Member Info for fsjamescampbell

snapperz - this is the extract from the recent RNS that explains the BH "Arms length" investment. It is a loan too so not a final spend at this stage! Let them do their DD and see what they find............it only needs to be that simple at this stage?

Additionally, the Company has made a US$1.5m arm's-length investment (which may be increased to US$2m), in the form of an interest bearing convertible loan, to Bunker Hill Mining Corp. ('Bunker Hill'), a Canadian listed exploration and development Company. Bunker Hill is committed to re-starting the fully permitted Bunker Hill mine, in Idaho, USA, with historic SEC compliant Reserves and Resources of 9.1M Tonnes of Zinc @ 5.08% and Lead @ 2.35%. The Company is currently conducting ongoing due diligence on the asset.

earthling - i agree mate. Bunker Hill is an unknown, it has to be at the moment because of the material nature of the potential deal. I am happy to let Dan Betts do his due diligence and then report to shareholders his findings, reasoning and recommendations etc. If it turns out to be lucrative for HUM and shareholders then that is why we are invested....to make money! They can diversify to banana growing if they begin to produce £38m a quarter in revenue!

I have always stated, let them do the DD and then report their findings, if there is an opportunity to create high value then let's hear it :) - Far to early to make assumptions around BH at the moment, in the BOD we must trust!

Full account of call and my summary here.......

https://drive.google.com/file/d/1d6X6E82_1t3s3s7hbEHG0ELibcq24Omz/view?usp=sharing

Morning folks,

i have too been rocked to the core this week and decided to remain patient and strong and even add on the lows, i have been here before many times with investments and its very tough to hold on and even add but it has proven to be a very profitable tactic when you are invested in a fundamentally very strong company.

I think the recent displeasure at our CEO Dan Betts has been a little too harsh. Yes the recent CC didn't help and the answer about him buying stock didn't bode well with the private investors but all in all he has steered this ship in the absolute true north direction over the years and none more so than the last 18 months in securing funding, actively being part of the fund raise, managing and delivering the mine, plant and gold pour all on time and within a shrewd budget. Personally this is the sort of track record that i am keeping focused on about Dan and of course his team.

So what is actually at play here, the biggest factor is FEAR, reading opinions on here and then putting 2 + 2 together and making 5. To me it is simple......

1. Have the fundamentals changed for the worse? NO!

2. Are we struggling to make cash now we are fully operational? ABSOLUTELY NO!

3. Is the use of free cash being squandered or misused? NO BUT SOME ASSUMPTIONS ON RECENT "ARMS LENGTH" INVESTMENT HAS MUDDIED THE WATERS! MY VIEW IS SIMPLE, WE DON'T YET HAVE FULL DD FACTS ON BUNKER HILL TO BE FEARFUL AND IF HUM ARE PURSUING A DEAL THAT HAS POTENTIAL TO BRING PROFIT TO US AS SHAREHOLDERS THEN I AM UP FOR THAT, AS LONG AS THE RISKS ARE MANAGEABLE, AS SUCH, I AM HAPPY TO WAIT FOR AN UPDATE ON BUNKER HILL TO MAKE MY MIND UP, I DON'T SEE HOW IT CAN BE ANY OTHER WAY AT THE MOMENT!

4. Do we believe that HUM will deliver shareholder value? ABSOLUTELY YES!

Finally, i though i would try and get a response from the company so i managed to catch Bert on the phone. He is adamant that operationally absolutely nothing has changed, to me that suggests that we made our July quota of say 11koz to continue on track with projections.

They are very happy that M&G have been actively buying in and mopping up shares in the last couple of months and they now hold just under 3% with approx 10.1m shares. M&G are a strong entity to have on the share register and he mentioned the significance of this. Of course M&G was reported in "Morning Star" the other day so this is not new news.

Dan had the recent interview with Mining Journal and by the tone of the conversation i have a feeling that he will be doing other interviews shortly, hopefully we will see or hear them in the next few weeks.

