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https://im-mining.com/2023/04/11/epiroc-to-deliver-automation-ready-drill-rigs-and-lhds-to-hummingbirds-komana-mine/

Robex are taking on a bit more debt than Hum to build its mine in Guinea. $135m ($35m for feasibility study then another $100m). HUM did well to get a fixed price to build Kouroussa before high inflation really kicked in

Buy order

Looks like the MMs are trying to fill a large order as it's NT to buy and they dropped the published bid but not the actual bid to try and trick some people into selling

Just had a look a Robex Resources. It's a very interesting comparison to HUM.
HUM's projects have much high grade resources in both countries and the Kouroussa mine is about to start producing whilst Robex is in the process of completing a feasibility study for its project in Guinea and will then have to build the processing plant.
If anything you would say HUM should have the higher market cap out of the 2 companies

The new shareholder sounds like a person that would have done a good amount of due diligence prior to taking a 10% stake so that should give us confidence in the company's prospects

Main thing for me is that the full year guidance of 200k tonnes has been reiterated. It doesn't matter what quarter the sales land in. The dips in the share price provide a good opportunity for long term holders to load up

Kershner, Grosso & Co (KGC) was founded in 1979 by Chris Grosso and his former partner Thomas Kershner. Chris built KGC from scratch, and he prides himself on the firm's independent research and intuitive investments. Tim Fontaine, a Certified Financial Planner®, joined the team in 2019 as a principal client liaison. Tim focuses on the overall financial picture of our clients, and he brings a unique perspective and personal touch to the business. Together, with colleagues Gabrielle Hoyt and Vicki Bush, the firm has flourished, growing to over $450 million in managed assets.

Kershner, Grosso & Co has maintained offices in the historic Collamer Building, right in the heart of Downtown Saratoga Springs, for the past 35 years

The half year/interim results were to end of June 2022 so the next accounts are the finals to 31 December 2022.
What makes you think accounts are due this month?

Yes, next accounts are finals due by end of June.
I think we'll get an operations update shortly. This time of year they usually start rehabilitation of the access roads to the mining area. Another shareholder I'm in touch with was in contact with them earlier this year and they seem very happy with how the phosphate project is progressing. It should be a very good asset for shareholders for many years to come.
Give the email posted here recently we should get an update on progress in Togo as a resolution is expected soon although we've been waiting ages for that project to get into production

What a waste of time and money!

I meant to say as you point out that one condition was 'the conversion of SGM to a higher governance SA company' (not a state owned company). Good to hear that has already been done so another box ticked off

I've only just seen that the email posted on Thursday night, just before Easter, about a resolution on Togo being close and I expect quite a few people would have missed it!

Due to the Easter holidays I have been reading the boards and I've only just seen the post about Graham's email saying that the company is close to a resolution on the Togo project. There's nothing in the share price for Togo so if we get positive news on that it should lead to a massive re-rate

I don't think the government get the 10% free carry until the exploitation permit has been finalised. The main details are here, including the part about conversion of the company:
"Exploitation Permit

·; All documentation, including the Mining Convention and Exploitation Permit, expected to be completed by year end

·; Exploitation Permit will be a 20-year permit covering the current 15-year life of mine ('LOM') and any potential increase in Ore Reserve

·; 10% free carry to be issued to the Togo Government reducing the Company's interest in Société Générale des Mines SARL to 76.5%

·; Will require the conversion of SGM to a higher governance SA company

Commercial Production

·; Operations expected to commence at nameplate capacity of 6,500 tonnes per month ('tpm') of saleable manganese ore in Q1 2020, targeting the detrital and laterite ore horizons

·; Construction of an additional 70 tonnes per hour ('tph') scrubbing and screening plant to commence in Q2 2020 with steady state production of 17,200tpm planned for Q3 2020 subject to securing expansion capital

·; Expansion capital is expected to be funded through offtake agreements"

Very interesting!
One of the things that the company has been waiting for is the setting up of a state owned company before manganese production can commence. It sounds like it could finally be happening and we should get an RNS in light of the recent reports in the press

Those waiting for a placing before getting in will be disappointed.
The company is only interested in project level funding now.
Company is fully funded for its current work programme, the $1m is earmarked for the next programme begging in Q4 plus the annual exploration spending rebate is due in the next few weeks. There's also the possibility of divestments from non core assets and company is in discussions over other potential project level JV's.

Great, won't need a placing now so share price should move back up with that uncertainty removed

So we're in Q2 now so should be lots of newsflow as Kouroussa is to start producing this quarter.
If we see another decent set of production figures from Yanfolila in Q1, like the previous quarter, I think we could see the share price back in the 20p range given the uplift in the gold price.

Did the company forget to release a Q4 production update?