Member Info for Swatton

Does anyone know what the gold grades are they were meant to be mining this quarter? I get they are better grades but does anyone know how much better?

It may have been possible if the issue had already been sorted at the start of q4 but we are nearly 1/3 through already and the issue isn’t sorted. So I don’t think it is possible to achieve the annual guidance

I think for me the concern is that there is no clear indication that the issue is resolved. So nearly 1/3 of the way into the quarter without resolution. They aren’t going to meet the annual guidance and I think they know it. That’s galling for me.

Can't seem to buy any at all at the moment!

@SR123 could you post a link to where you are following the Ukranian gas prices please?

I think net cash will be a bit less than that to cover off the difference between the current assets versus current liabilities as per H2 report. It could be as much as net cash staying the same if they clear a lot of the liabilities. Assuming they are payable this quarter that is. Just preparing myself…

Anyone else finding the lack of news a bit disconcerting? Been over a month now and I’m surprised there’s been at least no drilling / kouroussa update. Just hoping they aren’t storing up some good news announcements to hit the market after a bad news announcement for Q3 update!

Thanks BushyTailed. That is really helpful. When you say the ASIC drops away like a stone I am assuming that is because they are using the ore in the dam as opposed to mining new ore and hence don't have a contribution to the actual mining of the ore? Also do the capital costs of creating the storage dam get incorporated into the ASIC calculation somehow or is that cost on top of ASIC? Thanks again that is really helpful.

I agree and your analysis was why I invested in Hum and gold miners. I am, however, beginning to wonder how much of this has already been factored into the price of gold and the price weakness in recent months is the slow realisation that things are not as bad as first thought. I hope not!

Thanks Bushy. I’m new to mining and not sure what they are or what they do. Would you be able to explain? I assume it’s a one off capital expense.

Yes but. If you look at the last set of accounts they posted at H1. Total current assets £43.6m. Total payable/accrued current liabilities £50.6m, which is a big jump £11m on the previous set of accounts. Anybody hazard a guess what that is all about?

I don’t really know how to read the drilling result to get the quantities of gold. Can you give some rough calculations. I get 40m x area gives the volume from which you can calculate the amount of gold but what do you assume the area is?

Just to remind people of this Vox update on the 26th April. From about 6:30 into the video. Dan says debt financing with internal cash flow from Yanfolila. Also at the start of the video Dan is asked what will Hummingbird do with all the cash it is generating when it is debt free. He says clearly it will be used to develop other projects.

https://www.youtube.com/watch?v=w_eaMCy0vbw

Honestly I think we will see an RNS out on Friday or early next week about the Kouroussa project. I am betting that Dan is waiting for Q2 to close before he spends cash on closing the Cassidy deal. So once that is done (maybe tomorrow) we should get an update. Hopefully...

Can anyone let me know if AISC includes finance costs? i.e. does it include the interest payments on the capital finance to build the mine. So now they are debt free will this help reduce AISC?

Why makes you believe they have issues on one of their mines? Can you post a reference please?

Regarding the Cassidy share issue. I am wondering if they will actually pay them in cash sometime in July? Could we get an announcement for Q2 in mid July saying that cash in hand is over £10M and then a cash deal with Cassidy? I am surprised by the delay in not updating the market so I don’t think it is administrative issue. Not sure it could be a big renegotiation as I would have expected that to have been completed by now. Could be a selling of the entire project to a third party but wouldn’t they have had to update the market on that? So a change to a cash deal does make sense to me. First update the market on a good Q2 with good cash flow and no debt. Then announce a cash deal Wu Cassidy? If that were the case it could put back by one quarter the start of the build but it wouldn’t mean a share dilution. Thoughts?

We will get the next quarter update. At the last update the company had a net cash of $4.9M a debt of $4.6M.

§ Gold poured: 22,781 ounces, average realised price of US$1,788 per oz with an ASIC of US$1,494 per oz. That is equivalent to cash generated of $294 per oz.

We know that Q1 is going to be the worst quarter with improvements in amount of gold poured, ASIC and probably average gold price. So what are people expecting? Say the amount of gold improves by 5% to 23,920 oz, average gold price increases slightly to $1825 and ASIC reduces slightly to $1450. That would make cash return of $375 per oz or nearly $9M.

So at the end of June where will the company be in terms of cash? Around $13.9M with no debt? What are peoples thoughts?

My take is that if I were Sustainable Capital I would have told my brokers to get rid of all the remaining shares after the RNS today. I purchased a load more today and they went through as sells. As of 10th May SC had just of 9 million shares and with the volume today and the last few days I wonder whether this might be the last drop down before the overhang clears

Anyone getting a little nervous about the lack of licence for Kouroussa? Dan Betts went to see the Guinea mining minister last week. To go all that way in the middle of a pandemic was either going to be good news publicity related or to try and resolve an issue with the licence. A lack of announcement following that trip would suggest the latter? I do hold a fair number of shares but starting to get a tad twitchy about this.