Member Info for Punter64

Even the resident ramper now accepts that Q3 will have been a disaster with losses piling up. No one is going to risk lending this shower any more money, so the next step is a placing.

Rocket Man, don't try to make out that the need for financing is done and dusted for your own ends. Dan Betts has just put this out yesterday: "While Kouroussa's ramp-up has been affected by various unforeseen factors, we are focused on reaching commercial production in Q4-2024. Whilst we are confident of commercial production in the coming quarter, it is dependent on us and our partners delivering meeting our production plan and expectations Our focus remains on sustainable growth, securing additional financing, and completing leadership transitions "

Note the 'securing additional financing' part!!

Don't go digging another hole for yourself Rocket Man! You've caused people enough misery on here as it is.

Kou is not a lower cost mine until such time as they hit full production which won't happen until well into 2025 - that's assuming this hasn't gone private before then.

A pointless tit for tat. All will be revealed in Q3. They lost $29m in Q2 and they will have lost money in Q3 IMO. Let's see who is right.

They are losing money mate - hence the need to keep borrowing more. Its not rocket science. None of us has a clue what the aisc is because Betts hasn't once informed us of what it actually is rather than fictitious predictions that never materialise. But as they are still constantly losing money the aisc is obviously sky high. Whilst you are producing almost half of the supposed full run rate (probably never happen) the aisc is going to be much higher than the (probably fictitious) headline aisc forecast for the full production rate. Simple maths. Not long to wait to see who was right and who was wrong when the Q3 results are published. I look forward to seeing the RNS (whilst will be another Betts catastrophe).

I've already explained this to you but as you are struggling to comprehend I post it again: 'BPat, get a grip mate. Do some research. Commercial production is 60% of full commercial production. They haven't announced commercial production so they have not hit 60% yet. It depends whether they are using 100k oz pa or the planned first year or two of 120k oz pa but both scenarios equal 15k oz per quarter or 18k oz per quarter at 60%. They are not at 60% yet so it will be either less than 15k oz or less than 18k oz. So, keeping in mind that July produced 4800 oz (14,400 for q3 if replicated for the three months). Clearly ramp up is preceding at a snail's pace and it is evident that something isn't right. Whatever the reason for the extraordinarily slow ramp up it should become clear when the Q3 results are published along with DB's list of excuses. My bet (based on the comments from IR) is that they can't afford to hire enough equipment to do the job properly).'

Of course production might have edged up from July's 4800 (i never said it hasn't) but not by much because the max is either 15k oz per quarter or 18k oz per quarter depending on whether they are using 100k oz pa or 120k oz pa. The figures will be less than that because they haven't hit 60% yet. Furthermore, they are making a loss regardless because the low production figures have resulted in an aisc that is much higher than forecast - hence the need to raise funds on multiple occasions.

BPat read the RNS fella. '"While Kouroussa's ramp-up has been affected by various unforeseen factors, we are focused on reaching commercial production in Q4-2024. Whilst we are confident of commercial production in the coming quarter, it is dependent on us and our partners delivering meeting our production plan and expectations Our focus remains on sustainable growth, securing additional financing, and completing leadership transitions to ensure the successful delivery of our ambitious growth objectives to deliver 200 Koz pa of gold.'

It is clear that they are still some way off commercial production (60% ) and have pushed it back from Q3 to Q4. Furthermore, there is a clear lack of confidence that it will happen in Q4. As for full commercial that won't happen until well into 2025 if it happens at all. This is an unmitigated disaster.

'Bushy? I suspect is whole life is defined by his rocket launching prematurely, leaving all involved with a sense of disappointment.' Haha, brilliantly put DB.

When will you learn that the aisc is the only thing that matters?! They are losing money you turkey, hence why they have just borrowed vast amounts of money (again) and why they are looking to borrow more in the near future (if anyone is dumb enough to lend it).

CLEWless you are mistakenly believing in the supposed quality of the assets. Let me tell you they are not quality. Yan is virtually a spent mine and HUM are now in the process of attempting underground mining (on the back of insufficient drill testing) something in which they have no experience. It is very likely to be hugely expensive. It is also clear that the Kou resource, which is very fragmented in high grade sheets, is proving impossible to mine as efficiently as HUM anticipated. This situation is unlikely to improve much. If they can't do it after 14 months they won't be able to do it going forward. Furthermore the reserve is tiny at both mines and they can't afford the drilling needed to expand it. Catch 22.

How are you getting on with your policy of filtering the 'trolls'? Too arrogant to listen to anyone else because you knew you must be right? Maybe you might have learned a lesson but I doubt it, lol

BPat, its coming, don't worry about that.

Bushy, will that be the commercial production RNS you promised us was coming this Monday?! I hope you have one of your rockets primed to mark the occasion but you might be better off putting them in storage now!

I give you credit for always being a voice of reason.

David, do you think someone with Bushy's ego could ever admit to being wrong?! Perhaps when this inevitably goes under he might put his hands up, but I doubt it. No doubt he will be telling us in that situation that he bailed out with a profit a long time ago. I feel sorry for people that have been suckered in by this guy (and others).

I wonder what bombshell Old Danny Boy has in store for us in the coming few Fridays? Once his exploring other non-dilutive avenues to more finance hit a brick wall!

Because they can pick up the asset for buttons. Seen it before with Sunkar and Baobab. Both were taken private for rock bottom prices and shareholders were left with massive losses.

Good luck with that. Why would anybody have your corner? The big players will get the best they can from the wreckage and shareholders will be left high and dry as always. This has been a massive gamble for months now and the gamble has back fired. Those in the firing line can't say they weren't warned.

Anyone seen one of Bushy's rockets?!

Remember this one of yours from a few days ago?!

'Punter: “No improvement in Q3 is happening”

Certainly not to the quality of your insipid posts..

Textbook deramping tells holders we can’t believe anything the company say and then cherry picks the parts you apparently can.

No admission from our resident troll that Kouroussa ramp up had reached a monthly rate of 4,800 ounces in July, a sizeable improvement on last quarter.

Most shareholders here have realistic expectations of lower end guidance and that expected group production of 30-34koz in Q3 is an improvement on the 20k produced in Q2.

This 60% commercial production comment is a rather baseless statement and only inferred rather than verified but even if true and Kouroussa production reaches a monthly rate of 6koz post-end of September that is still an improvement on July’s 4.8koz and the Q2 monthly average of 2.6koz 😆

And just to add undoubtedly profitable. So beginning Q4 Kouroussa is producing at a quarterly run rate of 18koz and expected to continue rising through the quarter. Q4 was always going to be the best quarter in terms of production and cash generation.'

Er, yep undoubtedly profitable!! Is that why they have just taken out a massive loan and are currently exploring more ways to raise finance (on top of a possibe Dugbe sale).