Hummingbird Resources Share Discussion Threads

[catsick] 11/1/2018 07:34

Cora drilling results out with nice visible gold, also due to start drilling 8km away on artisinal sites with known gold which I suspect is going to be the ore used instead of agg ore ...

[ih_184073] 10/1/2018 18:13

I just bought some LYD.CA if goldies are your thing.

[croasdalelfc] 10/1/2018 15:34

I think management focus will be on forming up reserves and resources with a view to confirm life of mine to 10 years plus

[shortarm] 10/1/2018 15:25

What are the current broker targets for HUM?

[chipperfrd] 10/1/2018 12:40

I don't see the current level of resources and reserves as being a problem.

The Komana E & W reserves will cover the first 6 years and are in any case likely to increase over time. Reserves are currently c. 50% of resources so there must be a reasonable probability of more oz being converted to reserve.

There are then another c. 744koz of resources amongst the satellite areas which are not yet included in the mine plan (Guirin W, Sanioumale W & E, Gonka, Kabaya S, and Soloba/Koma). Clearly these will all get more attention now that production is finally commencing and I would expect the overall level of reserves to increase YoY above depletion.

Then there is Cora and presumably other opportunities amongst the gold belt in their area.

So plenty of time to expand reserves and mine life.
Chip

[zeberdie] 10/1/2018 12:05

why 7000 ? at 132k in the first full year thats about 2600 per week. Give them time to ramp it up a bit. Blokes need to be trained and systems need bedding in. 3 to 4k would be just fine up until now with the numbers steadily growing up until full capacity around the end of Feb. Anything more would be a bonus.

[charles clore] 10/1/2018 11:51

Surely they must have produced that much by now. Probably closer to 7000 oz imho.

[croasdalelfc] 10/1/2018 11:34

Gold edging up 1324 - it would be nice to get an update re production at end of month. Or an announcement that they are cash flow positive 5000 oz should do it !

[charles clore] 10/1/2018 08:49

Anyone with any sense will be waiting to see the end of the selloff before buying imho

[darola] 10/1/2018 06:23

Pageant reduced to below 5% in November. In June they notified that they had crossed 3,4 and 5%, to 5.33%. So they loaded up at around .25 and sold around .35 so made around 40%. As they'll only need to shift another circa 2.5m to go below 3% we'll soon know if their still off loading. But would have thought there'd be other iis now ready to buy in.

[croasdalelfc] 09/1/2018 22:39

It looks like Pageant went over 5% in early Nov and are now back to 3.5% probably at break even

[zhockey] 09/1/2018 19:41

Charles you cannot compare a new single mine producer with peers on high PEs.

HUM do not have 10 years of reserves at present so how can you predict a PE of 10+

This could double in time but they need to do a lot of drilling to prove up reserves.

[charles clore] 09/1/2018 19:24

I wish zh would listen to chip about p/e

[ukgeorge] 09/1/2018 17:35

I wish Centamin would make a cheeky bid for these.

[zhockey] 09/1/2018 17:00

I imagine they sold because they think a pe of 6 is fair value.

[lasata] 09/1/2018 16:55

Thought Pageant had crossed 4% to the upside..........what % did they hold before?

[charles clore] 09/1/2018 15:32

Perhaps they want to show a profit for year end. Then buy back for 2018, sounds quite crazy but that is how it works I believe.

[divmad] 09/1/2018 15:26

Why are they selling at this switch point in Hum's life cycle?

[croasdalelfc] 09/1/2018 14:53

That TR1 might explain the recent selling pressure - 4 million sold by Pageant

[croasdalelfc] 08/1/2018 23:22

Two 1000000 trades late on , one buy and one sell?

[darola] 08/1/2018 15:17

risa 5. Yes $60m. On 4 year terms at 9%. As of end of December we still had $40m in the bank and we are now in to positive cash flow so hopefully that will dip initially to meet end of year bonus, milestone payments etc, but then start to build.

[lasata] 08/1/2018 13:49

Wonder when the stock overhang will be cleared here..........higher volumes than normal recently

[risa5] 08/1/2018 04:26

Was trying to find the debt here is it about 60 ? TIA

[roguetreader] 07/1/2018 22:55

Cheers Charles will check them out also

[charles clore] 07/1/2018 19:39

rogue - here's a couple of other sources that you might find interesting from further back on the thread.

Daily Mail -


sjamescampbell
31 Oct '17 - 13:45 - 2027 of 2423
Good afternnoon all, i dont usually post on here as i tend to use LSE mainly. Below is a link to a report that i compiled from a recent visit to HUM HQ to meet Dan Betts & Bert Monro, 2 colleagues and myself had a good hour or so with them. The report covers the basics and more recent info with some finer detail thrown in.