I asked about any ii's selling and the impression i got was current ii's are holding strong and relaxed about gold price being soft at the moment and so on.

I wonder if we are in a transition from longer term retail holders to new retail holders. It is one hell of an opportunity to buy in at 26.2p, i am sure the dust will settle and we will see a new r

Brilliant info that Buzz!!!!

Thanks!

https://drive.google.com/file/d/1dPhv-fdmCBy0j9WURjnS2BQNUdK2vkNt/view?usp=sharing

I'm all in and bought more today.............happy happy happy to pick up cheap shares! My strategy is to keep focused on the stonking fundamentals like $50m gold sold during Q2 and current LOM extension well underway. II's clearly buying in on weak retail selling and knowing how the market slaps your ass when you are down! We could see 25p.................great, i will have another 20k shares please! We will however see much higher sp movements from here in the coming months...........LONG & STRONG!!!!!

M&G really do strengthen the register too.....very significant having them on board!

Continued..........

5 – Financial forecast, I would say that so far the financial forecast has been spot on! Again through the construction and commissioning phase they brought in the project under budget and then very quickly became a cash positive entity. We have reported net debt of $15m and a very strong chance that by the end of Q3 net debt being balanced at zero. We have financial forecast on the next critical element, extending LOM, they have predicted an amount to use no more than 15% FCF to achieve this. We know they are seeking additional assets and they have a 34% holding in CORA. We are on the verge of a legal decision to enable share buy backs to be factored in and so on. Again, we are literally over the line for the first ever Q of full production, lets be patient and wait to see what HUM are planning with the cash that is being generated. We all know that they are actively seeking additional ventures and assets, but until something more concrete materialises we have to trust that HUM will find the right deals and generate the right forward thinking plan on cash spend to maximise the sustainability, growth and future of the company and the value to shareholders. We are at the beginning of this journey so we need to again be patient.

The simple facts are that HUM have delivered on all accounts so far, they are in a transition phase, which is understandable but they are in this phase standing from a very strong financial position, no financial weakness at all, real strength and potential for growth! This is the most valuable asset that HUM has at the moment, they have delivered, they are evolving and they will continue to eke out value for shareholders. The market will catch on and we will become a more and more attractive investment, I am glad im in a stock that is not going to shoot up 30% on speculation or potential that then invites the traders to come in and move and jostle with sentiment to be able to gain from sp rises and then to gain from shorting the spike. We are a growth company and the sp will align with milestone after milestone, if you can wait and be patient you will be massively rewarded, if you cant and you want it all now then I don’t think HUM will deliver an instant overnight profit in sp movements. Steady patient growth could be our pattern with occasional flurry’s and interesting gains.

Continued.............

4 – Communications, the only element that can be challenged here is the recent incident. When this was all done and dusted and activities settled we should have been officially informed. I do understand HUM’s reasons though to keep it as quiet as possible and to let the dust settle naturally. This is how they had been advised and they took that advice on board. But as we all know AIM is a cesspit for the insane to stir hatred and fear amongst investors and this was a golden opportunity for a choice few to go on the attack. I thought HUM dealt with the initial incident very dignified and did not engage in discussion to much about it, it was contained and it passed over. In hindsight, this was probably the best way to deal with it. Communications on other matters to have been a little slow and I understand HUMs stance on being a “grown up” company, that constant RNS of every detail may not necessarily prove to be the best course of action when you are dealing with a multi-million dollar revenue generating company. We get that, but we maybe need to transition to that state through a period of time, again, AIM is a putrid platform to invest and many bottom feeders do not care about the fundamentals of a company and trading is done on the most fundamentally weak companies imaginable, companies who are a million miles from generating cash but thrive on sentiment waves, the 30% movements both north and south can be easily manipulated through fear or hope, both ramping and de-ramping being the ingredient for financial gain. HUM is out of that category and in some respects is a bit “boring” for those types of traders and dare I call them investors………? So the key here is and always will be patience. Let HUM deliver, let them go through the transition phase from Chrysalis to beautiful butterfly, stand by their historical performance and ability to deliver.

