Member Info for Playboy007

By far the most important variable atm in my opinion. Nevermind pick and mix money spend on Bunker Hill.

Braindrain,

Gold price is nearly $100 lower now. That's about 20% off profit margin, so make it 273.6. They only get 80% of it, so that is 218.9. They also have to pay 30% tax on that (excluded some exemption from CAPEX), so $153.2. Then the $15m in debt. The final figure would be 138.2. That is less than the current MCAP. Also, consider AISC is unlikely to be the total cost going forward. Obviously, there is loads of potential, but you should be wary too.

Still kicking myself for not top slicing at 40p though!

Well, the gold price is down quite a bit. My back of the envelope calculations suggest that will decrease profit by about 20%. So, if gold goes back upto 1330 you might expect a rise in SP to 36p. I think the SP doesn't look so unreasonable when you factor in curren LOM, AISC, PoG, 80% HUM share of Yanfolila and tax. However, if like me you ecpect LOM to increase significantly, AISC to go down in coming quarters and PoG to go up, then it's not hard to see a lot of upside to come.

I just want to point out that gold is a tough gig in terms of mining. Iron ore and coal would be far easier. Not sure about zinc, lead and copper, but I'd wager it's easier than gold. In terms of jurisdiction, Mali has to be tougher and less stable than the USA, whether you need an environmental permit or not. So I'd say Bunker Hill would be a doddle for the Yanfolila crew, if the resource is right. Aside from that, they aren't running Bunker Hill. Dan Betts has done well, so hopefully, he can spot a fellow good egg. Is Dugbe built yet? Is Yanfolila upgraded to 200k/per annum yet? Is our LOM up to 20 yet?

Surely that would depend on the figures put out in the revamped DFS? If they can get the AISC/CAPEX down and production per annum up, who knows? Could be more compelling than Yanfolila expansion, just have to wait for the numbers. There is a lot of cash on the balance sheet and a lot of talk/action around Dugbe, so I'd be surprised if that wasn't the plan.

I reckon most of the $ on the balance sheet is being saved for Dugbe...

Well, that's just about as good as this RNS could have been and Bunker Hill to boot. Diversifying out of gold is very interesting, next Rio Tinto anyone?

Interesting post Mozzie, have you got a source for the 600-1 paper contracts? I think you missed Mozzie's point Tomcorvid, it can go on a lot longer. It does look like China are playing the long game and eventually there will be a global reset to gold and the west's borrowing ways will be over.

Mali elections on the 29th will derisk us with any luck. Just as long as no nutter to go Tanzanian on us gets in... I am expecting a big jump then.

They have those 1p options too. There definitely should be some director buying at the market price then. I am literally fuming.

Those salaries are ridiculous! That has really annoyed me.

Where does it say the FD gets 400k a year? I remember looking up director remuneration ages ago and I thought the highest was Dan at 100k, which I thought was very reasonable.

I expect the numbers to be good, but the election might keep the SP down for a few weeks. Hopefully, a new government will bring more stability to Mali. The 15% move from exploration update was on pretty tame volume. With all the good news in the pipeline it's easy to see this north of 40p by years end.

Nice video. Looking forward to seeing some numbers in the next week or two!

"Ongoing negotiations with well-financed joint-venture partners could fund the development through to production."

This seems to suggest conversations regarding a JV are underway. Would we not need to have an RNS if that were the case?

Really good to here that AISC should come in at $750-800 this year and lower over LOM!

hTTps://www.voxmarkets.co.uk/blogs/versarien-vrs-hummingbird-resources-hum-ncondezi-energy-nccl-nuformix-nfx/ 12min 17 onwards

Imagine what will happen if we get Dugbe JV announcement...

Doesn't look like much volume is needed to significantly move the SP here. If we get a bit of momentum now , could get very interesting.