Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Don't forget the company confirmed they have very supportive bankers ( Coris ) who are determined to see Kouroussa reach production. Probably because they are in as much crap as Humm if they didn't take this stance.
The guessing game is simply what debt Humm has and what sort of combined production profile/costing they have around 9 months from now.
And of course what Dugbe might be worth right now...
100% not having fun no. But i also think markets are about to totally capitulate - feels that way to me.
I'm only interested in the q3 update with their new aisc, production numbers and reassurance on Kouroussa and the cash position.
Probably not a good market to be selling Dugbe in. Still it doesn't have to be worth a lot to make this valuation of Humm look stupid now.
As ever - fingers crossed.
We've also got rapidly falling costs now i think too ( sadly that includes gold ).
9 months till first gold pour and a very supportive bank who will make sure we get there through debt one way or the other ( by the sounds of it ).
Personally i look around the market and see everything offered at very very good prices. The market is certainly very depressed at the moment i'm convinced of it.
I sent a list of bits to the company regarding cashflows etc. I won't bore you with the lengthly reply which is obviously slightly vague on exact numbers given i'm just a single investor.
But they drew attention twice to the fact they have a very supportive partner in Coris bank to ensure Kouroussa makes it to operation.
I think this is significant, thought i would share.
As you say just lack of liquidity. You try buying 20k at any point tomorrow !
Stating the obvious but at 4m a few days ago buying 20k would have been a huge chunk of the free float and it seems the long term holders are not selling but rather slowly buying up more and more.
I agree that if this shows a reason for investors to take note it could go a lot higher quite quickly. I’m sure at a level not far above this the bid would be attractive to a few people.
But if Florence is right then the nav is now even higher and why sell too much below that!?
For once i wholeheartedly agree with Bonkers. You can't say DB is a thieving self serving guy who doesn't care about anyone but himself.
Then suspect he might be ready to screw himself along with everyone else with a tiny takeover.
Forget all of the shenanigans and rumours and suspicions... If Humm makes it to middle next year without finding it cannot raise more finance through debt and gets Kouroussa up and running then even if gold is roughly where it is and the 180k production is a bit high this market cap looks utterly ridiculous.
And we haven't even needed to argue about Dugbe to say the above.
Nothing else matters....not calling the bottom, not accusing the market makers of doing everyone in and not interesting gossip about what insiders know here.
I agree and am very hopeful.
Let me just say this ( as this company is the source of all of my depression! ) it says on time and on budget but not that they will have enough to cash currently to get there and fund it.
I might be being a bit pessimistic here but it's possible the language could be interpreted as that.
However i find it hard to believe we are going to see this and then maybe more RNS then suddenly a panic and dire warning. Fingers crossed and it looks good, glad they've updated us.
He has sold zero shares and they are simply conserving cash now while they get the right outcome. Gives them more time that’s all.
Why it’s valued at the sum you say is anyones guess and I’m not suggesting it’s worth triple.
but ESAN didn’t buy in much below where it is and I’m sure they didn’t invest to break even.
Dugbe doesn’t need to be worth multiples of the current Pasofino market cap either. Cash into humm to get to q2 next year confidently is a game changer on its own.
IF Dugbe in the real world is worth say 100m sterling for our half or even 75% of that then I don’t see why someone doesn’t just make an offer for hummmingbird.
The market cap here for a company with the ability subject to capex to produce 400k ounces of gold a year only makes sense if the market believes we are going bust and absolutely no one will pay us much for anything we own. I don’t know how else to explain the current pricing.
One day an rns regarding strategic options for dugbe will pop up and either we are all fairly wrong on this or hummingbird is gonna go up 250% in a day.
Like you I feel like im missing something as I find it hard to be as pessimistic as the market.