Member Info for Playboy007

Yeah, looks like that seller has probably been cleared. I am happy watching, but as I've said before I hope those in it make some money. Apart from a few rude individuals perhaps. I hope Dan Betts gets the boot, that guy has cost me some serious money.

Discussions have been going on with Coris for a long time now and it would appear they haven't reached a conclusion. Maybe Coris don't want to take HUM out, but they certainly could. They probably will want their pound of flesh though, so what fines/interest rate increases can you expect. This remains incredibly risky until Kouroussa has been in commercial production for a while.

This line made me think that a raise is a forgone conclusion: the Group will need to reschedule its debt repayment and/or will require additional funding to meet its financial obligations and service its debt.

3. Going concern

The financial position of the Group, its cash flows, liquidity position and borrowing facilities are set out in the Financial Review section of the Annual Report. At 31 December 2023, the Group had net cash and cash equivalents of $7.6 million, (made up of $4.0 million of restricted cash in line with the Group's loan arrangements, $11.2 million cash and $7.6 million of overdraft) and total borrowings of $148.3 million. Details on the Group's borrowings are set out in note 21 to the financial statements.

The Group has prepared cash flow forecasts based on estimates of key variables including timing of the ramp-up of operations at Kouroussa following the temporary stoppage, production, gold price, operating costs, scheduled debt repayments in line with the Group's debt arrangements and capital expenditure through to December 2025. These cash flows showed that due to delays in meeting commercial production at Kouroussa, plus the temporary stoppage by the mining contractor on 17 March 2024, and the impact this had on accessing the high-grade ore, the Group will need to reschedule its debt repayment and/or will require additional funding to meet its financial obligations and service its debt.

To mitigate the impact of the stoppage and delays in meeting commercial production and facilitate a smooth transition back to full operations at Kouroussa, the Group's majority shareholder, CIG SA ("CIG") has agreed to provide the Group with a short-term loan of US$10 million of which US$8 million has been received as of 31 May 2024. Further, the Group remains in discussions with its primary lender, Coris Bank International ("Coris"), surrounding the mitigation of the financial impacts of the suspension in operation. These discussions include reviews on current debt repayments profile together with options for further funding.

Management have therefore presented cashflows that supports the conclusion of the Directors that, subject to those discussions with Coris on the loan repayment profile and the continued support of the majority shareholder, CIG, there is sufficient funding available to meet the Group's anticipated cash flow requirements to 31 December 2025. These cashflow forecasts are subject to a number of risks and uncertainties, in particular the estimated time it will take the mining contractor to access high grade ore at Kouroussa, the ability of the Group to achieve the planned levels of production and the recent higher gold prices being sustained. The Committee reviewed and challenged the key assumptions used by management in its going concern assessment, as well as the scenarios applied and risks considered, including the risks around production ramp up at Kouroussa.

The biggest material uncertainties and risks remains conclusion of the discussions with Coris, the ramp up at Kouroussa, ounces produced and whether the current mine plans can be achieved and mining contractor equipment performances at both Yanfolila and

I wonder who's selling down. RNS for raise tomorrow morning? A new banana skin could be wet aren't getting the recoveries we expected from the fresh ore. Circuit upgrade and CAPEX required.

Sounds good and it's tempting to buy. However, I remember last time there was a nice update and I bought in. The next day a raise was announced. So someone else's comment about there being no trust is absolutely correct. Their balance sheet must be stretched to the limit. The additional 10 million loan and then whatever they have agreed with Corica. Plus another mess up wouldn't surprise me in short order. When is rainy season?! Sitting out and watching for the numbers to actually come through. I've been hearing about this high grade and turning a corner for over a year now and nothing but more debt to show for all the bluster.

100% owned and tax free is amazing if that is the case. It would be good to get confirmation from Segan on the tax. I reckon most investors just compare junior goldies as like for like, but most have 20% government stake and 20-30% tax. Are there royalties on Seg?

Bushy, I hope you make money here. It is risky though. Yes, I probably should read before I post. Don't care that much though.

I forgot to add that Corica law suit is probably coming as it sounds like they haven't paid them for ages. Maybe they aren't liable for the whole whack, but a settlement of a percentage would seem likely to me. Trouble is they still don't have any cash and are up to their eyeballs in debt. Never far from the next country wide crisis, whether that be jihadists or civil war or something else. This is risky as hell.

It doesn't though because debt repayments are a liability and G&A is probably getting on for $20 million. There will be CAPEX requirements for plant maintenance and associated with Yan UG too. If they get to commercial production at Kouroussa then clearly thet could throw off a lot of cash. Remember though, there is no RNS confirmation of return to work. Plus, even if there was it's the same crew that gave you a year of beyond dismal performance. So maybe they get into the high grade soon and it averages something like 4g per tonne, but what makes anyone think they will suddenly be shifting the volumes in the mine plan?! It will be the same local people doing the mining and their efforts are clearly woeful. Look at those pit diagrams of expected vs actual. They imply even in the high grade you are shifting half the volumes or less of what was expected. Still no detail on the deal with Coris bank. I've watched Dan operate for years and I know he will screw you to keep the paychecks coming without a moments hesitation. I know you will be thrilled to read my latest dash of realism, but it helps any potential investors get a more balanced view.

Assume a payment is being made by HUM. Otherwise their walkout would have achieved nothing. With $11 million in cash and gold and Corica ask much higher, one has to wonder if a raise is coming. Perhaps not and Corica/Coris are allowing deffered payment. I don't trust this management team though. I am surprised other people do, judging from the SP rise.

I can't see any mention of Corica being back to work in the RNS. The LinkedIn stuff looks convincing, so why isn't it mentioned in the RNS?! Also, no mention of what has been agreed with Coris bank because they are almost certainly not going to meet their debt obligations. If Corica are coming back then one would

I missed the presentation, but I've just looked at the slide deck. I might remember this incorrectly, but didn't Dan say the high grade was 5m away ages ago?! What they have achieved vs the plan is actually laughable. I hope for the holders that they find a way through to commercial production and manage to renegotiate with Coris and be lucky enough that regional instability or rainy season doesn't derail things. It would seem to me that even if everything went perfectly that they are still at the mercy of Coris to defer. Even then I expect a raise would be required. But when has anything ever gone to plan for HUM. It's not for me!

It's alright guys, we can disagree. That's what makes the market and the shares are up this morning. Clearly the market agree with you. I can't think why because I think this is going under!

Debt was repaid and they are out of money. So they couldn't pay Corica. Raise or administration incoming. What an absolute dog. The jam ahead this time is "we just did a blast and are at the high grade, honest". Glad I am out of this one.

Saw that and just assumed it was a raise. Not this time...

I wonder what is going to go down after the delist. Clearly some funds need to be raised, but a buyout wouldn't surprise me. If so, I wonder what price you guys will get. Recent buying action suggests a premium to the current price.

Might not be a biggy, but someone was clearly selling out in chunks today. Might explain why the share price is much lower than I think it should be. Perhaps this presents an opportunity...

I feel sorry for you Moniman. I assume you've just lost a packet on this and have been left a little jaded. You shouldn't take out your frustrations on other people though. It won't lead to a happy life.

Should be just about net debt free I would have thought.