Member Info for fsjamescampbell

$790 / oz AISC - 38,726oz sold during Q2 @ $1307 / oz

38,726 x $1307 = $50,614,882 of which $20,021,342 is FREECASH......simply - WOW!!!!!!!!!!!!

I will whatsapp it to you Lobon

http://www.usagold.com/cpmforum/

Not sure about that rileyma........? You could always email Bert Monro he is excellent at replying to PI's

Tomc - well spotted.......i should have read what i posted and originally wrote myself.....lol!

Thanks mate :)

The plant has the other crusher built in (im pretty sure) there were 2 large conveyors not being used and they were explaining it on site. They were only crushing the softer ore from the back of the Rom pad but there were two other areas idle and not required.

The above needs further clarification but i'm pretty sure its all in place???

Hi Tomcorvid - The following is an extract from my March 2018 Site Visit Report (Page 17) Talks about the plant and the crushing process / set up.

"The plants nameplate is 1.24Mtpa, however the plant running on oxide ore has the capabilities of
increasing the milling capacity to probably 2.5Mtpa the restriction currently is the CIL (Carbon in Leach)
circuit as this is not designed to process 2.5Mtpa. They also don’t have an indefinite amount of oxide ore
to process. So, as they get into the harder rock ore the milling capacity will be limited by the grinding and
crushing process. The plant has a 2‐stage crushing circuit, the plant has also been designed to bring in an
additional tertiary crusher, but this won’t be for a few years when they start processing the harder rock
and the process will become a 3‐stage crushing process.

It is a straight forward gravity CIL circuit, it is a standard system used on many processing plants in Africa
and around the world. They run a cyanide extraction at the end of the plant and detox the tailings before
it goes out to the TSF (Tailings Storage Facility). The plant is powered by a diesel generator system which
was designed, built and commissioned by Aggreko. The CIL circuit comprises of a 6‐tank system in a zig
zag pattern with a 7th at the end which appears to be the agitation tank. Air is blown in to this tank as part
of the final process before passing through the acid wash and then the Elution Column (this process is
described within the “Gold Pour” section towards the end of this report). To get the recovery within the
CIL tanks they generally need at least 20 hours within the tanks, HUM reported that they are well within
the 20 hours! Not only is recovery rate excellent, the Gold purity is excellent, and the plant is running
better than initial design. This really did bring a huge smile to my face and made me feel so much more
confident in my investment!"

Chaps.........Don't forget there is a conf call today at 10am - Any questions you have get on there and ask them, this is the time to have an open one to one and see how they react to questions. No point asking each other, get dialed in and exercise this opportunity as shareholders!

Well a stunning set of Q2 results, further proving that HUM are the real deal!! Sp is cheap as fudge.........surely its a matter of time before the value here is realised!!!

Afternoon Steadyawayy - One element to consider (and this is a subjective view) is the following.........

One of the main reasons to remain patient is the historical and well documented Life cycle of a Junior Mining share diagram! (See link below)......

https://drive.google.com/file/d/1epVybFCr_PoWQIMb1lVP__WNveBv3eS1/view?usp=sharing

My understanding and belief is we are at the optimum point of investment, the base, or thereabouts, of the gentle lift forward in value and subsequent sp.......the diagram in the link has been a template for Junior Miners for decades. However, in order for the diagram to come to fruition the company still needs to reach and achieve milestones, such as:

1. Successful ramp up phase - tick!
2. Hit monthly targets during early quarters of production - speculative tick (hopefully convert to full tick when news lands soon).
3. Continue on track with forecast production numbers - (too early to tick).
4. Cash is managed correctly in the early phase of revenue / building war chest - tick! (HUM's firm desire to pay down debt).
5. M & A - speculative tick (we know HUM are focused on finding new assets).
6. No more dilution / additional debt - tick! (however depends on item 5 above, but knowing HUM's attitude on cash management, i would say we won't see any further dilution or negative debt - debt can be positive given the right kind of acquisition though. But HUM are very good at optimising spend v operational value as has been witnessed during the development and commissioning of Yanfolila.

Perry - the difference between our posts is yours is mixed with fact, conspiracy and negative speculation and unfounded suspicion. Mine are based purely on fact, of course the occasional educated guess on likely production figures and the like. So you have been in since 16p..........then what the hell have you got to complain about??? You are still near on 100% up.

