Hummingbird Resources Share Discussion Threads

[laurence llewelyn binliner] 06/12/2019 09:44

Nice... we like those II additions don't we.. :o)

[avsome1968] 06/12/2019 09:30

Maharishi Ramp increasing holding by 1% hmmmmmmmmmm nice increase before 4Q update

[borderterrier1] 05/12/2019 15:57

Charleeee Sorry, but I agree with hlare. In the industry I was in, I have seen this same scenario many times. Son of successful company gets a college education and decides he will try his hand. Unfortunately, reading books is no substitute for hands on experience and that, coupled with narcissistic tendencies, results in eventual absolute shambles. Of course, this is pure speculation on my part and we will never know the truth. But there may be others out there that do know the truth? Perhaps this is indicative of languishing SP? We will never know.

[hlare] 05/12/2019 15:29

True when management have a large holding its usually from very generous founder/vendor shares topped up with lavish milestone shares and options etc, so you can take the other side of the argument and say it shows they haven't got their snout in the trough, but you cant argue that having a paltry 3% stake aligns board and management with shareholders. Whatever the nationality, my main point is experience and track record are rather important.

[charlieeee] 05/12/2019 15:10

hlare

Utter drivel and have you ever stopped to analyse, where management DO have larger holdings, how those have arisen?

If you really want the "Aussie MD" in charge, I would suggest that you go to the direct comparable, KEFI, to see what value has been built there during his tenure.

Whilst I have contempt for brokers as a breed, I doubt that even those over paid public school boys could manage such crass comment.

[borderterrier1] 05/12/2019 14:44

hlare At last, someone on here who makes sense. After this length of time, Betts needs to be removed, sooner rather than later. He can't cut it.

[lasata] 05/12/2019 14:39

Large trade gone through... Ruffer increasing stake??

[hlare] 05/12/2019 13:16

My biggest issue with HUM is the board and some of the points BT1 alludes to. The fact total shares held by board and management is only 3% of shares outstanding, is basically unprecedented in a junior miner and does raise serious question marks around management not having skin in the game, and potentially treating it as a play thing. Mining is a tough business, a hard nosed Aussie MD with 30 years experience in creating value from mid sized gold deposits would obviously play better in the market, so why is Bett's there. Would be interested to hear, have any brokers made points on this, cant find any reports.

[plasybryn] 03/12/2019 19:31

2 + 2 = 5 - Please be aware those were my words,(numbers!)based on my own observations of his response. I didn't mean to imply they were from Robert for which I apologise.
I didn't expect you to take any comfort from my post, but that is your prerogative. I'm surprised perhaps however that someone like you who delights in the written word and with apparently so many issues doesn't contact the Co. direct for your own responses. Or perhaps you have. Perhaps others may appreciate the reassurances.

[borderterrier1] 03/12/2019 19:00

Plasybryn. Thanks for the update. "Robert Monro was surprised about any queries that were outstanding" and presumably, that would include the one from Mostyn? What did you expect him to say? Especially the explanation in section 3. "It sounds like shareholders are looking for problems here and putting 2 and 2 together to make 5?" Plasybryn, there absolutely ARE problems here. The fact that Robert Monro "Didn't know about them" proves once again that there are poor communications within the company and I speculate (having read similar over the last few years) that the man that holds the reins is running this his way, regardless. "It's my way or the highway" is always a bad sign......especially when the "management" here is obviously lacking experience.

