The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I think the last year has been tough for HUM partly through no fault of their own and partly due to bad decisions so would expect as much good news will be issued before the AGM (possibly that morning) to steer the AGM towards the good news and away from the bad issues, be interesting to see if those shareholders in attendance allow that to happen (if able to influence the proceedings at all), sadly won't be there myself.
so at 3.85p selling somewhere around 5p makes a 30% profit, wouldn't be surprised for some selling from those that purchased in the placing, would make sense to do so if a large holding
What was the recent placement price was it 5p or 3.85p?
Interesting times ahead either way for CORA. Either the HUM link comes into play big time or it benefits from the increase in gold price if the drilling results remain good.
gold and oil seeing a big increase overnight, tensions between Iran and US increasing, good times for commodities but maybe not for the world!!
I would expect the LOM extension RNS to be issued on the morning of the AGM although no reason why it can't be earlier. Friday's are not normal RNS days so that only leaves 3 more working days till the AGM I think.
How good would it be for a slightly early spud, it's rare from what I can see for dates/deadlines to be improved upon in fact normally it can be a bit later so would be good to go on the early side.
LSE showing only about 25 trades with no real HUGE volume but the share price is up over 8%, imagine what will happen with much bigger volumes? News just around the corner, Q2 figures following LOM news (by end of Q2) could be better times ahead.
Not my post, that of Redtrend, just posting here for interest.
Zhockey - mine life was 7 years, with 5yrs forecast for LoM extension with higher grade Gonka.
So now you're probably down to 5.5yrs (maybe bit more as production has been lower than forecast due to various technical issues) and a revised LoM plan is due sometime in June. Whether it will include full 5yrs extension or in steps not sure. I wouldn't expect a full 5yrs straight off, who knows.
Separate to Gonka and more long-term, there's other exploration potential at Yanfolila, further afield you have Cora exploring relatively close by and you also have AGG (2.2m Oz resource, listed on TSX) which HUM nearly reached an agreement with a while back. HUM were right to back out of the AGG deal, but longer-term it's definitely a potential acquisition target and the AGG feed could then be trucked. AGG has collapsed to circa £5m market cap in total and don't see how they could survive alone. So perhaps later HUM can poach them up.
But short-term the HUM Board have a lot to sort out and prove, hence the low sp. So whilst I'm invested, it's hard to recommend at present due to the high risk. But of course as it's high risk, likewise the sp is heavily discounted, so potential for high reward in event HUM can sort out the myriad operational issues, which one would hope are a thing of the past.
So I assume most potential investors will wait for LoM extension update and Q2 Quarterlies in July. Sustainable Capital seemed confident enough to increase their holding to 12% at the 14p mark.
If the news flow is under the remit of Giles Clarke we might not hear anything till mid July when the cricket world cup finishes as no doubt he will be busy sampling a fair bit of corporate hospitality between now and then (I hope the Amerisur accounts team keep a close eye on his next set of expense claims!!).
Frank a solid Q2 and Q3 plus a decent LOM extension and then the ball mill being in place and from the end of this year I think we could see some positive movement but in the meantime the BOD buying some shares would be a great message.
Seems the II’s trust Dan as they are still buying. Single asset company, with a relatively short LOM waiting for a new increased LOM, with production issues recently is why I suspect the SP is on it’s @rse personally! Management performance has certainly left a lot to be desired but only one factor and for me not the biggest issue.