At times of hardship, when the sp is drifting I often think of the story of when HUM were trying to get to first gold pour before the end of 2017. Dan went over to spend time at the plant to witness the first pour and in an attempt to ensure that he had done all he could placed a pair of work boots on and mucked in loading up one of the critical components with material to ensure that the race against the clock was won! He didn’t just stand by and shout orders, he jumped in the trench with the soldiers and in an almost poignant symbol of unity, physically helped the labourers to shovel the material into the critical component.

Continued.......

1234567mz / TBTT - Your concerns are far too premature, we have just had, literally last week, first ever full commercial production results. I would say that is the only parameter to judge HUM management on at the moment and as we all know Q2 was a roaring success with $50m revenue and $20m free cash (using the AISC figue of $790). I would wholeheartedly say HUM management have delivered yet another promise to shareholders. This of course is after a very successful mine and plant construction phase, commissioning phase and of course the hugely successful and speedy ramp up phase to lead on to full commercial production. It has been nothing short of flawless!

The moan from the PI's at the moment is based around the following:

1. Buying shares.
2. Arms length investment in BH.
3. SP performance.
4. Communications.
5. Financial forecasts.

1 - We have had a response from Dan on the CC, granted it was a bit of an uncontrolled outburst but nevertheless it was a response. I totally understand his reasons for not currently buying more stock and the explanation was plausible. But the counter argument to his statement i suppose is the fact that if he sold some shares when we are say 3 x where we are now, the sp may take a hit but if wouldn't be destroyed and the fact that it would have moved so far on would be the cushion that absorbs any shock from management selling some shares.

2 - I covered this in a recent post, as a shareholder i can accept this initial investment because it is backed by HUM's superb ability to strike a good deal and then deliver the fruits of such a deal. I trust that if this BH venture turns out to be a poor one that they would walk away. The option is they get their investment back at the very least. So i remain totally neutral until we have more information around the deal. The benefits to HUM shareholders both operationally and financially. Far too much speculation and theory has been spouted in the last week or so around this deal which is totally unfounded at this stage. My advice would be to trust HUM until they are in a position to give further details around the deal, its initial attraction and its potential gain to us etc.

3 - SP performance, well nobody can force anyone to buy shares in a company. They can however promote their achievements better, drill home to the market just how lucrative it is becoming. Go out on the road and do some shares events, meet more ii's. We have a dedicated PR company who could do more, at the moment there is no info on what they are or have done to promote HUM in the financial circles. So i can only urge HUM to be more proactive in promoting just how astounding they have performed over the last 12 - 18 months both operationally and more recently in bringing home the bacon! Because lets face it, they really have hit the nail on the head 100% in all areas to date! SHOUT THIS FROM THE ROOF OF EVERY BUILDING I SAY!!!!!!!!

continued.........

Hi Evsta......I suppose the poignant analogy I was going for was that no matter how much quality food you put in your mouth the peristalsis process moves it along until it eventually turns it to sh*te. Similar to the rich and wonderful news we are continually blessed with at HUM.....Perry digests and manages to turn it to sh*te. Another non investor with an agenda, cowardly yet very brave behind a keyboard......I'd be happy to meet up and teach him some manners and educate him on all the good about #HUM!

Interesting facts..............

Peristalsis is a series of wave-like muscle contractions that moves food to different processing stations in the digestive tract. The process of peristalsis begins in the esophagus when a bolus of food is swallowed. The strong wave-like motions of the smooth muscle in the esophagus carry the food to the stomach, where it is churned into a liquid mixture called chyme.

Next, peristalsis continues in the small intestine where it mixes and shifts the chyme back and forth, allowing nutrients to be absorbed into the bloodstream through the small intestine walls.

Peristalsis concludes in the large intestine where water from the undigested food material is absorbed into the bloodstream. Finally, the remaining waste products are excreted from the body through the rectum and anus.

