Hummingbird Resources Share Discussion Threads

[borderterrier1] 06/6/2019 18:22

New_idiot. Its obviously not your bag either! You're to only one on here that supports this now. Question:- Are you Dan Betts?

[redtrend] 06/6/2019 15:46

Zhockey - mine life was 7 years, with 5yrs forecast for LoM extension with higher grade Gonka.

So now you're probably down to 5.5yrs (maybe bit more as production has been lower than forecast due to various technical issues) and a revised LoM plan is due sometime in June. Whether it will include full 5yrs extension or in steps not sure. I wouldn't expect a full 5yrs straight off, who knows.

Separate to Gonka and more long-term, there's other exploration potential at Yanfolila, further afield you have Cora exploring relatively close by and you also have AGG (2.2m Oz resource, listed on TSX) which HUM nearly reached an agreement with a while back. HUM were right to back out of the AGG deal, but longer-term it's definitely a potential acquisition target and the AGG feed could then be trucked. AGG has collapsed to circa £5m market cap in total and don't see how they could survive alone. So perhaps later HUM can poach them up.

But short-term the HUM Board have a lot to sort out and prove, hence the low share price So whilst I'm invested, it's hard to recommend at present due to the high risk. But of course as it's high risk, likewise the share price is heavily discounted, so potential for high reward in event HUM can sort out the myriad operational issues, which one would hope are a thing of the past.

So I assume most potential investors will wait for LoM extension update and Q2 Quarterlies in July. Sustainable Capital seemed confident enough to increase their holding to 12% at the 14p mark.

[new_buyer] 06/6/2019 13:18

stick to writing about jam and toast borderterrier, investing is obviously not your bag!!

[borderterrier1] 06/6/2019 12:56

New-idiot Please look at the share price What don't you understand??????

[new_buyer] 06/6/2019 11:43

UKGeorge I await with baited breath, looking forward to your summary!! Bit touchy today aren't we?

[zhockey] 06/6/2019 11:34

No views on mine life?

[ukgeorge] 06/6/2019 10:29

Okay NB just for you tomorrow I will go through 2018 results to highlight some of the major issues with this company. The problem with you and fsj is you wind people up and there is an incredible amount of information to discredit this company. The share price is at an all time low and a rights issue is a real possibility. Just think one morning soon you will likely wake up to a rns and your holding being worth 30% less an say 100m or 200m more shares in issue. All the best :)

[new_buyer] 06/6/2019 08:29

Unlike yourself George, still waiting!!

[ukgeorge] 06/6/2019 08:10

Thats the first sensible thing you have posted ;)

[new_buyer] 06/6/2019 07:47

If I am a PR Company Account then I would suggest I am not very good at my job!!

[new_buyer] 06/6/2019 07:12

UKgeorge/TBTT/BWR ever considered that like yourself I might have a different poster name on different boards?

UKGeorge have you seen any posts by me that say the 1p options are acceptable? And like you say fingers crossed the company has turned things around in Q2.

As for borderterrier, well nothing more needs to be said about this idiot than has already been said by many many people before!!

[bmnsa] 05/6/2019 16:31

POG flying again today

[zhockey] 05/6/2019 08:28

What's the latest view on mine life here?

[ukgeorge] 05/6/2019 06:44

Gold $1333, given yesterdays turnaround in sp, I think these might mange a rise today. Will make a change to the norm.

[borderterrier1] 05/6/2019 02:50

Questions for Goldenbull from the LSE bb:- Do you drink excessively?

[borderterrier1] 04/6/2019 22:59

New_buyer And your comments are?

[ukgeorge] 04/6/2019 21:29

NB try and defend this........ they can steal 20% of the company....at 1p a share lol great company.

Also note they pay circa $6M in debt repayments (interest, 9%) each year and need to pay $20m (capital payment) this year. Good luck when they lost money in q1. Roll on the rights issue.



hxxps://hummingbirdresources.co.uk/wp-content/uploads/2019/06/HUM-FY2018-Annual-Report.pdf

read pages 66-69p

the Company granted options to certain group employees and directors of the Company under the rules of HIPPO, subject to a maximum dilution limit of 20% of issued share capital.

love this

" 25% on 31 December 2020 taking into account safety, business development, individual targets and demonstrated exceptional personal performance
as determined by the CEO."

[borderterrier1] 04/6/2019 19:03

Perhaps they need a third ball mill now? DB logic.

[redtrend] 04/6/2019 14:26

For those who may not have had a chance to read the recently released Audited Accounts, see extract from Page 63 below. Importantly is the second paragraph below regarding the undrawn Coris Overdraft facility, completely separate from the Coris Second Ball Mill facility.


====================================

Coris Second Ball Mill Facility

On 26 November 2018, following approval for the construction of the Second Ball Mill at the Yanfolila Mine, the Group’s subsidiary, SMK, entered into a senior secured term debt facility with Coris for CFA 5,500,000,000 (approximately $9,600,000).

On 28 December 2018 SMK drew down the balance of the facility. The debt facility has the following key terms:
• A 2 year term.
• Interest at 9% per annum (payable monthly).
• Principal deferral period of 12 months from first draw down, payable monthly thereon.



Coris Overdraft Facility

On 26 November 2018, the Group’s subsidiary, SMK entered into an overdraft facility with Coris for CFA 5,500,000,000 (approximately $9,600,000), to provide additional working capital flexibility. The Coris Overdraft Facility carries an interest rate of 9% per annum and remains available twelve months from date of signing. This facility was UNDRAWN as at 31 December 2018.

Security for the borrowings was granted to Coris over the assets of SMK, a parent company guarantee and restricted cash held in an escrow account (note 16).

The Group records and measures borrowings at amortised cost, using the effective interest rate method.

[borderterrier1] 04/6/2019 14:24

Hum "built a goldmine on time and on budget." Great achievement.

[ukgeorge] 04/6/2019 14:14

At least gold is doing okay :) https://www.kitco.com/commentaries/2019-06-04/Dollar-Breaking-Down-Signals-Start-Of-Gold-Breakout-Drive-Above-1400.html Frank grow up.

[fsjamescampbell] 04/6/2019 14:09

bye tiger don't let the door hit you on the way out.....oh and please take your pets with you ukterrior and bordergeorge.............good riddance :)

[bookwormrobert] 04/6/2019 14:03

Redtrend!
Read the RNSs and you'll see that you are wrong. And yes, Gascoyne was pumped hard on the LSE board of HUM a while back.
Anyway, can't you hear what the HUM share price is screaming at you?
For the rest, I can't be bothered with you. You really have no idea what I am and am not invested in.
p.s. There is at least one clear instance of libel in your post - trust me, I've been trained in such things. So you would do well to be more careful.