Member Info for Raptor_Fund

Yes "voluntary living on site" does have a vaugely Orwellian ring to it.

I hope they treat those workers well and reward them for their dedication. Good bonuses and support for their families through the lockdown at the minimum.

Investors don't have to be assuming the NAV will rise. It could reflect the difficulty of going and buying your own diversified renewable energy portfolio, the attraction of owning an ESG asset and crucially the relatively stable inflation linked return. Rising inflation and natural gas prices (often the marginal extra cost of electricity) might raise NAV). As for the SNP nationalising power, haha, I think someone's been drinking too much from the Daily Mail chalice (for reference I don't support the SNP or independence).

Thanks RTN :)

Link to article on licences?

In terms of security risks.

I believe the South (where the mine is located) is regarded as less at risk from Islamist attacks.

The protests could lead to civil conflict, coup or a new government, or the current government looking for political gains. Taking control of foreign natural resources might be the result of any of those developments, but consider that the French have big influence in the country due to their military presence and they probably wouldn't like that . More likely extra taxes as a bad political outcome. I really don't know enough about Mali politics who I would support in the current protests.

Covid: The ratio of deaths to cases in Mali suggests that many cases are going unrecorded. The importance of mining to the Malian economy will probably mean that disruption to mining in any further lockdowns/curfews is limited. Hummingbird is likely to be able to protect their staff, and perhaps even buy in their own testing

AW2124 -Three things to consider if you decide to ask the FCA to investigate.

i) You should consider/make sure that Hum won't use it's money defending Betts before doing it
ii) If you think it is beneficial to HUM share holders for a FCA investigation to be carried out you could ask for further signatures from PI boards and from large IIs
iii) Please post Hum's reply to your original letter

"If he devotes his working life to the company he deserves to get rewarded". - In real capitalism, the shareholders should be rewarded, he should be rewarded based on a proper and fair remuneration policy voted on by the shareholders.

This 39% stake is an example of managerial capitalism, where the profits accrue to the mangers rather than the owners of capital. The government need to legislate to allow shareholders to have binding votes on remuneration, to develop a cheap mandated way of allowing PIs holding shares through platforms to be able to vote and to encourage IIs to challenge these deals. I am kinda shocked this type of RNS can happen. Then again it is AIM. Also It is true that 50% of something is less than 100% of nothing. But if the project is improved so much by $12 mil dollars, why not do it ourselves?

One more thing. Anybody realise on of the board of ARX there is someone who used to be a director for Goldfields, the company who owned Yanfolila before HUM. The Bunker Hill director was also linked in a weird way to Hum or goldfields [I think I remember].

That's not really accurate tho because that reflects moving off the Bretton Woods agreement (that had gold dollar peg)

In today at 67p

Did these calcs for possible returns for different sale price of the property. These take into account the 49% gearing and the management fees (not any other costs), but not the management incentives. I assume that the properties take an average of 2 more years to offload. At 60% of valuation the CAGR is -29% for each yearAt 70% of the valuation the CAGR is -2%At 80% of the valuation the CAGR is 26 %At 90% of valuation the CAGR is 45%At 100% of the valuation the CAGR is 63%

Don't see why Residential Secure Income REIT isn't a better buy than Civitas. Civitas have loads of financially dodgy housing associations onboard. Whereas, RESI has Places for People. One of the highest rated housing associations. If you want long term stabillity it's better to have stable counterparties. Oh and RESI trades on a larger discount.

And yes market share should be taken with an extreme pinch of salt. Think about the massive brand names in this market, and the strength you need to drive that name recognition. But I think as a treatment for those contraindicated for PDE inhibitors. That's got some currency. However, the phase 3 trial excluded lots of co-morbidities, so safety the data from phase 3 will may not convince doctors to prescribe it.

Anyone link me the clinical data presentation for the MED3000?
Or if they know there's a paper of the trial results FM57 yet? [had a quick search, couldn't find it]

I'm a medical student with some spare time now all of my placements have been cancelled . Thinking of adding this to my portfolio, but I wanna know if it the phase 3 is legit or just the normal screwed around pharma BS.

I'm a long suffering holder. Thinking of adding more but two thoughts:

1) Value of proven resources - debt is about £200 mil (at 500 dollars average gold profit per ounze forwards for 5 years) That's less than 20% cagr on current mcap. Obv it could be nearer £360 mil if current gold price sticks.

2) Will there be a lockdown in Mali that prevents mining? Cases still seem to be rising in Bamako and in neighbouring countries. Could this lead to Hum getting more into debt.

Don't think that can defer much dividend. REITS have to pay out 90% of their income to comply with laws governing them.

Tbh, Gold is valuable enough to be flown out. Unless there's a full lockdown of Mali's borders they can do it. Import of equipment or repairs might be harder. But the government's still gonna want all they're tax tendies from the gold mines. During the 2009-14 mineral boom it was even economical to fly tin ore out of some mines!

Don't think anyone has mentioned that RGL is split into a few smaller Limited Companies with some of their own debt. Plus debt at a group wide level like the 4.5% orb bonds. This might lead to parts of RGL to break debt covenants whilst other parts do not.

Not saying this is a good or a bad thing for the company. Just a comment I haven't seen yet on RGL

First post on this for ages. Still own small amount of HUM. Now they're producing properly I'm hoping they use their money wisely (first debt, then a big divi would be great) [better than I did buying HUM to begin with]. Tie up with Cora, might make sense as well.

To me this is the perfect time to start buybacks. It must be pretty difficult to find any mines out there that have a better implicit ROI than their/our own. There is meant to be some legal process to do this. Does anyone know how that's proceeding. Also please email Investor Relations if you agree with starting buybacks.

I don't suppose anyone else saw the advert for Yanfolia Gold coins in the telegraph?

Well hopefully they've learnt their lesson. I bought a speculative gold mine, not a speculative debt fund. I would like to see cash flow being used for buybacks, dividends and supporting Cora if necessary.