Member Info for fsjamescampbell

Just thought i would summarise and add some colour to the journey so far from first gold pour to our struggling sp at current levels........its from a post i popped on ADFVN, thought it might help others to recap the journey since first gold pour.

mid Dec 2017 first gold pour (on time and on budget)

Q1 2018 - Successful ramp up phase.

Q2 2019 - smashed 33koz and sold 38.7koz generating $50m in revenue with 38.7koz at AISC $790/oz

Q3 2019 - BH debacle (sentiment affected) worst rainy season for over 10 years production down to 22.2koz and AISC up to $1006/oz

Q4 2019 - Impact from pit wall and bridge reduced ore mined and thus increased AISC and lowered production hurting cash and prompting a loan facility of $9.5m to be drawn down. 18koz produced at $1677/oz.

Q1 - 24koz poured at AISC of $1300 (close to break even on POG) Pit wall remediation overspill into Q1 impacting AISC and lower production by approx 7koz due to artisanal mining going deeper than anticipated from DFS ultimately impacting on Q1 production. $13m cash in bank and debt reduced from $61m to $56m

Reading through that and hoping that Q2 2019 is similar or close to last year and the new ball mill being close to commissioning, hopefully AISC gets close to $950 - $1000/ oz then you can see some recovery coming back.

We then have Q3 rainy season to contend with and anything around the 24 - 27koz area with AISC around $900 should keep the ship steady.

All the rest is a matter of patience and fingers crossed that the mine and processing plant can run smoothly.

To add to the above we should be expecting an increase of maybe 3 - 5 years on LOM announced end of may / early June.

At 15p this is looking attractive, sentiment needs to be smoothed over but for new investors this could look, on paper, a pretty good investment at 15p lets face it Sustainable Capital Africa have nearly 40m shares, they think it is value at this level! The Capital Group (seller) has only sold its 12% because they are exiting all AIM small cap stocks due to a change in top brass and new investing strategy.

My thoughts are that if they can emulate Q2 2019 on a regular basis the company looks very strong indeed!

good luck dhub!

HUM - "mistake after mistake" They spent $2m on BH which equates to approx 1 gold pour or around 1500oz its not exactly a problem in the grand scheme of things! They saw something which looked very lucrative and turned out to be hogwash......such is life but it was an isolated incident. The other "mistake" could be the 1p options but that is a management decision; nevertheless a sore point for investors they are a company that needs to incentivise their staff with targets.

Apart from that, there haven't been any more mistakes at HUM! Q2 2018 saw them pour 33koz and generate $43m....i expect that they will be close to that number again in Q2 2019 which we will know about towards mid - end July 2019.......

shooting in May 2018 was government guard and not HUM mistake and then the pit wall and bridge issue and low production during Q3 2018 was due to very heavy out of the norm rainy season, then finally Q1 2019 was fraught with deeper than expected artisanal mining which extended much further under ground that the DFS anticipated.......

I do wish folk who post on these BB's did so with correct facts rather than their own fiction :( :( :(

I and others (wh bother to keep up) mentioned this the other day....Capital have been selling off ALL AIM small cap shares due to change in top brass and investing strategy etc etc............good luck to them but this selling has been offset by the recent new ii buying so even stevens!

CD - They are out now and that means we can build from here! Read the TR1 again before you post complete misunderstood ramblings!

Marty - The recent raise probably marked the absolute bottom so its probably up and up from here because the funds raised and shares issued went to extremely sticky hands, which will mean that the free float before and after the raise and issue of shares remains the same, the rise will be as gradual as the drop.....the drop obviously came from the classic AIM leak and the city knowing well in advance of a placing coming.....at 4.15p to buy CORA is a hell of a golden opportunity....here is an extract from the placing RNC which explains where the shares went.....

"Binding commitments to subscribe (the "Subscription") for a total of 32,467,445 new ordinary shares in the Company (the "Subscription Shares") at the Issue Price have been received from, Lord Farmer (a substantial shareholder in the Company), Jonathan Forster (Chief Executive Officer of the Company), Robert Monro (Non-Executive Director of the Company) plus an entity connected with Paul Quirk (a Non-Executive Director), and other subscribers.

