Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
*you're.
*Illiquid. Eliquid is what you've been smoking to give you that misplaced confidence and conviction.
6 milliob
The 500000 lots are definitely sells as I got sell quotes earlier, at the same price. I don't know about the 700000. Ultimately, I guess it doesn't really matter in the long term. I think I'll just do my own research on TR-1 and leave the BB for a while. Publican, you are thoroughly unpleasant to converse with. Your misplaced condescension and constant posturing by mentioning the size of your position is difficult not to rise to. I think any attempt to make your realise what a fool you look and how utterly hollow your world view is would be futile. I miss Billy boy.
*you're
Over 5 million now. Does anyone know when, assuming they were attributable to CIG, they would have to issue a TR-1? A quick Google reveals several different thresholds which are reportable. In my mind it doesn't change the outcome here, which seems likely to be a doubling, if nothing else goes wrong. But if it is CIG and they are unloading their first tranche to derisk, it could take longer to reach what I see as a more appropriate valuation. I can't help but wonder where we would be already if these blocks weren't being sold off. Announcement of commercial production should put a rocket under the volume to help churn through them.
I count over 4 million shares in blocks of around 500,000 in the last few weeks. I suspect without this seller we would be substantially higher already. Still, at least it's still rising!
https://www.londonstockexchange.com/stock/HUM/hummingbird-resources-plc/company-page
You know Publican, it's possible to disagree without derogatory comments. For example, you could have opted for what makes you think that, or I don't think that is the case. Anyway, time will tell because as I mentioned a substantial holding from a major shareholder will likely see a TR-1 in due course.
It seems to me that there has been a big seller in the background for a few weeks now. It'll be interesting to see if we get a TR-1 soon. My total hunch is that it's CIG selling their shares from the first raise, which from memory were eligible for sale around Feb. I can't see why any other holder would sell now, but CIG would be selling at a decent profit and limiting their risk. Unfortunately, if that is the case, the selling could continue for some time.
I'll buy a few back in the morning. Surprised to see that tweet as news article said it was a national strike. Still the potential for more fuel issues I guess, but that is probably coming from ivory coast and not Conkary.
It's a nationwide strike. If you read the news, it left me convinced no mining would be occurring at Kouroussa. The strike is indefinite too. Now people have been killed it's not hard to imagine it escalating is it. Or even to imagine civil war. I mean hopefully and probably not, but it isn't exactly hard to see how this is terrible news.
Https://www.reuters.com/world/africa/guineas-capital-conakry-paralysed-by-general-strike-2024-02-26/
Strikes across Guinea and people killed. Just in the process of selling the shares I foolishly bought over the last few weeks. Good luck guys.
http://www.france24.com/en/africa/20240226-guinea-s-capital-conakry-grinds-to-a-halt-as-general-strike-begins
https://www.aljazeera.com/news/2024/2/27/two-people-shot-dead-as-guinea-protest-turns-bloody
Still no update on mining resuming at Kouroussa. The replacement of the fuel depot is going to take years apparently. The plan is to truck the fuel in. I wonder what the cash burn is in the mean time and if yet another raise will be required. Even if it isn't Dan has completely destroyed the value here with 2 raises in short succession. I suspect Yanfolila will be struggling this as the KE underground is developed.
The bottom line is that Dan is inept and has hired similar. You only have to look at the disaster that was Anthony Kochen. Clearly, whoever he put in place at a Yanfolila was awful and had to be replaced. Now Kouroussa is a disaster. Dan is consistently putting the wrong people in place and that looks likely to continue with him at the helm. No chance of getting rid if him now CIG are calling the shots. So the bottom line is an incompetent Ceo and loss of any sway over the company by anyone but CIG.
Can the Kouroussa ore body save the day? The drill intercepts were good. I expect they are around the corner from the high grade. The initial numbers quoted were 130,000 ounces per annum. They have quietly downgraded this to 100,000. I wonder why. It doesn't exactly instill confidence after the 30,000 to 10,000 to 5,000.
It was very interesting to see Ernie Nutter (if I recall correctly) put in $1m. I don't know his net worth, but I expect that is a massive investment for him. What do you know Ernie?
First time I've ever heard Bushytailed be negative here. I am guessing you sold up?
"Early" clearly means he has realised he hasn't got a clue if/when it might be realised. You'd think another missed target, combined with more dilution, might warrant an explanation...
Have you been living under a rock? Kouroussa steady state and commercial production have been pushed back to "early 2024", with no new reason given as to why.
Why has this fallen so much? Not clear from RNS
Might as well have some fun. Who wants to make a guess at how disgusting the next production RNS is. I'll start, Yanfolila produces 12,000 ounces in Q4 at an AISC of 2000. We met our annual guidance, yay! Kouroussa produced 3000 ounces for Q4. There is no AISC, but if there was it would be 10,000 an ounce.
FYI I bought a few before the last dilution RNS. No plans to sell, or buy any more. I've lost a bucket load on this in recent history. You have to laugh though. All I know is Dan always stuns you with outrageous misses and you are never prewarned.
It's impossible to give Dan the benefit of the doubt though isn't it. The track record here is simply dismal. He is either completely incompetent or of dubious moral character. Quite possibly both. There is no way to put a positive spin on two successive equity raises. Something like 50% of the company has been given away for next to nothing.
The last RNS stated that Yanfolila was on target to meet guidance. This implies they haven't already met the 80k ounces guidance at near year end. So if they do make guidance, I'd expect it to be at the lower end of production and high AISC. Not the beat we were almost promised a short while ago. Not mentioning Kouroussa means that production there is likely abysmal. Probably won't even make the 10k ounces when 30k ounces was the initial target. Also, they quietly changed the annual production of Kouroussa from 130k ounces to 100k ounces. Apparently they are moving the dirt and the plant is in full operation. So I can only conclude the issue is still artisinal depletion. It's a guess of course because Dan is never upfront about anything. I've lost alot here and am now resigned to putting it down to an expensive lesson. That Dan is a poor operator and less that transparent with the state of affairs is beyond dispute. I hope there is some upside here, but it now seems more likely to me that they will ultimately fail. Even if they manage to get things up and running, how long before there is another setback? History suggests it won't be that long. They have a huge best burden and if there is another setback the best you can hope for is more dilution and at worst it's bankrupt. Can anyone explain to me where the upside is? Oh yeah, $5000 per ounce gold.