QUITE CLOSE TO THE ANUS HEY PERRY :)

Says it all really Perry :)

Yanfolila highlights at 30 June 2018

33,101 ounces of gold poured at an AISC of US$790/oz

Average grade of 3.43 g/t

38,726 ounces of gold sold at an average price of US$1,307 per ounce = $50,614,882 (Free cash - $20,021,342

500,000 Lost Time Incident ('LTI') free hours achieved during the quarter

Exploration drilling campaign targeting conversion of Resources to Reserves commenced at the end of Q2

Corporate highlights at 30 June 2018

Cash of US$46.2m

Net debt of US$15.6m

Is it about investing in gold or investing in a company that deliver and make money under a proven track record........they are a mining company! Gold, Silver, Zinc.........who cares if they are making millions of dollars in revenue and free cash! If HUM do their due diligence and it is an asset worth pursuing then get on with it i say! One element that you can be sure of, if it isn't a winner or if there are any skeletons discovered in the closet HUM will shut the deal off before it gets going...........give them the benefit of the doubt so far and let's see what transpires!

No complaints from me perry......i'm over the moon with the Q2 results actually exceeded expectations on all fronts, even the analysts had more conservative figures. Bravo to HUM i say!

1. Bunker Hill - No real opinion yet as it is under review, the $1.5m payment is refundable, they need to do due diligence and all that, its a small amount with no major risk. There is a history with the licence but i am sure HUM will get to grips with that to give them comfort, historical environmental issues makes it a dirt cheap opportunity and reading more about the asset it has the potential to be another yanfolila in terms of capex and IRR, its just a different commodity. If you only invest in gold then fair enough, if you invest to gain then let HUM do their due diligence and report the facts to the PI's that would be the time to say yay or nay i suppose!

2. Dan Betts buying shares, his point was fair i thought. Many directors buy shares to do nothing more than attempt to create a lift in the sp, it can help but also be short lived. His point about selling and damaging sentiment and the stock is plausible. The downside to his comments though are if we was over £1 and he sold some shares in strategic amounts over a period of time it may have a slight effect of say 10% on the sp but could be fully absorbed with a higher sp.....however that depends on the PI and what their average buy in price was. It makes no odds to me if he holds shares or not. I did feel he was a bit short on diplomacy with the chap who asked the question on the CC, diplomacy is critical and key as a CEO and something that maybe needs tweaking and improving in the future.

3. PR - They need to now shout Q2 results from the roof tops, they need to promote HUM around the market, the shares events, mining events, visit ii's get their brokers working overtime to reach as many investing wallets as they can. Promote, promote, promote...........PR can be underestimated and they have Gordon Poole, Owen Roberts and James Crothers from Camarco to get into gear and drive the PR machine now to instill the recent Q2 figures to the wider market.

4. $50m revenue in Q2 with $20m free cash...............seriously guys.............what more do you want! The low and frustrating sp is not leaving us much of a cushion and the sad fact that we are right back to where we were prior to yesterdays results is gut wrenching.............but im not here for the daily movements, i am here for the VERY long and exciting growth journey ahead. If HUM mirror these quarterly results for the foreseeable future then we certainly wont need to worry about the sp and the mcap and the return of value to shareholders. We are one day past our first EVER quarterly commercial production figures.............and they were beyond expectations!!!!!!!!!

Enjoy the weekend chaps, remain as positive as you can and continue to trust in HUM, they have not let us down yet.......plenty of running room and huge uplift to come.......

Dropinmonkey - 'what’s the plan with the money’ - I think the business development section of the rns is pretty explicit! Invest in internal projects if they make sense whilst looking at external opportunities if they offer a good return! Also not much point in paying back debt early if you have an early repayment penalty…....

dropinmonkey........where were you at 10am..........those questions could have been asked and answered on the conference call.....which is the point of having a conference call! what a miserable post on such a milestone day!!! Get a grip man :( :( :(

cheers mozzie..........great insight!