Hummingbird Resources Share Discussion Threads

[borderterrier1] 17/4/2024 23:22

Obviously Coris have known about Wagner for sometime and they hold all the aces. IMO the game is afoot!!

[sword77] 17/4/2024 22:38

@TigerByTheTail because the majority owner of Coris, owns already 42% of HUM. So we might get an additional capital raise as Idrissa Nassa doesn't want to look for a new management and a lengthy production stop.

[borderterrier1] 17/4/2024 21:12

LLb What's your take on the Wagner group taking over gold mines in Mali? Or do you choose to ignore it in the hope that it will go away?

[laurence llewelyn binliner] 17/4/2024 20:29

#Backmarker, good find..

ETASI services - drill and blast, excavation and haulage, our Q1 update towards month end is sure to have post period notes to add on how they are now ramping up their support efforts.. :o)

[zam1] 17/4/2024 17:32

At last they are doing something about it

[plat hunter] 17/4/2024 17:10

Do remember when all the clueless trolls said, "No other contractors will work with HUM now"


Lolz

[backmarker] 17/4/2024 16:36

https://www.miningmx.com/top-story/56621-hummingbird-appoints-other-mining-contractors-at-the-kouroussa-mine-as-dispute-with-corica-drags-on/

[temujiin] 17/4/2024 15:42

If they have direct control of third party Corica contractors then things may be looking up for HUM. I Would have thought HUM would have said if the Corica fleet was back working under their direct control.

[borderterrier1] 17/4/2024 14:51

From the get go, it appears that this has been complete B/S and deliberately misleading hype. I put a post on here about three weeks ago about DB pulling the Easter Bunny out of the hat, this shot up a staggering 28%, then down again in a day.
This is just a complete train wreck of a company and things don't look good now IMO.

[tigerbythetail] 17/4/2024 14:28

The biggest mystery to me is why Coris Bank don't declare HUM in default (because how can HUM not be in breach of some of their debt convenants by now?), and move in, take over the assets, strike a workable deal with Corica, and try to get as much money back for themselves from this car-crash.
I can just about imagine scenarios in which the equity here still has value. But, honestly, it's a stretch.

[laurence llewelyn binliner] 17/4/2024 14:16

#Temujiin, I noticed this too - 16.04.2024 - due to the ongoing suspension, a formal Step-In notice was issued by the Company, allowing the Company to take contractual control of operations at Kouroussa and issue direct instructions to Corica and its third-party contractors..

The 3rd party contractors part tells us Corica have subbed the job out in parts, which could explain why they could have got in a muddle and behind, depending on another party which is not their own, if the drill and blast teams, diggers or the haulage trucks stop, so does everything else....

There is more than meets the eye to this stoppage, could be it is the 3rd party who has walked off site because Corica have not paid them, and we have not paid Corica for not delivering to contract..?

[borderterrier1] 17/4/2024 14:14

Hi TBTT So, all a bit of a mystery at the moment. The silence is deafening from the Hum stalwarts on here. Unwavering partisan support even though the share price is where it is today. Baffling.

[zhockey] 17/4/2024 14:10

Isn’t that just their interpretation of the RNS?

[temujiin] 17/4/2024 13:47

May or may not be true, but says HUM directly controlling Coricas sub contractors. Can't see that being true for all of their fleet.

hxxps://www.thearmchairtrader.com/uk-shares/hummingbird-resources-pouring-gold-despite-guinean-contractor-standoff/

[laurence llewelyn binliner] 17/4/2024 09:58

31.01.2024 - The Companies near-term revenue protection scheme has been finalised with 60,000 oz protected across the first three quarters of FY-2024 through forward pricing and cost collars, with an average floor price of USD2,000 per oz and upside of up to USD2,150.

[lowtrawler] 17/4/2024 09:48

Until there is news about Coris and their additional support, it remains difficult to assess a fair price for HUM. Until the Corica situation is fully resolved and a reliable schedule put in place for commercial production, the support from Coris cannot be properly defined.

For all the good words in yesterday's announcement, the lack of resolution with Corica and inability to plan through to commercial production and beyond leaves shareholders in limbo.

[dickbush] 17/4/2024 09:38

Just consolidates what we already know except that it suggests only 30,000 oz hedged.

[dickbush] 17/4/2024 09:18

Predictive Discovery's Bankan project is next door in mining terms to Kouroussa

[backmarker] 17/4/2024 09:07

It looks like we may have reached a temporary standoff. Just one trade so far this morning (the first two were there when the market opened) suggests all who want to buy have bought and all who want to sell have sold. We may now have to wait until the Q1 update - and that may well be delayed a bit- before we get the next stimulus.Personally I think the Q1 figures won't look too bad helped by POG. Will we get a live presentation ? Maybe that would be too difficult for Betts to handle if it includes a Q&A. Unless the Corica issues are resolved.

[borderterrier1] 16/4/2024 23:49

Hi TBTT. Thanks for that info. that's very interesting and I admit quite a shock and unexpected bombshell! I read the link from Sword 77. It doesn't look good for ANY gold miners in Mali now, does it? Least of all the ones with idiot management. Time to throw the towel in I think, this may be the final coffin nail? Of course, the Wagner group has been actively taking over gold mines for some time but I am certain most don't know about this present, recent situation. So, why the recent interest? Perhaps there is some hidden agenda that we don't know about? And I agree 100% with your observations of SOME (but not all) billionaires. I absolutely would not change places with some that I know! Money definitely is not everything!

[tigerbythetail] 16/4/2024 22:13

Hi BT!
Here comes big trouble for Hummingbird in Mali. This has been on the cards for a long time - it's how Wagner operate right across Africa, but it seems that time is finally running out for Western miners in Mali.
www.mining.com/barrick-under-pressure-in-mali-as-regime-eyes-control-of-loulo-gounkoto/
I've been wrong about lots of stocks lots of times, of course, and I've taken lots of losses over the years, and I'm certainly not a billionaire (I've met a few, by and large I'm glad I'm not one!). But IMO the chances of HUM shareholders getting anything at all out of this mess are not high.
More generally, I have this sneaking feeling that now is a time to be pulling money out of stocks, rather than putting money in. And that includes gold miners.

[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.