Member Info for jammin86

Gold near 2800 and they are still having to borrow money to keep the lights on. Absolute poverty by management. Inability to get to commercial production almost 18 months after first gold pour. They bought a dud in kou

Lew they've been proven completely correct. It's the rampers like you who have been wrong.

The company's inability to deliver free cash flow despite record gold prices is the reason sentiment is so poor, it's got nothing to do with anything posted on this board

Trouble is they repeatedly lie, so you can't really trust anything they say anymore. Dan Betts said this was close to commercial production OVER A YEAR AGO.

I can't even sell 30000 shares lol. Nobody wants them

Come on, if Q3 wasn't a disaster they wouldn't have forced Betts out. Given he presided over HUM for all of Q3 you know it's a disaster lol. Why fight it?

"as it reaches full operational capacity over the coming quarters." This suggests we are still some way away from full capacity, which is pathetic.

Thank goodness Betts is finally stepping down, the question is whether it's already too late.

Is there any gold at kou? I guess CIG think there is value to be had, even if their intentions are to take the company private, which I can definitely see happening.

Gold is at nearly 2700 and these guys can't make money, which really says enough. You could have doubled your money on literally any other gold miner over this period and instead money has been halved here.

BPat you've been consistently wrong

It's fairly clear from the wording that commercial production will NOT be achieved in Q3, as they mention Q4. Really quite pathetic at this stage. Record high gold prices and they simply cannot make it work. They are not producing more than the hedged amount and therefore not benefiting from the higher gold price.

It's absolutely shambolic and I've no idea how anyone can spin it otherwise

Well, the sale hasn't gone through yet...

Lower than ppl on here expected/wanted, but still good news - according to the share price going up

Producing under the target is likely to coincide with an AISC higher than what you've suggested. That's the issue. It's not only their inability to deliver the forecast ounces, it's their inability to control costs. Yan was loss making last quarter, so you'd need that to turn around.

I've not done the calcs but I'd imagine yan has destroyed shareholder capital over its lifetime to date. No amount of ounces being delivered can make up for poor cost control - you've gotta make a profit on the ounces you sell!

Most gold miners pay dividends. Make hay while the sun shines. This isn't tech lol

Hum doesn't need to sell this IF it's actually making money on Kou and Yan... But given how tight things are, and where debt is at, there's no question that selling Dugbe massively changes the risk of the company. Very little of the 9p share price relates to Dugbe, and being able to repay a chunk of debt using sale proceeds will be a game changer

This is a very rare thing, seeing someone on AIM admit to the possibility they were wrong.

In your defence, most AIM companies are run poorly and routinely raise equity capital long after assuring markets they are fully funded!

I love when ppl use the word whilst to make themselves sound smarter, when the correct word is "while". Lol.

Go back to school!

Most people buy their houses with debt. Lol. Why don't you go through the simple thought exercise or imagining the state of a world without debt? It doesn't look very rosy

You are boring and insufferable at this point lol.

The extra debt is used to repay existing debt, so in aggregate it amounts to an extension to existing debt rather than an actual increase in debt levels...

FYI finding a plaster when you're bleeding out is GOOD NEWS

The wound wasn't the news released on Monday. Lol. That was released a week prior. If you cannot tell the difference I've no idea how you make any money in the stock market lol

POG didn't help HUM in Q2, agreed. But when production goes above the hedged 15k ounces, they will benefit. It's really about ramping up production. Either they manage to, or they don't. If they don't, we will likely hear about a capital raise soon. If there's no capital raise we can infer they are making positive cashflow