Member Info for Punter64

If its all going swimmingly like you suggest, why is Betts looking for more funds on top of the $30m recently added to the debt pile? It should be obvious. There are none so blind as those that will not see.

Bpat, you keep failing to take into account the worst rainy season for years! Harry Hill alluded to it in the phone last week, saying that the pit was only just starting to dry out. Not long to wait before you realise the hard truth about what actually has been going on.

Bismarck don't forget that Betts has already announced that he is actively seeking further funding avenues, so the next Bombshell could be a placing. I really can't see that banks will be willing to lend this shower any more money - they look maxed out now.

BPat, the aisc is the main consideration. I agreed that production could be around 15000 at Kou before I heard about the mill relining, so it will now be less. Remember Yan produced 12065 oz in Q2 with an aisc of $2598. Kou looks like being a similar story in Q3. When most of the production is being sold at the $2010 hedge price it doesn't cut the mustard.

I wonder whether the next Betts Bombshell is dropping tomorrow, Seems like peeps have got wind of something bad?!

BPat what are you talking about mate. What is the aisc? That is the only figure that counts. Q2 at Yan was $2598 per oz!! And that was before the rainy season!! When you produce far fewer ounces than forecast the aisc soars. The pits have been sodden by a bad rainy season and there has also been the delay caused by the mill relining. The reason they are looking to raise more funds on top of the fire sale of Dugbe is because they are losing money.

Remember how Rocket Man and the other rampers have been promising millions in profit quarter after quarter. It hasn't happened and probably never will.

BPat, losses have piled up in Q3 as you will shortly discover. I admire your optimism though.

Someone has got rid of 1000,000 at 6.05p (below the bid). Not good. 5p here we come!

AS soon as commercial happens they will rush the news out. They need any sort of 'good' news at this time. I repeat it was said to be a possibility by the end of Q3 at the presentation. What is causing this interminable delay? There seems to be some underlying issue here.

Goliath, at the recent presentation we were told to expect commercial production by the end of Q3. Where is the RNS? Just another missed target which this company is notorious for now.

Still no commercial production RNS? What is going on?

IWantthatONe, The extent of the Q3 losses is important. Don't forget that HUM is still exploring further funding avenues according to DB, so the size of the losses will determine the size of the funding. There are two Betts Bombshells heading this way, the Q3 results disaster, quickly followed no doubt by the further funding news. My money is on a placing because I doubt whether he will be able to borrow more money given the ongoing poor performance of the mines.

I see old Rocket Man is still promising jam tomorrow! Dear oh dear how wrong can you be over such a long period of time. Where is one solid quarter coming from? Q3 has been a disaster and the way things are going Q4 will be less than forecast too. There is still no sign of commercial production (60% average over three months of nameplate) and we know from the presentation a few weeks ago that full commercial isn't happening until 2025, if at all. Furthermore Yan is now a busted flush. A fund raise is increasingly likely.

'cLEWless' er, no I am not the same person - I don't post on advfn. .I thought I was filtered or have you realised it is best to read my posts as I seem to be calling this more right than the resident rampers?

Anyone buying now just before the next Betts bombshell is dropped needs their head tested! Whilst people on here might now be expecting the worst the wider market will be astonished by the likely extend of the losses wracked up in Q3. I have a 20%+ drop pencilled in when that beauty hits.

Without a doubt a new CEO could improve things here but even if that happens those improvements are many months away. I think people are over stating the 'quality' of Kou and Yan. Both have small resources and Yan is now almost a spent mine. Most of the easy ounces have been used up (and they could barely make that profitable, after build costs). They are currently attempting to commence the more expensive underground mining but have they done the necessary drilling or is this another Betts wing and a prayer job? In my view Yan will be a mill stone around the company's neck. And what about Kou? Still no sign of commercial production. What exactly is going on there? It really is reaching the point where you have to question whether this will ever hit nameplate (still not at an average of 60% production after 14 months). HUM is broke currently and couldn't even raise the funds to participate in the Pasofino fund raiser (should have been a no brainer) and if they can't improve production very very quickly then there is every chance this goes into admin. You've been warned.

Goldinvestor7, you are spot on with those comments. Buying more shares in Pasofino's fundraiser should be a no brainer for HUM, particularly as Dugbe is due to be sold imminently meaning that there would be a quick return for HUM on their investment in the fundraiser. The fact that they are unable to participate is a massive red flag. They clearly have no funds available. This could well be going under in the near future.

Oh dear, still no sign of commercial production despite it supposedly happening by the end of Q3. They had better hurry up or Q4 will be a write off too. It also says it all that HUM don't have the money to participate in the Pasofino fundraiser. What's the betting that the Q3 results bombshell is dropped before commercial production is finally announced?!

Rocket Man there are two hopes of this shower getting the gold out of the ground profitably - no hope and Bob Hope. The only way is if a new CEO can finally run this competently but it will be months before he/she is put in position and has the time to put in the necessary improvements. In the meantime the next Betts Bombshell (Q3 results) are hanging over this like the sword of Damocles!

'So you’re saying hum is currently valued at circa £24m and Dugbe at £30 to give us a share price around 7p'. 'cLEWless', I make it £55m, £30m and 6.75p, but yes that is how the market is valuing HUM currently but likely to be far less after the Q3 bombshell is dropped. Keep burying the head in the 'ramper's sand'.