Member Info for Mostyn

I would not be surprised to see the Commercial Mining Announcement within the next 2 weeks. We had an annual report in June last year so everything could come together very soon here!! I would not want to be out of this over the weekend.

GLA

@Deepsurvey1....What's your agenda? You are getting a lot of facts wrong. @Davidbrent.....Since when did it cost billions to build Kouroussa??? You are both deliberately distorting things. Twisting words and playing on anything you can.

We all know there have been many issues, but the recent presentation addressed most of them.

If its through bitterness, then you need to let it go and get a life. There has been ample opportunity to average down if you are heavily underwater or write if off and walk away.

Whatever your reasons are, please try and stay factual and accurate.

One thing nobody ever talks about is the good work HUM do on a social level. They have/are doing a lot of good social and environmental work in the local communities. Plus the Single Mine Origin Gold initiative.

Everyday Dugbe just becomes more valuable as well.

In my opinion. GLA

Start following people on linkedin who work for Hummingbird or related contractors and there are several photos of the site operating day and night.

There are photos of excavators loading and trucks hauling. Some shots of the control room and also many new people starting employment directly for HUM.

The company have been busy with the Canaccord mining event this week. Could we see a Monday RNS? Who knows, but either way, I think HUM are now heading in the right direction.

GLA

I asked the company and they stated the have no current plans for share placement. This was confirmed by the investor relations team.

They could neither confirm or deny that Corica are back to work following social media reports but stated " We will provide updates through official channels when significant developments occur in this matter."

So from that, in my opinion, we will be due an official back to work notification when the T's are crossed and the I's are dotted.

I am very relaxed as we know a lot is ramping up from LinkedIn posts/social media, costs are more than being covered by current production. Kouroussa is ramping up and soon to be commercial, we can see people and big kit back at site, we know they have done a couple of blasts.

A nice steady SP rise would be brilliant.

GLA

No, the blasting has got them into the high grade stuff now and they're able to get the commercial quantities going. Thats my take, so hopefully they can announce mine commerciality soon.

From the RNS...

"With contractors ETASI operating in April and processing ore and

stockpiled material, delivering an improved feed grade and multiple

successful gold pours despite a reduced fleet.

▪ The team has started to see higher grades due to mining in the Koekoe

deposit's transitional zone.

▪ Grade control drilling recently completed indicates a shift to high-grade

ore within the next 15m, setting up a solid base for operations.

▪ Once the next few blasts are completed, access to higher-grade ore

essential for commercial production will be enabled."

So we know from LinkedIn that they have done a couple of blasts and we know more people are back working on site. So could we have a Commercially Operational Mine announcement soon?

In the newly released presentation it says: - "All four mining fleets are on site, with a fifth additional fleet operational to further accelerate ramp-up."

So I would assume that presentation means its all back to business.

Next RNS will hopefully confirm they are all back and also confirm mine commerciality.

Some more corica workers back on site too....with some big boys toys.

In the recent presentation, Dan was fairly confident of 'within 2 weeks' to pick up better numbers.

Was that because we are closer to high grade gold pockets, was it because Corica were close to resuming worth/fully replaced, or both??

I'm quietly confident. GLA

you're funny lew, it was definitely a bag of *** packet calc.

unfortunately i've seen it happen before several times. buyers are vultures. but remember dan and minty stated in the presentation that there have been no offers.

the sector is experiencing consolidation so what i was getting at was that i would not be surprised if there was a bid.

people are over sensitive on this board. it used to be a good source of debate, but seems that quality is being lost.

It would not surprise me if a bid came in for hum at around 11-13p.

Who knows, but we have assets that more than back it up.

Brokers are targeting 22p

I'm talking about the value of the asset from last weeks presentation.

So from your post Bushy...Dugbe is only worth £9.3 million to HUM because Pasafino Mcap is $31M.

The NPV given current price of gold is huge. Do you think anyone would accept an offer price of $31million for the Dugbe asset. Not on your nelly pal!!

Yes, and that is undervaluing dugbe!

I've just checked in having invested when James Parsons was still giving investors gold crusted jam tomorrow.

They've been talking about this microLNG for a long time now. Worst company I have ever invested in and I've supported some dogs. But I hope that one day I might recover a tiny % of my initial investment hear.

They always need funding, yet they never seem to be able to get to any meaningful revenue generation!!

Good luck all, but take the rampers enthusiasm with a massive pinch of salt.

It would not surprise me if there is an offer for the Dugbe asset or for HUM as a whole very soon.

In the presentation they stated the asset value of Dugbe to HUM at $1800 gold is $650 million. That's without additional resources being proved up and is 30% below current gold price. So the company's MCAP is more than backed up by assets.

I'm quietly optimistic for a very good Q2.

That's basically a worst case scenario for me. Considering the consolidation in the sector and what certain assets have sold for recently, with my average at approx 9p, I would do well at that.

Get through this squeeze unscathed and then yes the SP is very cheap.

The company stated they are not in receipt of any offers.

I get the feeling that recent difficulties have been blown massively out of proportion. Thats my opinion and I am investing accordingly. Time will tell.

I am more relaxed about my investment after that. It's my biggest holding, extremely risky I know, but there is potentially huge upside. Even if a takeover offer does come in, you're looking at a minimum of 11-12p IMO.

Hedges restructured so that HUM can benefit more from the price of gold and alleviate any pressures with Kor production.

No debt covenants or restrictions to worry about with Coris. Kouroussa is virtually ready to potentially become 'a cash machine' in the words of the CEO.

I am more confident following the investor presentation. The asset value of Dugbe is huge and they have barely scratched the surface of that acreage.

It would have been nice to get some more detailed financial impacts, but a good explanation of the recording of the corica invoices was given.

It has been a squeeze , but they are coming through it. That was my take on the presentation.