Member Info for G_G_G

Oh and before any d!ckhead mentions lack of capitalization, this is an lse platform issue on one of my PCs.

my last post with 'our' was obviously a predictive error for the couple of dreamers who found a typo but had nothing by way of counter-arguments to the six points i made. funny that.

and then of course there's the resident h@lfwit anon. funny how you said:

- 'nobody has said 200000 times 2000 is guaranteed and we all hope they do it, but we know it's ambitious.'

well firstly i never said that, they're your !diotic words. but i'd say it's even funnier that you're the person who implied that very thing at 11.54am yesterday. quite the memory you have to go along with your active imagination.

and then there's:

- 'and stick to the shg board if you can't help being so agressive.'

this is after telling me to f@ck off not once but twice in a post. and then to follow-up with a post pointing out a predictive text typo, yet having misspelled 'aggressive' and completely ignoring what was said. i mean anyone can be pathetic and look for typos anon. how about you try working out things such as actual ev:ebitda and then doing some risk assessment against aisc and au price. here's an idea, try looking at yan aisc and take into account this makes up half of the fantasy 200k you've been using, and then base your aisc on what has been achieved the past 2 years. keep in mind they just mined the high grade easy oz in h1. and then look at the difference in yan's dfs targets and reality to help with kour.

bonker, you are talking absolute sense. if memory serves me correctly you're usually very bullish but not to the same extent as laughable bushy. i take it your history of having been invested here is starting to make you question the likelihood of hum hitting their stated production and aisc targets, not to mention all the other **** spilling from dbs mouth. dividends anyone? the fact they have produced 2koz since start-up and are targeting 10koz steady state from q4 really is taking the cake. and the reasons for being behind schedule is they're still stripping and training staff. i mean how stupid are people. if they're still doing these things then production targets are a fantasy. and let's not even talk about what aisc are likely to be.

shg ceo recently did an interview and when asked multiple times about 'risk' he stated operations are the biggest risk that faces any miner. lots of **** can and will go wrong. they of course have a history of performing, even in difficult situations. hum has a history of never performing.

if au averages $1800 next year then hum is going to struggle. aisc will be well higher than $1500 for the year. and there's $150m in debt to service. there's no money for further exploration for the next few years. and the lenders will take their pound of flesh from all of you, just like they did recently. in 12 months shg won't exist as it will have been taken out at 2-3x current value. they will have built $50m net cash (au @ 1800) and likely added another +1.5m oz to their resources across three tenements. there's your re

wow! who would have thought that db has disappointed again. the only reason this company has survived is because of the gold price. and even then it has diluted shareholders and has over $150m debt to service in the next couple of years.

i was saying the other day the best way to make money from hum is to buy after bad news (always guaranteed) and then sell before the next set of results. in between the rampers here do the rest for you. same people peddling the same bull**** being fed by db.

as for the numbers being thrown about, for god's sake just stop. absolute garbage how posters are saying 200k production (like it's guaranteed to happen) x $2k gold price (like it's guaranteed to happen) @ $1200 aisc (hahaha!!!!). all pie in the sky cr@p. anyone can make up numbers.

let's deal with the long established reality of hum.

1. yan is going backwards in terms of production.

2. yan has depleted all the easy oz and now has to move onto the harder, risker oz's.

2. yan aisc is so high it can hardly make a profit even with au above $1800. this means the company has mostly been mining gold at a loss.

4. hum has never been able to mine reliably i.e. multiple quarters at low aisc. doesn't matter if they built a mine on budget if you're making no money when you're mining.

5. kour is all conjecture. people here are pulling numbers out of their @sses. the mine has produced 2k oz over two quarters!!! not the 110k oz at some silly aisc posters here are dreaming up. look at the track record of yan. look at the bull**** numbers originally quoted for the dfs on that project. then consider the reality.

