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[sleveen] 06/2/2023 09:25

PH

As I have too.

[laurence llewelyn binliner] 06/2/2023 09:15

#DB, some decent images of the progress at Kouroussa in the presentation too, not yet on the company website gallery, the build is coming along very well now.. :o)

[dickbush] 06/2/2023 09:12

I am slowly working my way through the presentation. I have just noticed that the first pour for KE underground is now the end of the 4th qtr rather than the previously indicated end of 1st half...if my poor memory serves. I assume this is to reduce the build up of debt. I think that's the right decision. That reduces my 2023 production hope by 15-20,000 oz.

The chart on page 4 suggests circa 145-155,000 oz for 2023 i.e 65,0000 oz for Kouroussa. I was hoping for 50-55,000 oz. However, this 65,000 oz figure is given as "estimate only and subject to change".

As, usual, fingers crossed.

[farrugia] 06/2/2023 08:49

i closed it all last year to use the CGT loss. but I've re-opened a moderate position today.

[nickwild] 06/2/2023 08:46

what does update say about Kouroussa costs

[plat hunter] 06/2/2023 08:39

Unfortunately Sleeven, I have many more for much more.

[sleveen] 06/2/2023 08:37

PH glad to read that, 60p perfectly possible.

[laurence llewelyn binliner] 06/2/2023 08:34

An excellent update after a mind bending 18 months of negative news, onward and upward.. :o)

#Farruia, a penny a day is all we need as the information contained is absorbed by the market, it is the outlook that matters more..

Q1-2023 to mirror our Q4-2022
80-90,000 ounce guidance at sub 1,500 clearly looks very conservative based on the Q4 number..

125,000 ounces for 2023
200,000 ounces for 2024

1,200 AISC forecast from 2024
200K ounces at a 750/Oz margin = USD150M EBITDA incoming

New presentation out too..

[ukaliptus] 06/2/2023 08:33

2nd RSN today.....8.30am!


😊

[farrugia] 06/2/2023 08:29

I picked up a few as a punt - people who kept holding this must not be too happy by the tiny bounce.

[plat hunter] 06/2/2023 08:19

My sub 6's are still riding Sleeven, not going to touch them until they're 60p 😀😀

[sclper] 06/2/2023 08:18

Excellent Q4 results, that's a huge relief. When calculating payments for Kouroussa bear in mind there are deferrals of at least $20m that will be paid when Kouroussa is producing. That means that at most another $30m ($115m - $65m -$20m) is to be paid prior to this and the company has $15m of the debt facility remains plus some gold inventory

[arlington chetwynd talbott] 06/2/2023 08:16

trader465 - it was not a red or black gamble, it was the chance to take advantage of a favourable balance of risk and reward, and after that update it still looks favourable.

[sleveen] 06/2/2023 08:15

A bit of profit taking over the last few minutes but buys coming to offset.

Those fortunate enough to buy below 6p taking a short term profit, I don't blame them, but I think they are wrong.

[wskill] 06/2/2023 08:11

Good news at last we can get kor online with yani cash flow that will do me .

[plat hunter] 06/2/2023 08:07

Mind the gap...

200ma at 8.66

[johnhemming] 06/2/2023 08:05

They are already 1/3 through Q1 2023 so if they say the figures look like being the same they know quite a bit about Q1 2023.

[sleveen] 06/2/2023 08:03

caution, trying not to overpromise.

DB any reason for fall in POG?

[slopsjon2] 06/2/2023 08:02

Canaccord suggest that another 28koz quarter with give them 15m in free cash flow, enough to complete the project. But they caveat that with past failings to follow up good quarters.

[plat hunter] 06/2/2023 08:02

Well Kor is short of 15 million on paper and fcf is north of 10m per Q with 4 million held in gold.

Unless Mali blows up then Kor getting to production is not a worry

[dickbush] 06/2/2023 08:00

Phew! At last HUM has produced the goods As above, I don't understand the 80-90,000 oz forecast for 2023. From the 3rd qtr report

"The Company's mining targets include approximately 430,000 tonnes of ore from the KE deposit at higher grades, and has budgeted a base case of processing 385,000 tonnes of ore with potential for increased throughput of higher grade material."

They've hit the budgeted amount. At 430,000 tons/day and the same grade of 2.45 g/t suggests almost 32,000 oz.

I was looking for 30,000 oz for the 1st qtr. Has Betts finally given us a target that he can't miss?

No forecast for production for 2023 from either KE underground or Kouroussa. I'll throw out a number, 60,000 oz, to give a total 140-150,000 oz

Final comment: the debt build up in the first half is not going to look good. But, if the market was worried about its viability before these figures, I think it can relax now.

As I rest my typing finger, I am still confused by the 80-90,000 oz target for Yanfolila.

[johnhemming] 06/2/2023 07:58

If they have the confidence of the bank then they can turn things around part debt financed and don't need more equity. That's how the RNS reads anyway.