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Why is the company allowed to put out production results without releasing a figure for costs (AISC) like most other mining companies?
I assume people have been relying on these production updates and buying shares as they thought things were going well but would not have done so if they knew the true picture including costs of production.
Is the NOMAD at fault here?

The 40km trucking distance to the processing plant is probably not viable at the current high energy price environment without a similar rise in the copper price. There must have been a huge rise in trucking costs due to the high price of diesel

Must be very serious otherwise the company would have done a placing and then announced it.
I suspect it couldn't get a placing away so was forced to make this announcement instead.
Is there a chance it will have to suspend mining if it can't pay the bills?

How much will the share price fall?
All time low likely

I see Roderick McIllree has taken up the role of UFO executive chairman.
UFO has lots of projects to keep him busy so I wonder what that means for TMOR?
Presumably he will have less time to search for suitable projects and explains some of the recent selling.

Just read another article about gold mining there :-(
https://www.voanews.com/a/gold-mining-in-burkina-faso-becomes-increasingly-dangerous/6306146.html

This recent incident is likely to put off potential investors
https://www.reuters.com/world/africa/militants-kill-6-attack-convoy-burkina-faso-gold-mine-2022-08-27/

I doubt directors would be permitted to buy until Q3 results are released to the market

I added 25k yesterday.
I'm surprised you didn't have to pay more today following the RNS ;-)
Any other company and people would be shouting from the rooftops about such high grade assays with long intercepts!

Given the high grades at Kouroussa and proximity to surface, it is very unlikely that it won't be profitable.

In an earlier post today I explained why we should see a significant improvement at Yanfolila during the second half of this year and it's also worth bearing in mind that Yanfolila has produced substantial free cash flow in the past with all the mine construction debt paid off

Its's hard to envisage having the opportunity to buy gold ounces more cheaply than now with HUM which are en-route to production

The higher the grade of ore processed, other things being equal, the lower the AISC.

This is why AISC at Yanfolila should be significantly lower in the second half of this year.
Processing volumes are already back at optimum levels as demonstrated in the Q2 results. The primary source of ore now, according to the mine plan, will be the high-grade Komana East pit which has reserves of 2.99g/tonne which will boost the amount of gold produce and lower AISC as total costs are spread out over a higher amount of production.

Very positive update with Kouroussa now over 50% completed and remains on time and budget to achieve first gold pour by the end of Q2 2023.

Further stunning assay results, about as good as it gets, including:
9m @ 32.6 g/t
12.3m @ 13.84 g/t

Kouroussa is going to be a highly profitable gold mine!
Amazing how cheap shares can be bought in Hummingbird at the moment. Once Kouroussa starts producing we should be looking at multiples of the current share price

The only reason they exercise them is that they forward sell shares in the market and then cover the short position by exercising the options/warrants. The profit is the difference between the selling price and the 5p exercise price. They can only do this when there is sufficient liquidity (i.e. PIs buying shares).

It's ridiculous how the directors agreed to give Lind 56.4million options at 5p and 30million warrants to Lansted.
Any buying by PIs is met by the institutions selling down the options/warrants

How many more shares are there in issue now than back in November 2019?

I watched the interview and didn't get the impression Mr Bell knew the outcome of the arbitration and is still waiting for the court's decision. He seems to have given up hope of collecting anything directly from VUP via the initial court ruling and is relying on Gekamines to be willing to pay up. I'm expecting the verdict to be positive but I still think it will be very difficult to collect any of the funds in DRC and could take years as there will end up being plenty more hoops to jump through

Who is going to buy all those shares from Lind and Lansted that they get issued at 5p as there's a huge amount of them?
They will clearly sell into any liquidity generated by PIs trying to ramp the stock

The warrants and options were repriced from 11p down to 5p due to the fundraise. Also the amount of options given to Lind more than doubled which is very poor:

"The effect of the current fundraising is to amend the exercise price from 11 pence to 5 pence and to increase the number of Options held by L1 and Lind from 25,640,254 to 56,408,558"

Also another 30million 5.5p warrants were dished out to Lanstead

I just checked the funding RNS and the Lind funds have 56,408,558 options at 5p and Lanstead have 30million warrants at 5.5p. I'd certainly call that a shed load :-). These guys have shown in the past that they will sell into any liquidity which will create a huge amount of resistance to getting the share price higher