Hummingbird Resources Share Discussion Threads

[new_buyer] 01/5/2019 14:48

BT no clue, you have absolutely no clue whatsoever. I’ll now leave this board to you as you are beyond help.

[chipperfrd] 01/5/2019 14:04

Good news on Dugbe at last.

Will take a few years and a large pre-production Capex to take it through development but a new project of this size is relatively rare in the gold space these days.

I look forward to reports on progress.

[ukgeorge] 01/5/2019 12:51

There is nothing to deramp.

[new_buyer] 01/5/2019 10:21

TBTT given up deramping on the LSE site so thought you’d do the same here?

[bookwormrobert] 01/5/2019 10:19

I've got to ask, 1SF, what paths, and to what destination?
Liberia is one of the world's most impoverished and corrupt countries.
Dugbe is a very high cost and difficult gold deposit - effectively worthless with the gold price as it is now (or anywhere near it).
The market has reacted with complete indifference to the announcement of the Dugbe MDA. I think quite rightly.
All that should matter for Hummingbird is operating Yanfolila effectively and generating some free cash flow - something that so far their greedy and incompetent management have completely failed to do. Surely, the real question here is can Hummingbird avoid having to raise new equity to strengthen the balance sheet ahead of the rain season?

[rickyhatton] 01/5/2019 09:15

Thanks 1SF.

[1smallfry] 01/5/2019 08:38

Liberia is about so much more than just gold , it opens up many paths

[1smallfry] 01/5/2019 08:33

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 07:27

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 06:58

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 06:50

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 06:49

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 06:48

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 06:35

"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 06:26

Bung of 1.5m

[1smallfry] 01/5/2019 06:23

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

[new_buyer] 30/4/2019 19:50

Jibbering idiot!

[new_buyer] 30/4/2019 19:03

To be honest he agrees with me 100%

[new_buyer] 30/4/2019 19:01

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

[new_buyer] 30/4/2019 16:17

Sands is a numbnuts

[borderterrier1] 30/4/2019 12:47

You are very welcome.