Member Info for panda1

Have't looked at IMM for a while but isn't there a shed load of 5p warrants plus death spiral finance that will hold back any rise unless there is huge volume of buying?

Net cash fell by around $9million in the period, is that due to higher costs and a slightly lower diamond price?

Hopefully the start of the expected re-rate in the share price.
The various projects are likely worth many multiples of the current market cap and the company is well funded with plenty of expected newsflow to help drive the share price

Cash increased $1m in the last 3 months plus a big increase in grade receivables which will significantly increase cash once received

Nice!

Suspected Russian cyber attack on British soil as firm subjected to ‘daily’ hacks

https://www.telegraph.co.uk/news/2022/08/09/suspected-russian-cyber-attack-british-soil-firm-subjected-daily/

No, I suspect Bonks was referring to the junior golf mining ETF GDXJ

The Komana East pit is the main source of ore at Yanfolila from this quarter onwards and as already pointed out the average grade there is 2.99g/t so we should see a very significant increase in grade over the coming quarters that will boost gold production and lower AISC significantly

'NHS 111 suffers cyber attack with staff resorting to ‘pens and paper’
System crash leaves call handlers unable to book patients directly to GP appointments, according to a letter sent to doctors'

Highlights the need for strong Cyber security protection. Falanx has already gone through the lengthy process of being
approved for UK public sector contracts

This sounds very promising: 'the business has established a far greater pipeline than in previous years. The pipeline is not only much larger in terms of financial value but also has a high level of advanced prospects and, most notably, the bulk of the pipeline now comprises recurring revenue opportunities for cyber security monitoring, including Triarii based on Microsoft Sentinel. Falanx continues to grow its channel business and has brought on dedicated resources to expand channel coverage. This investment has proved effective with new partners such as ESET, where opportunities have already been established for providing cyber security monitoring services to their MDR and EDR clients, as well as a much higher level of activity with longer standing partners.'

Not only a placing but a huge amount of warrants & options set at around 5p which will limit any potential upside for shareholders

I don't agree that Hum is 'going to need cash whichever way you look at it'.
Sentiment is poor due to the operational issues at Yanfolila but if you look at the recent figures it was back to around breakeven in Q2 and should be back to generating significant cashflow from here due to mining higher grade ore.

As well as the debt facility to build Kouroussa the company has a further $20million overdraft facility with Coris Bank that should be more than ample to see the company through to the new mine being operational. The company has reiterated on several occasions that Kouroussa is running on time and on budget. Also further cash headroom is available by allowing creditors to increase so that some of the cost of building Kouroussa will be paid out of cashflow from the mine when it becomes operational. The company did this when Yanfolila was built and still had $20million available when production commences.

Looks like a forced seller yesterday took the price down.
There's a good chance that could turn out to be the bottom given the large cash holding relative to market cap.
The company should have another £350,000 incoming shortly as final payment from the disposal of its non-core business division.

Why was it necessary to give Turner Pope such a ridiculous amount of warrants at such a low exercise price?
It seems like TP are the main beneficiary of this fundraise

Am I correct in thinking that UOG are due to receive $1.67million in the second half of this year for the Crown disposal payment? As far as I can see the total of $2.5m was split into 3 installments with the first installment payable in the first half of this year and the final 2 installments payable in the second half of this year.

The rig problem delayed the drilling of a new well at West Gharib so doesn't explain why existing production fell. I assumed it was due to natural declines

Average production in Q2 was 3431 boepd which is a fall of 15% from the average of 4017 boepd in Q1 so not sure this was simply due to a rig problem

Was hoping to see a better performance in Q2.
Average production was 4017 boepd in Q1 but the average over H1 (Q1&q2) has fallen to 3,724 boepd so a poor performance in Q2 has driven the average down by around 300 boepd

Dugbe will be attractive to larger companies because of the significant exploration upside and the potential for a very long mine life. The feasibility study is just a start to justify building the mine

It was expected after a poor Q1 where the processing plant was closed for maintenance which led to low production and a high AISC. Operations improved significantly in Q2 and further improvements are expected in the second half of this year - notably access to higher grade of ore in the mine plan which will boost production, lower AISC and the company will return to profitability.

If you look at the cashflow statement the cash burn from operations was only $3million which can easily be made up in H2. The headline loss is mainly due to depreciation/amortisation of $17million.