6. circa $150m in debt to be repaid in the next couple of years. that's of course not including any more debt being needed.

someone mentioned if db was a football manager he'd have been sacked years ago. well not if daddy owns the club like he does with hum. if the au price drops back to $1700 this company is toast. you'll all be diluted to oblivion.

if you want to know what a well functioning african gold company looks like then check our shg. have a look at their history and recent quarterlies then compare to all the points made above. aimho

I was very supportive of them drilling Serenity when we had the cash as even if they proved up 50m barrels (half their estimate) then we would have been bought out by now (at a higher multiple due to poo and gas back then). I still believe it was the right thing to do, but I'm not supportive of spending any more time and money having seen both Liberator and Serenity completely miss hydrocarbons due to the geology being difficult (mgt words). Add to this the fact that Repsol mentioned a number of major risk factors around execution and recovery factors, alongside existing infrastructure. Plus, there's the geo-political risk of an anti-O&G Labour government, which is guaranteed to get in next year. If you can't trust a Tory government as a business, then it's perhaps best not to do business in the country (if avoidable). Way too many red flags when you've got none of those flags in Canada.

As for f/o, how long did the last one take? And with who? Waste of time and money in my books for a measly 10m barrels (maybe). If Majid has that much spare time maybe he can start focusing on doing some interviews and farming out our untapped Canadian assets. It's frustrating to even be talking about this given the sp. AIMHO

Yep around 23 mins he mentions a draft WK exploration rns has been prepared and will be released soon. Looking forward to it. GLA

Yeah but I thought he mentioned the WK rns is being prepared, indicating the results are done and being written up. I'll listen again this evening.

And who the f@ck is dropping those 250 / 300k blocks? Must still be a seller, but who? One other thing, did Eric state in his investor meet recording they're currently pulling together an rns on WK or did I hear that wrong?

Au more in a holding pattern until Gaza kicks off I think. The thing that's interesting about Au is what's going to happen when the Fed starts to pull back interest rates. The US economy is looking into the abyss right now. At some point they'll need to choose between their economy, and inflation. It's also incredible how wrong the Fed have gotten things. They took forever to recognize that inflation was going to occur, then even longer to do something about it, then too little given the scale of the problem. They're now refusing to see the probability of an almighty crash if they keep rates too high for too long. Good thing is Au is holding up against the quickest rate rises in almost 50 years. Imagine what's going to happen when they start pulling rates down. Either way looking good for us, not that I think we'll exist in another 12 months. GLA

At some point this will start to move. I imagine some solid drilling results will be the catalyst. Absolute focus should be adding more oz to Singida and NGLM. The former will then lead to increased production of 25-30k oz via investment in another ball mill. That's 135-140k oz per year in 2025 for a max $15m investment. WK is the joker in the pack. I think they need to tread very carefully with this one. A massive, high-grade resource will not only attract majors, but also every dodgy pr!ck in the Kenyan national and regional governments. I'd be planning for licenses more than oz right now.

Also, after reading that NGLM is at end of life I checked our reserves and resources statement. To my eye we have Measured and Indicated resources of 10 years in both our operating mines without adding more oz from the drilling programs. I'd be very happy if they continued to drill the @ss out of both tenements with a bit on the side for WK until government provides the necessary reassurances. If we pick up Helio then WK can tick over whilst they focus on proving up another +1.5m oz at Sing, NGLM and Helio. There's huge growth potential without Helio. Add it in and you've got +15 years @ 150k oz per year. And the mines are already built!

If over the next 12 months Au holds above $1900 (likely imo), we get some great drill results, they invest in Sing expansion, and we pick up Helio, then I'm seeing this as an incredibly easy 2x. And that's without a bid landing, which will need to be higher with every quarter that goes by i.e. in 12 months they'll need to bid 30p if the above happens. Helio could be a gamechanger. Very exciting. AIMHO GLA

Was the call earlier today recorded? Would be good to get a link if possible.