What is driving the negativity from you and the other occasional negative posters, one of which appears to have been banned (hooooooray), is the frustrating sp. We appear to have witnessed a seller or sellers since the happy days of 39.5p around december and we appear to have witnessed a buyer whos buying power appears to be suppressing the sp, who knows how the market maker deals are struck these days. MM's coordinate selling by throwing through a few sells from their own stock arsenal which in turn sifts out shareholders who fear a downward movement. What we seem to be experiencing currently is a total lack of interest in HUM shares. Volume looks to have dwindled, i don't know maybe investors have been put off with the small movements, lack of 10 or 20% daily rises or drops etc etc.......but for some reason we appear to be in a rut!

Will Q2 results change this.........maybe for a few days we could see a spike to 35p then a gradual pull back to 32p and then a sustained and healthy rise forward. Who knows what the general PI is looking for? But a cash positive company, paying down debt, extending LOM and set to generate around $60 - $70m free cash in the first 12 months of commercial production from April 18 - April 19 is not attracting investors to rush to the "buy" button!! What a mad mad world we live in!!

One of the main reasons i say we all need to be "PATIENT" is the historical and well documented Life cycle of a Junior Mining share diagram! (See link below)......

https://drive.google.com/file/d/1epVybFCr_PoWQIMb1lVP__WNveBv3eS1/view?usp=sharing

My understanding and belief is we are at the optimum point of investment, the base, or thereabouts, of the gentle lift forward in value and subsequent sp.......the diagram in the link has been a template for Junior Miners for decades. However, in order for the diagram to come to fruition the company still needs to reach and achieve milestones, such as:

1. Successful ramp up phase - tick!
2. Hit monthly targets during early quarters of production - speculative tick (hopefully convert to full tick when news lands soon).
3. Continue on track with forecast production numbers - (too early to tick).
4. Cash is managed correctly in the early phase of revenue / building war chest - tick! (HUM's firm desire to pay down debt).
5. M & A - speculative tick (we know HUM are focused on finding new assets).
6. No more dilution / additional debt - tick! (however depends on item 5 above, but knowing HUM's attitude on cash management, i would say we won't see any further dilution or negative debt - debt can be positive given the righ

I really can't answer that Ricky..........does it bother me? Not at all!! This subject has been spoken about recently so i suggest the best course of action would be to maybe email HUM and ask the direct question. Again, this may well be a moot point as after Q2 results they may be in a position to purchase shares as HUM would be entering a relatively "predictable" phase in terms of production.

It is a connundrum of course but is it really a big deal?? I was in conviviality this year on a quick trade, i bought in after a big drop, particularly after the directors made HEFTY buys........24 hours later trading was suspended and they have now gone bust...........director buys aren't necessarily the answer to lifting the sp, but i do agree it will certainly help with sentiment. All in all a question needs to be put to HUM!

Perry............is it so hard for you to grasp the concept of "investing" if you want instant reward go and trade GGP or FRR, UKOG or the many other volatile fast moving high risk stocks on AIM.

---HUM EXCELLENCE---
1. Acquired a world class licence.
2. Secured funding against all odds.
3. Excellent execution during the construction and commissioning phase.
4. Poured first gold on time and on budget as predicted.
5. Successfully executed an aggressive accelerated ramp up phase (3 months) in which the plant was tickled and fettled to perfection with gold recoveries in the very late 90 percent region.
6. Announced commercial production 1st April 2018 meaning that we have only just gone through our first full quarter of production.
7. Successfully produced and launched the SMO coin series.
8. A very high cash positive company.
9. Debt being paid down from previous loan.
10. Likely to have produced 33 - 35koz of gold during 1st commercial production quarter giving revenue of around $40 - $45 million based on average POG of say $1285.00
11. LOM extension program underway.
12. Dugbe discussions with Liberia and potential JV partners underway (given recent info that has been reported).

I think between Tuesday and Friday next week we will have news about the full commercial production month and hopefully another chance to ask questions to management on another investor call which was a superb and very helpful exercise last time around. Lets wait until after results to see if HUM has managed to continue this rich trend of achievement and success.

