Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Save is my biggest holding and makes up 70% of my portfolio. I tend not to trade very much , however I Chuck some cash at my sipp yearly .
I also own Jse , Cora and BT
JSE is a well run oiler , dividend paying and no debt. Big hopes there … safe investment
Cora gold is obviously a gold play , drilling right now in Mali which has seen bonanza grades . In production maybe early 2023 , fully funded to DFS £30m market cap it’s cheap.
Had a few disasters in the past though mainly due to trading too much and my own impatience. I am far more risk adverse now also …
Pretty much made my portfolio of investments more diverse this more balanced . Buying stocks , 3 buy to let’s and even invested in whisky in which I have done quite well
Hi bpat
Thanks for your reply … fair point however it depends how you measure success . Pretty sure 99% of investors measure that with share growth. With that it’s pretty clear hum hasn’t been successful yet not saying it won’t but it’s clear to me right now it’s not progressing as I would of expected.
I will depart this board for the foreseeable and hopefully it will change in the near future
Dont worry I have been where you are right now thankfully I got out after with a profit , certainly not relative to length I held for . I have sat with DB & BM for several hours and met many of the team .
Let me tell you comms were addressed then , my conclusion after holding for 4 years was ….it was little more than a vanity project for Dan . However losing the hard working Burt was a big loss to Hum.
My opinions are based on the business then and now , it’s simply hasn’t changed , the market agrees with this sadly.
I noticed the point I made regarding gonka has been conveniently ignored and the much hyped 150k oz production.
The drilling campaign has been patchy and very slow , hence no increase on said production even after adding a second ball mill … prove me wrong if you wish /can
Chuck in the odd bridge failing down and unexpectedly high strip rates .
The market simply doesn’t trust the management here, ever decreasing production, LOM and patchy drilling campaigns.
With the ever increasing aisc which investors shouldn’t be so flippant about thankfully record gold prices have kept this viable . Heaven knows where this would be without covid.
I seem to remember HUM stating gonka would increase production to 150k oz PA , where has that gone ?
If you think there is no downside here you are very much mistaken , the very same management paying a little more lip service right now to the PI doesn’t cut it for me .
Results on the ground end of ….
Regards today’s cora’s … as a once long time holder of hum . Questions must be asked of hum management for selling Cora stake and letting this world class block go in the first place .
Thankfully I realised this a few years ago and sold hum who can’t even create value in record gold prices.
The only people making anything here are DB certainly not holders … vanity project for me
i wasn't going to reply but .....well i'll have to respectfully disagree on a number of points.
its certainly NOT a mid tier producer based on its £12m market cap .Canada adds 2P reserves of 8.03m barrels and 3P reserves of 14.4m barrels and at 1500 barrels per day from canadian assets .however SGC haven't revealed costs per barrel as yet not to mention decommissioning liabilities .pretty important/basic stuff if you ask me, but thats SGCs way imo
its production flow rates at borba expected at 3.1mcf/d (large pinch of salt required here) hardly mid tier production . its not a different company its got the very same management ,still liable for stretching the truth and the very same terrible decisions
for the record SAVE isn't yet a mid tier producer , therefore i am puzzled on your understanding of E&P.
my last post on the matter , DYOR i have avoid SGC
Kalahari
avoid SGC at all costs hyped up multiple strong gas shows , turned out to be 1mcf/d. absolute joke of a company stop ramping rubbish here . gary jeffery is Absolutely useless management over promising and under delivering. said dempsey well was a world class well. ....absolute jokers
Cora would need to be in the realms of 5m oz indicated for another larger miner to come knocking. I don’t think this is that sort of play unless a local miner wanted to expand their reserves.IMO a non starter a takeover
Also not putting too much a dampener on Cora but Most miners under cook their aisc driving it lower than it should be , often feel production is also over estimated which effects FCF , cash flow once they start mining dialling in equipment is a big cash drain as they will only take the poorer ore . Early production at hummingbird were traumatic and a great learner as an investor, I hope these lessons have rubbed off on Burt and team .
On time and on budget means jack I realise now
This is as risk free investment as it gets other than political and in country issues is the main risks for me
So let’s say Cora return a modest $20m FCF pa , for me that would put it in the region of a market capitalisation of circa £80-£100m , that’s not full value either something very rarely achieved for LSE listed African miners
So I’ll go along with the sensible strategy of sticking this away for a couple of years , slicing a bit of profit on the way up to remove the risk of my investment altogether .
Right now I’m adding when possible,as it’s damn cheap right now based on how far Cora have come in relatively short period.
I aim to drop Burt a message in the forthcoming weeks regards tekeledougou and how they intend to monetise it or is it a prove up and sell on .
AG
yes the 31g/t drill hole must be backed up with similar levels of assays , for me its a fluke hole until other holes bear fruit .
however very confident of further success regardless of whether they do or not , as market cap after DFS and JORC will be multiples of present £27m