Hummingbird Resources Share Discussion Threads

[plasybryn] 18/5/2019 06:01

From twitter And now today, civil works on the second mill are 100%... great to see such progress

[borderterrier1] 17/5/2019 18:31

new_buyer This share price is now close to a TEN YEAR LOW. Do you think that is because:-

1. This is a great company with a fabulous, experienced management team and Ceo.
2. This is run by a team of incompetent, selfish, inexperienced management.

A simple YES or NO please. Thank you.

[new_buyer] 17/5/2019 18:19

moneyfornothing1 and here is the crux of why Borderterrier should be ignored. “nobody would feed you fake information on purpose with this” despite the facts Frank uses are all from RNS”!!! A complete tool our Borderterrier!

[andrewsr] 17/5/2019 16:52

A 5 year mine life is just a tad absurd in view of 2.2m oz resources being converted to reserves and the investment in a new ball mill. +400,000 oz to add this year.
Clearly, costs need to come under control, but AISC is just guesswork until they reach a steady production rate.
If you make very conservative estimates at every turn, you will end up with an absurd valuation.

[borderterrier1] 17/5/2019 16:23

Fsj. "I believe my posts to be factual and balanced" Really? Of course you do. As the company mouthpiece, nobody would feed you fake information on purpose with this, would they? To pump the price up? Oh, shock, horror!!!! Of course not. That would be misrepresentation. And that's illegal.................isn't it?

[borderterrier1] 17/5/2019 16:12

New_Buyer But at least if you did that, it would be a UK PHONE NUMBER right? I know it isn't easy for you, but please try very, very hard to think about what I am saying here? It shouldn't be too hard to figure out, even for you? But then again, after this length of time you and Fsj still think Hum is a good investment so maybe it is. It's always hard to argue with an idiot, they always beat you with experience. And some fell on stony ground....................?

[ukgeorge] 17/5/2019 16:03

Current market cap is £54M and they have debt around $56M so current value of Hum is just shy of £100 or $127M.

The company are targeting circa 120koz per annum with mine site AISC around $850-900. They also have head office costs of around $100. However these are targets and they have been missed for the last three quarters.

For arguments sake lets say they start hitting these targets.

120koz at a cost of $950 (being generous) margin of $350 could be $42M in fcf. Now costs are likely to rise from $950, harder ore, higher strip ratio, so going forward fcf ceritus paribus will likely decline lets say it averages $30M over the LOM.

The mine life is likely only 5 years now so potential for about $160M of fcf. Tax rate 25%, company fcf $120M.

Yes the mine life might get extended but the current picture is not great and this is assuming a swift turn around from the last three quarters.

Also throw into this that the BOD will only invest at 1p. The current price is probably fair if not a bit toppy. The liberia asset is uneconomic and should not be developed it is what they like to say provides optionality to the gold price....

[borderterrier1] 17/5/2019 15:14

moneyfornothing1. Fsj and New-buyer suspect I'm a guy called Terry Border who apparently writes childrens books but all they need to do is pick up the phone to verify that. Neither of them are very bright, you see? Except when it comes to Hum. They both think its a great company. That should tell you something?

[borderterrier1] 17/5/2019 15:09

new-buyer. Wrong guy but please give me a call if that's what you really suspect. And BTW re. "hits target price" from your last post. Is that the "Target price " that Beaufort suggested, price of 60p before they were prosecuted by the FBI for pump and dump schemes? Or was it the TP of the new broker Cannacord? Perhaps they should stick to playing tiddlywinks because their projections are a bit off wouldn't you say?

[moneyfornothing1] 17/5/2019 15:08

marmalade on toast? What am I missing?

[new_buyer] 17/5/2019 15:04

borderterrier1 so based on "what you know that no one else knows" where do you see this share going? And if you feel it's going to 5p why would you hang around when you are such a great investor? Maybe just write another book about marmalade on toast!!

[borderterrier1] 17/5/2019 14:59

New_buyer I am "soo negative"? I wonder why? Perhaps it's because more and more investors are commenting on about what a total waste of time this is because of the poor management and continual downward spiral of the SP? Surely, if this WAS as good as you and Fsj say, wouldn't the share price be moving N before now? And I know you struggle with big words but once again I will spell it out for you. To date I H-A-V-E L-O-S-T N-O-T-H-I-N-G. Until I S-E-L-L. Please get Mummy or Daddy to explain that to you.

[borderterrier1] 17/5/2019 14:35

moneyfornothing1 I am heavily invested here. This was my portfolio gold pick to replace Acacia mining and my Hum investment is 10% of my portfolio. And I know more about this than most, including Fsj. My gut feeling now is that, unfortunately, we have all been conned by "patchy" financials, rash decisions, stupid mistakes and arrogant behavior from an inexperienced team of muppets. Please don't expect to successfully DYO research with this or at least before you do attempt that, research who sits on the Bod and oversees the audits. As others have said on here Fsj is a paid mouthpiece.

[borderterrier1] 17/5/2019 14:30

Fsj and New-buyer. You are both conceited enough to believe that you know everything there is to know about this. You are, however, mistaken if you think that you know everything I know about this.

