Member Info for ViciousHippo

I disagree. They've done the restructuring, EBITDA to go higher "at least £3.5m" on lower revenues. I think we've gone through the low point. I could expect a 20% increase in SP from here.

@Nofear the dividends from subsidiaries always go to the parent company. A parent company never automatically passes dividends from subsidiaries to shareholders. The parent company may or may notmake a dividend payment of its own, taking into account all the business factors, including managing group debt, using the money for investment elsewhere in the group etc.

Dividend payments from subsidiaries do not go to the Board of Directors. The BoD are remunerated based on the company remuneration policy. This is voted in by the shareholders at the AGM

Call me a cynic but I would propose the reason why it went down on good news is the following. The good outlook means share price is headed higher. To load up on more shares on the cheap, the traders/ market makers smack down the share price to trigger stop losses, releasing shares that can be hoovered up for a juicy profit. Just a thought.

This share has been moving sideways (with volatility that is steadily decreasing) for two years now. The drop from the IPO was swift and uncompromising, meaning that the market never thought the share was worth what it was IPO'd at. So basically the IPO was a scam.

It is unbelievably short -ighted. Yes you make a quick buck at the expense of others, but in the long term there is more to be gained from IPOs that result in rising stocks and happy investors.

Whatever you think about the management, it is actually quite difficult for Hummingbird not to succeed with the current gold price!

Newswire is an example of the changing narrative, encouraging ETFs to join the party

Gold futures are up 0.3% at $2,353.8 a troy ounce, holding steady as ETFs start wading back into the market. The precious metal has bounced back after being caught in a wider metals market sell-off, as traders booked profits and U.S. labor data raised growth outlook concerns, SP Angel analysts say in a note. Exchange-traded funds, or ETFs, added 46,000 ounces to their holdings yesterday, reducing net sales in the year to date to 4.73 million ounces, SP Angel says. "ETFs are now likely the primary catalyst for bullish gold momentum going forward, with a further slide in [U.S.] Government yields expected to push safe-haven investors into bullion," SP Angel says. Chinese gold buying also appears to have steadied, and persistent geopolitical tensions should encourage central-bank buying, analysts add. (joseph.hoppe@wsj.com)

The narrative is changing for sure.

Having apparently broken out over the 200 MDA and downward triangle, it has finished below the 200 MDA again. This stock is hard work!

It could be all pointing to a fourth quarter bonanza - ore sorter up and running, more volume, lower AISC, higher gold price, lower Brazilian currency costs, and if the stars are really looking down favorably, a full license.

Obviously not all of that will go right, but you can see there are many tailwinds, any of which will bump up the performance to another level.

Thanks for posting this @xavik. Very informative.

Interesting they don't mention Ingenuity at all. They've given up on the idea this is a tech company.

I believe we will get to £1.25ish by July-ish. What happens after that will be down to many factors, including Ingenuity.

@Gavster To expand on my earlier post, the Board have made distributions (dividends and sharebuybacks) to shareholders in the amount of $93m that are illegal. They got their accounting of their reserves wrong on the forex movements.

The consequence of the Relevant Distributions being made otherwise than in accordance with the Act is that the Company may have a claim against all shareholders (former or present) who received any such distribution (up to the maximum value of cumulative distributions received by each shareholder from the Relevant Distributions) as well as a claim against all Directors (former or present, individually or in aggregate) who approved the making of the Relevant Distributions, up to the total aggregate value of US$93,384,863 in respect of the Relevant Dividends and in respect of US$ 3.222 million (equivalent to approximately £2.55 million) in respect of the Buy Backs.

Missing dividends in "illegal dividends"

The Board have messed up by inadvertently paying illegal and could be personally liable for the rectification of the situation. Someone (CFO?) will be in trouble.

It says "prior to" an offer. That doesnt mean an offer is on the table. It means what it says - there is no offer, but they are seeking them.

Finally...? It's broken out of the downward wedge. Technical £1.25 target

The indigenous peoples want to extract a good deal for themselves and perhaps with a bigger project the government would push things along.

The problem is most likely that serabi is a small company and no-ones priority.

Geezer are you not ignoring the profits from Palito. Let's assume worst case with Coringa limited to three years, they should be able to mine at least 150k oz over the next 6 years. At current POG and AISC at around $1500-$1600, that still gives you a profit over $100m.

I agree with Harchris' analysis. The next six months will determine whether a long term licence will be awarded. If it is Coringa can be fully developed and the company will be worth a lot more. If the licence is not awarded, the company can still run for (just under) three more years at Coringa and exhaust the Palito mine (six years or so) and generate cash (for dividends) well in excess of the current market cap. So although the next six months are pivotal, it remains a good investment whatever.

What 2.5 months are you referring to? The Coringa operating licence was extended by 3 years in January