Hummingbird Resources Share Discussion Threads

[moneyfornothing1] 20/5/2019 12:14

That seems to me to be part and parcel of investing in AIM companies, higher risk and reward and why I will only ever invest a small part of my portfolio here. If you can't research the company properly you are taking a stab in the dark in my opinion.

[borderterrier1] 20/5/2019 12:11

moneyfornothing1 More investors than me have hinted on here that their judgement was swayed by Fsj. After all, he did win the competition to visit the mine and he put a glowing, lengthy report on here about his visit. His companion on the trip was another investor, who commented some time ago on here that he was "sick as FK" or words to that effect, of the progress made since the visit. I got my fingers burned with a fledgling oil co. in the US several years ago that bore remarkable similarities to this in as much that the financials were always "patchy", inconclusive and they were overseen by a board member with doubtful contacts. Remember, not all information is available on the Internet and parts are often removed.

[moneyfornothing1] 20/5/2019 11:11

borderterrier I still have more research to carry out before I get to the point here of forming my own opinions, will check out the Betts family too but would be surprised if they could influence investment companies but like I say more research to do yet.

You seem to role out that quote about the lair on top quite often LOL. You certainly don't seem to be a fan of fsjamescampbell, did you get taken in by what you say was misleading information and was some of that from him?

[borderterrier1] 20/5/2019 10:51

moneyfornothing1 If only it was that simple. Under "normal" circumstances, a Ceo with a track record with a co. like this would have been removed, don't you agree? And if you don't agree, why not? Perhaps the Betts family, with their long involvement in this industry have clout in other areas? Please read the glowing testimonials back in the early days when this was just a hole in the ground. Where did all that "information for investors" come from? Information that has since proved to be completely misleading. Misleading for virtually everyone who invested here early with the possible exception of Fsj the co. mouth piece and mine visitor that by his own admission has now accumulated more shares because he "luckily" knew when to sell.

And don't forget that since mine completion, this share price has steadily deteriorated. Why?? It wasn't because of the security breach. It wasn't because of bad weather. It wasn't because the supply bridge washed out. It wasn't because of the involvement in BH. The share price was deteriorating long BEFORE all that happened. Why? Any ideas? Look at what is happening with Cora right now and always remember the quote from the 1880 gold rush in the US:- "a goldmine is a hole in the ground with a liar at the top". And at the end of the day, the 10 year chart says it all.

[fsjamescampbell] 20/5/2019 10:24

Little rise so far today......nice to see

[moneyfornothing1] 20/5/2019 09:21

What makes you think it is a strong possibility?

I would assume that if it was to happen it would have been when all the bad decisions you say were taken came to bear, which surely means the middle of 2018 don't you think?

[borderterrier1] 20/5/2019 09:16

moneyfornothing1 I agree and I did say exactly this in another post on here a couple of weeks ago. I think (depending on the next update) the Ceos removal is a strong possibility and I would welcome that decision.

[moneyfornothing1] 20/5/2019 09:03

borderterrier PI's have little leverage but II's certainly do. Would you not think that if the II's wanted the CEO removed they would not be able to do it?

If you think they have the power and they have not removed the CEO it might possibly mean that maybe they are not as unhappy as you certainly are with him. We will never know what they think until any action is taken but just a thought.

[borderterrier1] 20/5/2019 08:33

Redtrend Good post above. I would suggest that some of UKG's negative sentiment would be factoring in frustration for "all the problems experienced". IMO with an experienced team some of those problems should have and could have been avoided. Paying high salaries to a Ceo who obviously doesn't know what he is doing and who is even more obviously hiring the wrong team here smacks of gross inexperience/arrogance and disregard to the shareholders. Its a very poor show and it will continue until the man at the helm is removed. We, the long time shareholders have been patiently waiting for the faint glimmer of hope that (despite Fsj's continual ramping and support ) never comes. Changes need to be implemented for that to happen. Disaster Dan Betts has had long enough.

[redtrend] 20/5/2019 08:09

Whilst I agree with some of UKG's negative sentiment there are key items that are not correct:

1) If you try and normalise HUM Market Cap to include for its gross debt, you also have to include its cash position and has to be Net Debt basis ($43m Net Debt).

2) G&A costs outside of Yanfofila AISC of $100 per Oz is just a made up number. AISC includes all G&A costs. The exclusions are Non-sustaining Capex & Exploration, Dugbe and any other costs not linked to Yanfofila. Once the Ball Mill costs of $13m and recent non-sustaining Exploration Costs of $8.6m are worked through the books (a lot of it is fresh and still hitting the books), the reported Yan AISC will be closer to actual cashflow estimates.

3) The Mine Life as per the Plan was 7yrs even without Gonka and other extensions. So as a minimum you would have 6yrs left, not 5. Quite a sizeable difference when people calculate P/E and what multiple to use.

4) When calculating Tax, you must include for substantial depreciation/ amortisation of capitalised costs which will significantly reduce profit in the books and therefore the tax.

