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Hum have done an outstanding job. The project was still moving forward through the short set back and is now ramping up to full production, whilst twin tracking negotiations with Corica mining along with excellent communication with shareholders.
I like the fact they mentioned the up and coming blast was on.
I noticed there were some huge buys last thing yesterday.
What would do if the share price hits 180 pence( its 2012 top) and then doubled from there?
The Gold and silver prices are going balistic
Gold and silver is going ballistic. This isn’t retail buying. There isn’t enough gold and silver to satisfy the demand form hedgefunds, institutions and central banks. The only other thing they can buy is gold mining companies, the big miners are a forward indicator and rise first. Second-Money gets thrown at small miners and their share price goes 10 x plus.
According to the RNS, mining activities continue with the supporting contractor (RNS). The up and coming blast is the big hurdle in terms of time. What stage is the blast at, who’s been in charge of the blast and does the blast have to be totally dismantled and reset by others if Corica set it up. That wasn’t explained in the RNS. Taking the main contractors side i would have set the blast up first, built myself leverage and then pulled the contract and hit them with that statement. Forcing HUM to come to the table and make a favourable decision. But thats only me.
Gold is rising unabated playing catch up to money printing and has along way to go. They say it’s going to outstrip all other asset classes this year. HUM is at the right place at the right time. Ready to rocket.
I’m not a fan of anybody who isn’t performing well, but don’t confuse that with doing business.
HUM have built a gold mine going into production at the start of a gold supercycle, where the gold price has no resistance points above it and HUM’s share price is rock bottom.
The main contractor/client contract will have an arbitration clause which is relatively inexpensive, quick, binding on both parties and cannot halt or hinder mining operations form here on in. At this stage most of the arguments will have already been documented and the main contractor won’t want a trail of legal battles that frighten off other existing and future customers, suppliers and financing. They are in a service industry after all.
Hi DavidBrent, Contractual failures follow a pre set path. The main contractor was failing last July (RNS), standard practise is protect your project. Bring in a second contractor to keep the project on schedule(RNS) and as a benchmark to investigate failings. The supporting contractor is asked “do you have the resources in place to take on the whole work” answer Yes (supporting contractors LinkedIn is shown as gearing up). A hiatus is required and pre action protacol followed. Hum says it will pay no more money to the main contractor, the main contractor pulls the contract (RNS). Hum has to ask main contractor back(RNS). Main contractor will refuse because there is nothing to gain (they know the contract is failing) then a deal can be done. After about two weeks the supporting contractors take over. The ramp up to full production starts. After another two weeks Hum will issue an RNS, thats about 7 to 10 days away now.
In the mean time gold will continue to climb until July (with small pull backs) , then falls back until January 2025 against a soaring Dollar.
The gold price is in vertical runaway. New contractors are about to be engaged. Ramp up to full capacity imminent. 5p is nowhere in sight next target 30p
I think the sensible thing to do for anyone with any doubts is to sell. The share price may go down further the longer this goes on.
Just thought I’d add a note. I think Gold is about to top out in the next two weeks and have a small retrace.
Yes i bought back in at 11.5 pence. My stop loss sold out at 9.5 pence when the bad news came in so i have no holding here.
I’m sure the situation will resolve itself eventually. 5 pence shouldn’t be a problem, the slow excruciating grind of getting nowhere eventually takes it toll and brings in the final sellers before good times return. I assume you are all out too as most people have a sensible stop loss in place.
HUM hasn’t hit the 5p Target to buy back in yet.
I’ve only seen this a couple of times before. Create a flash crash of seemingly irrefutably destructive news. Decimate the share price. Discredit management. Go in for the kill and pick yourself up a cheap mine.
I still think the share price is going to drop a lot further so I’m waiting to buy back in.
It’s all up to hummingbirds management to come out fighting it’s their only hope.
It’s terrible that the management is so terrible, but they do have an extremely good goldmine. If The share price goes down to 5p I’ll continue buying in. The gold price will rocket taking this Up to the 20 or 30p region
Banking collapse imminent. NYCB is on the edge others to follow like lemmings over a cliff. Gold to rise.
Threat to close the Strait of Hormuz, raised to critical. Oil price may go through the ceiling.
Gold now holds tier 1 status in all banking reserves as the bedrock of the new world banking system.
International banks are going through the final implementation of basel 3 endgame rules.
China has implemented along with other countries. US and UK banks are the last ones to submit to the new rules.