Hummingbird Resources Share Discussion Threads

[rougepierre] 22/5/2017 16:27

Doubled my holding in HUM...

[bookwormrobert] 22/5/2017 12:59

Very satisfactory RNS this morning - Yanfolila remains on time and on budget for first gold pour at the end of the year. I'm a bit puzzled by the lack of share price reaction to today's news, but not too concerned. It will all come right sooner or later.

Right now, this is a good buying opportunity.

[jimbowen30] 22/5/2017 09:14

Very positive update. I can easily see the share price doubling over the next 12 months if they hit their targets.

[rileyma] 22/5/2017 09:10

Why not ever commit to a target then,,,,


[...] " Hummingbird Resources (LON:HUM, 23.75p) – Speculative Buy Hummingbird Resources, the gold exploration and development company with assets in Mali and Liberia, announced today a construction update from the Company's Yanfolila mine in Mali. The ball mill has been delivered and the contract mining fleet has been mobilised and arriving on site. All aspects of construction continue to progress on budget and on time with the first gold pour expected before the end of 2017. Our view: We continue to be encouraged with the pace of progress being made at the Yanfolila as the project remains on time and within budget. We look forward to further updates as pre-production mining is planned to commence in Q3 2017. We also note that once Yanfolila is in production, operating costs (AISC) are expected to be US$695/oz with 132,000oz of gold produced in the first full year's production. We maintain a Speculative Buy rating on the stock. Beaufort Securities acts as a corporate broker to Hummingbird Resources plc "

[qs99] 22/5/2017 07:36

Nice update..

[susiebe] 22/5/2017 07:33

Further deriskingDan Betts, CEO of Hummingbird, commented: "As the longest lead item, the delivery of the ball mill to site is a significant milestone for Hummingbird and further de-risks the delivery of the project's critical path.  Construction is progressing well, and I would like to thank our operations team and our construction partners for their continued hard work and dedication on site."

[rileyma] 20/5/2017 14:16

Courtesy of ricky on lse,,,

I emailed HUM for an update and asked them also about Dividend potential and valuation - response was ''In brief though yes we are very undervalued. We are trading at perhaps 1.3x free cash flow and should be, when in production, anywhere from 5-15x free cash flow. The market has been increasingly sceptical of companies in construction and think that is the reason for a delayed re-rate. I can assure you though we are on budget and time and very pleased with progress. WRT a dividend it is under constant review along with a policy of share buy backs for the same reason. Until we are in cash flow and fully up and running it is something we need to keep a watching brief on really. We are though in a strong position. Year end cash of US$54m and we are now c70% complete on the project.'' I also had a call from the senior employee who was very bullish about the potential for the share price and he stated the results are out in the next couple of weeks after which he expected Directors and senior employees to be making purchases (they are obviously in a Close period currently) I will be buying more.

[divmad] 20/5/2017 07:44

UKGeorge,

Presumably you take comfort from the professional pre-production team that Hum has put together. They know their stuff and must have many prior experiences to lean on in this crucial stage. ATB.

[ukgeorge] 19/5/2017 10:34

Aureus Mining, European minerals, shantagold, petropavlosk, cluff gold, avocet, all open pit.

I'm not bashing but open pit can be just as risky

Roll on first gold pour

[bookwormrobert] 19/5/2017 07:21

The news that would really make this share boom short term is further resource discoveries nearby. As it is, Yanfolia has a rather short mine life, and if that can be extended it would significantly improve the project's economics.
And Prem124 is right, open pit is a lot easier than going underground.

[prem124] 19/5/2017 03:04

at least open pit is less risky than underground

[new_buyer] 18/5/2017 14:25

It'll be nice to see some upward movement, that may well be later this year, interesting but can only assume many sitting on the outside looking in but not ready to dip their toes in yet. Hoping everything goes smoothly from here till the production later this year.

[ukgeorge] 18/5/2017 14:01

New buyer,

I've got 50k shares, so I'm positive on them but this is a risky period and that is why I think the price is dragging.

[bookwormrobert] 18/5/2017 13:38

The standout feature of Hummingbird is the quality of the management. Indeed, that's why the share is so boring, and why this board is so quiet; there's very little to worry about. All in all, I'm pretty confident that the first gold will indeed be poured on 17th December, as promised, and that the stare price will rerate as the company hit their milestones. The exact amount of rerating will depend on the price of gold at the time, of course.

[new_buyer] 18/5/2017 12:31

What's your view then on Hummingbird?

[ukgeorge] 18/5/2017 12:10

We are at one of the most risky periods when it comes to a mines life.

In that the mining co, now need to bring the mine into production without, running out of money before commercial production/the mine is cash flow positive.

Examples of companies on Aim that failed here
Auerus Mining
Shanta Gold
European Minerals

or just spent too much (petropavlosk)
or were just sh1t Avocet


The risks outweigh the potential benefits, hence the share price drags

[new_buyer] 18/5/2017 11:59

That would be very nice!!

[rileyma] 18/5/2017 11:26

Sept/oct 60p?

[new_buyer] 18/5/2017 11:15

Maybe we have all read this one wrong, demand for the shares does not seem to be there. Hopefully this will change as we get closer to a change from construction to production!!

[charles clore] 17/5/2017 19:04

The share price has been stuck in the 24p region for a year now. Imho with start of production now in sight the price should begin to move up especially with gold on the rise.

[bookwormrobert] 17/5/2017 18:58

Shh! Please don't wake anybody up! We're not done buying shares cheaply here!

[jimbowen30] 17/5/2017 17:52

It's creating a buying op :)

[divmad] 17/5/2017 17:38

A puzzle why the market continues to yawn at the pre-production build up going on here.

[bookwormrobert] 14/5/2017 11:41

Corporate video - very professionally done, as with everything with this company:

[...]

[rileyma] 11/5/2017 11:48

New time lapse video just uploaded
Fyi