Hummingbird Resources Share Discussion Threads

[casual47] 22/2/2019 11:06

If the BOD wanted to demonstrate that they are not squandering shareholder funds and are committed to creating shareholder value by increasing share price they should set the 2019 employee incentive plan options at a conversion price of at least 30p.....

Another company I'm invested in (CGH) decided to do a revamp of the way they incentivise their employees and last December they set their forthcoming conditional options at 33p and 42p and committed to cancelling all existing options that are at a lower conversion price than those. The shareprice is currently 26p.

[casual47] 22/2/2019 11:04

R&R update is my #1.

Did anyone do a tally of what % of the 1p options are still left after all those conditional milestones for them were not met?

[laurence llewelyn binliner] 22/2/2019 10:30

#UKGeorge.. the penny options really grate don't they..!, but fact is the remedial work is almost done, the run rate is c10,000 Ounces a month and we are getting back on track..

The FY financials will be ugly taking into account Q3 and most of the costs but it's more about 2019 forward with no more mistakes as the new mill starts to add some of its 24% uplift in throughput.. debt will come down and clear the path for dividends in 2021, maybe 2020..

Q1 update early April is what I want to see.. :o), + The RnR for an LOM extension.

[ukgeorge] 22/2/2019 10:13

They will be getting their options at 1p a share though. Day light robbery. Total disdain for share holders!!

Having said that, should get some positive news flow soon. R&R update, remediation work complete, followed by Q1 results.

I wonder how the $2M they gambled is accounted for on the books? Perhaps instead of options in HUM they could be given the worthless Bunker Hill options.

The chart does look ready to pop higher.

[avsome1968] 22/2/2019 09:12

There's no way they will get dept down to 30m end of year don't get me wrong be great if they could as I've a decent stake here they've a lot of work to do that's cost to get were they want to be in the next 6 months that's without no more mistakes. Looking forward to the remaining drilling programme results this quarter.

[ukgeorge] 21/2/2019 11:07

A 333k @ 24.4p buy just went through.

[casual47] 19/2/2019 15:25

Before people start dreaming about a takeover let's find out what HUM is sitting on. The updated R&R and LOM will be published in the near future. Every infill drill increases the dollar value of the oz in the ground, it's the easiest and most cost-effective way for a mining company to add value.

[ukgeorge] 19/2/2019 14:18

Surprised these haven't ticked up a bit given gold is moving up. Given how dead the board is it seems most (including myself) are pretty fed up with the performance (lack of) by this company.

I guess positives to look forward to are an announcement that remediation work is complete. Possibly an increase in reserves.

Then Q1 results. Fingers crossed for circa 30koz and costs sub $1,000.

Might get us back to 30p.

The dream would be for gold to go on a decent run and for a Canadian intermediate to take the company over.

[borderterrier1] 18/2/2019 17:21

Fsj. Yes, but unlike you, he also speaks the truth. The SP/market proves it. Losing money might be "light entertainment" for you and the management, who are unfortunately, the real twerps here. I signed up for a position in a company that continually brags about promises they cannot keep. Like you also do. "60p written all over it" Remember? "Excellent progress????"

[borderterrier1] 16/2/2019 00:35

Moljen. As a share holder, my incessant whinging (over the same time period) is as justified as Fsj's incessant glowing testimonials are. He's always been spectacularly wrong but he still sings Hums praises. I on the other hand, have been right and admit to making a big mistake with this. Worst performing gold mine out there now.

[borderterrier1] 15/2/2019 21:37

Absolute BULLWHIP!

[ukgeorge] 15/2/2019 15:18

Market Cap (at 28.01.19) US$ 109.94M
Cash balance (at 31.12.18) US$ 21M
Debt repaid at end Q4 US$ 4.8M
Debt total at end Q4 US$ 61M
Ordinary shares in issue 351,826,899

2019 GUIDANCE
• Full year guidance of 110-125Koz
• and AISC of US$800-850/oz


The company AISC (including corporate costs) is likely $100 higher

So if they produce 110koz at $950 using $1,300 gold free cash flow will be $38.5M

Net debt from above is $40M and likely another $10-20M has not been put through the books. So call it $60M debt IR is likely around 8% so $5M per annum.

So by end year if everything goes to plan debt could be down to about $30M they will also be spending money in Liberia

Fingers crossed 2020 is as good as 2019 and the company could be debt free.

So possibly and it is a long shot 2021 you could get a dividend.

[plasybryn] 15/2/2019 14:53

Great Cape Town - BRR recorded presentation. Problems behind us. Very confident about the future and the current undervaluation.

[borderterrier1] 15/2/2019 13:25

Fsj. Of course it is. Like all your "knowledgeable" predictions on here. But read the peer comparisons between Hum and other gold producers. Impressive isn't it? That's why the share price is stagnant. Again. Perhaps a move N in 2020? But knowing this co's track record so far, perhaps not.

[borderterrier1] 14/2/2019 23:32

Fsj. I believe everything you say. Especially the fact that you were confidently telling us where this share price would be two years ago. Hummmmmmmmnnn? What happened?

[fsjamescampbell] 14/2/2019 13:23

BT - "Fsj. How many sells today??? Strange that there are 20 x more sells than buys for such a "stellar company". Perhaps you are missing something?"

BT you are an absolute fanny fart! Do you think if they were all genuine sells the share price would have finished 0.05p down........they were more likely to be share transfers of some sort, some sells yes but check the trades they were generally in pairs....

2 x 200k 2 x 600k so on and so on etc etc.......each trade was probably a buy / sell or an exchange hence the nominally zilch movement in the sp!

next........................

[fsjamescampbell] 14/2/2019 13:19

BMNSA - Gold poured to date is.........

2018 total gold poured = 91,620oz

January 2019 was stated at approx 10,000oz

Mid February so far it is safe to assume (midway through Feb) 5,000oz

total gold poured to date is 106,620oz

[ukgeorge] 14/2/2019 08:52

Lol dividends. Bit early to be taking hallucinogenics

[laurence llewelyn binliner] 14/2/2019 08:40

Time to add and just wait IMO.., we should have evidence that the company is back on track to 10,000 Ounces per month in April..

In the mean time we were +USD21M in cash, -USD61M in debt at FY2018
The company have also cleared the courts with the share premium account paving the way for dividends.

The new crusher will be online in 2019-Q3 taking us from 1MT to 1.24MT (+24%), and if that translates to the same in ounces 2020 is going to be where we take out the debt and move forward with dividends..!

Some of the pitwall remedial work costs have fallen into Q1-2019, so the AISC of USD800-850/Oz will reduce some in Q2..

[borderterrier1] 14/2/2019 00:17

BMNSA Unfortunately, that's anyones guess.