Hummingbird Resources Share Discussion Threads

[1smallfry] 01/5/2019 09:33

Rickyhatton , Liberian assets are already held by hummingbird Liberia , a subsidiary of hum the 10% the Liberian government get is only in the subsidiary company. So yanfolila is already protected

[rickyhatton] 01/5/2019 08:27

It is postive news! Either for sale, joint venture, development etc of the 4.2m oz. Value enhancing.

One hybrid option is to set up a separate entity or subsidiary, something like how Cora was construed, to develop it, giving existing shareholders full rights in the new company/subsidiary? That protects yanfolilia etc

"with this agreement in place, can now look towards taking the next steps at Dugbe in the best interests of all stakeholders"

[hydrogen economy] 01/5/2019 07:58

Meanwhile,

RNS Number : 6525X Hummingbird Resources PLC 01 May 2019


1 May 2019

Hummingbird Resources plc Mineral Development Agreement with Government of Liberia


Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM), is pleased to announce an update on the 25-year Mineral Development Agreement ("MDA") with the Government of Liberia ("GoL") over a land package of approximately 2,000km2, which includes the Company's 4.2Moz Dugbe Gold Project ("Dugbe").

[wskill] 01/5/2019 07:50

Probably the reason that it took so long to agree with GOL the very small signature bonus not a bad thing.

[fsjamescampbell] 01/5/2019 07:49

Solid news today! MDA was a big piece of the jigsaw and opens up HUM to a JV with much bigger fish! LOM extension on tha back of this news in a few weeks would be excellent and hopefully mark the start of a revival!

[plasybryn] 01/5/2019 07:48

Wasn't expecting that now, but what is the potential. No value for this potentially massive asset in the Market Capital. We all need to get our heads around the implications.

[rickyhatton] 01/5/2019 07:35

"Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM), is pleased to announce an update on the 25-year Mineral Development Agreement ("MDA") with the Government of Liberia ("GoL") over a land package of approximately 2,000km2, which includes the Company's 4.2Moz Dugbe Gold Project ("Dugbe").

The MDA has now been signed with the Government of Libera, attested to by the Minister of Justice, ratified by the National Legislature of the Republic of Liberia, approved into law by the President of the Republic of Liberia and published in handbills signifying the completion of all necessary steps for the MDA to become immediately effective. This will provide the necessary long-term stability and framework for the next steps at Dugbe. The Dugbe MDA is the first gold MDA to be negotiated with the Government of Liberia following a discovery in over 10 years and represents a huge milestone for both the Government and the Company.

Highlights
· 25-year renewable MDA signed with the GoL
· Provides necessary long-term framework for further exploration, feasibility studies, mine development, production and ultimately mine closure
· Initial three-year exploration term, with ability to extend MDA into additional areas with geological continuity
· Flexibility to develop more than one mine and continue exploration on a regional scale
· Fiscal terms include
o Stabilisation of taxes and duties for 15 years (the maximum permitted under Liberian law)
o GoL to be granted a 10% free carried shareholding in the project (HUM's post interest: 90%)
o Royalty of 3%, Income tax rate of 25%
o Initial signature bonus payable to GoL of US$1.5m
o Community development funds to be established in partnership with GoL and the communities."

[russiaguru] 01/5/2019 07:26

Bung of 1.5m

[1smallfry] 01/5/2019 07:23

Very positive news from hum this morning , potentially huge !!

[new_buyer] 30/4/2019 20:50

Jibbering idiot!

[new_buyer] 30/4/2019 20:03

To be honest he agrees with me 100%

[new_buyer] 30/4/2019 20:01

Nothing he’s ever said sgrees with anything you’ve ever said

[new_buyer] 30/4/2019 17:17

Sands is a numbnuts

[borderterrier1] 30/4/2019 13:47

You are very welcome.

[fsjamescampbell] 30/4/2019 13:37

Thanks BT - Your comments are duly noted.

[fsjamescampbell] 30/4/2019 12:00

Thanks for your vote of confidence in me and your compliment :)

[borderterrier1] 30/4/2019 11:52

Fsj. I'm as "poorly researched" as the rest of the unfortunates that invested here. Don't take my word for it, there are plenty more unhappy campers on the LSE bb. But I guess they are all "shirt lifters" and idiots for voicing their opinions? YOU are the only one on here that is "well researched". "Lucky" you!

[fsjamescampbell] 30/4/2019 08:05

You are poorly researched BT, you alone are to blame for your own investing decisions, you pressed the "buy" button and you live with the success or the failure!

Man up, sit it out and SHUT UP!

[borderterrier1] 29/4/2019 16:08

Fsj. Why FFS? This is going down, POG is going down big time. This "mining company" is a complete disaster, "managed" by a team of incompetent muppets. But that was EXACTLY the reply I expected from you. Of course you have bought at every strategic opportunity. Well done you!!!! Most of are not "lucky" enough to do that. You really are a "shrewd" investor Frank! But I am willing to bet that most of us who were not so "lucky" and those "invested" here wish they hadn't...…. me included. It was a stupid mistake for me to make, but as I have said before, it is only 10% of my portfolio. Putting money here for four or five years with the obvious incompetence from the existing "management" is a stupid mistake. Why would anyone do that? I did and I regret it.

[borderterrier1] 29/4/2019 12:11

Fsj. Of course. But because of all the hype from the brokers, Bod, news items, you and the like about what a good thing this is, many have "invested" at a lot more than that. GB is a good example. They may never see a return. What happened? Oh, of course, it was bad luck, wasn't it?
But the Ceo and management won't see it that way and they will still get their fat paychecks for their incompetence. Why should they worry? Truth is, they probably won't. This won't appreciate until they are removed. So now, once again, disappointed longtime supporters here pray for a glimmer of hope. We all hope that once again, the next RNS is a good one and finally this starts to head North. My gut feeling is that,once again, we will all be disappointed. Why? Because its tough to change something without changing the format. And that is what happens when the inexperienced dabble in things they know nothing about.