Hummingbird Resources Share Discussion Threads

[winning_analysis] 19/7/2018 09:54

HUMming to this audio track on the conference:

Hummingbird analyst and investor call today at 10:00am.

UK Toll Free: 0800 358 9473

UK Toll: [phone]

PIN: 64891530#

[chipperfrd] 19/7/2018 09:50

CC,

re update to my valuation table:

No, I need the financial report.

It may well be another month or so for the interim.

Chip

[jimbowen30] 19/7/2018 09:32

UK George - we are on a winner here long term, so short term moves are irrelevant to me. Recovery rates are fantastic too and I'm sure YF can produce more than 130k oz pa. Next up, let's increase those reserves at YF and wait for news on Dugbe. I'll be on the conference call at 10am.

[brucey6onus] 19/7/2018 09:23

Note from the their house broker this morning


Production beats on consistent run rate through 2Q18

Hummingbird Resources (HUM) today reported 2Q18 production of 33.1k oz, a solid 16% above CGe of 28.5k oz. Hummingbird also managed to sell an additional 5.5k oz with total gold sold for the quarter at 38.7k oz, over 30% above our forecast. Throughput was strong for the quarter with ore processed reported at 288kt, some 15% above our forecast of 250kt. Average head grade also came out to 3.43g/t, just 2% below our forecast of 3.5g/t. The mill grade at the end of 1Q18 was also around 3.4g/t, showing a sustainable higher feed grade to the plant over a four-month period. Guidance for the year remains at 105-115k oz vs CGe of 111k oz.

Recovery rates running consistently high at the process plant

Besides demonstrating a high throughput level and grade performance through the 2Q18 period, HUM also demonstrated that it can maintain a high level of plant output via consistently high recovery rates. The company reported 2Q18 recoveries of 95.2%after fairly consistently hitting the ~96 level throughout all of 1Q18. We have forecast recoveries only at the ~92% level for the 6-7 year LOM.

Costs already down at the sub-US$800/oz level

For the first full quarter of production, HUM has reported an all in sustainable cost (AISC)of US$790/oz, a significant 7% below our US$851/oz forecast for the whole of 1H18. The 2Q18 AISC is even below our full-year costs forecast of US$798/oz. With an average realised gold price of US$1,307/oz during the period, HUM has managed to deliver an over US$500/oz margin in the first quarter of full production. An impressive cost result leading the excess free cash in 1H18 beyond our forecasts.

Cash in bank comes in strong at US$46m

HUM also reported a cash balance of US$46m, over 20% above our forecast of US$37m at the half-year stage and up from just US$28m at the 1Q18 stage this year. With the company in FCF positive territory by early 2Q18 and debt repayments having already started in the May/June time frame, the company has managed to deliver sizeable cash balance gains. This leaves net debt at just US$15.6m at the half-year stage, below our US$18m forecast. All in, 2Q18 has proved to be a great first quarter of full production from both an operational and financial perspective.

[zeberdie] 19/7/2018 09:16

Rick, looks like a knocking bet they have already decided. Production sailing along and now time for a couple of Bolt ons. Im wondering what extra we will get 10 20 30%

[winning_analysis] 19/7/2018 09:13

Yup it seems like YF is a beast and we are simply not extracting its full potential yet. Very encouraging indeed. Remember to joint the call at 10AM - 45 mins aways.

[ukgeorge] 19/7/2018 09:13

"Update on cancellation of the Company's share premium account ('Cancellation')

As previously announced, the Cancellation would have the effect of creating additional distributable reserves, which would be used to eliminate any accumulated deficit on the Company's profit and loss account. Such distributable reserves may be used in the future for the purpose of making market purchases of the Company's own shares.

The Cancellation is now conditional upon the approval of the Court. This process is ongoing and it is anticipated that it will continue during H2 2018. Further updates will be given when progress is made."

Another positive

[rickyhatton] 19/7/2018 09:11

WA maybe related

"the Company is also reviewing additional capital investment programmes into Yanfolila that would potentially have the ability to increase the plant's capacity."

