Member Info for BPat890

Teo you’re reading the RNS wrong, Kouroussa Q2-2024 Ore MINED at 2.64 g/t while milled grade was 1.17 g/t owing to a low blend. This is why gold poured was 7,789 oz. Hummingbird is processing higher grades now, more than twice that of last quarter.

Bushy ...your results are astonishing , almost double the reality at the mine....you should be on charge of Humm ....the SP will be at least 30p by now....

**** - this is what i was referring to yesterday when i mentioned people are having a hard time envisioning the rate of growth at kouroussa.

the average mill grade last quarter was just 1.17g/t despite mined grade improving over the quarter to 2.64g/t - read the rns, they are now processing high grade through the mill. they have finished with the low blend. now coupled with almost two months of downtime courtesy of corica being away from their posts should help with your understanding why q3 is set to be much stronger than the last.

Goliath - very much appreciate the heads up, worth watching indeed. More informative than the presentation or updates on their own.

Kouroussa ramping up to 10,000 ounces per month by end of Q4 with an AISC of $1000/oz

Seeing just how quickly they have ramped up BCMs in July (rate is now more than double q2) with mined grade increasing towards the 4g/t reserve estimate you can see why some have a hard time envisioning the rate of growth now. Our Q2 mined grade average of 2.64g/t is being processed post quarter now Corica are back. Last quarters 7,789 was achieved with a mill grade of just 1.17g/t.

BCMs expected to be 2.4m (q2: 1.28m) and milled grade rising to at least 2.7g/t (q2: 1.17g/t) shows just how fast gold production will rise this quarter compared to the last!

They only need to defer a portion of the debt payments, that will mean higher repayment costs over the medium term but they don’t need finance that much is clear:

“We have also explored several non-equity financing options to strengthen the balance sheet without diluting shareholder value, ensuring additional resilience if needed.”

Non-dilutionary fund raise.. if needed..

“With gold prices high and production increasing at Kouroussa, Hummingbird is positioned to rapidly deleverage the balance sheet in the coming quarters. Our primary focus remains on delivering value to our shareholders through enhanced production and operational efficiency.”

Bushy - alas I fear reading comprehension is not a requirement for the average investor these days ;)

Shaml89 - the point Tony made concerning 50koz is for achieving lower end full year guidance.

Kouroussa production was roughly 13,500 ounces in H1 leaving 36,500 for the remaining six months to achieve lower end guidance. July run rate of 4,800 per month is expected to continue rising through the next 3 months as they achieve commercial production of circa 8,000 ounces per month.

‘Kouroussa: Reinstated guidance to 50,000 - 70,000 oz at an AISC below US$1,400 per oz, with refined guidance to be provided once operations reach commercial production.’

Bushy with the nonsense that’s been posted on here this past weekend by the likes of GoldInvestor7 and shaml89 I’m willing to give Tony the benefit of the doubt and hash these figures out with him.

Shaml89 just posted another corker below!

We have all been there Bushy, I’m sure he’s realised that was an error as soon as he posted

On point 9 - 4,800 ounces in July isn’t just expected to be maintained, the company are looking to build on this level through the current quarter and into the fourth. The company’s 50koz lower end target for Kouroussa as you say is almost certainly achievable and should be comfortably beaten. I would expect Kouroussa to outperform Yanfolila in terms of output in Q4 but we will have to wait and see.

Tony if you’re presenting what you say is just your opinion with calculations based on assumptions that may in fact turn out to be wrong, you probably shouldn’t have written ‘Facts’ as the heading. Not least what Bushy replied with regards to costs being deducted prior to tax due.

Yanfolila produced almost 17koz at AISC of US$1,616 in the first quarter and despite a blip in the second quarter was always forecast to run higher levels of production in the second half of the year. The bigger picture our non-holding weekend posters would rather not talk about is now Kouroussa and Yanfolila combined are producing a minimum of 27koz per quarter (4,800 ounces / month Kouroussa in July and taking Q2 Yanfolila results as base case). Production will likely be nearer to 30koz this quarter given the improving production forecasts at both mines, all while operating costs reduce and AISC expected to fall in line with estimates.

This is the bigger picture. The outstanding issue of loan repayments is due to be settled with a refinancing shortly to defer payments to a later settlement date, giving the company the necessary breathing room to continue with its operational turnaround.