Genises, I'm sarcastically putting it out there as a potential reason why the sp is going backwards while poo is going up. Our mgt team have form for being 'leaky'.

As for the 900k trades, I have only ever sold here in maximum 150k trades, so not me. I do however buy in bigger chunks if I can get a decent price for the volume. I'm also very transparent when I'm buying and selling as I couldn't care less what people think about how I invest my money.

As stated in other posts if my gold company takes off then I'll likely park a lot of my profits back over here such is the value disconnect with the rest of i3e's peers. The thinking being that we have less to fall and more to gain than other O&G companies, although i3e's track record suggests this doesn't always follow. I also expect they will increase the dividend next year from the already decent 8% yield at these pathetic levels, so expect that will push the sp in-line with the increased payment level (hopefully around 20-25%). That's my plan at least. GLA

That's the sloppiest, and most inaccurate report on SHG that I've read. I hope no-one pays for that garbage.

Rehauer, I agree with your statements, but the issue is we've had this value disconnect on so many metrics for a very long time. So what exactly is going to make the market wake up and look at i3e...? With commodity prices rising and the sp going backwards it doesn't instill a great deal of confidence that a re-rate based on fundamentals is going to happen any time soon. And we know mgt aren't prepared to get out and beat the drum to the market. At least when they raised the divi the sp reacted accordingly. And when it didn't you still picked up a fantastic yield. If they were to push the divi up to 1.2p per annum (roughly this year's payment) then I'd expect a value increase due to the yield on offer. The good here is lth's would be rewarded with both a value and income increase. It would still only get the sp to 15-16p, but that's a 20% jump from today's pathetic level, and you'd be rewarded for sitting tight. AIMHO GLA

It would almost be funny (in a horrible way) if they've lined up a dilutive acquisition at 12p. That would have to be the final nail in the coffin of market trust in mgt. No doubt they'll give themselves millions of free shares for doing this as well.

Tony, tnord, littledog and whatever other aliases go by, your continual defense of mgt is beyond tiresome. Now go stick your snout back up Majid's @ss where you like it.

Fwiw I've always found it funny how you like to accuse others of having multiple accounts and have clearly been operating with a few yourself. I mean it doesn't take a genius to join the dots between tnord and tonynorstrom. If the language style, same companies being following, and f@cked up fascination with OMJ weren't dead giveaways then the lazy choice of name certainly was. I saw they shut down your tnord moniker and lo and behold the same talking littledog turns up, following the same companies, having a weird fascination with OMJ, and being a d!ckhead to anyone with a different pov in their much loved i3e and PANR.

So when I say go f@ck yourself it applies to all of you.

SP now 12.3-12.5p. I wonder if we're about to receive an rns about a capital raise at 12p for an acquisition...

That's why it would need to be hostile. I imagine Majid would like to sit on his £600k salary and cheap options for a few more years at least. Problem is mgt get to hide behind rules that state they don't have to announce approaches if they believe it fundamentally under-values the company.

Sirius, I'm hoping it's because they've been sounded out over a t/o. I'm not sure I'd be happy with moving to a company that is likely to be acquired in a short period of time. Not unless there's a big buy-out clause in my contract that lands me 1 year's salary.

Other than that, CEO appts are never easy and do tend to take time.

SP is pathetic. Mgt are pathetic for ignoring it. Disclosure, I sold down another 200k this morning before mkt open for around 12.9p average and dropped more into SHG. At this rate I'll be able to convert my 4.5m SHG shares on a one for one basis back here and have 6.5m in total. If I were to sell them all now I would have 5.9m. This compares to the 4.75m I had before I sold down 2.75m shares and put them into EML (loss / stupid) ASOS (gain) and now SHG (gain / smart). Thankfully I sold around 1.5m for circa 18p average.

