Hummingbird Resources Share Discussion Threads

[borderterrier1] 30/4/2020 16:27

Your marbles?

[seagreen] 30/4/2020 15:58

Anyone prepared to slate a share for over 3 years and still hold it....

Just seems a tad strange........I must be missing something

[casual47] 30/4/2020 15:54

RT - what is the current official LOM for HUM's Yanfolila?

[redtrend] 30/4/2020 15:47

Not really - both have minimum 5yrs Life of Mine (LoM) and performing significant drilling on the doorstep to expand further the known resources into the mine plan (case of when, not if).

Sticking to HUM, we have 676k Oz in the current mine plan. The Yanfolila resource itself is 2m Oz, that drilling will firm up into the reserves and mine plan. This is before you even take into account further new exploration drilling and Cora assets.

Pretty standard stuff for miners.

When HUM is priced at less than 2x annual free cashflow, even without the inevitable LoM extension, its significantly undervalued on the current 5yr mine plan.

[ukgeorge] 30/4/2020 15:28

Seagreen who are you talking to?

[seagreen] 30/4/2020 15:22

Clearly into S and M or works for a market maker

So why not sell the holding you purport to hold and jog on...

yawn......so transparent and so borizzzzzzzzzzzzzzzzz

[casual47] 30/4/2020 15:11

The comparison goes even further, as it happens, both TSG and HUM now have equally unclear LOMs.

[borderterrier1] 30/4/2020 14:33

Of course Bert works at Cora, that was the point. I thought everybody knew that, except GB of course. But then GB is the guy that talks this up all the time so who knows? And, surprise surprise, a major shareholder is selling? I wonder why? Too late to get rid of DB now chaps, the damage is done here.

[ukgeorge] 30/4/2020 14:07

Bert now works at Cora, perhaps they were suggesting a new pr person. Who knows ref DB.

What is clear is that a major shareholder is selling. as big blocks keep on going through 173k gets bought... straight away a 100k and a 125k sale.

I pray now turns out to have just been a massive buying opportunity. The company should be making more than a penny a share per month.

10 koz True AISC $1000/oz margin $700/oz $7M /365M shares in issue is 1.9 cents a month or 1.5p.

[borderterrier1] 30/4/2020 13:47

Couple of pearls of wisdom from the LSE bb this morning:- Golden Bull says "Bert Munro needs replacing" ????? and "I have often wondered how the market would react if he (DB) was replaced with someone with 20 years experience of running gold mines" Nooooo!!! Really??

[seagreen] 30/4/2020 13:29

Same market cap which may explain why a lot of analysts think this should be nearer to double ..it would then be on production parity and the tiddler that I am not allowed to mention is producing a ninth of what HUM are producing is trading at 1/3rd of both....but they have a rabbit in the hat if the deal goes through....

its the one with the biggest production that wins the current gold rush race ...imho

or should subject to large disparities in AISC and resources

[redtrend] 30/4/2020 12:43

bignads - HUM actually has 3x the output of TSG, with HUM circa 120K Oz p.a. and TSG 38-42k Oz. HUM also as of Q1 2020 has pretty much the same Net Debt as TSG too.

HUM and TSG are my 2 favourite gold stocks. TSG for me is still undervalued, however HUM is unbelievably undervalued.

[ukgeorge] 30/4/2020 12:11

Seat belts need to be on.

That is HUM any day now

[bignads] 30/4/2020 11:59

Fully agree they are a great company - that wasn't the point. Just a good comparison with HUM which has twice the output and a similarly low AISC.

[avsome1968] 30/4/2020 11:55

BIGS

TSG gold grades are top grade one of the best around just need now to upgrade resources will come 2nd quarter, UFG hold majority of the shares not many available to PI, 108m in total so swings in price can be pretty substantial either way.

Market pricing in early production at Vein 25 ahead of schedule this year may come online 4th quarter, also low cost producer AISC around $870 recent highs 130p with gold predicted to reach $2000 end of year could see 200p end of year, I managed to bag some at 72p happy to hold them.

[ukgeorge] 30/4/2020 11:19

Just added 6552 @28.12 now have a nice round ish number

Most gold shares have performed very well lately and these imo are still under performing. Debt is dropping, and hopefully cash rising. Fingers crossed nothing goes wrong.

Possibly 3 more months until more good news. Roll on a re-rating.

[bignads] 30/4/2020 09:37

Hummingbird is really starting to stand out as an undervalued stock in my view - Trans-siberian gold (TSG) was previously overlooked but following recent drill results they are now worth as much yet have half the production of HUM. The price will shift soon but its taking its time. 55p per share value in my eyes and that's before the bull run in gold stocks we're going to see over the next 18 months...

[dickbush] 30/4/2020 00:03

This may be good for gold if Trump, already pretty upset with China, supports Vietnam. A bit of sabre rattling in election year always goes down well with the electorate.

[pireric] 29/4/2020 19:50

Thanks Redtrend - yes that should help identify which would be helpful

[redtrend] 29/4/2020 19:39

pireric - you may not have seen my response on the CHIP Gold Miners thread to your similar query:


"pireric - on HUM's trade payables, we're still waiting for Accounts FYE Dec 2019 (expect it to be released in May), however the payables I hope should be right down and back to normal historic working capital movements, with all the remedial works, exploration and ball mill capex cleared.

In Q1 2020, HUM's free cashflow was circa $17m, but non-existent in previous Q4 2019. I think most PIs hope and as alluded to in the Q4 2019 report itself, that the FCF we cannot see show up in the cash or gold inventory/ receivables, went to pay off the trade payables sums."


The last trade payables number we saw in 1H 2019 interims was elevated at $42.7m. I would assume a normal payables for working capital would be more in the 20s and hope over Q3 and Q4 2019 got this figure down to a more "normalish" area. We shouldn't have too long to wait for 2019 accounts now.

[pireric] 29/4/2020 17:56

Almost bought in today. The >$25m of net payables over receivables put me off as that's as good as debt from an EV perspective. Need to re-run some calcs

[ukgeorge] 29/4/2020 17:05

I hope they start share buy backs asap. Worked very well at TSG.

What a nice RNS that would be, net debt free and share buy back initiated.

[laurence llewelyn binliner] 29/4/2020 16:55

The seller will clear 1 day, they are only passing their shares from the impatient to the patient, and I want to see those dividends from 2021 after we are declared debt free.. :o)

With a bit of luck, net cash positive next month is the 1st milestone..

[andrewsr] 29/4/2020 14:28

If only we could be rid of the pesky seller(s)...(must be a significant holder with the steady flow of large chunks?)..we'd have a realistic share price to match the cash flow..