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What's frustrating is that the contract was not nailed down right enough when it was being negotiated, to such an extent that contractual disputes could be avoided, or not clearly and easily resolved
Pure speculation
Even the best management team can't always be expected to deal with unforeseen problems like the weather and fuel depot explosions.
You would think however that issues that should be entirely within the control of management such as contractual terms and obligations would be tied down well before now!
Contractual disputes are certainly more of a concern for me. Let's hope it gets resolved soon and Corica get back to work soon.
Thanks for sharing this Goliath, a good presentation. I'm pleased to see DB marketing the company, which suggests that he is feeling less in need of keeping quite such a close eye on day to day operations as Kouroussa is now at nameplate capacity.
Hopefully his trust in operational management is well placed.
It seems that DBs attention is now increasingly going to shift not only to debt reduction and strengthening the balance sheet but also towards how and when Dugbe can be brought into production.
Thanks on target, that was a useful interview. DB looked much more relaxed and it's great that he's raising the company profile on Cape Town.
I was also interested to hear that projected ore input from Yan underground mine is 50% by 2025.
@ Guvvi @ Dragons13, agreed, the presentation was dire, very little there that could not be gleaned from reading the RNS. They also ignored both my questions regarding the split of production at Yan between underground and open pit, secondly about costs of site safety and protection
Let's not forget that DB, and probably his team, have more invested here than just their money. As has been mentioned, the Betts family has been in the game for a long time so he's got family reputation at stake.
DB's vision of Single Mine Origin and excellent ESG credentials, fully compliant with the WGC Responsible Gold Mining Principles is hopefully going to set us apart in the long term, actually giving back to Africa and helping the local communities with their long term prospects.
Of course I'm here to make money, that is my primary objective, but if we're talking about belief, I'm bought into this vision and way of operating too.
If rather be invested here for that reason and am holding on to the fact that the company's real value will be recognised in due course. Without DB at the helm and working towards those goals, aren't we just another mining company taking more than we give?
Thanks for explaining that Bushy
Not surprisingly all resolutions were passed, as recommended by the BOD.
My concern, if I'm reading it correctly, is that under red 7 & 8 they now have carte blanche, albeit for a limited time period, to issue further shares without first offering them to existing shareholders in proportion to their existing holdings. This surely leaves the door wide open for yet more dilution without long standing retail shareholders getting a look in?
Somebody please explain to me that I've got this wrong? ...
Some of us have been here over 10 years Sideshow, averaging down and waiting for the returns that seem to be so evidently available .......
But if I want still hopeful then I wouldn't still be here 😉
Interesting read BT but I genuinely can't see that a majority of those signs apply to HUM atm.
The general consensus on this board seems to be that Dugbe is for sale and/or is too big for HUM to take on.
I'm not so sure, but we're all speculating and making educated guesses. It seems to me that DB's confidence/ego would encourage him to develop Dugbe within the group. The clarification of a controlling interest in Pasofino, bringing on extra investment (and industry sector expertise) from CIG, together with a generally accepted expectation of a rising gold price in the medium term all point, to me at least, of a desire to now keep Dugbe in house?
I know there would be a huge scaling up required, but clearing down existing debt asap and more detailed exploration results might be a pre-requisite to CIG backing us to take on Dugbe? Thoughts?
500k traded just after 2pm yesterday and again just before close today.
A quick buy and sell perhaps?
If so, not bad at all, a 4% return in just over 24 hours.
Good luck if you can make the market work for you ....
What's he supposed to say anon?
He's stating the facts, they can only control what they can control and the numbers will speak for themselves.
Either we're prepared to take the risk of backing DB and his team, or we're not.
I thought it was a good interview and yet again shows what a promising future HUM has.
Some sizable trades, looking like sales. Ruffer still off-loading?
Agreed Bushy but going underground at Yanfolila, in the first year at least, is surely going to put pressure on AISC even with the increased output. This is my main concern now as to whether $1,100 can be sustained in the short to medium term.
Thanks Evraz. Your model also assumes that there will be no significant change to AISC as we start to go underground at Komana?
Oh to be a fly on the walls of the MMs discussing this latest RNS!
Chirpy, thanks to you and others for feedback from the GM.
Was anyone more specific about the continuing VAT recovery problems, what is outstanding and the impact this is having on cash flow?
Yes I have seen the presentation and DB was I think both positive and capitulating. The presentation is good in that it's honest and forward looking.
Thanks Bushy, I'm still here and hopeful of the future but somewhat muted from the early days. I have added substantially and remain a committed shareholder, but DB and Monty both acknowledged that PIs are feeling bruised. I remain proud to be associated with a producer with such high ESG credentials and just because I only post on HUM does not make my opinion worthless.
It's important that we all share our views and, just for the record, I appreciate your perennially positive points of view and insights as much as the derampers. I consider myself a realist, neither extremely pessimistic or optimistic.
I'm sure that we all came into this with our eyes open and are all hoping for success here, not least for those trying their best on site day to day.
So what's changed Billyboy since all those earlier communications from the company telling us unequivocally that Kou would be completed on time and within budget from internal cash flow and debt ONLY. This was even referenced by DB himself in an interview ......