Share Name Share Symbol Market Type Share ISIN Share Description
Hummingbird Resources Plc LSE:HUM London Ordinary Share GB00B60BWY28 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 8.33% 26.00 25.00 27.00 26.50 24.00 24.00 876,358 16:23:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 91.4 -9.1 -2.3 - 91

Hummingbird Resources Share Discussion Threads

Showing 8026 to 8047 of 9875 messages
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DateSubjectAuthorDiscuss
25/8/2019
07:55
Thanks for the detailed response borderterrier1 .
kennyp52
23/8/2019
18:39
kennyp52. As you say you are new to this board. Perhaps you should have taken the time to read some of the comments from others from 2 1/2 years ago, not just mine. At that time, many investors were as positive as you are. But here we are still waiting for the share price to move N.
borderterrier1
23/8/2019
18:13
Taking the results apart then at least they are generating cash and making significant finance repayments ( both loan and lease ) - see the cash flow statement . Don’t know how much their planned CAPEX is moving forward but they say they still have an undrawn 10m facility . So cash isn’t the issue . Big depreciation reserve is hammering the P&L figures but this doesn’t really bother me if they are near the end of mine development costs . £4m extra inventory will be valued at cost so with POG having been $1400 to $1500 since then some held back profit up the sleeve there , good management IMO . I’m lucky to have bought in recently on this so no historical loss but I see this moving up quite nicely after the H2 results . Good luck all .
kennyp52
23/8/2019
17:37
I do. As I have repeatedly said, I MADE A MISTAKE by investing here. But I accept that fact instead of talking this up like others do year after year. Would you rather I post continual positive posts here like some others do? The power of suggestion doesn't work.
borderterrier1
23/8/2019
14:33
I agree. But after this share price being 39p before "mine completion on time and on budget" in July 2016 to where it is today, no one in their right mind could call this a "shrewd investment" could they? Me included. The share price was 26p three years ago in August 2016 when this was just a hole in the ground (with a liar at the top?) so it could take another two years from today to get back to the dizzy heights of 39p. For a total 4 1/2-5 year investment things are not improving. But of course, it isn't the Ceo or Bod faults is it? But who would you put the blame on? Bad luck, rainy season? And all the time the "management" enjoy their large salaries and share options.
borderterrier1
23/8/2019
14:10
It's not good news, it's not bad news. One couldn't even call it news per se.
redtrend
23/8/2019
13:26
Once again, "good news" produces a negative result on the share price Wake up guys. After almost three years now this is going nowhere. Complete dog.
borderterrier1
23/8/2019
13:21
Lol if the news was that good why are we down, management cant be trusted been so many let downs over the years, hope they can turn a leaf and produce the goods next 12 month we shall see. Just a small holding here just in the blue, fingers crossed gold keeps strong also.
avsome1968
23/8/2019
10:31
Redtrend, might be prudent for them to do a refinance anyway and provide some headroom to take out more debt if needed. Doesn't mean they have to draw it all. An increased LOM, updated R&R and the proven production should unlock financing at much better terms than what they got so far.
casual47
23/8/2019
10:26
Casual - if they hit guidance I don't think they'll even need to use the $10m undrawn facility for working capital. Having said that in the short-term they may dip into it, as Trade Payables is quite elevated at present to work through all the Capex. Funnily enough it's the exact same facility bookworm adamantly stated didn't exist. On refinancing, I don't think any will be needed for Yanfolila alone (again, if they hit guidance). Have no qualms though if they take additional financing out for Cora acquisitions, other M&A or Dugbe.
