Hummingbird Resources Share Discussion Threads

[substp] 21/10/2019 08:29

Hummingbird mentioned

[wskill] 21/10/2019 08:21

Now with the gold price steady we may see something happening with Liberia it would be the icing on the cake.

[aim999] 21/10/2019 08:17

Spot on.....this is Q3..... wait until we have an amazing Q4 with 2nd ball mill in operation all quarter with hopefully a better gold price ...

[darola] 21/10/2019 08:15

Abstract lesson in investor patience. How many have sold here that would - and will be - much better off had they held?

[kennyp52] 21/10/2019 08:08

Impressive figures

[aim999] 21/10/2019 08:05

Also good unhedged to benefit from increase in gold price ..... quids in

[qs99] 21/10/2019 08:04

Should be through 30p IMO. DYOR, but if POG holds up around the $1,500 then this should be throwing off very material EBITDA. Throw in the debt free position in the near term, possible acquisitions, new resource to LOM extension and why not get this through 50p once market wakes up to it? DYOR

[rickyhatton] 21/10/2019 08:00

As redtrend highlights
In 3 months they now have $8m more cash and $6m less debt
So $14m rebalancing in just one quarter! Huge cash generation

[avsome1968] 21/10/2019 07:47

Costs are well down really happy with that should dept to 45m good chunk paid, expect 10-15% gain today

[avsome1968] 21/10/2019 07:46

Hummingbird Resources PLC Q3 2019 Update
21/10/2019 7:00am
UK Regulatory (RNS & others)

Hummingbird Resources (LSE:HUM)
Intraday Stock Chart
Today : Monday 21 October 2019

TIDMHUM
RNS Number : 4590Q
Hummingbird Resources PLC
21 October 2019
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc
("Hummingbird" or the "Company")
Q3 2019 Update
Hummingbird Resources (AIM:HUM), is pleased to announce its results for the quarter ended 30 September 2019. Strong operational progress has continued for the fourth consecutive quarter. Production has increased to 30,484 ounces ('ozs') of gold poured in Q3, and costs have decreased at the Company's Yanfolila Gold Mine ("Yanfolila").
Yanfolila Q3 2019 Operational Highlights
-- 30,484 ozs of gold poured, (27,466 ozs in Q2 2019)
-- 81,757 ozs of gold poured year to date
-- US$849/oz AISC, (US$998/oz AISC in Q2 2019)
-- Average grade of 3.23 g/t, (2.86g/t in Q2 2019)
-- 30,373 ozs of gold sold at an average price of US$1,422/oz
-- Second ball mill fully commissioned and operational during the quarter increasing plant throughput by 20%
-- 1,000,000 injury free hours recorded at site
Corporate highlights at 30 September 2019
-- Cash of US$16m (US$8m at end of Q2 2019)
-- 2,800 ozs of gold inventory on hand worth approx. US$4m
-- Bank Debt of US$45m down US$6m in the quarter (US$51m at end of Q2 2019)
Outlook
-- 110-125,000 ozs production guidance for 2019 maintained
-- Due to be debt free by end H1 2021
Dan Betts, CEO of Hummingbird, commented:
"We are pleased to report that for the fourth quarter in a row production has increased and costs have decreased. The Company continues to improve both from an operational and balance sheet perspective. Hummingbird remains an unhedged gold producer offering our shareholders full exposure to the current strong gold price and a strengthening financial outlook as we forecast to become debt free by the end of H1 2021.
The commissioning and operational performance of the second ball mill was also pleasing to see over the quarter following its successful construction on time and budget. We will begin to see the full benefits over the coming quarters as we are able to manage a higher throughput of fresh ore.
Q3 2019 is the wettest quarter of the year and we are particularly pleased with how the team has managed this period during the quarter, especially when compared to the corresponding period last year. We anticipate Q4 to be another good quarter and we are maintaining our production guidance of 110-125,000 ozs of gold production for 2019."

[rickyhatton] 21/10/2019 07:39

Great RNS - Production up, AISC down, gold sale price up

Longer time they are looking at a LOM to 2030 and beyond which is seriously good

AISC going forward is seen as being targeted around $850, as per this quarter results, with the additional ball mill and higher grade such as zonka helping sustain that.

Aiming to be cash positive by mid 2020, and debt off the balance sheet by mid 2021.

1m oz of known resources to date outside current mine plan estimated to be about 55% mineable, so that's minimum another 550k oz of gold to add in to current 2025 LOM.