[winning_analysis] 19/7/2018 09:09

One of the questions i would love to hear about is how many circuits they have in place and operating. I believe we have two with a third one to come and from the sounds of it they have produced results from using just ONE of the circuits. Would love to get this confirmed on the call. If that is the case, then bringing the second circuit into play will produce much more in our next update.

Win_A

[ukgeorge] 19/7/2018 09:07

just added a few at 32.55p

[winning_analysis] 19/7/2018 09:05

YF was always going to be a biggie. The results have actually exceeded the expectations I had. The company is well on its way to recovery and 50p is a dead given as we move on to another quarter of strong returns.

Win_A

[charles clore] 19/7/2018 09:03

chip - will you have enough info to update HUM to give meaningful information in your miners thread?

[ukgeorge] 19/7/2018 08:59

Is that f ing down trend finally going to get smashed

[ukgeorge] 19/7/2018 08:58

Jim great results happy that my estimates was smashed :) roll on 50p

[chipperfrd] 19/7/2018 08:51

Well done to all the team at HUM!

Very rare to drive through a new project with such success in the PM space.

Excellent start to commercial production at Yanfolila.

Chip

[zeberdie] 19/7/2018 08:49

LOL Bunker hill.. Bunny hill is down Fatfield where we used to shoot Rabbits as kids.

[zeberdie] 19/7/2018 08:48

Small article on Bunny Hill
hxxp://www.spokesman.com/stories/2018/mar/12/settlement-could-lead-to-bunker-hill-reopening-new/

[winning_analysis] 19/7/2018 08:48

Got it James.

Hummingbird analyst and investor call today at 10:00am.

UK Toll Free: 0800 358 9473

UK Toll: [phone]

PIN: 64891530#

[winning_analysis] 19/7/2018 08:44

Thank you for the reminder James. Do you have the details to dial in please? I will most certainly be listening in.

The key thing about YF is the fact this is out FIRST full quarter of commercial production. Achieving results of this level in one quarter is absolutely stunning. Let the re-rate begin!

"Hummingbird's second quarter of production has been a successful one. It's been our first full quarter of commercial production at Yanfolila and we have delivered on forecast with high grades and strong recoveries coming through the plant. The team is running the mine exceptionally well and it is pleasing to see our successful emergence as a commercial gold producer. Our next focus is to prove that we can extend the mine life of Yanfolila by converting Resources to Reserves through the Group's exploration campaign, which is underway."

[fsjamescampbell] 19/7/2018 08:41

Chaps.........Don't forget there is a conf call today at 10am - Any questions you have get on there and ask them, this is the time to have an open one to one and see how they react to questions. No point asking each other, get dialed in and exercise this opportunity as shareholders!

[winning_analysis] 19/7/2018 08:35

It is not easy to buy these on a dummy trade but if you reference the size of the buys you can quickly decipher that the shares are finally landing into sticky hands. The share price will react positively hereonafter. Once the momentum build we should be targeting the 52 week marker. Cannot be in a more happier and safer stock backed up by the numbers.

[winning_analysis] 19/7/2018 08:27

The market hasn't twigged on how strong the Quarterly growth is with Hum. Something tells me we are about to finally going to see that 39p figure cracked over the next few sessions. One more quarter and effectively we go debt free and then years of profit thereafter. A hidden gem.

[jimbowen30] 19/7/2018 08:24

Well done HUM...fantastic results.

UK George - AISC of $790/oz, so you were way out :)

The share price is at least 50% undervalued imo but this will change over the next 12 months. Patience is the key as the whole gold mining sector is out of favour now.

[bittorrent] 19/7/2018 08:18

Maybe I spoke too soon, could easily sell all of my 66,000 shares when I tried a dummy trade, can't get a quote to buy at all!

[rickyhatton] 19/7/2018 08:17

Might be relevant.



"TORONTO, ON, June 19, 2018 – Bunker Hill Mining Corp. (the “Company” or “Bunker”) (CSE:BNKR) is pleased to announce that it has entered into a loan and warrant agreement with an arms length investor for an unsecured convertible loan in the aggregate sum of US$1,500,000, bearing interest at 10% per annum, maturing in one year. Contemporaneously, the Company agreed to issue 2,294,835 share purchase warrants, entitling the lender to acquire 2,294,835 common shares of the Company, at a price of C$0.85 per share, for two years."