Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
tones777 - thanks! Yes, those are numbers no HUM investor wants to see.
I agree the company looks way undervalued for its assets and ability to produce cash (always has done) and I continue to hold, but it just feels like they're in this position more by good luck than good management, which obviously causes some concern. If the POG had remained relatively static since the mine was completed there'd be very little cash generated and in all likelihood HUM would be a loss making operation. It seems HUM have been somewhat fortunate with the increase in POG and it's got them out of a potentially sticky situation. Hopefully POG will hold or increase going forward, HUM can get a handle on costs (seems more than likely given the current climate) and value will be realised eventually. Progress at Kouroussa and Dugbe should push that value up but I see that being a little while into the future. I must admit, when I bought these in 2016-17, I thought they'd hit Β£1 within 2 years. Amazing that, after building a mine and producing gold for 3 years, they're worth less now than when I bought them. Never saw that happening!
Long time holder here (pre mine build). I have a small holding here compared to most but one of the main reasons I invested here was the fact HUM was marketed as being a high grade, low cost producer. I looked at the pre-mine AISC forecast ($695) against the then gold price ($1200-$1300) and, like most on here, saw this as a good investment. Since the mine was constructed the price of gold has obviously risen considerably so, based on the initial AISC quoted pre-mine, the company SHOULD be producing some stellar numbers and we should all be happy shareholders sitting on handsome paper gains. However, the AISC just doesnβt seem under control and never really has done. That is obviously one of the main discussions that has featured on this board since the Q4 results were released. So just for fun I thought Iβd look up a few figures to see how the company has performed in terms of hitting AISC targets since the mine started churning out gold.
Here it is for those of you that havenβt already done the same:
Pre Mine AISC Guidance - $695
Q1 2018 β No AISC quoted (mine ramp-up)
Q2 2018 β AISC $790 (13.7% over guidance)
Q3 2018 β AISC $1006 (44.7% over guidance)
Q4 2018 β AISC $1677 (141.3% over guidance)
2018 Year Overall β AISC $1087 (56.4% over guidance)
2019 AISC Guidance β$825 (avg.) (18.7% increase on pre-mine guidance)
Q1 2019 β AISC $1297 (57.2% over guidance)
Q2 2019 β AISC $998 (21.0% over guidance)
Q3 2019 β AISC $849 (2.9% over guidance)
Q4 2019 β AISC $839 (1.7% over guidance)
2019 Year Overall β AISC $976 (18.3% over guidance)
2020 AISC Guidance β$873 (avg.) (25.6% increase on pre-mine guidance)
Q1 2020 β AISC $875 (0.2% over guidance)
Q2 2020 β AISC $983 (12.6% over guidance)
Q3 2020 β AISC $1283 (47.0% over guidance)
Q4 2020 β AISC $1496 (71.4% over guidance)
2020 Year Overall β AISC $1147 (31.4% over guidance)
2021 AISC Guidance β$1300 (avg.) (87.1% increase on pre-mine guidance)
Iβm sure many questions will be put to HUM by the newly formed group on here but one thing Iβd like to know is why the current AISC guidance for 2021 is 87% higher than the pre mine AISC guidance given only 3 years ago? Did they simply get their forecasts that wrong?
Can anyone shed any light on this for me? As far as I can see the company has just under Β£400k in the bank. It has no investments or cash producing assets and has no real means of earning revenue. A "strategic investor" may invest in the company (no guarantee that will happen) and it is valued at around Β£3.7million by the market, which appears to be around 10 times it's true value. Am I missing something here? Why do people think this should be trading at the 30p mark?