Member Info for BushyTailed

In addition to this, the numbers to start watching now are the cash costs and free cash flow for yanfolila. As we remember that Koroussa is in a different jurisdiction and will be developed and operated by a HUM subsidiary, therefore any financing costs being secured on the project, with the HUM 'group' acting as a guarantor if you will.

The FCF at Yani with zero debt will rocket over the next several months as the project is now free to just keep adding cash and gold for as long as we can dig it out for.

Two goals.

Q1 was expected to be to be lowest production and highest AISC of the year, additionally average POG for Q2 is unchanged from Q1. If we take them at their word then we can use last quarters figures as a rule of thumb, then chuck in an extra 4 million being the difference between outstanding debt of 4.6 million against Q1's debt repayment of 8.6 million

Ergo Q2 worst case fag packet guidance>

Gold poured = 22,781
Gold Sold = 22,019
Gold Inventory = 3,290 valued at 5.8 million Q1 4.4million
AISC = 1494
Revenue 39.3m
Cost of Production = 32.8m
EBITA - Other expenses 2.5m
EBIT - 4.5m

If we look at Q1 Net cash we can see from gold inventory that NET cash was only 500k, with the addition of Cora sale and the reduction of debt to zero Net cash for Q2 will be circa 10 million minimum. Reducing the debt to zero however will double these NET cash accruals on the basis of no future improvements in AISC, production or POG.

The more shareholders there are, the more people you need to convince to sell. If the Directors held the majority of the issuance then a takeover is a nice easy conversation and small holders like you and me, would just get swept out of the way.

"Clearly some funds are in the market adding to positions at this price level.
Hum are wide open to a 35p hostile bid given the paltry level of directors' holdings."

Yani is now operating on a circa 22% margin with no debt, equating to circa $40 million a year at current AISC/POG levels or an EPS of 3.8 and that's not even considering the company's fixed assets, Dugbe, Kor or BH.

One would only surmise a fair valuation if one believed that HUM's operational assets are all on lease with Yanfolila only having a 3.8 LOM and with no cash or gold at hand.

River and mercantile are out now, they sold and bought SRB according to their own statements. Golden Prospect posted the details and links a couple of weeks ago.

Until the BOD go

The shetland trials at Olympia are the best, so fun

The Paso Fino is a naturally gaited light horse breed dating back to horses imported to the Caribbean from Spain. Paso's are prized for their smooth, natural, four-beat, lateral ambling gait; they are used in many disciplines, from trail to dressage. Hence the name Paso Fino, or Smooth Step in English.

60p is circa 250 million mcap or a mere 12 times earnings.

Get the AISC under control and the margin of error is to the upside

Circa 60p is current fair value imo... Might not realise that anytime soon but then when are the markets ever fair?

I'm looking forward to the 25p dividends from 2025.. Receiving my capital back every year gratis is the real win

CEY are trading at a PE of 10.9 and imo crazy cheap.

IMHO HUM should be a 250m mcap just for yani

Economies of scale... for instance, if you got rid of the yanfolila plant and replaced it with a plant that had twice the capacity, you wouldn't automatically need twice the staff and energy to run it.

Great link... I liked Justin's comments. "The market needs to do some more research" Those who have have looked closely will have a very good price"

That's good enough Saga, found it right away, I'm off to bed now, will be difficult to masterbate to but I'll give it a try. :-P

https://www.**********.co.uk/media/60d5cd9e64b153175adbef1f/?context=/series/daily-podcast

Is there a link?

"From what he said today"

Have I missed something?

Q2 is always August, couldn't tell you why but it's the only one that doesn't follow the others.

I like your optimism maqsood but q2 update is not coming before first week of August. Not my opinion, just when q2 comes out that's all.

I wonder where we are on this chart?

Https://images.app.goo.gl/sGmD9shQTgfmQR3n9

I'll drop you a subscribe at least, good on ya. I love IT when hobbies and interests turn into a business for someone.

FUNK THE 9-5 AND PAYE LIFE