Hummingbird Resources Share Discussion Threads

[ukgeorge] 30/4/2018 15:11

The Sukari mine produces 600koz per annum and has 20Moz of reserves hardly comparing apples with apples.

[redtrend] 30/4/2018 15:04

Centamin are a 1 trick pony... Hasn't hurt them.

If HUM prove the free cash flow and AISC forecasts are as advertised over the next few quarters and continued exploration successfully extends LoM, the company and share price will do incredibly well.

After commercial production has only been achieved today, find all this talk about "one trick pony" bizarre

[qs99] 30/4/2018 14:31

As with all these things, it is all about management and delivery. One trick pony at the moment, but needs to expand its reserves. As it delivers, share price should rise IMO helping it to raise money and through FCF to fund exploration and maybe the odd takeover of other under performing assets. To be fair to management to date they have promised and delivered to those promises. Long may that transparency continue!

[darola] 30/4/2018 14:30

Recording of this morning conference.

[ukgeorge] 30/4/2018 14:27

I guess one worry is how much oxide ore is available and then if the laterite ore will achieve the same recovery rates.

The call is now on the website

[roguetreader] 30/4/2018 14:25

Chip
I agree, $53M FCF in year 1 will be a great achievement. I was a bit stumped by their statement in the Feb 2018 Presentation when they stated they would look to achieve $70M FCF in the first full year of production - as none of my attempts at modelling the numbers came anywhere near that number, without making assumptions around an increase in the gold price.
RT

[catsick] 30/4/2018 14:14

Interesting point is that news itself does not push prices up only strong actual buying can do that, good news comes and generally with aim shares we are more likely to see capitulation than a strong rise, most aim holders are waiting for a kick from news and will bail out when nothing happens, long term investors can build nice positions as you now can here , I have been buying again today as a lot more risk is removed from the position but not many other punters have ....

[chipperfrd] 30/4/2018 13:26

Well done to all at Yanfolila for making such a success of this start-up :-)

All looks to be well on course to hit initial targets (extrapolating from the March figures).

If their estimation of 15% of FCF equating to US$8m is correct, then 100% of FCF of c. US$53.3m for their 1st year in production would be outstanding!

I have no problem with the options. Compared to what goes on elsewhere it is relative peanuts. People need to remember that without entrepreneurs like Dan Betts there would be no company to invest in at all!

The first tranche vesting looks pretty demanding. Based on the March figures, I get an estimated 116koz of gold produced over 12 months. To do 100koz in 9 months looks tough, but nice if they can get there.

re Liberia assets: I have wondered if the new management of ASO might work out a deal with HUM although I suspect that ASO would only want 100% ownership. We will have to see what eventually transpires at Dugbe.

Chip

[bo doodak] 30/4/2018 11:43

HUM are also still actively exploring all options to unlock the value in Liberia, but recognise its really to big to fund themselves at present.
Dan said he hopes to announce something on this within the next year.

On the Pageant question, while the answer was obviously non-committal, I read it as indicating they likely won't sell out completely

[qs99] 30/4/2018 11:39

Darola Indeed. Am holding on for a much bigger beast....!

[darola] 30/4/2018 11:22

More importantly, if the new management deliver we will be much bigger than a one mine outfit. Whilst the call didn't infer they were directly to support company growth, it's pretty obvious you don't bring in resources of that pedigree just to help derisk a one mine outfit - that's the real story here. What will HUM be two years from now?

[qs99] 30/4/2018 11:18

actually there are production, cost/gold price targets in there but I agree, it seems overly generous, but is it not subject to a maximum dilution of 5%?

They have got a great asset to production on budget and on time, but this does smack of overly generous rewards.

Perhaps the next awards can have a base price of now, etc etc.....

DYOR etc. but if the current management can continued to deliver then ALL shareholders should benefit massively IMO again DYOR

[charles clore] 30/4/2018 11:12

I cant believe this. The way the price is behaving we could end the day RED!

[darola] 30/4/2018 10:55

It was being recorded so expect it to be available for playback.

[ukgeorge] 30/4/2018 10:52

Did anyone dial in? I couldn't

[qs99] 30/4/2018 10:01

Or Pageant to stop selling? Decent volume again today, let's hope they are near the end of their off-loading....DYOR but only then will we start to see a rise. Management IMO seem on the case, so I am sure their IR is catching up and getting instis interested...DYOR

[zeberdie] 30/4/2018 09:53

Needs more people to get interested in the story thats all.

[luckyvince] 30/4/2018 09:25

Call me old fashioned,but i was expecting a far better reaction share price wise.

[catsick] 30/4/2018 08:57

The asic is not mentioned but the employee option scheme is discussed and these dont pay out if the asic is above 750 usd, there is zero vesting above so I would assume they expect to be comfortably below that for the remainder of the year, it looks like they are probably generating $7.5 mio a month minimum cash and spending 750k of that exploring , with a low point cash balance of 29m usd they have plenty of money to open up a new mine soon

[qs99] 30/4/2018 08:14

Well with a decent AISC, IMO this should be paying debt down pdq in first 2 years and with 15% of FCF focused on reserves, what's not to like? Let/s hope POG can keep its upward trend...HUM was nearer 40p not so long ago, so now with commercial production, IMO we should trend back towards that DYOR

[catsick] 30/4/2018 08:04

He is a nutter who comes from a family of nutters !