Member Info for Playboy007

The additional excavator explanation would make much more sense if they combined it with an explanation. Is it just that the other excavators are unreliable? I thought additional spares and servicing were put in place to deal with that. Perhaps a higher than anticipated strip ratio? Perhaps they are frantically trying to reach a higher grade part of the deposit? If the latter, then explain to use where and the rational. It really does stink here. I have reduced (at a large loss),but still hold a significant number of shares. There is always the hope that Dugbe gets sold for a good price and Kouroussa metrics are solid when in production. However, I've been around here since 2016 and hope hasn't served anyone very well thus far. Fingers crossed for the long suffering. We all want to make money after all and I doubt anyone here is shorting this.

You are being rude because you know I am right and you are emotional. We all go there from time to time. Fingers crossed for some luck here.

I don't really get your point. Yes, they have agreed 100 million in debt. Most of that is drawn down already and the new mine is not even close to being finished yet. Even that 100 million doesn't cover the total CAPEX. They have clearly stated they think/hope the company can survive by using their additional overdraft, delaying payments and potentially doing a raise. So, best case they get through without a raise l but laiden with debt. Again, if you are lucky a few good years of Kouroussa will finance paying down some of that debt. I hope there will be some left over for crazy investments and an abundance of 1p options, or poor Dan might have to lose a lambo or two.

You've all got your heads in the sand. There is a very good chance of a raise here and if you read the last RNS it says as much. Yet still there is no appetite to remove management. Unbelievable.

I shall vote against them on all counts. Reappointing Stephen Betts is a joke at this point. He adds nothing. To be honest, I didn't mind Dan paying his dad's earlier investments back by keeping him on the board for a while. Considering the current state of the company this dead wood now needs to be cut, before the rights issue.

Suffice to say I shall not be rushing out to buy a Ruffer fund...

Yes, if they can avoid bankruptcy and get AISC consistently down to anywhere near reasonable levels they could easily be worth this. This is why it's so hard to sell the damn things.

I couldn't agree more that we are far too passive. This urgently needs new management at the top. Trouble is, they are almost all the same and the chance of getting someone better that isn't self serving... slim. This is a dog and I am considering selling and moving on with a huge loss at this point. There are much better value propositions out there, but I can't quite pull the trigger and crystalise the loss.

Maybe HUM asked them to save it so they can release it after terrible Q2 numbers.

Pop the champers and prepare a deluge of 1p options boys!

Now Bonker, about that gold price.... Wake me up when the Fed flips.

Have you got a link for that Panda? I don't recall hearing that. I hope you are right, but I doubt it somehow.

If I recall correctly the funding for Kouroussa was a few million short, so premining was going to be funded be Yanfolila cash flows. It seems they have used some of the build money to keep Yanfolila afloat during Q1. Therefore, if they are not hitting guidance right Now, it seems likely that a raise will be required. The thing is, I just don't think I could justify participating in any raise. Time to clench those sphincters.

I wish they didn't spend so much money on the PR company supporting them. Shouldn't be needed.

What's going on over here then? Talk of no spades in the ground. Last I heard finding was complete, construction starting and secured some cheap second hand gear.

Well, they got one thing right. It's definitely one for the brave. If you look at the mine plan it's pretty clear the grade should improve.

Tbh, I don't care at this point. I've sling these in the metaphorical 'bottom draw'. They will either go brankcrupt/dilute to oblivion, or they will turn it around and it will be worth multiples. We shouldn't need to wait long to find out either. A year or two and I'd be surprised if HUM was here. 50p+ or 0 imo.

I agree with January. They are losing money and unless things improve dramatically a raise will be required before Kouroussa is completed. Add a falling gold price and its tin hats time. I am overweight here, but unfortunately sub 10p would not surprise me. I won't participate in a raise if its required, which makes this very much an all or nothing play now aka gambling. I should have learnt my lesson with Dan Betts already. How many millions has he extracted from HUM now? I've found the new COO very uninspiring and the Yanfolila improvement plan just reads as fluff. The only thing if any substance was additional excavators and that doesn't seem to have helped much seen as some have been there throughout Q1. After the recent bout of unrest they said there was no damage to the plant and then, out of nowhere, a complete shutdown was required. It would seem they were shut down for a while, so the works/damage repair must have been substantial. I wonder how much the maintenance added to an increase in AISC, surely a little at least in terms of wages and materials. The recovery rates have improved, they have stockpiled some ore, and identified where they intend to source higher grade ore from going forward i.e. SW oxide. They have also said they will increase throughout, so we can see several variables which should increase production and reduce AISC. The worry, as ever, is instability in Mali, poor management, and here comes rainy season... Just thinking out loud.

Bonker has gone or heavily reduced then...

I suggested this recently, but there didn't seem to be any support.