Cora synergy may well be another LOM bonus to come

[qs99] 21/10/2019 07:29

roll on a materially higher share price then! GLA

[aim999] 21/10/2019 07:27

Correct.... the top end guidance is 43,000 oz if sold at $1,500 with AISC of $850 we will be quids in at the end of Q4.....

[rickyhatton] 21/10/2019 07:27

"Hummingbird Resources (AIM:HUM), is pleased to announce its results for the quarter ended 30 September 2019. Strong operational progress has continued for the fourth consecutive quarter. Production has increased to 30,484 ounces ('ozs') of gold poured in Q3, and costs have decreased at the Company's Yanfolila Gold Mine ("Yanfolila").


Yanfolila Q3 2019 Operational Highlights
· 30,484 ozs of gold poured, (27,466 ozs in Q2 2019)
· 81,757 ozs of gold poured year to date
· US$849/oz AISC, (US$998/oz AISC in Q2 2019)
· Average grade of 3.23 g/t, (2.86g/t in Q2 2019)
· 30,373 ozs of gold sold at an average price of US$1,422/oz
· Second ball mill fully commissioned and operational during the quarter increasing plant throughput by 20%
· 1,000,000 injury free hours recorded at site

Corporate highlights at 30 September 2019
· Cash of US$16m (US$8m at end of Q2 2019)
· 2,800 ozs of gold inventory on hand worth approx. US$4m
· Bank Debt of US$45m down US$6m in the quarter (US$51m at end of Q2 2019)

Outlook
· 110-125,000 ozs production guidance for 2019 maintained
· Due to be debt free by end H1 2021

Dan Betts, CEO of Hummingbird, commented:
"We are pleased to report that for the fourth quarter in a row production has increased and costs have decreased. The Company continues to improve both from an operational and balance sheet perspective. Hummingbird remains an unhedged gold producer offering our shareholders full exposure to the current strong gold price and a strengthening financial outlook as we forecast to become debt free by the end of H1 2021.

The commissioning and operational performance of the second ball mill was also pleasing to see over the quarter following its successful construction on time and budget. We will begin to see the full benefits over the coming quarters as we are able to manage a higher throughput of fresh ore.

Q3 2019 is the wettest quarter of the year and we are particularly pleased with how the team has managed this period during the quarter, especially when compared to the corresponding period last year. We anticipate Q4 to be another good quarter and we are maintaining our production guidance of 110-125,000 ozs of gold production for 2019."

[redtrend] 21/10/2019 07:21

Wow. For rainy season (even a normal rainy season) was never expecting a production figure in the 30,000s.

And an improvement in net debt of 14m in 1 quarter?! Am I reading that right. If so that's amazing. Cash up by 8m to 16m and debt down by 6m (51m to 45m).

So Net Debt of 29m (previous 43m), with 4m of gold inventory on hand. At this rate be Net Cash by end of Q1 2020.

[dozey3] 21/10/2019 07:20

AISC down by almost 15%, and that’s with the new ball mill hardly operating over the quarter. This is seriously undervalued imo.

[qs99] 21/10/2019 07:18

looks like a great update IMO. Debt down to $45m and debt free guidance early 2021. Cash position improving. Plenty of $s in future therefore IMO to keep drilling, buying other assets....DYOR

[aim999] 21/10/2019 07:15

Great Q3 results it is ..... Q4 guidance is 28-43,000 oz and hopefully at a better GP than Q1-3 ..... quids in lads

[multibagger] 21/10/2019 07:10

Mark Denning and Hummingbird Resources....

[aim999] 21/10/2019 06:42

Results day perhaps .....

[new_buyer] 18/10/2019 16:43

Enough said!

[moneyfornothing1] 18/10/2019 14:45

New_buyers point didn’t need making but I’d imagine borderterrier has just reinforced it!!

[qs99] 18/10/2019 13:50

thanks for the heads up. I'll keep looking here as well as LSE. Mark up today, IMO bodes well for next week so happy to continue to hold GLA

[borderterrier1] 18/10/2019 13:26

NB. This was 39p three years ago. Most of the original "contributors" have abandoned ship because of that, not anything to do with comments they read on here. Its called poor management. Read dropinmonkeys post today on the LSE bb re. "management reputation". What don't you understand? BTW what exactly were my "lies and conspiracy theories"?