Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
….or it’s a signal that the finance is coming but this is the condition! ….therefore good for the sp!
Hummingbird has agreed to acquire all of the share capital in Cassidy Gold Guinée S.A. ("Cassidy Guinea"), as well as the benefit of any outstanding shareholder loans owed by Cassidy Guinea, subject to the satisfaction of various matters including confirmatory due diligence and the exchange of a definitive sale and purchase agreement ("Sale Agreement"). Cassidy Guinea is being acquired from Cassidy Gold Corp (incorporated in Canada), which is wholly owned by Guinea Gold Limited. Guinea Gold Limited is incorporated in Labuan, and is 77.7% owned by Asian Investment Management Services Limited together with Halfmoon Bay Capital Limited (the "Majority Sellers").
Grade and every disaster possible since production started - am amazed we are where we are.
Following FSJamescambell, and Golden Bull (who I trust are both well) we’ve needed another cheerleader - Tones you’re doing a great job.
As miners often mine low grade in high gold margin times you might think we were lucky to hit this zone when we can still mine it profitably - personally I think this has had an affect on the SP - § ~US$2 million received from the Government of Mali as part payment for their acquisition of an additional 10% stake in Yanfolila, as announced on 2 February 2017 - but this might also be a benefit as the government will be well invested in HUM’s future - IMO time to add but each to his own
As we are fundamentally an exploration company but one with an income stream I think the deal bringing in a powerful partner makes sense. The 23.5% of a stronger potentially more dynamic group raises future potential, not just because Salinbas will get built in a shorter time frame, but also those JV’s that Kerim alluded to may well become part of the groups growth. We explore with a strong cash balance and an income stream which means no dilution once again as Kerim alluded to ongoing dividends.
I have to say that this company is much more communicative than most. Only downside I wish I invested sooner.
Also as a question - given Zenits 2020 performance shouldn’t we be expecting another couple of million in dividend repatriation prior to the Ozaltin deal finalisation.
FWIW ...this is an exceptional resource and I can understand the desire to couple with an Indonesian company to bring it to fruition given mineral resources politics. Like many however the AE deal and it’s structure whilst ticking the Indonesian investment criteria was somewhat convoluted. I like many I suspect who believe in the project but who sold out are now, with this clean slate, buying back in. Why MT who has made money on the AE deal continues to pour vitriol on the project when it is again what he invested in is beyond me. GLA
I , like canaries, have been adding. It is my feeling that Prim was targeted for it’s ggp holding with a view to selling them and investing in a specific target. The infastrata Danawinner/Po****/Beardmore connection organising the board coup being the key. This could just be a conspiracy theory but one of the few I quite like, Time will tell.
Can anyone confirm my calculations
It appears there is a free float of 81.8% of the shares
Including Lighthouse approx 63.15% is in the hands of corporates -possibly more
This leaves 18.65% with pi’s and lower Non notifiable corporate holdings
...and shorts will need to close out 11.29%
If this is so aren’t those short in a precarious position as things start to open up?
I think if ARX feel they can do something with Dugbe then I’m more than happy to let them try. I agree with TBTT that it is a project with high risk requiring a sustained high gold price to make it viable.
I also think we will languish until we have a second mine. It is my view and has been for some time that we should look at AGG’s Kobada project. Almost at point of build but requiring finance. In a jurisdiction we know and bordering Cora’s Sanankoro on which if memory serves we hold an option. Sanankoro and Kobada would share much of the same infrastructure Ie roads,water etc. This in my view would really change our prospects.
AGG are in very close proximity ...they have built a camp and are heading toward PFS/BFS ...need to build roads, bridges and a water supply pipeline ...there are so many cost savings and you get a 4Moz project surely their should be some discussion about merging the two ventures ...why build two mines when you can build one ..even if it’s only to say it wouldn’t work surely It should be looked at!
What follows is all complete fiction
Telephone rings .....
Hello Mayfair xxxx
“Hi XXX it’s Crispy ....Crispy from school” ....small talk follows
“So Crispy what can I do for you”
“Some friends at the FT tell me you have a rather large corporate account with that ‘Upstart Bank Metro’ ...the one run by that ‘American Chap”
‘And’
“I have a little business interest in the bank and was wondering if for a pal you wouldn’t mind moving your account somewhere else ...obviously it would be in your interest” ....more chat
“There isn’t anything illegal in this ...I mean your FT guys, ...didn’t I hear they were being investigated for assisting in the shorting of a German company”
“They’re reporters ...they only report the news ...no sources required ..and all reporting these days to be news has to have a negative trend ...plus the BofE are making it easy ...the accounting error which “DDD” alerted us to so we could set up early enabled us to create negative sentiment ...my guys will be all over the message boards spooking PI’s ...Vern will Tap his mates for funding which will offer some stability for a while to the negative sentiment “all my guys will be drumming up” ...we’ll handle this ...I’ve arranged for some disgruntled losers to create a legal challenge ...all confidential ...and then the MREL requirement will arrive at Metro’s door “knocking” ...providing no one realises that the BofE will be looking at the difficulties banks have in raising this we will make a killing! “ ...Guffaws follow.
We are committed to, before the end of 2020, reviewing the calibration of MREL, and the final compliance date, prior to setting end-state MRELs. In doing so, we will have regard to any intervening changes in the UK regulatory framework, due to the revision of the Bank Recovery and Resolution Directive and the Capital Requirements Regulation, as well as firms’ experience in issuing liabilities to meet their interim MRELs.
“Meanwhile the FT etc will be dragging their heels over the mis-calculating issue ...which in all likely-hood was previously mis-calculated externally and in place when they purchased the loan book ... which they can’t admit because for god sake they should have done the due diligence ...’DDD’s role ....even though it’s an issue the bank has rectified ...which makes the bank is like a “sitting duck on a weekend in the country”
More small talk ...conversation ends
What follows is all complete fiction
Telephone rings .....
Hello Mayfair xxxx
“Hi XXX it’s Crispy ....Crispy from school” ....small talk follows
“So Crispy what can I do for you”
“Some friends at the FT tell me you have a rather large corporate account with that ‘Upstart Bank Metro’ ...the one run by that ‘American Chap”
‘And’
“I have a little business interest in the bank and was wondering if for a pal you wouldn’t mind moving your account somewhere else ...obviously it would be in your interest” ....more chat
“
In this regard, in the event that the Transaction Committee of the Board were in a position to recommend, in due course, that the Acacia Minority Shareholders vote in favour of a Barrick offer, Acacia would seek to discuss appropriate steps for a stay of the arbitration with the GoT and the Arbitration Tribunal. ....from last Acacia RNS ...it appears to me there is an offer the board feel they can recommend
On the 22nd May Barrick share price with a GBP/$ rate of 1.27 was 9.40 and a 0.153 conversion valued each Acacia share at approx. £1.44
Yesterdays Barrick share price with a GBP/$ rate of 1.25 was 13.21 and a 0.153 conversion valued each Acacia share at approx. £2.02
If £2.71 was to be paid per share back in May then this would have meant Barrick would have needed a conversion rate of 0.288 and hence approx. 42.6 million shares - At the current share price and exchange rate this drops considerably, and to achieve £2.71 per share it would by my calculations, have a conversion rate of approx. .205 and thus 30.3Million shares. Some 8.4 million shares above the original 22.4 million the original offer indicated.
You would have to think that the improving Gold price/Barrick share price and the GBP/$ conversion rate have created a scenario where £2.71 should be readily achievable ...unless my math is completely out!