Member Info for Cheerfuldoor

More drill results from former holding Cora:

https://www.lse.co.uk/rns/CORA/further-high-grade-shallow-oxide-drill-results-jhpc50s1tbby2x2.html

And while I’m at it here’s an interview from end June with Bunker Hill CFO:

http://www.kereport.com/wp-content/uploads/2021-06-23-David-Weins-Bunker-Hill-Mines.mp3

Just watched the latest Crux interview with Pasofino, very interesting discussion:

https://youtu.be/c5Oh41jMXEY

I worked in FMCG for a time and seem to remember paying a % of sales in order to put some marks on pack. This was in addition to other fees audits and the costs of compliance. These marks became influential and valuable in their own right and not having them was a competitive disadvantage for big brands. If SMO reaches critical mass perhaps it too will become very valuable in its own right in addition to being a superb ESG initiative. Hats off to Dan for doing the right thing and potentially disrupting a commodity market . I think Hum even has a stake in SMO but could be wrong

Murray’s Sanioumale East exploration has put a spring in his step he said. This go me thinking...just big could SE be?

If I’ve got it right, 2020 drilling added 141.9k ounces making the JORC MRE 204k oz.

In 2021 we‘ve had:
3rd Feb: Assay results for holes drilled in Q4 with 10 results highlighted as “key”
30th Mar: was the MRE update which I think included the above. What caught my eye reading it again is this statement “SE deposit is located along a 3.0km shear zone... same structure that hosts KE & Gonka...totalling more than 1m ounces...drilling tested 1.5km...a further 1.5km remains untested
1st Apr - 7 notable drill results reported with mineralisation found in 11/12 holes
7th Jul - 7 notable drill results reported with the point made this is not infill but continuation of extensions

I’m beginning to wonder if SE might grow to a 1m+ deposit in its own right giving the 10 years of mine life Murray mentioned. Long way to go etc...and it’s further from the plant...but I’m starting to dream bigger based on SE results. If we were a pure exploration play; what would the market value SE at?

Nothing new in this post - just a restatement of what we know... It feels to me like Hum shares have been ‘on sale’ since around Feb 21. They seem relegated to a dusty corner of the market with ‘further reductions’ labels stuck with few takers. Well apart from a few stoic types on this board! I even started wondering when our market cap will be overtaken by related companies Cora (an impressive 30m now) or BH or even Pasofino. Management meanwhile tell a very different story - growth: debt free (confirmed), LOM extension potential (evidenced), shiny new high grade development project (acquired), really big district scale project (progressing at no cash cost to Hum). The catalyst then we need for re rate seems to be Yan AISC. I am reassured by the number of times management talk this exact point. My amateur psychology says they are confident in Q2 otherwise one would downplay until H2. Fingers crossed the banked Q2 numbers are decent. Meanwhile I need to decide whether to buy even more at these prices...

The video is with Vox I guess you may need to google it as link details get blocked

Here’s a great interview with Murray. Super to see the whole team involved in updating us shareholders in 2021. Much appreciated!

https://www.**********.co.uk/articles/hummingbird-john-meyer-8af4983/

I had a look at the pretty pictures on the LSE website and counted 60+ holes drilled and waiting on assay results. Much more news flow to come. There was no update on greenfield target drilling...wonder what’s happening there

I’m hopeful for a better Q2. We were told to expect:

(i) incremental improvement in grade
(ii) it’s our new COO’s first full quarter (although needs to be given time)
(iii) it’s our new mining contractors first full quarter (Junction Mining) and we were told mining volumes were already improving in Q1 vs previous contractor AMS
(iv) I think we were told the TSF dam lift was complete in Q1 but could be wrong, anyway hoping the H1 extra costs were themselves weighted to Q1

So I see your minimum 10m net cash BT and raise you 2m to 12m! That’s my best guess anyway

A little off topic but I decided to look at the permits surrounding Yanfolila. In addition to Cora I found another company busy in our neighbourhood in 2021.

Indigo exploration did a deal with Desert Gold to acquire a stake in the Djimbala permit. This lies immediately to east of Yanfolila’s Komana deposit. It looks like they were required to spend 400-600k on exploration plus issue some shares. Something like that.