[new_buyer] 17/5/2019 11:36

moneyfornothing ignore borderterrier he is a paid deramper! He spewed bile all the way up to 39p and has continued since! For a self confessed "best selling author" he has not had an original thought once!!

randompath seems to sum things up well but I believe there is still light at the end of the tunnel and as for bookwormrobert/TBTT he flounced out of here months back in a hissy fit yet continues to come back here and deride a share he no longer owns!! Always found that a bit strange personally but suspect he will be back in once the share price hits his target price.

DYOR don't take everything here as gospel but the BH decision was a vert off piste one that seemed to please no one...ho hum you can see bad decisions everywhere (Barclays/Libor,VE/emissions) but BH seems a stupid decision that cost $2m (I assume they won't get there money back on this).

Oh and every time that borderterrier says I told you so take it that he didn't, his claims about being in the know are laughable and he is very bitter at Frank for some reason......

[moneyfornothing1] 17/5/2019 11:29

Well that escalated quickly but lots to research further.

bookwormrobert you say that "The share price is where it is as the market suspects that HUM will have to raise emergency equity shortly." and you say it with some degree of certainty. Are you invested here?

borderterrier you seem to be quite angry, you seem to accept that you made a poor decision investing here, are there not other opportunities elsewhere to reclaim your money?

fsjamescampbell you certainly seem to divide opinion!!

Still weighing this up but think at 15p it might be worth a little dabble but more research required yet !

[borderterrier1] 17/5/2019 09:55

randompath. What you say here is consistent with my findings. I have many friends in the UK and two years ago what I was told was very similar. Get rid of the Ceo. He is running this for his personal benefit with complete and absolute disregard for anyone else, management, shareholders included. I have been telling share holders this for some time now and without exceptions, shot down EVERY TIME by Fsj.

RE gold starting to fly. It won't until the US economy goes down and I have reason to believe that won't happen anytime soon. Shareholders need to make noises here before it is too late.

[randompath] 17/5/2019 09:39

I will add a few point relevant bookwormrobert's earlier post, then I'll wish everyone luck and sign off from this thread for good as I no longer have an interest here. I attended a HUM AGM (not recorded or broadcast as far as I'm aware) to see what the management was like in person. I find this helps get a feel for people, especially when management are talking amongst themselves before commencement, although clearly its very subjective. I had three observations, which I chose to ignore, but shouldn't have. 1) Russell King (non-exec chairman) came round, shook everyone's hand and said hello. Initial impressions were good. However, when he was speaking he made a comment about HUM to the effect of "at the end of the day, this is Dan's baby" (may not have been his precise words but something very similar). This immediately hit a nerve with me as the non-exec chairman has a responsibility to keep the other executive directors and the entire board accountable - I worried that Russell's comment was inconsistent with the effective performance of his responsibilities in respect to DB. 2) Before the meeting, DB appeared to make an audible comment to a couple of people in the room which suggested he had interests in other African businesses which were not part of Hummingbird. I did not follow this up, but this is maybe a point investors should clarify to ensure they fully understand whether the CEO is directing 100% of his working energy towards Hummingbird or is very busy with other interests at the same time. 3) At one point during the meeting, DB referred a question to the FD, and I observed that the FD somewhat fluffed the start of his response by essentially repeating something DB had just said. DB appeared to screw his face up in response to the FD's remarks, which I thought was pretty unprofessional and unsupportive - not something indicating a strong board that is respectful of one another. All of the above represents my observations and opinions only. I'm providing this purely to give other investors pointers to think about before committing funds and I genuinely wish the company and investors the best. If gold starts to fly, I'm sure this stock will perform very well in any case.

[borderterrier1] 17/5/2019 08:34

Plasbryn. Good luck with that.

[plasybryn] 17/5/2019 08:31

Surely this is a great gold leverage play. With high costs (ok decreasing) any rise in the gold price will kick in the leverage advantage. I'm hoping this quarter will see everything back to where it should be and with an oversold position the future has potential imo.

[borderterrier1] 17/5/2019 08:27

Fsj. Not just me and bookwormrobert, lots of other disillusioned shareholders here now. I'm happy to discuss the "merits and pitfalls of this stock" followed by "If in 5 years we are stuck at 10-15p then it might be time to evaluate". ???????? That statement alone proves what an absolute, pathetic, idiotic moron you are Fsj. And a perfect match for the comparable attributes of the people that "manage" this company. Pathetic.

[fsjamescampbell] 17/5/2019 07:41

Bookworm....."Paid company spokesman" ha ha, that has made me smile somewhat.....Not one of my posts has been misleading, i would counter that by saying that your speculation is misleading and damaging, another example of a man who lost his money and has decided to stick around knocking the stock. I suggest you move on, you are like a pining teenager hanging round your first love's house trying to catch a glimpse of her through the window!

Happy to discuss the merits and the pitfalls of this stock with anyone, sad fact is you and the likes of BT cannot appreciate the highlights of HUM and empathise with the bad luck that they have experienced. BH was a disaster and i have never said it wasnt but it is a drop in the ocean in comparison to the potential of Yanfolila and the grand scheme of things.