So whilst I would agree the share price is currently "fair value" for all the problems experienced, it's not "toppy" by any means. Although let's see what next raft of news brings: Annual Accounts should be soon, as should LoM update. But of course the key update will be Q2 2019 results.

[borderterrier1] 20/5/2019 07:23

Fsj. Perhaps I'm somewhere else? Can't wait to see where the share price goes today. As usual, I'm sure your friend Disaster Dan has everything under control. Yanfofailure!!!

[fsjamescampbell] 20/5/2019 07:01

No.....you love me you peanut butter smeared weirdo.............Anyway why you posting, isn't it the middle of the night in the US....?

[borderterrier1] 20/5/2019 06:59

Fsj. Perhaps its because regardless of how bad this company performs you still support Disaster Dan and Yanfofailure. I wonder why?

[carlsagan1] 19/5/2019 14:33

ii will be increasing fees again from June 10th.

Its long overdue I transferred out from this broker.

If anybody can recommend a cheaper broker let me know.

I am considering going to iweb-sharedealing(Halifax) for a fixed £5 a trade or X-O(Jarvis) for £5.95, neither have monthly, yearly, or inactivity fees like ii

[borderterrier1] 19/5/2019 13:56

napolean 14th. I agree, the Ceo here needs to go immediately and I am really surprised he has not been removed before now. Unfortunately, regardless of the glaringly obvious, complete idiots like Fsj and New_Buyer are still hanging around to convince us all he is doing a great job. And they both think that I'm an idiot for suggesting that he needs to be removed........ but the current share price confirms it. It's strange World we live in these days when people abandon objectivity in favor of sentiment. It is DB's baby after all and investors are suffering here as a result of his selfish ends.

[cpap man] 19/5/2019 12:50

KAV



Some nice words in the morning note from the highly respected mining analyst John Meyer at share price Angel ref: LSE:KAV / www.kavangoresources.com /Tw*tt*r = #KAV



Kavango Resources (KAV LN) 3.6p, Mkt Cap £5.7m – Laws of probability to be rewritten after Kavango strikes mineralisation in first and second drill holes under Karoo sand in Botswana

Kavango, which is exploring for a large-scale bushveld igneous-type mineralisation reports results from a second drill hole in Botswana.

The team which are highly experienced in the geology of the region have used geophysical data and remote sensing to establish drilling locations.

Remarkably, the first drill hole hit mineralisation under the sandy Karoo sediments
Even more remarkably the second drill hole is reported to have also hit mineralisation including copper in chalcopyrite with a 1.5% XRF gun reading. X-Ray Frequency gun readings are not considered to be reliable due to their potential for miss-reporting but we do place some value on the readings when in the honorable hands of Messrs. Foster and Moles.

The first drill hole hit a 200m zone of intensely altered rock with indicative cobalt values of up to 0.9%, averaging 0.2% cobalt and >70m of elevated copper, zinc, lead and nickel values.

Conclusion: Kavango is worth watching and we await results from drill core assays. While we never doubted the skill of the geological team we are surprised and impressed to see two sets of mineralised results in so short a time frame. Well done team!

[napoleon 14th] 19/5/2019 12:37

I have "quite a few" HUM & a 55% loss in 2 years.
The weather has caused problems, but as avsome1968 points out, there's plenty of company failures in the minerals sector as a whole. I sold 80% of SDX @ c. 40p - phew!. Their CEO Welch got booted out, like VOG's, & it's what the two deserved.
I would not be dismayed if the same happened here!

I think reason says to wait for Q3 results & review in the light of that.
I won't pretend I have any enthusiasm left, just trying to evaluate the risk/reward in HUM, & on evidence so far that's a hit & miss situation

[borderterrier1] 18/5/2019 08:26

rileyma. Thank you. We'll need it with this management and Ceo. I guess they are gathering experience along the way? But then why would they pay themselves such ridiculous salaries? Wouldn't it be better to employ experienced guys instead? I mean genuinely experienced, not this shower.

[rileyma] 18/5/2019 08:15

Watching on the side lines with interest
Sept last yr all still ok,heavy rains indicated
Lower prod issues
Issues indicated oct 25th,wheels fell off following day 26th with q3 report

Theres no rush to invest here certainly
Before q3 report this year,at which point all should
Become a lot clearer

Good luck to existing holders

[borderterrier1] 18/5/2019 07:42

replicas1967 I guess you mean in 2025 when they have addressed all the other problems? Don't forget they can't even get the ore out of the ground and meet targets in Yanfofailure.

[replicas1967] 18/5/2019 07:28

Maybe if they process Cora ore in future? Who knows ?

[borderterrier1] 18/5/2019 07:10

Plasbryn After such a stellar performance to date from this "experienced" team perhaps they should order another one?

[plasybryn] 18/5/2019 06:30

Was it due to lack of experience or more associated with extreme weather conditions? What ever, lessons have been learnt no doubt, and it is hopefully now time to move forward. Would you give them any credit for getting the ducks back in order and the ship back on a steady path in pretty short order. The next Quarterlies will give us a good insight. Plus exciting plans coming together as forecast for the second ball Mill.

[plasybryn] 18/5/2019 06:01

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