Member Info for Playboy007

Yet when I suggest a concerted effort to get rid of the inept management, nobody is interested. Too late now, we just have to hope Kouroussa comes online before the company bites the dust, or is diluted to oblivion.

If HUM run out of money and they hold shares in Pasafino they will sell them down.

Guvvi is clearly correct here and suggesting Dugbe will be sold for anywhere near NPV is incredibly misleading or misguided. I don't suspect Bonker really believes this for a second.

Not as bad as I feared. Fingers crossed for a strong operational performance at Yanfolila and steady progress at Kouroussa.

Can anyone fill me in on the VAT situation? I saw there was a bill for a few million paid a while back. Was this due to a change in Mali's tax rate or something else? Can we expect any more of these? Also, has anyone tried to calculate what is spent by the company in addition to AISC at Yanfolila based on previous reporting? I am trying to work out how much of the cash for the Kouroussa build has been used to keep Yanfolila afloat. It already looks like at least 10 million, but if the build comes in on time and budget the overdraft would cover that. I think during the ramp up Kouroussa might also be a cash drain, but if they can turn a small profit at Yanfolila it might cover that. Basically looking like if everything goes to plan from here they might possibly, just about, not need to do a raise.

Well, I just watched the Q2 update interview. It would have been hard to have been less inspiring. They mention that there are still issues at Yanfolila, but they don't say what they are! There is a brief mention of drill and blast plus grade control. You've had a year Anthony! What could you possibly be doing now that shouldn't have already been done?! I think they might be able to get the AISC down to $1500 at best. You have to remember the company will have additional costs not included. It seems likely to me that they will run out of money before Kouroussa is properly online. I am considering delayed payments and use of the overdraft in that assumption. Dan just seems to be praying for a higher gold price. As ever the bottom line is that management here are incompetent and opaque.

I'll believe it when I see it. They have a terrible track record of meeting guidance and have already started walking back AISC expectations. We all knew they were fanciful after Q1 numbers anyway. An improvement is welcome. However, it comes from an incredibly low base and the fact remains that they are still losing money. Our money! Fingers crossed going forward.

Yes, Dugbe is worth 200 million pennies or jellybeans? Maybe they have sold up for a Jammydodger because Dan was hungry, they just didn't feel like telling anyone in an RNS. To be fair, that does sound about right.

Me too, I hope it goes to zero. Then it will be really cheap and I'll have lost all my money!

The question is, how high can they raise rates before something breaks. I don't think anyone knows, but the debt levels suggest it won't be that high.

As the share price dwindles the prospect of a raise looks even more terrifying. Are they making a profit at Yanfolila now? I really hope so... From what they have said the money runs out around the end of the year. Hopefully, they will be able to take on debt to get through to Kouroussa production. I think there will be a profitable period then, but what will the debt burden look like?! It's so hard to quantify the risk of bankruptcy here, but I am holding on and crossing my fingers we don't have to face dilution. It's an interesting punt at this price for new money. Time will tell..

And what about Q4 and Q1...

It will be if they have to do a raise. They went through the first 2 tranches very quickly. It's impossible to know how much money intended for Kouroussa has been used to support Yanfolila and its not as if dodgy Dan will tell you. As a best guess I would say 10s of millions. It doesn't even sound like they are providing guidance for a huge turnaround at Yanfolila and that's with a terrible track record of maintaining guidance. Unfortunately, a raise would require a significant discount. I mean personally I wouldn't take it at any price. If they require 10s of millions at a big discount to 10p, it doesn't take a genius to see that the dilution will be massive, or they go bankrupt. Anyone that tells you differently is an idiot or lying. There is the promise of Kouroussa, which on paper throws off enormous amounts of cash using current metrics. But then Yanfolila did alright for a bit to pay off the build debt. HUM could be seriously diluted and $150 million in debt before kouroussa is generating cash. I'll remain here with my fingers crossed and something clenched, but I am not that hopeful. The reserves and resources update was woeful. They need to stop all further drilling at Yanfolila because it is not paying off. If they don't see a vast improvement at Yanfolila then they need to wind it down. Tough times and hopeless management in an incredibly unstable country. What could go wrong?

K no

**** poor as usual. You rampers are delusional if you actually believe the tripe you spout. Reluctantly holding quite a few of these at a massive loss. Fingers crossed I someone recover some of my investment. I should be sensible and sell up, but with these losses I am past caring.

Do not buy anymore.

Dan has bought too many friends.

The board need to go, but for some reason they still seem to have supporters. It would be funny if I hadn't lost so much money on this.

Pasafino will convert Hums interest into new shares for 100%. The markets will tank. Pasafino will dilute for working capital or to build the mine. HUM will be desperate for money and sell down their share of Pasafino for a pittance. Anyone remember Cora?! That's what my magic 8 ball says anyway. Oh, and Dan and friends will find some way to invest personally in Dugbe with loads of 1p warrants attached. For the boys!

So hotter than expected. Implies more rate hikes. Bloodbath open?