---HUM DOWNSIDE---
1. Security incident was unfortunate and maybe as shareholders communication from HUM could have been better (officially) however when any PI contacted the company there was a clear message that they wanted to keep a low profile during this phase and had been advised to do so by their professional advisers. Makes sense of course but as shareholders more regular updates would have been welcomed.
2. Director buys. Maybe they are in a closed period until after 1st commercial production results are out so that the market has the chance to judge the success of this quarter, cash pile, oz produced AISC and so on. Hopefully we will see some director buys through Q3 or 4 but we do have the LOM exploration underway and this could also be a sensitive time for director buys to occur (maybe an email to HUM would help you Perry)?
3. Current Dugbe activity - we see snippets from Liberian news articles (which are very inaccurate in themselves) however HUM have said nothing official on this recently. Again as shareholders we have the right to email them and ask what is happening if we have any concerns. I'm sure when the time is right we will get news on Dugbe.

Investors like you Perry are completely baffling (which makes genuine holders detect a potential "king size rat" If we are still in the same place in 6 - 9 months time then your comments may be more relevant - remember how ea

Unlucky England boys! You did us proud :) oh well on to the Q2 results in the next 7 - 10 days or so.........should be stonking results and finally prove the fantastic success that HUM are continuing to achieve :)

Chaps just don't converse with the parrot......he offers nothing to any discussion whatsoever and is a constant drain :(

Tighter than a ducks sphincter!

bounced off 17.4p now 3 times.........sustained buying should see this moving to 18p plus on close..............i tweeted earlier in the week that an 18p plus finish this week would be a good result, we spiked at around 19.4p so the pull back was inevitable but it has tested 17.4p 3 times and moved forward again.............we shall see, looking strong anyway!

That's fair comment SE - Last time i met with James, Brian & Sarah it was close to Badile failure and Brian did comment that the hydrocarbons were within touching distance but they could not drill any deeper due to the original well design and the immense pressure that was encountered, going deeper could have ended in disaster with the well not being designed to go much deeper and to withstand those pressures. Just a memory i had about the comments that he made...........he was frustrated that they were within a grasp of it being a success, shame really.

Dixie33 - The back is splendid now pal! A lot better than it was..........been out on the bike tonight and had a good 25 miles blast with over 20mph average............the power is coming back, i just need to lose 10kg and i am back to my TT weight. Yes those were a ver broad brush summary of reasons i mentioned on the echo bb after someone asked me. But i witnessed a wee spark when i watched the BM and Malcy interview.

Tableleg - 39 -40p is very attractive, i have chunks tied up in a few other shares but i do plan on getting back in, its a tough one, i grew up with nowt up North and like many i knuckled down, started and now run a successful architectural practice and managed to save quite a good lump of cash over the last 15 years, along with some fortunate investments over the last 8 or so years. As such my risk profile is very low. Over the last 18 months i have had some frustrating losses on O & G stocks so about 12 months ago i searched for a share that was lower risk and long term growth. I think the effects of TE8 and Badile scarred my thought process and having some close friends lose 40k and 50k on paper it just made me re-evaluate.

I have some funds coming in the next couple of weeks so i am going to start to build a position again, maybe not as much as i used to have in here but enough to keep the risk to a minimum or at least manageable if the next 3 drills don't pay off. I have always had gut feeling that there has to be something big at tendrara and listening to Brian again today kind of sparked off some sentiment and realisation...............we shall see but i am feeling like a sounder again..............lol

H - The geology in Eastern Morocco, particularly under the licence area, shares almost identical geology to Algeria, source rocks, traps and the main ingredient being the 1km thick salt seal. But one element to keep in mind is Algeria has this geology characteristics but there are only a few super-productive gas and oil fields like Hassi R Mel and Hassi Messaoud, but the geology predominantly found in Algeria that is responsible for these giant fields creeps into Morocco and dissipates as it get deep into the country, probably around the Atlas Mountain regions. The hope is that within this geological symmetry Sound can unlock and discover a new hydrocarbon province.

The key factors to bear in mind and one which i am sure Sound are hoping to discover is that the productivity of these geological systems can vary considerably. Hassi R’Mel and Hassi Messaoud are classified as super-productive, located on the crests of broad Palaeozoic arches which encouraged extremely efficient lateral migration focusing, and a very high impedance entrapment style.