Member Info for January24

There we are Clive,

Something exciting, but achievable.

now bushy is telling us sadly, that he did not go to the mine and sprinkle it with fairy dust.

sadly for those that believed his numbers , and maybe baught shares. he now admits that his posted production and cost numbers were *** packet numbers , maybe written on the *** packet just before he staggered out of the pub.

oh dear, good luck all.

Yep, Bushy stands bye his predictions of both increased production (30%) and reduced costs .

He is more than confident because He personally went to the mine and sprinkled it with Fairy Dust.

DavidBrent,

Thank you for posting the facts and being realistic in your expectations.

I have been following HUM for a few years. Indeed have been a large shareholder a few times over this period and was lucky

enough to have sold out at a profit both times. I say lucky because with HUM you are never sure when an RNS may appear bearing bad news. Currently have a tiny holding just over 5p.

What am I expecting ?

I'm expecting the current directors to stay in post and collect their generous salaries for 2024 and beyond. Why wouldn't they? Now to do this and have enough cash to run the business may be a bit tight ! Therefore I am expecting either more debt if the bank will lend at reasonable interest rates OR a cap out to shareholders for a fund raise of cash with shareholder dilution. If I was to place a bet on which one, then it would be on the latter, dilution.

It would be nice if things were resolved tomorrow and production exceeded targets from day 1 and the price of gold went to $4000 per oz.

However fairy dust is not for me- I'm no fairy !

Although some on here seem to bathe in fairy dust !

David,

No rumours, just wishful thinking ! For some folk on here.

Maybe Even storytelling with a Happy Ending. a bit like those seedy massage parlours give.

Some of the guys on here who's glass is not just half full, but overflowing with fairy dust need to wake up to the real world.

1) ) HUM have run to their lenders/bank for talks

2) Production halted at New mine

3) Company likely to be accruing loses every day the contractor is not producing.

4) How large does the debt need to be before someone else takes action

5 How Long Can They Carry On Like this before something gives ? Maybe someone should email HUM and ask this question.

Renndava,

There's always tomorrow, or perhaps tomorrow never comes !

No, seriously I think we will be nicely over 15p by the end of the week. Thanks to POO.

I'm with Rendava,

POO , brent going to $93 in coming days. Then parking itself back around $90 ish waiting for signals for next steps.

I doubt share buybacks will begin until H2 2024.

I second that, trouble is that I had to read through it 3 times to understand it !

Thanks stevo

Well the good news is that we got Jam today, however shame it was just a small dollop !

Shareholder returns have commenced. I think stevo is right when he said that 2025 will be a much stronger year for FCF as lease outlay and interest costs will be substantially reduced. The big shareholder returns will be seen in 2025. AB has been clever by giving a signal to all us LTH to hold on just a bit longer. Just enough positivity to ensure that i stay invested and do not sell out.

I am very positive for Enquest's future as we move closer to substantial returns..

Lewis,

Get the facts right matey !

I said 5p - go back and check my posts.

Also I was also right, it hit 5p .

So, contractors owed large amounts of money have never bankrupt a company. Is that what you are saying Lew ?

I think history proves you wrong.

Finally my interest here is my business and nothing to do with you, so jog on matey! Lol

All the best to everyone for tomorrow.

Especially long term holders who have been here for years ! I know who you all are, we must be due a break, surely !

I do not want to here "jam tomorrow", our commitment for being invested for many years deserves more than that !

I do want to here that Share Buybacks and/or dividends will commence in 2024 and continue into 2025 and the future. I want to know what % of FCF per year will be returned to shareholders (very importent) ! ! !

I would also like AB to confirm when we can have our 60p Party !

I would have thought that Corica are in no rush to conclude discussions. After all, according to them they have not been paid for many months, hence the down tools !

In negoiations its interesting to see who has the "power" = Translated to ;

1) Pressure of time, on them to conclude negoiations.

2) Pressure of finances, on them to conclude negoiations.

My thoughts here are that HUM lose on both !

Looks to me that if Corica keep holding out then HUM will eventually give in to their demands due to pressure of Time and Finances.

In my book the longer this goes on then the worse it is for HUM and a stronger negoiating position for Corica.

As for Coris bank buying HUM. Why would they ? best to wait for a possible "default" and look too Administration then pick HUM up for next to nothing. My thoughts on Coris, DYOR and make your own conclussions.

Actually more nervous than worried about tomorrow.

It's like your first blind date when you were a teenager.

Will she actually turn up.

Will she be beautiful or ugly.

How much will it cost me.

Will I get excited

Will I make a fool of myself.

Do I get a return on my investment

Yep , it's all coming back now.

All the best for tomorrow guys. I hope she is gorgeous for all our sakes.

AIMOilking,

I am a little worried too.

If AB shareholder returns statement goes like -" We will focus on debt reduction for all of 2024 then we plan to do some buybacks in 2025 with dividends planned for 2026".

This sort of statement will TANK the SP downwards.

I pray we get a real announcement for things to begin This year.

Mmm. Net debt went from 134m at end of 2022 trading year to 140m at end of 2023 trading year !

When will this "built asset" pay the debt down ? ? ?

I repeat, if you can't pay your debt down and it keeps on rising - then something has to give. Oh I know Spacehopper, Jam tomorrow! They all say that don't they!

Lew7,

Check the accounts lad. HUM LOST 40m in 2022 and lost 13m in 2021 - from memory.

Great job !

Good question David,

Sadly no answer, yet !

I would like to add, running a mine is one thing, however doing it profitably is another !

I have always thought that break even was too high. If the debt keeps growing then one day you won't be able to service it !

Dan and the board don't hold a much bigger chunk of shares. If they truly believed in the company and its future then they would fill their boots. In my opinion they live well on great salaries and maybe generous expense accounts. Shareholder returns are a long way off, if ever in my humble opinion

Lol Sekforde,

I would sell the house too, however I can't find a buyer and get all the legal paperwork completed before the 29th March.