The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Working capital must be running out soon, add on interest payments and now apparently buying a new mining fleet or 3.
I can’t see why you imagine it’s a buy right now.
Key things Im looking for-
All management removed by CIG
Dilutive capital raise
Absolutely a no go unless the above happens
Zero alignment between management and shareholders
Cold hard truth .
The debt holders are now in control of the company.
Can management escape with a highly diluted cap raise ?
Either way how can the current management team stay ?
You need to understand the Risk Reward situation at play now.
I’m watching, would only consider a buy on a capital raise.
Don’t believe what the bag holders are saying on here, they are sounding desperate now
Missing the point - they’ve been mining since early 2023.
And still haven’t produced any gold oz note worthy.
Unfortunately it’s the managements responsibility to plan the mining areas and material movements to get the gold out of the ground.
It’s always someone else’s fault
Fully exited now.
The upside has been diluted away, R/R no longer has any appeal.
Plenty other opportunities available to play the gold thesis.
Ultimately management have continued chasing their tails down hill.
Concern with KOR is they have mined for a while now but produced little gold.
If management were confident of $$$ flows this raise wouldn’t be needed.
Why not just wait 3-6 months for $$$ flows to come in ?? Can management really explain this with a straight face .. lol
Looks like a set play by debt holders , increasing $$ burn now will give opportunity for debt to equity swap at later date on lower SP than otherwise.
Every move by management looks like an unforced error now.
KOR capacity now appears oversized, they’ve backed themselves in to convert more gold into production but can’t get it started. Looks like a 60k oz plant would have been appropriate on reserves.
I’ll take that lesson learned.
Out with a profit so can’t complain. The facts have changed!
Good luck
More likely once current proposal is past, is a debt for equity swap/ some % of it. Compete control for Nil Premium!!! Wild stuff
It’s a takeover right now, I’m not sure why management don’t put up the For Sale Sign.
Its comical tbh, management will all be fired once this is through.. it’s game over for there lifestyle company.
Pretty clear take out strategy now at play, chessboard is slowly moving IMHO.
Major shareholder and debt holders, can now open door for a China Gold company to place a takeover bid.
Same players rejected by Tietto???
Anyway looks compelling if I place myself in there boots.
I’d assume increase spend on Dudbe to dilute Pacifno away, or something similar.
Management should just put up the For Sale Signs
Some short term risk management in the form of hedging out gold production at these levels makes sense.
Likely 3 -6 months would see HUM out of the woods.
It’s a pretty simple equation right now to protect downside.
Assuming the gold is getting dug out according to plan , POG locked up. Downside removed.
Upside will take care of itself, if the above is completed.
I’m only here for upside that’s looks interesting in 12 months from now.
POG forecast needs to include Fed easing cycle dates or pointless.
The reaction function in a credit event is when the fireworks commences re 2002/3 , 2008/9 , 16, 2020.
Just apply an average move after event + 18 months and ya got a forecast as good as anyone else.
Stars are aligning now < 6 months , HUM should shine once this is occurring. Get cash in door and ride through the storm
Tietto looks to be taken out now, just post production.
Coris Bank had involvement also.
A lot less hatred on asx for the jnrs , good comparison on valuation gap for anyone doing the work.
Robex Resources looks like a sh.. show now trying to get debt required for new build… valuation check here is interesting for Hum holders!!!
If you go out into 26/26 for 1st gold pours, there’s plenty of dirt cheap one around.
A good basket available now
Has Perseus Mining ran the ruler over Dugbe ?
The Pasifino experiment doesn’t appear to have any real merit. It has zero financial capacity to achieve anything apart from some trenches highlighting potentially more gold. They appear low level operators that saw a distressed play and took advantage.
Perseus are in Liberia with Montage holding. They are one of the best operators in Africa , with a US$600 war chest of cash- growing over $1.2m per day and access to debt.
Someone needs to question HUM management why they don’t attempt to lure in Perseus as a JV in Liberia.
HUM could kick multiple buy in options around to bring in their technical and operational expertise.
DB takes far too much pay and performance bonuses for not achieving real value creation. Bringing in a partner for Dugbe that has no financial fire power or technical expertise is an own goal.
Another chance to panic sell for those with no vision.
Who would have thought you can’t just flick a switch and gold bars get spat out!
My other holdings , different continents and world class people … all same issues in pre production world.
Key point the debt holders are supportive and are the major shareholders, we all know what happens when the tide changes.
Touch wood we get once last big panic sell/credit event to buy more before we’re on the next gold run.
Most people here would happy buy if this was a uranium or lithium mine, classic contras !
If your worried about this market update, you haven’t positioned correctly.