Binding commitments to acquire 2,597,400 new ordinary shares in the Company at the Issue Price ("Placing Shares") have been obtained from other investors.

myself and a few other PI's make up the "other" investors in the placing and from my stand point they are not getting sold until they are worth at least 7 - 10x what they are now which given the 4m MCAP and the potential 1 - 1.5m oz or so that is in the ground a 30 - 40m MCAP would not seem out of place!

A very good reason to invest as the chances of it going much lower than current sp given the recent drop is slim indeed!

They are plain old robbing gits.........its all designed to spook the PI's! Especially the weak rainbow chasers! Nice 100k buy!

Capital have been selling small cap AIM shares due to change in top brass and risk and so on (read an article early April and someone also posted this on ADVFN or somewhere like that) maybe it is them out now, according to morning star they have reduced their holding this year........If they are out now it will at least mark the bottom.....hopefully LOM news in 2 or 3 weeks will then see us recover a few pence.......we can only hope!

Nothing more than the usual.......although this big trade came out of the blue?

Very interesting that isn't it Blackfisk21.............could be end of seller or new ii or as you say the workings of a takeover?

TBTT it is great news however you look at it. Without the MDA it is a huge burden but with the agreement in place it opens a huge door to partner with a major, it is too big for HUM but this is a very sought after licence in Liberia and puts them firmly on the map, with HUM controlling this we are likely to see a strong JV or sale of asset that could boost the finances and bring HUM forward in leaps. Before the MDA was signed and agreed it was a huge headache, now it is a huge asset with many varying avenues for upside to HUM!

January, it is their country and their gold at the end of the day, the upside value is worth a lot more to HUM and of course shareholders!

TBTT it is excellent news as it gives HUM a recognised solid asset, puts them in favour with Liberian government which has new younger faces and gives HUM the opportunity to JV with a bigger fish........you know only too well how good this MDA is for HUM!

Nope.....i think last year was a one off experience........... :(

Sounds very positive GB!

True sands........but not to be sniffed at nevertheless! They are a very respected financial institution, albeit in the HUM corner, but they will have had a man in the trenches at Yanfo in March as HUM host the annual site visit.

Anyway......what we really need is LOM extension news to really start the ball rolling! I also reckon that sustainable will continue to accumulate to around the 8% mark.

sands...it is the AIM mentality sadly, PI = fickle.....II = patient!

Sustainable have increased by nearly 7m shares in the last 7 - 10 days with a total holding of just under 23m shares.

Very encouraging given the recent drop as a result of the recent Q1 update, it just means more shares are going in to the hands of more patient investors and less in the hands of fickle PI's.......has been the case for some time now with HUM.

Free float will tighten and those who manage to hold or increase during such times should benefit when sentiment returns and HUM claws out of this poor performance cycle. Recent broker note by CANA values HUM at 47p, thats not to be sniffed at and it could take quite a few production Q's to get there, but HUM does have the potential and the skills to get there, incident free and some solid performances over the next few Q's are now essential!

Boring boring boring Perry winkle......just topped up further today with another 65,806 shares that should pop up on the trades list.......

Perry what the hell is your obsession with my portfolio activity! I have been winding Borderterrier up on ADVFN for months, i flippantly said that i had sold before yesterdays drop to further wind the plum up. Let me spell it out to you....I am loooong and strooong in HUM!

Give it a rest it is extremely boring!

Perry i have HUM tattooed on my arm.......loooong and strooooong!

We just need to chill out, we all know where this is going "EVENTUALLY" let's see if HUM can smooth over the problems from Q1 and get operations back on track. We still have the tough rainy season to come around end of may / early June to October 2018, that, again, will be another real test for HUM.

Sadly, we are a million miles away from "$70m free cash in the first full year of production" HUM simply haven't managed to iron out the issues that have haunted them over the last 12 months starting with the shooting, then rainy season, pit wall and bridge, the options that folk are not too happy about also haven't stimulated sentiment in a positive manner. I believe they need 2 good solid Q's with solid AISC and high production rates and the shackles may begin to creak under the pressure of much needed forward momentum. For me this always was a long term investment so the noise at the beginning, while frustrating, is probably going to give HUM much needed valuable experience. To think the chatter 12 months ago was of maiden dividends and share buy backs....wow, what a change in 12 months!