Hummingbird Resources Share Discussion Threads

[borderterrier1] 21/10/2019 16:09

oohrogerpalmer. You said it:- "but stay in on the hope that they recover." Exactly. Obviously, I hope this will but my confidence in the Ceo here is gone. Others share my opinion. Except of course, NB. It shouldn't be too difficult to figure out why.

[oohrogerpalmer] 21/10/2019 15:34

BT,
If you really think what you post then sell up and move on.
We all buy shares in companies that don't perform as we hope but stay in on the hope they will recover.
But you just keep spouting out your doom, ok you may be right but if you are why the hell are you holding on for more losses!!!!!!!

[dickbush] 21/10/2019 14:37

borderterrier1, these ARE great results. If you read the RNS as anything other than this, you need new glasses. To get the share price really moving up we need a continuation of a $1500 plus gold price and no events to put a dent in the trend of production over the next 12 months. The latter is not something that investors are going to take as given after 2018's disasters. You pay your money and take your chance.

[borderterrier1] 21/10/2019 14:27

QS99. No, this is normal for this. The market knows.

[qs99] 21/10/2019 14:23

big old volume, was up 2p at one point, now only up 0.5p, did I miss a negative in there?!

[plasybryn] 21/10/2019 14:15

Dan Betts interviewed by Justin Waite on Vox Markets today

[borderterrier1] 21/10/2019 14:06

You are extracting the U right? So this is the news we have been waiting for and the share price responds by going up 0.50p? Who's the fool now NB? At this rate the share price will be 30p in another two years and you guys believe these are "great results" Wake-up. This is a disaster.

[rickyhatton] 21/10/2019 12:37

Nice graph on Hummingbird Resources Twitter

[rickyhatton] 21/10/2019 12:35

The macro RNS context is worth noting in terms of potential to add value,and revised LOM can develop significantly as more ore becomes economical to mine at high gold prices,and with a large exploration footprint.

"Yanfolila held pre-production Probable Reserves of 710,535 ozs @ 3.14g/t, total Resources of 1.8M ozs of gold and an additional 390,700 ozs of non-compliant exploration potential. The Dugbe Gold Project has Resources currently totalling 4.2M ozs of gold and a completed NI 43-101 compliant PEA on the project showing a 29% IRR and US$186m NPV at a US$1,300 gold price.

In addition to Hummingbird's production and development assets, the Company also has an exploration footprint of 4,000km2 and is a shareholder in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal"

[new_buyer] 21/10/2019 11:05

VH, some people just look for the negatives!!

[dickbush] 21/10/2019 10:18

Great results!

AISC down to $849/Oz, the first time they have been in their target range since the second quarter of last year. Net of gold price achieved and AISC is $573, a record. Taking into account the volume of gold poured, gives a net of circa $17.5mil versus $8.5mil in the 2nd qtr. Rounded out by a decline in net debt (including gold reserve) from $38mil to $25mil. If, big if, they can keep this net gold price v AISC, it should be debt free by the end of the first qtr.

I don't think we could ask for anything more - except for the gold price to be $1,500 plus.

[redtrend] 21/10/2019 10:16

VH - the accounts do spell out that D Betts received $486k of remuneration for FYE Dec 2018. It's explicitly stated on page 32 where all directors are listed with their remuneration.

D E Betts and the Betts Family already own about 2% of HUM, management as a whole 3%.

If a fund manager breaches his own corporate governance and doesn't make the required declarations internally within Capital Group in this case, of a personal holding, that is his issue, not HUM's. One could argue many things and of course HUM knew about Capital's investment in HUM as it was over 3% (they once owned 8% - they divested all their holdings in companies less than £100m few months back). Even if Betts did know the fund manager had a 2nd personal holding (big if), he can't 2nd guess to know whether or not said fund manager correctly declared this within Capital Group itself. The CEO has better and more important things to do than deep dive and investigate issues not in his remit, responsibility nor liability.

It's been an incredibly long, frustrating process following the Force Majeure events to get company back on track. But it does feel like things are finally heading in right direction and falling into place, both with the company and externally with gold price.

[value hound] 21/10/2019 09:50

You could – at a stretch – argue that LLB. But you could also argue that the merest whiff of any kind of financial scandal at any listed company is so often a death knell.

You could also argue that the founder-director in question had to know about these two transactions.

Is that Mr. Daniel Betts, Executive Director and CEO by the way?

For 2018, according to the AR; “The total remuneration of the highest paid director is $486,000”. Even that is worrying as they don’t spell out who that is, exactly, unlike almost every other company ever! Again, it must be the above, but given that the company is so cheap etc., why doesn’t he spend any of his c.£375k p.a. buying shares in any significant qty?

[laurence llewelyn binliner] 21/10/2019 09:31

#VH... he was a fund manager who set up his own shadow fund, tried to keep it secret, and got caught, he knew well the regulations against it..

You could argue that he thought it was such a compelling investment case that he wanted a piece of the cake for himself..!

[value hound] 21/10/2019 09:07

So is our company dodgily run?

"In the case of Hummingbird Resources, Mr Denning appeared to have another potential conflict of interest as the company was set up and run by his son-in-law."

hxxps://www.bbc.co.uk/news/business-50089887

[parsons4] 21/10/2019 08:49

Just bought in once again, looks a good proposition from here GLA

[new_buyer] 21/10/2019 08:42

Great performance, long may it continue!!

[new_buyer] 21/10/2019 08:41

Darola, is that a rhetorical question?

Great set of numbers, hope the share price reacts but still think LOM extension and a second mining operations is whats needed to really push this forward in a BIG way.

[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?