Hummingbird Resources Share Discussion Threads

[peterpowell21] 30/5/2018 13:52

I think we are on to a winner with both.

[sleveen] 30/5/2018 13:47

Just need MTL news

[charles clore] 30/5/2018 13:01

Call me misguided if you like - but I am actually thinking that yesterday's news might even be translated as beneficial to the company and its investors. The action of the Mali Security Forces has given a clear demonstration of the government's commitment to miners, in particular Hummingbird where they have a stake in the company. This might encourage institutions to invest here that might otherwise be sitting on the fence for political reasons.

[peterpowell21] 30/5/2018 12:33

sleveen

That kind of thing happens all the time in Africa.
We only heard because it had to be reported because of AIM rules.
This will be back to 33p in a few days.
I thought it was madness people selling on that news.

[ukgeorge] 30/5/2018 10:55

double post...

[ukgeorge] 30/5/2018 10:55

Nice summary
From share price Angel
Company News

Hummingbird Resources (HUM LN) 30.5p, Mkt Cap £107m – Three killed in security incident at Komana West deposit

• The Malian National Guard has informed Hummingbird Resources of three fatalities of which two were Malian nationals following protests at the new Komana West site.
• The protests were organised by small a number of local people to disrupt initial site preparation works.
• Komana West is an extension to the 107,000ozpa Yanfolila gold project in Mali and sits within the mining permit around 20km from the process plant.
• ‘In recent days, a limited number of people in the local area have disputed the Company's plan, previously agreed with local community leaders, the Government of Mali's Ministry of Mines and local government, to extend mining operations within the Company's permit area to the Komana West deposit,’ the announcement reads.
• The Company understands the group of people acted ‘unilaterally’ trying to disrupt site preparation works for mining operations at Komana West.
• ‘The Company has been informed by the Malian National Guard that while upholding the rule of law, requested of them by the Government of Mali, a security incident occurred... very regrettably, we have been informed that this incident has led to the loss of at least three lives (two of which are believed not to be Malian nationals),’ the Company reported.
• All employees of the Company and contractors are said to be safe and processing plant continued to operate.

Conclusion: The Company highlighted actions of the involved group of people have not been supported by local community leaders and authorities and likely represents an isolated incident. The Company has been continuously and closely engaged with local communities during development and start of production stages of operation making sure the 'social license' is in place.

Mali has long been known as a mining friendly country with a hugely supportive government which is keen to create jobs and tax revenues. This is the first time we or our contacts have heard of a serious security incident involving locals on a mine in the region.

It is possible that tensions may have risen through a combination of hunger due to the observance of a religious festival coinciding with the end of the Mali dry season when land is being prepared for new crops.

[casual47] 30/5/2018 09:54

Holding up well. There were very large buys yesterday prior to the RNS. Looks to me like II loading up.

[charles clore] 30/5/2018 09:49

Plas - I have been filling my boots this morning under 30p. Never thought I would see another opportunity like this but sometimes fortune smiles on us in the most unexpected way.

[plasybryn] 30/5/2018 09:44

A big thank you to James if he reads this B.B. I saw his comments on Twitter.
And of course an even bigger thank you to Bert Monroe who is so approachable and supportive of us private investors.
Its a shock for everyone.
I do think the share price will recover.

[sleveen] 30/5/2018 09:36

I was fortunate to sell at 33p a few weeks ago and also bough back this am.

I don't think the Mali incident is a major issue.

[redtrend] 30/5/2018 09:15

This was a Government military operation, so HUM can not simply issue a RNS unilaterally.

There is no doubt a formal government investigation going on into the incident and so as not to prejudice anything, I assume HUM will need any RNS to be reviewed by applicable Authorities, before its issued publically. Or they simply have to wait for a formal press release from the Authorities to include in their RNS.

[charles clore] 30/5/2018 08:49

James Campbell very kindly posted on Twitter his telephone conversation with Bert Monro. My initial thoughts after taking what we know so far - are that this was a contained isolated incident with a) no impact on current operations, b) negligible impact on future mining operations and c) very little risk of further developments. Naturally we are all saddened by the resultant deaths but artisinal miners are known to be intransigent when it comes to giving up their stash, being the squatters of the mining world. A great opportunity here to pick up very cheap stock imho!

[zeberdie] 30/5/2018 08:41

Mali is on the same time as the UK. Its still early. I get what you are saying though.

[dogrunner11] 30/5/2018 08:39

It is hardly time for the company to start spooking market then going quiet on us either is it?

This is Africa, people get shot, whilst it is very sad and my thoughts are with the family etc etc, being honest I am more concerned about my investment.

I expected an update this AM, i consider that poor from company specially after the fall after yesterday’s RNS.

[zeberdie] 30/5/2018 08:31

Dogrunner. They are gathering factual information and showing respect to the families of those lost before putting anything out. Its not really a whoop whoop everythings great kind of event. ( no malice intended )

[dogrunner11] 30/5/2018 08:11

Poor form from company not to update following yesterday’s RNS.



Worth a read.

[peterpowell21] 30/5/2018 08:09

bought in here this morning.
What a great price.
I think

[ukgeorge] 30/5/2018 08:05

Well get your piggy banks ready looks like it is going to become even "cheaper"....... roll on q2 results

[wassapper] 29/5/2018 23:38

It is all fluff and nonsense. I guess they had to report it, but the mine is operating as normal, and the government will keep things on proportion. Sad that people have been killed, but there are few rules of engagement cards issued by the Malian forces. The French are there in strength and all problems are to the north.

[charles clore] 29/5/2018 19:35

corrientes - agreed gold mining is not without risk and as such rewards, when they come, should be correspondingly higher. The sector is currently unloved but should sentiment turn around we have one of the best junior mines in the world here

[corrientes] 29/5/2018 18:09

Gascoyne Australia similar, but no geo political problems there, though, who knows, other things could happen.

Seems to me buying gold shares is a dangerous game, no matter where, for any number of reasons.The small fry, with no real clout, are probably easier pickings for militants. Asia, Africa, South America; happens all the time. just got to be lucky. Hope this recovers quickly.

[chrismisson555] 29/5/2018 17:11

26p Would be a good entry point though; CEY punished severely today.

Why do we bother investing in Gold miners continuous pain

[ukgeorge] 29/5/2018 17:09

the chart has been pointing to 26p for weeks. extremely frustrating. After so much good news up until now. Why cannot just one single gold miner actually get into production and do well and make money.

[luckyvince] 29/5/2018 16:52

There will be a deal of support from the government thats for sure,but in the short term things will be a bit squeaky bum for all concerned.