Hummingbird Resources Share Discussion Threads

[redtrend] 20/7/2018 13:23

Plas - you have a fair point on the FD who only has 148,235 since being appointed in July 2012 and Chairman who has only 53,955 since Nov 2014, so I take on board your point, no need to labour it ; ).

[dianecarberry] 20/7/2018 13:17

sub 30p tonight anyone ?

[plasybryn] 20/7/2018 13:05

Options mean nothing to be fair. It is when directors spend their own hard earned cash and buy shares in the market like ordinary shareholders that it shows they also truly believe in the story. He wasn't just addressing his question Dan of course.Why wouldn't directors want to buy shares if they thought the Co. was currently undervalued?
He only responded, in fact very politely, as his question wasn't really addressed.
My opinion is that Dan handle that poorly, but I won't labour the point.

[dianecarberry] 20/7/2018 13:05

Looking very bleak here after yesterdays poor update.

worth 22p max says my broker.

[borderterrier1] 20/7/2018 13:03

Once again, (according to Hargreaves Landsdown) big day of cross trading to keep the share price down.

[redtrend] 20/7/2018 12:59

It got his "hackles up" because the caller laboured the point and repeated it after being answered.

The caller didn't appear to take into account Dan Betts has 1.5% equity, or put another way, £1.5million invested! I doubt the caller has that much equity in HUM, I could be wrong.

As Dan Betts said, if he buys more, it is incredibly difficult for him to then sell if and when he wants to. As we all know, a Director sell, particular CEO sends the wrong signal.

Additionally, the Board have their options, so again why would they buy more shares on top of this?

So in my opinion in context, I thought his response was more than fair.

[new_buyer] 20/7/2018 12:57

de-rampers are some of the most vile human beings

[dianecarberry] 20/7/2018 12:51

Looking very bleak here after yesterdays poor update.

worth 22p max says my broker.

[plasybryn] 20/7/2018 12:40

Conference Call : - They were a bit touchy about buying more shares. Perfectly legitimate question but got his hackles up. Especially as the person who asked the question apparently owns more shares than the directors. Shame no one asked about the weak share performance since production started.
I think the Liberia asset could be sold and that would produce a nice bundle of cash to be paid to investors as a special dividend!

[redtrend] 20/7/2018 12:37

If you can't see the issue with Bunker Hill and why gold investors are reacting ("moaning") the way they are on HUM LSE board, there's no point labouring the point, I've stated clearly why I have issues with it - money better spent elsewhere in line with the business we invested in, not Lead and Zinc.

Regarding the options:

- I do think they have done a very good job and for performing their job the board are remunerated very generously, in line with industry standard for a company of their size, no issues there.

- Should the board and HUM staff as a whole enjoy benefit of generous options for their service in exceeding performance, of course! But again I've been clear what would be the usual practise for such options. Once again no use labouring the point if you can't see what is wrong with the options package.


Without a significant II or band of IIs (and I'm talking over 40% in total as IIs) who through their size can pressure the Board to act in shareholders interests, it is up to PIs to try and keep HUM on the straight and narrow, as it is all of our company after all. If you don't question the actions of the Board when you believe it is incorrect and therefore silence is deemed approval, mistakes will be repeated and more fool us.


Outside of these 2 items HUM have performed incredibly well, a mine on time and below budget and production results in line with original DFS estimates for 1st full year of production. I think a lot of other criticism aimed at the Board on the LSE board in particular has been unfounded, such as criticising Dan Betts for not buying more shares. He has huge amount of skin in game already, 1.5% worth and management as a whole 3%. But does that mean we can't criticise (sorry "moan") where there are anomalies? No.

[borderterrier1] 20/7/2018 12:31

peterpowell21. AT LONG LAST!!!! Somebody who is smart enough to understand what is going on here. Fsj. You need to shut up and listen to this guy. We all know from your incessant ramblings what the potential is and how much gold is coming out of the ground. The problem is exactly what peterpowell21 is saying and the problem for the small investors is how long the Bod will ALLOW IT TO CONTINUE without doing something.
Do they really care? I think not.

[meanreverter] 20/7/2018 12:25

Whatever the merits of company-focused arguments regarding the share price, the price of gold (in US dollars) has been performing rather dismally of late. In consequence, many chart-watchers and trend-followers are presently shunning gold-related investments, believing that there will be time enough to get on board (at a lower price, they hope) when there is evidence that the trend has started to reverse. Hummingbird is not immune to this background, which has affected many other junior miners.

[borderterrier1] 20/7/2018 12:23

Fsj. I am AGREEING WITH WHAT YOU SAY. But the SHARE PRICE is being manipulated. Don't you get it? Obviously not.

[redtrend] 20/7/2018 11:28

CC - I completely agree and hence why I stated the long-term story remains intact and I shall remain invested, however if the options were handled correctly (based on performance exceeding expectations, not meeting, and at a discounted, but reasonable share price option, with the company buying back shares to put in treasury for these options so there is no dilution) and they stuck to gold, not leftfield lead plays in US of A, we would no doubt be higher.

There are many things to spend money on, without need for such investments:

a) Paying Debt early: I know many are against this, but with a 50% penalty for early repayment, on a $60m debt facility this still saves HUM $3m in debt payments to pay it off early. If you add that plus the $2m spent on bunker hill, you have a $5m maiden div right there. Imagine that for sentiment.

b) Use the $2m to buyback shares for the options, so no dilution.

c) More drilling or other gold plays

d) Even with a JV for Dugbe, it will need significant funding from HUM's portion, no doubt from a mixture of new financing + cashflow. As much as possible we want cashflow rather than expensive debt.

[charles clore] 20/7/2018 11:15

Redtrend - I also find the 1p option debacle completely unacceptable but the fact remains that this company is going to throw off cash like nobody's business from next year so I will bite my lip and put up with the bod greed just like I have done with other grossly undervalued AIM companies. In principle it's a disgrace but we are here to make money.

[waylander1970] 20/7/2018 11:11

She's more of a bowel movement!

[moljen] 20/7/2018 11:08

Hi Diane, lovely to see you here as well as VRS as expect it's the forbearer to the share doing completely the opposite of your view. You're rapidly becoming my lucky omen for upward movements :-)

[redtrend] 20/7/2018 11:07

We're back to where we were because many are now digesting the leftfield Bunker Hill mis-step, which is causing annoyance from shareholders to the point some are selling.

I have not as long-term the story remains intact, but short to medium term this is incredibly frustrating.

Up there with the options mis-step.

[dianecarberry] 20/7/2018 11:06

rampers in my opinion are some of the vilest creatures around

[new_buyer] 20/7/2018 11:05

De-rampers in my opinion are some of the vilest creatures around

[dianecarberry] 20/7/2018 11:03

Update was very poor.

My broker says fair value 22p

[peterpowell21] 20/7/2018 11:02

The fact is we are back to where we were before the update.
Reason. Simple, the buyer and seller have agreed a price and until they are finished the share price will stay where it is.Who is selling and who is buying, we will find out at some stage. But not before the transaction is done.

[charles clore] 20/7/2018 10:57

Unhelpful fake rumours should be dealt with.

dianecarberry 20 Jul '18 - 10:37 - 3779 of 3781 (Filtered)