[plasybryn] 03/12/2019 18:40

It appears from reading the Bulletin Boards (particularly LSE) that there may well be a degree of shareholder nervousness about a few issues and of course the weak share price.
I therefore decided to email Robert Munro and as usual he was quick to respond. That in itself is always comforting.
I will try & paraphrase his reply and hope this direct feedback puts to bed some concerns.
1. I informed him that I had read that issues had been put to the Co. but no response had been forthcoming. He told me he was surprised about this. He was unaware of any queries that were outstanding. But he promised to check their "info@" email address to ensure there aren't any problems with the system.
2. I raised the concern about the extended delays in the new Resource/Reserve and resultant extended Life of Mine statement. He replied saying that the Co. hoped to be making further updates on this in the near future. So obviously delayed,(well we know that!) but no reason to read more into this than that in my opinion. Lets hope near future, means near future!
3. I asked him about an issue which has been raised concerning a potential conflict of interest within the Betts family. This is a quote from a blogger on LSE:- "Betts Metals is part of the Stephen Betts group of companies. So Mr. Betts senior and by default Mr. Dan Betts, our MD, have a fairly substantial conflict of interest. I must admit this was news to me but Robert addressed this issue comprehensively.
First he points out that there is full disclosure in their Audited Accounts with a number of independent non-exec. directors on the board as well. Fair comment.
But importantly he described the system. Apparently all gold produced from Yanfolila mine is sold on at an arms length basis to Auramet International (hxxp://auramet.com/).
As part of the Single Mine Origin (SMO) gold initiative (hxxps://singlemineorigin.com/) a small proportion of the refined gold produced from the Yanfolila mine and sold to Auramet is then purchased from Auramet at market prices by Hummingbird Resources Plc. This is then sold to Stephen Betts and Sons Ltd either in the form of gold grain or investment coins which are then in turn sold on to third party customers. Robert told me that for example the 1 oz Hummingbird gold coin is available (as we know) at hxxps://bettsinvestments.co.uk/product/1oz-hummingbird/. So I can't see anything wrong there. Can you?
So it sounds like shareholders are looking for problems here or perhaps putting 2 & 2 together and making 5. Perhaps understandable when the share price is so weak.
The next set of results and these resource numbers should restore confidence in my opinion.
Well I hope that helps, but if issues are still outstanding do email the Co.

[dickbush] 03/12/2019 18:14

Good news. A strong day for gold, up to $1480. A reaction to sell-offs in stock markets?

[lasata] 03/12/2019 08:18

With Endeavour bidding for CEY....if it does not work out...will they come sniffing here?!

Endeavour has mines in Côte d’Ivoire, Burkina Faso, Mali and Ghana

[borderterrier1] 02/12/2019 20:31

value hound Why? Fsj, the guy in the "know" did that and where did it get him? I will wait until it gets to single figures and a change of management. Won't be long with this shower.

[value hound] 02/12/2019 20:24

Well I bought a few today at 19.7p fwiw.

[borderterrier1] 02/12/2019 20:19

Sold some Kenny, lost quite a but didn't buy back in. Why would I? No buy signals here. This goes from bad to worse and the management don't give a rat's a$$.

[kennyp52] 02/12/2019 18:33

BT1 .. you must have sold out ready to buy back in at 15p then ? To still be holding would ruin your credibility ?

[borderterrier1] 02/12/2019 12:29

moneyfornothing1 Like I told you some time ago, 15p by Christmas. Please read some of the recent comments on the LSE bb. IMO, (and that of others), the Ceo needs to be removed or this will not improve. Lets see how "happy you are with your investment" in another six months.

[borderterrier1] 01/12/2019 18:57

Of course the responses are plausible and of course I accept them. But Mostyns closing paragraph was also plausible. Once bitten, twice shy and there are still some unanswered questions here. I wonder why? Don't you find it strange that as far back as 2011-12 the Ceo was bragging incessantly about the "staggering achievements" "massive potential" etc. etc. It's all there in the anals of the Internet. And now, with the mine up a running, investors can't even get timely updates? Is it all smoke and mirrors? The old saying "a goldmine is a hole in the ground with a liar at the top" also makes absolute sense to me. Presumably SB had a good following when this was floated on the market? I wonder what happened then?

[moneyfornothing1] 01/12/2019 18:07

Looks like you stopped reading at Mostyn's gripe and did not read the detailed responses that followed to generally calm his fears. He accepted the responses as plausible but unlikely that you would go so far as to accept them too! You do seem to love a conspiracy.

[borderterrier1] 01/12/2019 13:56

moneyfornothing1 Please read Mostyns last paragraph on his post on the LSE bb which starts:- "I've been burned, etc." So have I. It's probably the reason I am so critical of this.

[borderterrier1] 29/11/2019 14:08

moneyfornothing1 Not really. But to continually and unconditionally support this as he does would suggest there is a more defined connection/relationship than just a plain investor here. So now we all wait (as we have done before for almost three years) for a glimmer of hope and some movement N. It won't happen and in another six months my guess is that you will also be joining the ranks of disgruntled/frustrated investor. Good luck, you'll need it.

[moneyfornothing1] 29/11/2019 08:30

borderterrier is that another of your conspiracy theories? SMH!!!