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[dickbush] 31/5/2021 22:00

Malian strongman, Colonel Assimi Goita, returned home on Monday after West African leaders condemned a second coup that cemented his grip on power, calling on him to name a new prime minister but stopping short of re-imposing sanctions.

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[dickbush] 31/5/2021 19:26

Plat Hunter

This is the full S.P.



The bottom line remains that Pasofino has one (potential) asset apart from cash-which will be used to meet the requirements of the deal. So, I think Pasofino's market cap represents 49% of Dugbe, and we can value HUM's 51% on that basis.

[roguetreader] 31/5/2021 18:37

Update from Pasofino drilling:

[plat hunter] 31/5/2021 18:01

Golden Cross on the 20/80 First time the 20 has traded higher than the 80 since November 2020.Https://www.tradingview.com/x/h6MQ56MF

[plat hunter] 31/5/2021 14:12

Pasofino bought bought ARX resources in september 2017 for 10 million

[dickbush] 31/5/2021 14:07

Trusting my memory isn't a good idea, but isn't that the company through which Dugbe is owned, with HUM holding 51% and Pasofino holding 49%. Note that Pasofino sold its Roger copper gold holding recently. So, its only asset is its Dugbe holding and some cash to fund the initial stages of the project.

[laurence llewelyn binliner] 31/5/2021 14:01

#PH ... ARX was the JV company developing the Kouroussa project before it was sold onto Pasofino...

[dickbush] 31/5/2021 12:10

Just playing with numbers:

Holding in Bunker Hill worth £1.25 mil
Holding in Cora worth £1.9 mil

51% ARX holding worth £21.4 mil*

*Based on Pasofino having 440 mil shares outstanding after the current offering, and guesstimate that the share price settles at C$0.08 (currently C$0.09)

Total £24.5 mil.

Current Market Value of HUM: £80.5 mil.

So, HUM on about 1 times EBITDA at the current gold price after subtracting these holdings.

[dickbush] 31/5/2021 11:28

Taking the current gold price as the closing price today-just to get the number out-the average gold price for May is $1,853.

[dickbush] 31/5/2021 11:02

I think so, but its its rating certainly won't be helped by events of the past few days. To get really paid on HUM, we need an extended period of relative peace. Meanwhile, we wait on Kouroussa. Like you, I'd be happy to see HUM make some sort of cash arrangement with Cassidy.

[plat hunter] 30/5/2021 18:44

Bordering Niger, is the main French source of Uranium which it uses for it's nuclear industry.Macron would send more troops if the area was to become further destabilised imo.

[dickbush] 30/5/2021 16:14

50 miles from Yanfolila.

[dickbush] 30/5/2021 16:11

FWIW, Commentator on France 24 says it makes no sense for France to withdraw from Mali. It's the linchpin to opposing ISIS.

[golden prospect] 30/5/2021 13:08

30 May 2021



Macron threatens to withdraw French troops from Mali

[plasybryn] 29/5/2021 10:55

My tweet today:-Basel 111 comes in end of June for Euro. banks, I believe . They will have their gold holdings audited prior to implementation date. If they have shortfalls (heaven forbid) they will no doubt need to buy gold. The U.K. goes live 6 months later to give our Banks time to prepare!

[plat hunter] 28/5/2021 17:30

In short, if we wanted to pay off Cassidy and send them off down the road, we could do and with ease.

[plat hunter] 28/5/2021 17:29

As of Q1 End:

2,596 oz gold inventory at 31 March 2021, valued at ~US$4.4 million & Net Cash 3.3 million Total Net Cash positive of 7.7 million. If we presume we haven't added to gold reserves in Q2 that gold is now worth 4.9 million.

There's been no change in the average gold price for the period circa 1785 versus Q1 of 1788. That said we should expect the AISC to have come down a smidge, even if's just 50 bucks down 1445 based on same gold sold number of Q1 22019 ounces is circa 7.5 million dollars operational profit adding approx 5.2 million to the Net Cash pile.

Net cash for YTD at the end of Q2 should be circa 13.4 million perhaps even more if we manage to add to the gold reserves with a few more ounces.


This post was sponsored by CASIO and the Q1 production and operational update RNS