In March 2021 Indigo announced results from auger drilling which identified multiple 1-2km long gold trends. Their next step is air core drilling which they plan to do this season. Looking at Indigo’s map the deposit distance is circa 15km to the Yan mine. This could be in truckable distance.

Perhaps there is a future deal be done that helps further extend the Yan mine life by the team that doesn’t let the grass grow under their feet. I guess we need to see what our own permit has to offer this year before casting around for more however.

Thanks Sagacity, I watched the videos, took a look at the gold price and hoovered up a few more. Something I paid attention to was the comments about exploration drilling. Dan said they are “getting positive results there” and that across all three projects drill rigs are turning and “hitting positive intersections”. If Yanfolila mine life can be extended then this will be brilliant news for holders. I’m hoping for a separate Exploration update RNS ahead of Q2 results.

I am declaring myself a Dan Fan & believer in the Kouroussa project!

I also found an invitation to shareholders to submit questions in the circular, this passed me by too:

Please note that as shareholders will not be able to attend this year’s AGM the Company is proposing to allow shareholders the opportunity to raise any questions or concerns arising from the business proposed to be conducted at the meeting. Please submit your questions to the Company in advance, and by 2:00pm BST on 18 June 2021, by emailing Kat Perez at kperez@**********.co.uk. Questions received by verified shareholders within the time prescribed will be addressed in a Vox Markets Q&A podcast, which will be made available on the Company’s website following the AGM.

Was not aware Kadavul - but found details of the motions passed after hunting around on their website:

All following resolutions proposed at the Annual General Meeting were duly passed on 21st June 2021:

Ordinary Resolution 1: To receive the FYE2020 Annual Report
Ordinary Resolution 2: To re-appoint Adriaan Roux as a director of the Company
Ordinary Resolution 3: To re-appoint Ernest Nutter as a director of the Company
Ordinary Resolution 4: To re-appoint Daniel Betts as a director of the Company
Ordinary Resolution 5: To re-appoint Thomas Hill as a director of the Company
Ordinary Resolution 6: Re-appointment of RSM UK LLP as auditor
Ordinary Resolution 7: To authorize directors to agree and fix auditors’ remuneration
Ordinary Resolution 8: Grant of authority to the Directors to allot Ordinary Shares
Special Resolution 9: Disapplication of statutory pre-emption rights on allotment of shares
Special Resolution 10: Authority to purchase own shares

Whilst we wait for news, here’s a video showing the ride out of the Bunker Hill mine for anyone interested that kind of thing!

https://youtu.be/Iio7utXMdi4

I’m pretty surprised at the Cora sale timing - but then I know nothing. Cora are in the middle of a major drilling campaign. Results have been great. Why not wait to see all the results and sell with the value added? The cash amount raised appears relatively trivial.

Thanks for highlighting - Cora’s campaign continues to impress.

I think I saw they announced a fund raise last week and if I read it right Hum chose not to participate again.

I was mulling over that June last year saw the Dugbe and surprise Kouroussa deal announced along with some Yan exploration results. Will the ‘they don’t let the grass grow under their feet’ management team have anything to share this June or is there perhaps enough to be getting on with.

I’d say a further update on the significant drilling programme is due

Crux investors plan to interview Pasofino this week and have asked for questions on a Canadian bulletin board. The recent financing round seems to be one topic of concern for existing holders in Pasofino

Pasifino latest drill results are out:

Ian Stalker, CEO, commented; “The continuity of the Dugbe F mineralization continues to deliver with 95% of the infill holes within the deposit footprint intersecting mineralization. All were drilled into the existing Inferred MRE which suggests that we may achieve a strong conversion. Meanwhile, we have drilled 12 exploration and resource holes at the 2 Moz (Indicated MRE) Tuzon deposit, the first of which we anticipate will be reported within days”.

https://static1.squarespace.com/static/5898d2fdd1758e28995d7453/t/60b4d1af89ebd73ad3f9a396/1622462987782/Vein-May31.pdf