Hummingbird Resources Share Discussion Threads

[pixi] 15/9/2016 21:30

Laptop, maybe after they decide not to raise interest rates next week?

[laptop15] 15/9/2016 21:09

Sooner or later HUM is going to gather moment and push away from the 20's altogether.... surely it can't be much longer languishing at this price! I remember Berkeley energia a uranium miner was stuck in the early 20's for months and then it took off now in mid 40's. It's at a similar production stage to HUM.

[pixi] 15/9/2016 21:05

I like this management team: they have avoided diluting shares and appear very professional in their approach to business.

I have been very selective in my purchases for Round Two of the bull market for precious metals and own: HOC, PAF, HUM and AAZ in order of value. All recent acquisitions. I also bought bullion gold today.

[chipperfrd] 13/9/2016 02:05

vatnabrekk,

Thank you for the link to which I had not been aware of.

I note that Monro makes the point that the US$35m will provide working capital, so they are looking beyond the immediate Yani project Capex requirement and are seeking the establishment of a facility for possible drawdown if and when additional cash might be required for expansion or other company enhancement purposes.

The interview does pre-date the US$3.8m private placing announced on the 12th August and there has also been an announcement regarding the possible joint venture with Kola regarding the new Cora pool of exploration assets.

Putting it all together it would seem that HUM feel that they are on a bit of a roll and wish to maximise their potential in W.Africa now that they have secured finance for the Yanfolila build.

If and when they secure this new debt facility it will be interesting to see whether the Taurus loan gets extinguished. I must admit that this would appear to be a likely outcome. Alternatively, could Taurus be in the running to supply the facilty. I guess we will soon find out.
Chip

[vatnabrekk] 12/9/2016 22:57

clipper: The 35M additional senior debt was mentioned by Robert Monro in an interview at Sprott Natural Resources Symposium at Vancouver on 2nd August. Here is a link to the audio:
www.kereport.com/wp-content/uploads/Weekend-Speical-Hummingbird-Resources-Burt-Munro.mp3

[chipperfrd] 12/9/2016 17:24

I really don't know where you guys get your numbers from! What is this 35m that vatnabrekk is suddenly popping up and quoting?

In case you missed it, HUM raised the project finance for Yani a couple of months ago. They may still do some vendor financing for mobile equipments as Caterpillar/et al all offer good terms due to the poor market conditions they are suffering. But the bulk of the cash is already raised.

As for the Taurus bridge. It was originally a US$10m advance on the US$75m debt funding that Taurus was going to provide, and that US$10m was going to be repaid out of that main debt facility. Subsequently, Taurus advanced another US$5m so that all preparatory earthworks, DFS preparation, etc, could be completed.

As it turned out, HUM and Taurus did not go down the debt funding route and project finance was completed via the placing of equity.

The fact that Taurus has extended their bridge repayment would appear to indicate their continued interest in the project and, presumably, their eagerness to receive interest on that US$15m. It is also possible that their original 1% NSR is tied to their debt arrangement with HUM and may well be a factor in the rolling extension of the loan repayment - but that is purely my hypothesis! Either way, HUM clearly have the Taurus US$15m available if it is required to be repaid, so obviously Taurus want to leave their cash with HUM for the time being.

And finally, Charles Clore please don't expect to ever see a 'leachpad' at Yani - it is planned as a conventional CIL plant.
Chip

[charles clore] 12/9/2016 15:48

And when they have dealt with the financing the excuse will be dilution. This isnt going anywhere until they instal the leachpad in a year's time

[substp] 12/9/2016 13:30

As Mr. Monros audio said.... WIP.... :-)

[vatnabrekk] 12/9/2016 12:16

I think you may be right about the Taurus bridging loan. In fact, the entire 35M funding needs to be sorted before we see any significant upward movement, IMHO.

[substp] 12/9/2016 09:52

There is no volume to speak of... I see no rush to any exits... :-(

[divmad] 12/9/2016 09:39

Because they haven't sorted out the Taurus bridging loan yet.

[substp] 12/9/2016 09:02

MMs desperate to make a market here?

A tree shake?

[noirua] 12/9/2016 07:52

Quite good news for HUM but on a widespread down day in Australia,
for the gold sector. Randgold might be eyeing up Hummingbird as they have two operating mines in Mali.

Yanfolila is the Company's most advanced asset, which boasts impressive economics and production fundamentals. 132,000oz gold is targeted for its first full year of production, which would deliver around US$70 million of free cash flow at a US$1,250/oz gold price. On its initial eight year mine life, Yanfolila has an IRR of 60% and an NPV of US$162 million at US$1,250 gold price, making it one of the highest margin undeveloped gold projects in Africa. All in sustaining costs of US$695 per ounce places it in the lowest quartile of African producers.

[substp] 12/9/2016 07:13

And we're off... good to see the equipment moving in... :-)

[substp] 11/9/2016 10:19

Even more news soon...

"The principal conditions of the MoU are that by 30 September 2016:
● Cora Gold must receive binding commitments for an initial minimum of US$4 million
(before expenses) by way of an offering by Cora Gold (the ‘Offering̵7;);
● each party must be satisfied with the result of their respective due diligence exercises;
and
● the parties must enter into a formal binding Amalgamation Agreement.

Completion of the Offering is to occur following the Amalgamation. Upon completion of the Amalgamation and immediately prior to completion of the Offering the respective shareholdings in Cora Gold will be Kola Gold 57% : Hummingbird Resources 43%.

[substp] 08/9/2016 07:23

I see this as good news as it gives them more time while the financial institution does their due diligence for the senior debt.

Impressed they told us today (due date) unlike a lot of companies that leave you hanging... :-)

[sleveen] 08/9/2016 07:08

An extension, so they don't have the cash to repay it yet.

HUM had a 6 month extension and it wasn't paid off during that time.

Placing ahoy?

[ukgeorge] 06/9/2016 14:37

And Hum moving in the right direction for once.

[pixi] 06/9/2016 11:26

Gold flying: $1333.10.
.

[noirua] 05/9/2016 22:59

Stars aligning for next stage of gold bull market

[aim999] 04/9/2016 18:25

I'm expecting news on the funding this week. And yes I'm also expected them to be on site from October .... They said it several times