be repaid this month or it may be they extend the timeline of certain repayments due early next year to a later date, which they have done before. Mostly recently the $25 million refinancing.

*Lower still (one month into Q4 now) given group operations are turning positive cashflow.

@IwantThatOne - I haven’t forgotten, as you can see I’ve mentioned it quite a bit since Friday however this post you’re replying to is specifically about the net bank debt.

It’s a fact the net bank debt has reduced to the lowest level in 12 months - very much positive news that deserves to be highlighted given the concerns previously over rising bank debt.

The update states that at the end of Q3 they had reduced net bank debt by $18 million which will likely be comprised of the $10 million first tranche from Nioko received end of September and the cash proceeds from gold sales during the quarter.

The second tranche of the new $20 million loan has not yet been received as mentioned in the update and once receipt of that is confirmed our net bank debt reduces by another $10 million to around $125m based on those end of Q3 figures. Lower still given group operations are turning positive cashflow.

The combined $30 million loans that Nioko have provided once received are going to be converted to longer term gold linked loan notes, extending the repayment dates to 2025 and beyond and allowing the necessary time to build cashflow to levels that will facilitate ongoing loan repayments next year.

Overall net debt at the end of Q3 has not been officially confirmed at this point, only net bank debt of $135 million however I agree it’s probably around $155 million.

We need to wait and see how much the group operations made in Q3 and the additional group expenses. Given they will have had group expenses and total net debt didn’t rise much if at all it shows operations were profitable during Q3.

Confirmed in the latest update net bank debt has reduced to the lowest level in 12 months.

$123m Q2 2023

$123m Q3 2023

$140m Q4 2023

$139m Q1 2024

$154m Q2 2024

$135m Q3 2024

$18 million reduction in near term net bank debt due.

$10 million cash received end of Q3 from Nioko sitting on the balance sheet with a further $10 million cash injection coming shortly.

Nioko loans to be consolidated into a gold linked loan note and repayment extended beyond December.

Q4 production ramping up now we are in the dry season and Kouroussa nearing commercial production.

Looking forward to fully unlocking market price gold sales of $2,750 from Q2 2025 onwards as hedges come off.

Bismarck claims he has “better things to do” but has recently taken to posting nonsense statements here, in a style similar to another troll that frequents this board, late into the night.

All very strange behaviour for someone who doesn’t hold any interest..

Barely any posts over the year which indicates to me this isn’t your main account. Now given the sudden change of stance, repeating the same rhetoric as Goldinvestor7 after rising to the bait..

There can’t be so many pathetic roaches plaguing this chat forum posting late into the evening. What kind of sad people would pour so much time and effort into sharing misinformation and nonsense statements on a company chat forum they are not invested in?

Quick reminder, Bismark wrote last year on 30th November he thought the price of gold could drop to $1,300/oz within 3 years and what is even stranger made his investment case for allegedly holding Hum at the time based on $1,800/oz gold “anything better is a real bonus”.. but has since gotten cold feet with the gold price trading above $2,700/oz.

The most recent update suggests net bank debt reduced $18 million last quarter, during the rainy season, while hedges kept the average price received low at around $2,200/oz. This quarter there are fewer hedges spread across circa 40koz production so they will receive around $2,450/oz. The operating costs will reduce this quarter over Q3 thanks to higher output too.

Like I said before Bismarck your fear-mongering isn’t fooling anyone, especially now we know the debt is due to slide off.

@Forkhandles - (great username!) I completely agree.

Not sure what all this fuss is about today. No doubt our second largest holder wants an ear to the wall and steer the company towards the best strategy. Their main focus is in the financial interest of all shareholders as they benefit from any price lift, and boy have we seen the price shoot higher this year 😆

Encouraged by this little snippet at the end of the update - “We look forward to working with them as we continue our strategy of growing the Company in the Philippines as well as creating value through potentially expanding our asset portfolio elsewhere."

100p by end of next week at this rate.

Cash flow courtesy of $2,750/oz gold is rising faster than any analyst forecasts

I am going to take up mumbo jumbo classes to better understand what comes out of GoldInvestor7’s mouth:

“Course it’s dropped you muppet they lent 20 million off themselves (coris) to avoid things failing and a default.”

“they lent 20 million off themselves” 🤣

Just to repeat there was an $18 million reduction in Coris bank net debt last quarter to $135 million.

Nioko provided $10 million at the end of the quarter and t are due another $10 million from Nioko shortly.

Big cash lump sums on the balance sheet.

Of the $135 million remaining they are in discussions to defer payment of $30 million to a later date.

At the same time once we have received the final $10 million cash lump sum from Nioko they are expected to switch the total short term loan amount into a gold loan note, presumably pegged to the high gold prices of $2,750/oz.

The financial position was looking a lot more precarious earlier in the year. Now they are reducing net debt and pushing out loan payments freeing up cash flow constraints they would have had last quarter.

Receipt of $20 million cash from Nioko is yet another endorsement for the direction Hummingbird is heading in now.

Commercial production coming soon 😉

@Goldinvestor7 - who are you trying to kid lol, pulling numbers out of thin air.. At this point you’ve resorted to full blown lies and misinformation. Real classy millionaire behaviour. At this point we all know you’re a fraud. No millions unless you meant the number of IDs you post under?

Tell us again how “Koroso did 10000” in Q3?

I thought GI7 wasn’t rising to the bait? Clearly they can dish it out for months but can’t take it..

His words here, beware of the wolves in sheep’s clothing folks:

“they are in a kind of self admin”

“At least I admit I am gambling when I am”

“ posting 20 times a day and now spamming other boards with drivel deramping”

“Take the loss’s and move on before you lose the lot”

Are at their stations today I see.

Well if we are going to do this let’s open up the discussion to current losses and what options the board has besides raising cash at a discounted placing.

Do they have any available credit lines large enough to cover the cash depletion until they reach “cash neutrality”

It does seem precarious especially with the type of gamblers like Goldinvestor7 and their boiler room gang looking to flip.

Terrible track record, self proclaimed multi-ID-millionaire spamming misinformation. I guess pulling up facts is rather tiresome, certainly not as exciting but necessary to understand the full picture.

* Cash position flush with the positive cash flow generated last quarter plus at least $10 million following the receipt of the CIG loan at the end of September.

$153 million bank debt (Q2 results) down to just $135 million at end of Q3

$18 million reduction in bank debt owed to Coris

Cash position flush with the position cash flow generated last quarter plus at least $10 million following the receipt of the CIG loan at the end of September.

Net debt falling, loan repayment schedule extended, cashflow positive.

Okay for balance, the company missed guidance of around 38,000 ounces and likely only produced a mere 30,000 ounces. Group operation cash flow positive though 😆

@mimbrit if you’re spreading misinformation I’ll call you out and correct you on it.