Hummingbird Resources Share Discussion Threads

[zeberdie] 16/2/2018 13:31

its coras job to go out into the wilderness and add ounces prospecting.... its ours to do infill drilling and bring more locally into the mineplan (that my understanding of it anyway)

[bittorrent] 16/2/2018 13:06

So they are going to spend $8-10 million on exploration at Yanfolila this year, they could buy the rest of CORA that they don't own for that price.....

[bookwormrobert] 16/2/2018 12:23

Hockey - you're joking, right?
Yanfolila will generate around $87m in free cash flow in its first year of full operation (q2 2018 to q2 2019), based on current gold price. That's equal to 48% of Hummingbird's current market cap (fully diluted with warrants exercised).
The reserve will be increased by the 1m ounces currently indicated or inferred in the mine plan - see the exploration news in today's RNS. There are also a lot of blue sky targets in the Yanfolila area which need drilling.
By any measure, Hummingbird is very very cheap. In fact, I challenge you to name me another London-listed share (on AIM or main market) that will generate over 30% of its mcap in free cash flow this year. Go on, tell me...

[zhockey] 16/2/2018 11:24

It's a positive RNS but like I've said before the Mcap is very high for a single mine with a small reserve.

If you have the patience then I think this will do well but I don't think you'll see £1 this year.

[bittorrent] 16/2/2018 11:15

Cyber, Yanfolila is right down in the South-west corner of Mali, the trouble is in the east and north.

[cyberbub] 16/2/2018 10:56

Thanks all

[zeberdie] 16/2/2018 10:24

As per Good Griefs post the company have people whos sole job is to give back to the local communities.

[ukgeorge] 16/2/2018 09:50

The mine appears to be doing very well.

The mine has operated from 7dec- 15th feb (70 days in total)

In that time 147997t have been processed which equates to 2114t per day the plants capacity is 1.23Mt per annum or 3400t per day. So the mine has operated at 62% since December 7th.

The mine is now operating at 90% of capacity. Or around 3000t per day.


If we look at what they have produced or is in circuit we can work out that the average grade processed has been 2.35g/

It all looks to be on track. Commercial production could be declared as early as late February but my guess would be March or even April.

For the first year they are targeting 132koz this implies an average grade of 3.6g/t.

[wskill] 16/2/2018 09:30

Excellent news well done to management and the team on the ground .HUM have delivered on their promise no ifs or buts and constant cash calls which I have been used to with small gold producers.

[fsawatcher] 16/2/2018 09:28

qs99

dont yous be foregttin Mr weir

he shoots he scores.....

dugbe worth 50p a share innit

when it happen

[wilmot] 16/2/2018 09:27

Completely undervalued and ripe for a tip IMO. The only question is whether the overhang has gone.

[qs99] 16/2/2018 09:20

Tis all about turning those ounces outside of mine life plan, into known resources and taking the mine life above 6-7 years to 10-12 years....IMO....just read something talking about £1 a share (sharehub) if it can do this in a cost effective way.....DYOR etc...add on some corporate activity in that period and you can see how this can multi-bag.....roll on doubling in the first instance IMO

[arthurly] 16/2/2018 09:19

Half term this week. Think that explains it.

[fsawatcher] 16/2/2018 09:11

this jus mali innit

aint they got sommat else in liberia

country run by the great ex socca player george weir innit

ave population age is 18

me finks they all like socca

does mali do barley?

[zeberdie] 16/2/2018 08:46

THEY WERE.

[croasdalelfc] 16/2/2018 08:35

Ahh got It ! I've been watching gold rush on the tv , quite interesting, it's easy to see those gold dore bars in the photo weren't 25kg

[darola] 16/2/2018 08:35

Sell on news brigade have turned up. Still expect us to hold a blue finish.

HUM is not just about it's known outputs, the compelling part for me is the desire to grow the business and the stated intention to engage in M&A activity. This company will generate loads of cash for years and years, used wisely it could be massive - £5 a share in 5 years.

It's ridiculous when loss making, or negligible profit tech stocks command £1b valuations and HUM sits on a forecast PE of 2.

[ukgeorge] 16/2/2018 08:13

They are not in commercial production!!!!Learn something about mining.

[croasdalelfc] 16/2/2018 08:09

Ok all in sustaining costs are $700 an oz - which gives .....

[qs99] 16/2/2018 08:05

Market likes it IMO

[jimbowen30] 16/2/2018 07:58

Zhockey - there is plenty of gold that will be added to reserves in time. £1 next year is definitely realistic.

[stealth wealth] 16/2/2018 07:57

Interesting.