Member Info for ChirpyCheep

Do you have a link to the podcast please ?

Oops sorry.
Another little one today.

Mine.
Buying back the ones I sold over the last year.
Will buy some more unless it races ahead.
Lots of negativity, understandably so, but seems cheap for a fully permitted revenue generating operation.

The point about shareholder alignment was mentioned at the AGM.
DB would disagree with you; how much money do people think he has.
He said he was "all in"
Personally I believe he is "all in"
FWIW I think people should have more empathy with the BODS; some of then have mortgages, wives , commitments etc and have enough eggs in the HUM basket by working for them and can't take the risk.

Agree.
That explains why we are where we are.
I suppose my view is that the asset value of HUM, in some form ,will come through.
Nothing stopping buyers with stacks of cash and proven track records looking at HUM

CNR profits.
I'm in both but can't see how they can be the same Mid Cap
Similar assets; one given up the ghost, the other just about to become a 200k year producer.

I didn't takes notes but it wasn't discussed in detail because discussions are ongoing.
The key point though it is WHOLLY recoverable.

DB was very positive about the equity raise because it brings in a strategic investor.
Now he would say that.
He did make what I thought was a valid point.
They are currently spending $20m dollars a month.
Considering that and inflation, VAT , YAN and cf how much it has cost to build a mine the equity raise wasn't that much.
Probably caused by the VAT issue alone ( an issue in both Mali and Guinea)

Perhaps I didn't express myself very well.
Yes they do need the cashflows from YAN.
What I was trying to say is that the efforts they have made have made YAN more predictable and stable eg better ore body etc.
Just seemed to me they do have an element of margin.
They can only make judgements on how things are now, not how they may turn out.
.....and YAN is performing as well as the last quarter.

With the proxy votes 4% voted against.
Guess that's pretty close to the total.

DB said that there is a lot of work streams coming to a head.
ie still a lot to go wrong.
He seemed to imply operational risks getting KOR ready was now a bigger risk than YAN

The way I saw it was that YAN is fine, no more or less than that.
However, DB said that they were not relying on a high POG to complete KOR on time and on budget.
I've thought like you but perhaps YAN is not as vital as we all believe.
He implied there would need to be serious issue s at YAN to affect KOR.

My questions are Ruffer still selling.
I guess they are still relying on YAN cashflows; therefore what POG do they need to ensure no more dilution.

........ and I've already voted yes.
Can't see many voting no, only those who bought at 30p and think if they vote no they'll be back at 30p.

I've booked my ticket.
It's a long trip from Cornwall but I've a lot in this basket.
Nice to catch up with others to share a Pale Ale if possible.

https://twitter.com/hashtag/CMET?src=hashtag_click&f=live - for WIW
After 38m
Not sure his opinion any more valid than the average punter frankly.

I bought a few yesterday early doors at 7.7p and the day before at 7.25p.
Yes YAN has been poor but is improving but I don't think DB has been given enough credit for KOR.
He gets blamed for everything even Hyperlinks missing, Ukraine, the price of veg, Climate Change
Re KOR have a look at CNR; they couldn't build a mine.
Have a look at SRB as Bushey says or even better CGAT.
SHG aint done great either
CGAT a great example of why HUM have done sone a great job of funding KOR
Strategically DB has got a lot right and if KOR comes online in June and on budget BINGO.

Agreed, it does seem a little bit odd.
Most on here have been criticising the BOD for selling the Family Silver for less than it's worth.
By your reckoning they should be applauded for selling it for more than it's worth.

I wouldn't regard it as dilution, as it immediately reduces debt.
I would regard it as dilution if assets are sold at a price LOWER than the market value.
How many people on here would pay 7.79p for an asset they can't sell for at least a year.
How much would you pay, 4p ?

Fun, have a look on ADVFN.
VEIN value is 100% of Dugbe
VEIN is worth CAS £38M ie £23.4M
HUM's share is worth £11.93M
Meaning KOR and YAN are valued at £17.59M between them
Seem good value to me.
Dugbee has , in the last week or so, risen from 0.39 to 0.74
Not sure the structure is that relevant as when VEIN acquired the whole project back in Nov it made diddly squat to the share price.