I'm not happy about all this btw. More p!ssed off I was right that mgt would do f'all between dropping their rubbish rns that lowered NOI and decimated the monthly dividend, and now. The best thing that can happen here is for a hostile t/o for 20-25p. And before anyone says 'this company is worth more', then look at the sp. The market says we're worth 12.5p with poo +$85. A t/o would at least allow lth's to crystallize some gains and stop getting p!ssed off about the constant value disconnect and mgt's lack of effort in changing it. The email responses to Mort may as well have said - yeah hear you but we're not going to do anything other than providing late production and NOI updates.

Tony, you say sentiment needs to change. Show me what mgt have been doing to change sentiment? You say Shubham is the second most followed O&G commentator in Canada, a market where they have stated goals of growing ownership, so why no interviews? He's even a shareholder ffs. Perhaps time to stop defending mgt. I don't care too much with only 2m shares now in i3e as I either get to buy a tonne more at current prices or get out for my 16p. It's those who keep on believing that things will change and instead have to watch the rubbish sp performance day after day even with commodity prices improving that gets screwed. I wouldn't even be surprised if the sp malaise is because they've lined up a highly dilutive acquisition and have agreed with their II mates that 12.5p is the raise price.

Looking at EV:EBITDA I think it's safe to say after two strong quarters we're running at $20m per quarter. If we assume the sp remains the same, EBITDA @$20m plus average debt repayment / cash build @ $7.5m per quarter, then our forward looking ratio is 1.6. That's without any VAT receivables coming back to the balance sheet.

Now let's imagine all this continues for 12 months (EBITDA @ $20m per quarter and cash build at $7.5m per quarter), plus we get half the VAT receivable back ($15m), then our EV:EBITDA ration is 1.16. That's 1.16!!! This means if someone came in and offered double the sp in 12 months (21p) they'd be picking us up at an EV:EBITDA of 2.3!!! F@cking crazy numbers. And it doesn't include additional oz at our 3 x tenements. It doesn't assume we successfully move to 110k per annum. Or the gold price increasing.

There must be someone running the rule over us now. And if you consider the amount of shares in loose hands I think an offer north of 20p and an acquirer gets to pick this up on the v.cheap. I'm surprised a mid-sized Canadian or Australian company hasn't made an offer. Maybe some WK drill results is what we need to get the industry focused on us. Certainly doesn't help being UK listed. This country is a f@cking basket case only made worse by Brexit. AIMHO GLA

Oh and I'd like them to pull their finger out and get that extra ball mill moving. We can afford it, and they can safely assume that we'll have enough oz to mine. Again, this will help to shift the sp as investors will know in 12 months we'll have a considerably higher run rate. This can be purchased with 1 quarter of cash generation. Silly sp here.

The market reaction has been muted. There's also a bl@@dy big difference between 'expected' versus delivered. Just go and ask lth's at that joke of a company HUM. So that's not a reason in my books for the non-reaction in the sp. Whatever way one looks at it this will re-rate at some point. Either quickly or slowly. I have no idea who is selling, or why. But we're sitting on a forward EV:EBITDA of less than 2. Investopedia refers to anything below 10 as considered to be good. So wtf is less than 2!!! I also can't be bothered trying to work out Hum's ration, which no doubt would rely on assumptions that have never occurred, such as production and AISC forecasts (not realities), to get it anywhere near ours. We've got 2 quarters running at +25k oz, and EBITDA near $20m. I'm hoping the company starts delivering some drilling results soon, and we hear more about our new ceo. I'd also like to hear more about our VAT receivables and see some of that cash hitting our balance sheet.

Plenty of catalysts if this doesn't move the needle. And it's only another 12 weeks before we get another quarter of sustained production and low AISC. Oh, and we get paid our dividend in a little over a week. They can easily double this payment at the end of the year or pay out a special divi and go nowhere near breaking the bank. And then there's confirmation of zero net debt. I'm very comfortable here, so much so that I purchased another 237.5k this morning before the market opened in blocks of 60, 65 and 112.5k. AIMHO GLA