Member Info for BushyTailed

Corica have been mining just not to contracted volumes, so the plant can run the low grade and material that would not normally be prioritised but already mined.

Kor will still produce a fringe amount of gold for Q1 and probably in the region of around 5k ounces over the period

Correct, it's only corica who have suspended operations

Correct, it's only corica who have suspended operations

These are the legends at Corica (Guinea) who have hit every KPI and want their full entitlement.

https://www.linkedin.com/posts/mohamed-coumbassa-1267b068_une-meilleur-rencontre-avec-ma-team-corica-activity-7146783283954028544-6fP1?utm_source=share&utm_medium=member_android

Corica's first move into Guinea and they're essentially also holding the government to ransom too. They've also not yet seen a return on their new joint venture, as they try to raise it's international investment profile post the coup.

Corica also deal with regional banks and HUM's biggest partner is exactly that. Whichever way you cut the mustard here, Corica don't look good, you can't fail to deliver contracted services and then blackmail for payment, if they are being contractually withheld.

If they choose not to return then what chance do they actually think they'll have of getting paid?

Corica contract with Kouroussa Gold Mining Company, a joint venture company with the Guinean government, of which Hummingbird Resources (Guinea) are an 80% stake holder.

Similar set up at Yanfolila but HUM are the 90% stake holder there.

Corica and HUM don't contract at group level.

How are they targeting a near doubling of production in 2 years with 5mill net cash?

I haven't followed Searbi since the fraud and license issue. Remind me, what's production and AISC now

So you waited until they turned it around and bought after the recovery or you was in at 20p when they almost got suspended?

You're clearly choosing to ignore the basics or just don't understand what's going on. So I'm just going to leave it, enjoy Searbi mate and good luck.

Lol Searbi fell from circa £1.50 to 20p on fraudulent accounting and cash and gold thefts.

Jammin86

Posts: 584

Price: 5.60

No Opinion

RE: SPToday 14:03

"You give hummingbird too much undue credit. they extracted pretty much no value from yanfolila despite all the promise"

And the debt used to build Yanfolila is where?

No I was replying to playboys prediction of 2p. Which would be an mcap of circa 20 million, or half the current cash at hand.

Debt or no debt, if a company has twice as much cash as the company value then it could buy itself twice over. Obviously that isn't a normal market function

*this year's schedule...

This auto correct is really taking the p155

The debt is obviously something that can be considered but reducing this year's she use to 35 million or extending by 6 months would cover the mobilisation and commissioning of 4 fleets to replace Corica.

There's no doubt they'll have a lot of work transferring Corica workers over to HUM contracts but it can certainly be done and is not beyond the capacity of the company to fix this issue, with or without Coricas influence and contributions.

Which gold producers are you following instead of HUM that are apparently free of debt, lots of cash at hand and AISC positive?

By your own comments you haven't even run a rule of DCF over them yet?

Now you're talking bowl locks jammin. free cash flow and cash at hand is exactly what you should be looking at. It's that, that gives you an idea of how well a company can manage the debt and costs.

77 million scheduled over the next 9 months or 8.5 million a month...

Deadly serious Jammin, I can both read and count despite daily anecdotal evidence to the contrary....Count with me.

As of year end.

7 mill cash

6 mill gold

Since 19th of Jan.

23 million from placing

2 million spent on Dugbe

Yanfolila Q1 based on 18k at a 300 AISC margin is 5.5 million

Add it all up and what do you have?

A move back down the 4's which is possible, will see me adding again Playboy.

Hopefully some more tit for tat, to generate the volatility