Member Info for Punter64

Yep - terrific! If you call more abject news in relation to q3 results terrific you need your head tested. Betts has made it pretty clear by the complete absence of comment about q3 (instead looking towards improvements in q4) that they will be disappointing. Open your eyes Mostyn. How can they not be disappointing when Kou production is still below 60% and the rainy season impacting both mines. Yes, q4 could be better but that is certainly not a given, particularly as full commercial now looks set for 2025.

Keep in mind that commercial production is only 60%. You can bet that full commercial production won't happen until 2025 and possibly quite a way into 2025

The clue is in the RNS.. They are not producing enough ounces so the aisc will continue to be sky high. Simple maths. Remember the aisc was $2598 in the last quarter and the rainy season during q3 was the worst for years.

HarChris, do you mean more jam tomorrow? With the track record here you can't believe any of the predictions. They are clearly struggling to make any of this work, despite the record high gold price. Unbelievably bad.

Mostyn you can't see the wood from the trees! Q3 will be loss making. What was your ramp fantastic prediction? Remind us all!! How's the rocket launch going?!

Yep! Terrible performance again. That 4p placing is still very much on the cards.

A hint - most past presentations haven't forecast the actual subsequent reality and have painted an unduly rosey picture. The reality is that Yan is a spent mine and all of the easy ounces have been extracted, whilst for whatever reason they are struggling to make Kou work. Furthermore they have agreed to sell Dugbe for peanuts and they will be left with reserves of just 1 million oz split between two mines (ie they are a mining minnow!!).

"Looking ahead, our priority remains on delivering profitable production and value for our shareholders. With Kouroussa nearing commercial production and the ongoing optimisation programme at Yanfolila, we are confident in delivering improved production in the last quarter of the year."

Oh dear, old Danny Boy is preparing you all for the disaster that q3 will be. I have been telling you that losses will be piling up and that statement effectively confirms it. More jam tomorrow being promised in q4. You couldn't make this up. Get out whilst you still can. Kou still not even at commercial production (60%) let alone full commercial. Comically bad.

How's the rocket launch going Bushy?

Dan Betts was one of the few people who didn't see the big gold price rise coming. The hedge was a stroke of genius. No wonder this outfit is heading for the abyss!

It won't be x $1000. Nothing like it! The aisc for q3 will be much higher than $1600. And don't forget a lot of it is hedged at $2070. Kou simply not producing enough for the low aisc you hope for and Yan likely still to be a basket case due to going underground and the worst rainy season for years. Dream on!

Https://www.visualcrossing.com/weather-history/yanfolila/metric/2024-07-01/2024-09-04

Https://www.visualcrossing.com/weather-history/yanfolila/metric/2023-07-01/2023-09-04

Err no it hasn't there has been far more rain this rainy season than in any of the last four years. Over 800mm compared to 300mm last year!

Let's not forget that due to the genius of DB most of the production is hedged at $2070 per oz. Best not to forget too that the aisc at Yan last quarter (when it was dry) was $2578

The only thing that matters is the aisc. With a bad rainy season this year and the company producing far fewer ounces than forecast, the aisc will be higher than forecast (simple maths). The question is, how much higher than forecast?

Kou was 1200 pw in July not 2000.

Goldinvestor7, I agree that there must be something wrong at Kou. They are still not at 60% production after 14 months. Even with the excuses they have had with the oil shortage and strike action that performance is too bad to be true. I think this is proving hard to mine efficiently for one reason or another. Let's see!

He talks a lot more sense than you IMHO.

I'm surprised that you are surprised about the reaction to the Dugbe news. It was a poor deal probably brought about by the parlous state of HUM's finances. It barely makes a dent in their debt mountain and has taken away two thirds of their reserves/resources. A company with 1 million oz reserves split between two mines isn't going to be valued highly irrespective of what the rampers on here believe.