Hummingbird Resources Share Discussion Threads

[napoleon 14th] 24/9/2018 09:52

Very good results. POG not positive..... for now.
SP not reacted. I hold and not selling any.

[casual47] 24/9/2018 09:51

AISC is really only meaningful when it is the full year average AISC.

As with a lot of miners, the difference between quarters can be huge. E.g. for Centamin in 2017 H2 cash flow was nearly double that of H1, gold production in H2 was 33% higher than H1. So AISC, gold output and cash flow can fluctuate quite a bit. It's pretty nonsensical to look at an isolated period and consider that the measure of the thing.

[casual47] 24/9/2018 09:34

Not sure how you can paint these results poor, considering this is their maiden year and q1 included the ramp up towards commercial production.

The grades are good, the AISC is good, to be cash flow positive in first couple of months is good.

Also not sure how you can use this to explain "drift".

Need to wait for FY results to really begin to be able to say anything meaningful. Until then it's still very much speculative and whatever fits your wagon.

[ukgeorge] 24/9/2018 09:22

Pretty poor results. Explains the constant drift.

[wilmot] 24/9/2018 09:12

Surely this is massively under valued. What am I missing? Or is the market missing this opportunity?

[boystown] 24/9/2018 07:39

Yanfolila alone generating equivalent gross revenues of $123m (£94m), $46m cash (£35m) vs. mkt cap of £94m.

Nuts?

"Dividend" not even mentioned though. I understand why and have read what they've said before, but surely it would be the right time to state, more accurately, their intentions?

[borderterrier1] 24/9/2018 00:15

As Darola put it:- "It's imperative for Hum to show that is running the company for its share holders, not the vanity of the Bod." Or words to that effect. Really? You are joking, right? Good luck with that.

And I see that on the LSE board TBTT is now saying that Beaufort Securities (prosecuted by the FBI for fraudulently pumping share prices up) could have had an impact on the share price here? Really? Didn't an idiot called BT suggest that about a year ago? Perhaps all you "savvy investors" should have taken more notice?

[rayrac] 23/9/2018 11:13

Yes I know goodgrief. But what I think of the ceo here and the ceo at Opti don't bear comparison, he’s probably one of the trolls and a bullshyter too.


manc1022 Sep '18 - 20:20 - 330 of 331 (Filtered)

[goodgrief] 22/9/2018 23:12

Got yourself a troll!

[rayrac] 22/9/2018 20:09

Not a mining guru by any means. But having watched/listened to the ceo, then that really impressed me. I thought he came over as very genuine.

Impressed

[goodgrief] 21/9/2018 12:46

They're planning to cancel the share premium account to allow for share-buy backs (and ultimately dividends), but I think they aim to pay off debt first and fund conversion of resources to reserves getting and keeping mine life up to 10 years.

[qs99] 21/9/2018 12:41

needs a financial update to help IMO, let's see. If you like the golders, then CEY has just breached £1 and IMO looked way oversold...DYOR...

[goodgrief] 21/9/2018 12:40

Some context on the ball mill... he mentioned that as they start to process hard rock and less of the softer oxide layers the throughput of the existing set up would have fallen with the introduction of hard rock. So the ball mill enables them to maintain throughput even with the harder rock. Good forward planning, I'd say.

[goodgrief] 21/9/2018 12:35

BH was described as a world-class asset.

[rickyhatton] 21/9/2018 11:33

"Important point is that the $13m for the ball mill also includes $8m that was baked into AISC calculations for a crusher, so it’s just added another $5m to forecast overheads"

Thanks for that Darola, I wondered what the effective crusher offset would be. At $8m (more than i expected) it would have been good practice to have put that important context in the RNS

Was their Cora "synergy" explored at all? Or BH?

[darola] 21/9/2018 10:44

Another key point to note. Retail holders (PIs) have dropped from 35% of the register to 25% this year, so while PIs have been selling iis have been adding. A little bit of self fulfilling prophecy.

[darola] 21/9/2018 10:40

Bert said they’d be further drilling news in the Q3 update. He reitterated they were still on target for 105k+ this year, and had 33k a quarter been sustainable their forecast would have been higher. If 25k is right, then we should expect 18k + 33k + 25k = 76k, so 29k+ for Q4.

Important point is that the $13m for the ball mill also includes $8m that was baked into AISC calculations for a crusher, so it’s just added another $5m to forecast overheads. They decided a ball mill was a better option to give them some extra throug put - he stated with this they could sustain 120k+ for the life of mine.

[casual47] 21/9/2018 10:03

Thanks. I suppose we should see more action re. shareprice nearer to those times.

[ukgeorge] 21/9/2018 09:59

From the RNS

In excess of 10,000 m of the planned 50,000+m drilling campaign has been completed to date of which results have been received from the first 3,000m of drilling completed. It is anticipated all the drilling will be completed during Q4 2018. Drilling is yet to start at Sanioumale East and West; both deposits have resources currently defined and once drilled will provide an immediate and substantial source of oxide ore.



I'm not sure what the turnaround time is for the assay results (guessing) 6-8 weeks. It isn't really normal to give drill results out all the time rather than that we can expect a reserve resource update once each deposit has been proved up. I would guess we should have one update in mid late Q4 and another in Q1.

[casual47] 21/9/2018 09:48

UkGeorge, were there expected timelines for any of these milestones?

[casual47] 21/9/2018 09:46

$1000/oz to support seasonal mining difficulty and have drilling to extend LOM on top is not bad.

[rileyma] 21/9/2018 09:45

many thanks ukg

[ukgeorge] 21/9/2018 09:40

The presentation was pretty good. No real material news.

The debt repayment schedule is $20M per year and currently near enough $60M.

This quarter has been the wet season in Mali so production is not going to match Q2. So second guessing I would think around 25koz. Due to this and the start of the drilling campaign I would guess AISC are going to be close to $1,000. However Q4 production should be higher and with it costs lower.

Drilling has been ramping up from one drill rig to now four. The target is to add 400koz to reserves. There will likely be a couple of announcements in due course when each pit has been proved up.

Anything else Daniel, Frank?

[ukgeorge] 21/9/2018 09:40

The presentation was pretty good. No real material news.

The debt repayment schedule is $20M per year and currently near enough $60M.

This quarter has been the wet season in Mali so production is not going to match Q2. So second guessing I would think around 25koz. Due to this and the start of the drilling campaign I would guess AISC are going to be close to $1,000. However Q4 production should be higher and with it costs lower.

Drilling has been ramping up from one drill rig to now four. The target is to add 400koz to reserves. There will likely be a couple of announcements in due course when each pit has been proved up.

Anything else Daniel, Frank?