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incompetent management, incompetent operators, low ore grades leading to AISC above current gold price and debt building up...
And after all there is a military junta co-operating with Russia's Wagner Group mercenaries in power...islamistic terror groups spreading all over the country, attacks getting closer to the capital now... hence there is a massive country risk as well...
Considering the actual circumstances no sane investor with common sense will invest in that company.
guess here it comes...
NEWS PROVIDED BY
Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions
Jun 13, 2022, 09:23 ET
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VANCOUVER, BC, June 13, 2022 /CNW/ - The following issues have been halted by IIROC:
Company: Pasofino Gold Limited
TSX-Venture Symbol: VEIN
All Issues: Yes
Reason: At the Request of the Company Pending News
Halt Time (ET): 9:13 AM
now the question remains how is HUM funding their operation at Yanfolila ? They make loss with every ton of dirt they dig out, how much more debt can they pile up before the bank pulls the plug ?
Anyhow, you guys know it better, so good luck to all holders...
that's what a good ramper does - you are a perfect example. But seeing how many shares are traded per day it seems nobody is listening to you...
But hey, maybe there is another excavator operating now at Yanfolila, this might things turn around. You could ask Dan, unfortunately Dan & Co have no intention to talk to shareholders, I guess they are busy figuring out how to get the last cash out of HUM before they get rid of it...
Keep up the good work !
@shareminator : lets wait & see...whatever upside you guys expect, it will not happen. Share price will not rise significantly because of some PIs investing gambling money here. Share price would only rise if there is renown II investing here. Which is not going to happen. Firstly there is the political risk in Mali, secondly there is Dan & friends & father...
Having said that, you guys hope the share price will rise once Kouroussa is in operation. But by then HUM will have amassed massive debt from operation, additionally they will have to pay back the loan for the construction of Kouroussa. So when do you expect a dividend payment for shareholders ? My guess is that it will at least take 4 years to pay of the debt, hence you guys could expect a first dividend payment in 2028. And there will not be a II investor to drive the share price for reasons I mentioned above.
So the only guys making money in HUM will be Dan & friends...
And now keep on posting how good eventually everything will get...I will watch from the sideline how Dan & friends are going to sink this ship...
how is HUM going to finance the operation in Mali until Kouroussa is in full operation ? They won't make any money from Yanfolila operations, so are they going to siphon off money from the Corus Bank loans which were meant to finance the construction of Kouroussa ? Or will they issue new shares ? My guess is that they will have to sell their Pasofino stake.
Either way they go, the outlook for actual shareholders is grim...