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[dickbush] 16/4/2024 21:53

A major piece on gold in the Telegraph, too big to publish here. It begins

Gold is sniffing out monetary and geopolitical dystopia

‘Never seen before’ levels of buying could be the makings of a war chest

AMBROSE EVANS-PRITCHARD
16 April 2024 • 3:43pm

“It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily.

Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70 basis point jump in 10-year US Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold.

[dickbush] 16/4/2024 15:02

Pasofino Gold Limited - Pasofino Gold Announces Start of Drilling at 'Bukon Jedeh', Dugbe Gold Project in Liberia

A sign of confidence.

[laurence llewelyn binliner] 16/4/2024 13:54

Progress at KEUG
Progress at Kouroussa
Progress at VEIN / Dugbe

We are in danger of moving forward, next stop commercial production status at Kouroussa and making money over and above the AISC.. :o)

[jedi k] 16/4/2024 13:29

https://www.linkedin.com/posts/hummingbird-resources_earlier-today-we-provided-an-update-on-the-activity-7185955704246038528-vwcZ?utm_source=share&utm_medium=member_iosVideo and pictures of the update.

[borderterrier1] 16/4/2024 13:24

Hi TBTT. I agree and like you, I am also now very skeptical about this; it is virtually impossible for anyone to research it properly. Having said that,as you know I have been "invested" here for a long time. Over that time this has been a constant frustration for me and I am down substantially. I am very privileged to live in an area of the S USA when millionaires are ten a penny, billionaires are very common and most of them love to do something that I regularly give them advice on. One of them is now close to 90 years old, he has been a stock trader all his life and sharp as a tack. In that respect, I am very fortunate and listen to his advice.

During our conversations, that guy and also some of these other clients know I am invested here and recently a couple of them have suggested that this really may be on the mend. I didn't delve into why they thought that but others with more investing savvy than me have recently said the same thing on here. I hope they are right.

[backmarker] 16/4/2024 12:56

That 335m level looks tasty. Only 12m away. In the old days you'd hire a bunch of Irish navvies and they'd have it sorted PDQ.

[tigerbythetail] 16/4/2024 12:31

Honestly, I'm amazed by those trying to read the positive into today's RNS.
Do people seriously think Corica are going to take this treatment lying down? Or that Coris Bank's tolerance has no limits? Or that HUM are not in dire financial straits right now?
I'd still rate the risk of a total equity wipeout as probable here. In truth, another discounted bail-out placing is likely the least bad option available for shareholders.

[sclper] 16/4/2024 12:28

Main thing is Coris Bank is supportive and is indirectly the largest shareholder by far

[plat hunter] 16/4/2024 11:41

They indicated 77m for this year so I just devided by 4 for a quarterly commitment.

Most at 8% over 2 years, several million at 12% payable in 2028. All Coris

[backmarker] 16/4/2024 11:28

Do we actually have any exact details of the loans and repayment schedule?1. Are all our loans from Coris ?2. What are the terms of each loan ?What was borrowed, for how long, at what interest rates? Are repayment dates fixed ? Can they be moved/deferred and at what penalty ? Can they be repaid early, and at what penalty.As far as I know the only data we have is the total debt at year-end and the amount they hope to repay by the end of this year.Does anyone know better?

[laurence llewelyn binliner] 16/4/2024 11:11

#PH,we do not know how any weeks out of 12 were 700 ounce pours at Kouroussa, just several, so best case would be 8,400 ounces but more likely under that, 5 or 6,000 would be a win..

Nonetheless, we are inching forward, and the likelihood of a further raise is retreating (a little) IF debt increased to plug the Q1 OPEX, some interest deferral for a quarter would be a bonus..

Q1 update now 2nd half of April..

[plat hunter] 16/4/2024 10:53

6 mill cash from ye
Circa 3.5k gold inventory from ye @ 2359 = 8.5million

Yan Q1 rev 38 million
Kor Q1 8.5k 17.5 million
Debt repayment (19.25)
OPEX (60)

Net Cashflow Q1 (9.25)

No where near as bad as what we thought towards the the start of March when this nonsense started up and manageable imo.

[dickbush] 16/4/2024 09:12

Yes, but, 1st and 2nd qtr production already hit. 3rd qtr is the wet season for both mines. So, 4th qtr is the first opportunity to see what HUM is capable of. Still, if we can see net debt declining from this qtr and some successful drilling results from Kouroussa and Dugbe, perhaps we can see a strong recovery in the share price.

[frogkid] 16/4/2024 08:59

That update went down like a bacon sarnie at Friday prayers.

[laurence llewelyn binliner] 16/4/2024 08:53

#DB, with 6/7 years of production (so far) and un-hedged coming out of Kouroussa, selling into that will have us debt free and in the black PDQ.. :o)

[dickbush] 16/4/2024 08:36

Gold Seen Hitting $3,000 at Citi as Investor Inflows Juice Rally
Citigroup joins list of Wall Street banks upgrading forecasts
Bank’s analysts raise price estimate for next year by 40%.

Gold is set to reach $3,000 an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc. said, adding to a roll call of Wall Street banks that have raised forecasts.

Analysts led by Aakash Doshi upgraded their estimate for average prices in 2024 to $2,350 and made a “massive 40% upward revision” in their 2025 prediction to $2,875. Trading will “regularly test and breach” $2,500 in the second half, they wrote. Gold traded at $2,387 by 1 p.m. Singapore time Tuesday.

[sleveen] 16/4/2024 08:27

A step in the right direction.

Let's see what the financials are next week.

[sclper] 16/4/2024 08:06

Nice update, better than most of us had expected!

[laurence llewelyn binliner] 16/4/2024 07:54

Current relative level 347.5M
345M - better
340M - much better
335M - BEST GRADES

Coris still supportive, and we are nearly there.. :o)

#Sleveen, with Coris still supportive, we can hope that means debt has gone up, but no more equity and dilution is coming down the track..

[darrenhorsfield2] 16/4/2024 07:43

Now, that's more like it. Onwards and upwards

[laurence llewelyn binliner] 16/4/2024 07:30

#PH, a strong update there, we are in the transition zones already, and almost into the high grade, repeat pours at the current level would yield 8,400 ounces over a quarter, so I estimate we are nearer 1 g/t now, heading into the 3 to 4 g/t ores..10,000 ounces a month from Kouroussa coming into view.. :o)

[plat hunter] 16/4/2024 07:27

Fingers crossed that adding yesterday afternoon for 6.5p was a shrewd move.

[plat hunter] 16/4/2024 07:17

Corica have been extremely foolish imo. Excellent update, finally confirmation of drill and blast

[temujiin] 16/4/2024 07:14

That's a good RNS for HUM. Still shows the problems they have aren't resolved but plans are in place, Coris is supportive, drill and blast has restarted, gold is still being poured and high gold zones within reach now.

Corica are still being babies chucking their dummy out so eventually need side-lining. Question remains about how or if they will finance the shortfall in expected revenues due to lost production.

[laurence llewelyn binliner] 16/4/2024 07:12

Progress.. since 18 March 2024, operations at Kouroussa have continued with the processing plant operating at the expected levels with mining via the small existing ETASI support mining fleet and the Company has achieved several weekly gold pours averaging c.700 oz per week.