You’re welcome to dwell on past performance if you want. Holders will be more encouraged by the 4,800 ounces poured at Kouroussa in July, which puts production at 60koz on an annual basis going forward. Production is still ramping up so expect the annual rate to continue rising this month and in September. I will concede that I’m expecting full nameplate capacity to be achieved in Q4 if that’s any comfort. Operationally speaking the ramp up should have happened sooner but then nobody could have foreseen Corica downing tools

If they are losing money how much have they lost in the past six weeks? I’d suggest looking at the reasons behind the Q2 figures before making false assumptions. Kouroussa wasn’t fully operational for most of the quarter when Corica went on strike and either side of this period production was lower than what is being reported for the first month of Q3 (1,200 ounces each week). The issues with Yangfolila while worse than anyone here expected were addressed which should bring production back in line. Of course nobody here is excusing the delays to bring Kouroussa to commercial production levels, rather pointing out it isn’t operationally loss making now as it was in Q1 and Q2, particularly with the added costs of third party contractors hired to take up the slack last quarter.

See page 25 of the annual report

https://www.hochschildmining.com/media/lxcn4q3n/final-ar2023_web.pdf

And I stand by my statement, check the balance sheet. There is $360 million in debt at the last count. The lower figure being quoted elsewhere is net of cash, however the fact remains the company are paying interest on the full $360 million. Whether it is prudent to pay a dividend at this time is an entirely subjective discussion. It could be done, it would just take longer to clear the debt while interest is accrued

Wheaton once again delivered strong results in the second quarter, generating $234 million in operating cash flow, resulting in record cash flows of over $450 million for the first half of the year. With year-to-date gold equivalent production of approximately 305,000 ounces, we are well on track to achieve our 2024 production guidance of 550,000 to 620,000 gold equivalent ounces," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals." In addition, we were ranked among the top 10 companies on Corporate Knights' annual list of the Best 50 Corporate Citizens in Canada and published our annual sustainability and climate change reports. Corporate Knights' recognition highlights our leadership in sustainability and commitment to creating value for all stakeholders. Our performance in the first half of 2024 supports our belief that the strength of our organic growth profile and high-quality, long-life portfolio, combined with favorable commodity price trends, firmly positions Wheaton as a premier choice for precious metals exposure."

Q2 revenue of $299 million and $234 million in operating cash flow, $122 million in net earnings and $150 million in adjusted net earnings.

A cash balance of $540 million, no debt, and an undrawn $2 billion revolving credit facility as at June 30, 2024.

· Attributable gold equivalent production ("GEOs") of 147koz Q22024. Total half year production was just shy of 306koz (up 13%).

· Forecast production guidance steady at 550k to 620k GEOs3. Due to rise to 800k GEOs3 by 2028 and over 850,000 GEOs3 in years 2029 to 2033.

· Blackwater, Goose, Platreef, Mineral Park and Marmato Lower Mine Projects all due to commence producing within next 16 months.

Are investors like shaml89 intentionally misrepresenting the situation or just don’t understand how financial reporting works?

Comments like “0.4 millions wont last them long” illustrate this.

The company reported $0.4 million held on 30th June, that date being the last day of the quarter. That was six weeks ago. If we are to believe the nonsense being spread by certain non-holders here concerning operational cashflow then Hummingbird would have run out of cash during the past six weeks.

The fear mongering here is for one purpose and that is to drive the price lower for a best possible entry. Where the vultures assemble there is a killing to be had.

Refinancing to defer loan repayments to be announced in the coming week or two and only a short wait until q3 results are announced with Kouroussa producing at least 1,200 ounces a week for a full quarter.

Ex-Dividend on August 21st

Persimmon: strong first half as completions rise

Persimmon’s half-year revenue rose 10.9% to £1.3bn. This was driven by a 4.6% uplift in new home completions to 4,445, and a 2.7% rise in average selling prices to £263,288.

Underlying operating profit was broadly flat at £152mn. This reflects the slightly lower margins on prior orders due to build-cost inflation and increased use of incentives.

Free cash flow improved from an outflow of £298mn to an outflow of £46mn. At the half-year mark, the net cash position stood at £350mn.

Persimmon has seen a “strong pick up in enquiries and visitors”, and the private order book has grown 28% to £1.1bn. Full-year completions are now expected to be at the top end of prior guidance, which points to around 10,500 new homes.

An interim dividend of 20p per share has been announced, in line with the prior year.

https://www.hl.co.uk/shares/share-research/persimmon-strong-first-half-as-completions-rise

Gold investor is new so I’m guessing that was for me Sotolo? I don’t remember giving any figures about net debt but it was almost a year ago now. Have looked through my posts but can’t see anything relating to this company. Are you able to provide the post in question (a date would be great) so I can read back what you claim I’ve said?