I think we will soon have an RNS stating mining has resumed without much fuss. The SP is creeping up, delays are not in the interest of anyone (other than shorters). Someone knows something and people have made some money riding the recent waves here. Mates have had time to take positions. This is me hypothesising, I'm not in the know!
I will be voting against re-electing certain members. But will read the up coming quarterly rns when it drops with interest, and a magnifying glass. Until then, I don't think we will have much news.
I remember the days of looking up share prices in the daily paper, people didn't expect to be updated every 5 seconds back then.
Good luck all.
If you stop to think for a second, people have let their imaginations run away and we're in headless chicken territory.
In reality, yes everyone seems fed up with Dan (I am) but yanfolila is still producing gold and we have not heard anything to suggest it is not performing as management anticipated.
Kouroussa has not been halted as there is still one crew working on site and they are still producing, but at greatly reduced levels.
This is what I can make of material news that is out there.
Corica think they are owed money and Hummingbird think the contractor hasn't done the contracted business so hasn't paid some/all to them. That is stated fact.
What we don't know is where is the money sitting now that should have been used to pay corica? HUM haven't spent it on exceptional items otherwise we would be able to tell from financials. Looking at these will also tell you HUM are unlikely to go bust. They are prudent in speaking to their lenders whom they have a very good relationship with.
Its not a great situation at all. I'd like for the contracting issue to be sorted sooner than later, but I think a lot of people are trading on fear.
Anyone basing their investment, buy/sell decisions off these forums should not be investing.
In my opinion, all the best.
Strong buying. What was the old adage.... Buy on rumour!
If they have got another contractor in place then it shouldn't be long to get mining to a more productive level at KOR??
Any thoughts if that agreement will incorporate YAN??
Bit of a late April fools, but that would be an ideal situation. 🤔
I can't quite believe what I just heard.....
Dan Betts is stepping aside and corica have agreed a phased return to normal operating levels withdrawing their grievances!!! 12p today!!!
I think I recall this being a possibility a few years back, but SDX are in the process of offloading all their Egyptian assets and focusing solely on Morocco.
Lots of synergies between Sound and SDX.
Is this a possibility?
Marce Jacobs - project manager Kouroussa
Belinda Van Lent - Group mineral resources manager
Greg Broux - Managing Director Commercial
Luke Main - Managing Director People
Saidou Ide - Regional Director West Africa
Edward Montgomery - Managing Director Corporate Development
What are these people doing to justify their jobs. They are paid above industry standard. As is our BOD.
Between them. They can't open a packet of crisps!
And Chairman. I forgot that Dan is acting at this as well.
As I've said, I'm not a fan of Dan Betts, but this is really taking the biscuit.
Surely they should be changing the people at the top as well as the mining contractor.
You can't make it up. Just one thing after another.
This has obviously been going on since before 17th March if they have to speak to the bank about funding.
This could squeeze HUM!
Such a disappointment :(
I'm hoping to average my 28p down. I had a chance to get it to 9.4p a couple of weeks ago, but left a large chunk in a banking share, which has done very well for me. I'm waiting for a divi, so if this stock is still at a depressive level by mid April, I am likely to put a bigger wedge here.
Again it is the BOD's performance that has delayed me doing it before. Fingers crossed they will get some momentum soon. 1st QTR results all important.
**Publican, not Pelican. Auto correct! Apologies
The problem Pelican is that many investors here are longer term and have been burnt by 'jam tomorrow' promises and missed guidance. I certainly hope you are right though, but once bitten twice shy prevails a bit so I think people are waiting for more certainty. The list of issues they have had to overcome is biblical!, but it's never been the BOD's fault though.
Thanks peeps, if only HUM responded that quickly 😂.
I can't hide it, I expect more from Dan and the board, given what they are paying themselves.
I just hope there are no more nasty surprises for once. Let's have an RNS that only has good news. It'll be a long shot for HUM, but it is possible.
I've been looking through HUM's financials but can't see how much the BOD pay themselves, particularly Dan.
I can see 'other administrative expenses' at $11,791,00 for 2022.
Can anyone offer any insight?
Many Thanks
One thing I really know is that Dan Betts has been leading the charge through all the issues and missed guidance. He and his family have a large number of shares, but how many more delays and disappointments should he be allowed to lead??
I would hope this will be his year to either make it or give someone else a chance to lead Hummingbird.
I've been in for years and my average is 28p.