Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Exactly chique... HUM's claim against corica is non delivery of contracted tonnage., so the less Corica work the less they have to claim against HUM.
HUM need to sort out replacement fleet at the expense of Corica's exclusivity. The longer the negotiations, the longer it takes to court replacements.
You're right Jammin, we should just stop bothering mining the other 90k ounces a year at Yanfolila as it's not worth it anymore. Yanfolila alone literally produces almost 3 times what all of Searbi does, then there's kor which will be sorted by Tuesday (hopefully) then there's the 1 billion NPV at Dugbe all for less than the price of SRB's 30k
Too much here to pump and dump, this is the opposite... Dark pools are operating here.
Seriously though, don't put too many eggs on Coringa it'S been only 2 years away since 2020 and they've still not plugged the funding gap.
But it would make them more accountable Spacehoppa, IE nowhere to hide
Need to become an owner operator at both sites Spacehoppa... HUM have been nothing but D1ck3d around by fleet contractors for the last 3 years now.
Weakness starting to build in USD/JPY will be good for gold when it finally falls out of bed as it will start to make gold cheaper to buy in Japan.
*years....
Hate this phone
Approx 4 weeks and 5 million per fleet, so probably actually cheaper and quicker to jog them on. Let the 27 million claim playout in court will take year if the terms of engagement are governed by English Law and even longer if governed by Guinean law.
Sorry edit... Coris Investment group are the shareholder
Coris is only the lender, Coris Investment Bank is a shareholder who's rights sit pari-passu with all other ordinary shareholders.
Read and learn about things that might be important to you then that way you won't need to invent or listen to conspiracies to fill your knowledge gaps
It's not an ideal situation playboy but realistically I don't think there's much chance of that.
Default is a long way away and insolvency further still
Is a reversal coming?
Finger on the pulse Kadavul
Swatton it is interesting and I think it's an overlooked point too. It is entirely possible that HUM are positioning themselves to be come an owner operator.
Before the latest debacle at KOR I was dismissed by a lot of people here about the significance of HUM's more recent recruitment activity on linked in.
Silver/gold ratio currently at 87
All mining activity was halted for a full month because of the Conakry fuel explosion and as frustrating as this latest delay might be, I can 't see it dragging on for a month.
If the drill and blast engineer is on HUM's books rather than Corica's then the prep and blast work can still continue ahead of the main fleet returning to work.
60K ounces only are hedged to a max 2150, Yan low end guidance is 85k ounces at a top end AISC guidance of 1500.
Yani's costs are not diluted by Kor and vice versa, they're separate projects operating under sperate JV company structures.
So let's apply that 2150 hedge to the full 85k and that's still. 182 million then Kor gold sales as it's still producing and pouring gold from the marginal ore. It's only the actual of physical mining capacity which has been cut by 80% as a result of Corica walking off site.
Well 85K ounces at 2200 is 187 million a year.
More than enough to seek an extension of terms with no need for extra borrowing
With gold at these levels Yani is quite the back stop to the current problems.
Just got to hums twitter page jammin