Member Info for Cheerfuldoor

Impressed to see Cora as high as 19.95 today. Looks like their price (not market cap) could overtake our own in coming days. Whoever bought our 10% must be cracking the champagne.

Pasofino are hosting a webinar on 1st September and inviting Investor questions.

https://www.redcloudfs.com/rcwebinar-vein/

I’m with TwoGoals. It’s weird really, the company has been challenging to hold for a long time (coup, covid, weather, grade etc). Now when things appear to be improving ( AISC, exploration, Kouroussa imminent, even gold price up) there’s little enthusiasm.

Even BH put positive exploration results out today:

https://www.bunkerhillmining.com/news-and-media/news-releases/bunker-hill-announces-updated-drill-results-including-high-grade-silver-lead-vein-extensions-outside-current-resource

We need Hum to change the sentiment, which they have the potential to do, with the release of positive news. Cheer us up Dan

Thanks Bushy and Juxtapose, this makes a lot of sense. If I’ve read it right, we know Pasofino have invested almost $12m USD in Dugbe via Hum’s Liberian company thus far. Hum would have struggled to invest at this level so the JV strategy does seem to make sense

Can anyone help me understand what the Pasofino funding lines in the Cashflow statement mean? Have Hum been funding Pasofino some how? I’m not sure how to interpret - thanks!

Pasofino announce drilling results from 6 holes:

https://s26.q4cdn.com/952577408/files/doc_news/VEIN-Aug18.pdf

More nice looking exploration results out from Cora. Their rate of release is impressive, they look set to continue to close the market cap gap with Hum. Congrats to their team

I had a look for Kouroussa news online and found a company called Insuco which put a couple
of updates online about their work on the project:

https://www.insuco.com/en/?s=Kouroussa&lang=en

They’ve prepared a livelihood restoration plan and a social impact assessment. One of the articles mentions that Hum had two mining permits and that these have “reverted to prospecting permits but will be reinstated as mining permits subject to the government’s approval of an updated mining development plan”. Dan mentioned there were a few issues to work through so perhaps this was one of them, or perhaps the articles predate the mining grant RNS. Either way Hum and this company have been busy

Thanks Bushy. Good to see gold moving back up this week very nicely. Reassuring.

The thought was triggered by their investing in ARX which I know was quite different. I should add this was not something I’m worried about. I hold Cora myself and am enjoying the uplift, I bought even more Hum this morning

One thing I did wonder is whether our BOD were amongst the ‘high net worth’ individuals believed to have acquired Hum’s Cora stake

Checking the Hum share price and seeing its gentle upward appreciation the past couple of days has been a nice change. Some welcome news on the way perhaps. Interesting that yesterday’s exploration update was KE only. Perhaps there’s exciting news from the greenfield drilling, we’ve waited a long time to test Diaban…keeping fingers crossed for a Cora like quality update!

Quick thanks to Tones77777 and Bushy for earlier conversation on LOM, much appreciated

Hi Tones77777, firstly it’s good to see you back onboard here. I was not expressing my point of view on the life of mine, just highlighting what the company itself had to say on why the price is suppressed. For now, the company has expressed “confidence” that the LOM will increase. It should follow then that when confidence is converted to actual LOM extension then we should see significant share price uptick. Brokers used to talk of mine years LOM extension being worth 10p. Certainly, I’m banking on this and excited about the forthcoming drill results. What I don’t think is quite right is dividing resource by plant capacity to estimate LOM. However I’m no expert and looking to learn so if anyone has a perspective on this would be great to hear any rules of thumb used by others

I see our next door permit neighbour Indigo Exploration announced the start of their circa 5000m drill campaign last week. No wonder it’s taking time to get results back, everyone is digging holes in Mali.

https://www.google.co.uk/amp/s/finance.yahoo.com/amphtml/news/indigo-exploration-commences-drilling-multiple-131500467.html

Don’t disagree with the catalysts Bushy, but here is a statement on the impact of short mine life from Black Bess’ mouth as per CTW2014:

“To this extent, the company has also doubled its exploration budget at Yanfolila to $10-million in order to build on the 2020 drilling success.

The intention of this programme is to discover more ounces to extend the mine life at Yanfolila, as Hummingbird considers Yanfolila’s short mine life a “major hindrance” on its valuation.”

https://m.miningweekly.com/article/hummingbird-keeps-yanfolila-safely-operating-but-2020-production-decreased-2021-05-27/rep_id:3861

Maybe I’m wrong but I don’t think we’ve seen an update to the rolling 5-year mine plan since Feb 2020. This ran to 2024 with the note that this could be considered a base case given significant underground and open pit mine inventories not included in the plan. Wouldn’t it be great if the rolling 5 year plan could be upgraded to a rolling 10 year plan this year on the back of 2020 / 2021 drilling

I agree TwoGoals...however any new investor needs to (i) believe in gold and it getting stronger (ii) want leverage to gold in the form of a mining share (iii) be prepared to accept a (temporarily) high AISC here (iv) be prepared to accept the geopolitical and weather issues and risks associated with Mali (v) be comfy with Hum’s corporate governance (vi) be comfy investing is a relatively small cap company. This will screen out most investors, even those with a ‘high’ risk appetite! However, debt free is a big plus for which there’s been little credit in the price, the 2nd and third projects once underway will derisk, and above all cash in the bank will reassure. For now however it seems to be the hardy few invested here who continue topping up. The last director purchase was June last year so they have not been tempted by the lower share price yet...

I also topped up, yet again, telling myself these are ‘on sale’ so it’s a great time to buy (and average down in my case). Trouble is they keep getting cheaper...let’s hope they turn the corner soon. Thanks for the reassuring summary Panda1. I sometimes feel I know more about this company than my own! What I’m looking forward to are the drilling results. Hum are waiting on a significant number of assays and I think Murray said they liked what they saw in the chips so fingers crossed for for a blockbuster RNS!

More Cora drill results out today - what’s impressive is not only the results but their speed of turnaround.

We end the week short of Maqsood7’s “25p+ on Friday” prediction. The Yanfolila Q2 results will determine our price bar any left field news. The AISC cake is baked, all that awaits is the eating