redtrend
23/8/2019
10:19
Oh dear the usual suspects show up who don't have a clue about accounts or simply intentionally making misleading and false statements. Perhaps ignorance is a defence. As Andrew states liabilities like "lease liabilities" are covered by AISC - it's simply new reporting requirements required by "IFRS 16", on how the books are presented. For HUM it's effectively an upfront snapshot of working capital/ trade payables. Bookworm you honestly have no shame. When Goldibucks recently sold out of JLP (appears to be the only accountant who posted on that thread), you turned on your usual melodrama about losing respect for him and why he was still posting. Low and behold, here you are. Most don't need geography lessons here, but Mali is an incredibly large country. The north is dangerous, central area has regional problems, but is full of UN troops and some inter-regional fighting has given way to cease fires and tentative peace treaties. The south where Bamako and Yanfolila are safe in comparison with no such fighting or security issues. If some were a bit more nuanced with potential negatives, you could raise the issue of potential changes in VAT law in Mali. Such law if enacted though will take time, be fought by the bigger miners and in a gold bull, if HUM get their house in order meeting guidance, it doesn't change the fact HUM is significantly undervalued.
redtrend
23/8/2019
10:14
Thanks for the clarification.
andrewsr
23/8/2019
09:44
Don't see a need for placing as gold production in the next 12 months plus the overdraft facility should be enough. A refinancing would be normal and seems a strong possibility especially when they get the new LOM update.
casual47
23/8/2019
09:08
Sleveen, There's no mention of additional finance required, so DB's statement 'forecasted positive net cash position during 2020' is false according to you, which seems a bit unlikely. Some clarification is needed. Probably some of the current liabilities are included in the AISC (?).
andrewsr
23/8/2019
09:06
Hi Sleveen! I make it that you're right. Not as bad as Avesoro, but still a pretty ugly situation. Hopeless mismanagement from exceedingly greedy and clueless public schoolboys. Best way out would be for the company to put itself up for sale. Mali security situation also steadily worsening. As I'm definitely NOT shorting any gold stocks, even a turkey like this one, given gold is now in a bull market, it's not worth spending any more time on this particular miner. Lots of better ones around.
bookwormrobert
23/8/2019
08:55
Leasing $19 million, partly to finance ball mill. I had thought Coris had offered a loan for the ball mill and that there was also an additional facility of $9 million which was undrawn. Am I right to assume that this $19 million is the alternative finance and that effectively, the overdraft facility has been drawn (contrary to explanations)?
charlieeee
23/8/2019
08:46
Most of the current liabilities will be included in the AISC. So, clearly, no placing or re-financing required.
andrewsr
23/8/2019
08:43
net current liabilities of $92m v net current assets $30m = $60m current liabilities +$10m G&A/interest. so $70m to find but cash generation from ops only $36m (@ 65k oz * $550 and that's generous) The clue is in the word CURRENT, those need to be paid in the next 12 months of which most will be within 6 months. net debt is a useful metric but also includes longer term debt (ie more than 12 months)and it should be used with other metrics to gain an overall picture of the financials. So refinancing and a placing alongside needed.
sleveen
23/8/2019
08:39
andrew net current liabilities of $92m v net current assets $30m = $60m current liabilities +$10m G&A/interest. so $70m to find but cash generation from ops only $36m (@ 65k oz * $550 and that's generous) The clue is in the word CURRENT, those need to be paid in the next 12 months of which most will be within 6 months. net debt is a useful metric but also includes longer term debt (ie more than 12 months)and it should be used with other metrics to gain an overall picture of the financials. GL
sleveen
23/8/2019
08:29
'Cash of US$8m and net debt of US$43m at end of Period, keeping the Company on track for forecasted positive net cash position during 2020'. '3,500ozs of gold inventory worth approx. US$5m at end of Period Undrawn US$10m overdraft facility in place' Clearly, no placing or refinancing required.
andrewsr
23/8/2019
08:22
Totally agree with you sleveen, market not too impressed either, Hum also working through the rainy season this Q hope its not as 2018.
avsome1968
23/8/2019
08:02
Negative current liabilities of $60m., + $10m in G&A and interest. Cash generated by 60k oz @ 500 op profit in H2 = $30m. Going to need a refinancing and a placing alongside that.
sleveen
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