Hummingbird Resources Share Discussion Threads

[charles clore] 02/1/2018 11:42

Croas - I can't remember where I saw it but believe they are expecting a higher first quarter production figure than that.

[croasdalelfc] 02/1/2018 11:37

Ramp up in production is the priority for Q1, plus the target is 132,000 oz in 2018.So is this realistic?Q1 25000 ozQ2 35000 ozQ3 36000 ozQ4 34000 ozIs their a seasonal element - weather conditions /rainy season?

[zhockey] 02/1/2018 11:36

Chip,

You need to factor this against reserves.

[charles clore] 02/1/2018 11:33

chip, ZH - The price is sitting near the lower band of support now and I would be surprised to see it drop much lower. If it does, something else is probably going on that we don't know about imho.

Regarding p/e it is hard to predict what ratio might apply here before a few months of production have passed.

As far as the selling goes I think we may have a slight overhang waiting to be cleared after which I suspect buying will resume.

Another bit of info that may be of interest here

[chipperfrd] 02/1/2018 11:11

My point being that x6 is at the very under-valued level in comparison to the sector!

[chipperfrd] 02/1/2018 11:08

Here are a few P/Es from other producers for comparison.


Stock name ...... Code PERKinross ......... KGC . 322.3Goldcorp ........ GG .. 133.2Franco Nevada ... FNV . 84.3Agnico Eagle .... AEM . 78.4Avino ........... ASM . 62.3Kirkland Lake ... KL .. 59.6Barrick ......... ABX . 55.0Centamin ........ CEY . 47.4Randgold ........ RRS . 45.4Fortuna ......... FSM . 43.9Fresnillo ....... FRES. 42.6Newcrest ........ NCM . 41.1Silver Wheaton .. SLW . 39.7Hochschild ...... HOC . 38.8Yamana .......... AUY . 37.3AngloGold ....... AU .. 34.3Patagonia ....... PGD . 27.7Acasia .......... ACA . 26.3Endevour Silver . EXK . 24.8Northern Star ... NST . 24.2Hecla ........... HL .. 24.1Silver Standard . SSRM. 24.0Gold Res ........ GORO. 23.5Pan American .... PAAS. 22.7Sandstorm ....... SAND. 22.5Klondex ......... KDX . 21.5Regis Res ....... RRL . 19.2S&P 500 avge .... S&P . 18.9Petropavlovsk ... POG . 18.8Goldfields ...... GV .. 17.3Polymetal ....... POLY. 16.2Coeur Mining .... CDE . 14.8Highland ........ HGM . 14.7Mandalay ........ MND . 13.1Harmony ......... HMY . 12.8OceanaGold ...... OGC . 12.3Pan African ..... PAF . 11.6Caledonia ....... CMCL. 11.5Silver Lake ..... SLR . 11.5Trans Siberian .. TSG . 10.2SilverCorp ...... SVM . 10.0Tahoe Res ....... TAHO. 9.5St Barbara ...... SBM . 8.7Medusa .......... MML . 8.0Beadell ......... BDR . 7.9Resolute ........ RSG . 4.0




Chip

[zhockey] 02/1/2018 10:24

Charles,

If they produce 100k a year at 800 AISC, assuming 50% goes on tax and royalties that's £20M profit and a PE of 6 is about fair value here?

[bittorrent] 02/1/2018 09:40

Gold back through $1300 again.

[charles clore] 02/1/2018 09:33

The selloff started at about the same time the announcement was made to not go ahead with the Kobada jv and the price has continued down ever since. What was so good about Kobada that warrants a 12% price drop? HUM was about to do AGG a favour in helping them to conveniently process their ore while at the same time upping our own production rate to 150,000 oz p.a. and ending up with a 50% stake in the jv. For one reason or another it didn't happen and it put AGG's nose out of joint to the extent that they have mentioned taking legal action against HUM.

Meanwhile, HUM carries on as normal with a first year target of 130k oz of gold production from Yanfolila with $40m in the bank. I can see no reason for a sustained price fall and fully expect a strong rally in this first quarter.

[bo doodak] 02/1/2018 00:48

Good to see continuity -

hxxps://punchng.com/george-weahs-presidential-election-victory-speech/

''To investors, we say Liberia is open and ready for business. Over the long term, private investment will be our key strategy to delivering transformation. We will work to relax constraints to private investment; strengthen the business, legal and regulatory environment, and protect business profits''

[catsick] 01/1/2018 14:45

To be honest I would take the fact that hub is bullish as a big negative as he is the typical aim muppet with a blog, chip I would listen to but hub never ...

[charles clore] 31/12/2017 15:16

chip - a happy new year to you too. And everyone on this thread with a stake in HUM be happy because I believe next year will be the first of many excellent ones ahead.

[chipperfrd] 31/12/2017 14:15

rileyma,

re the Sharehub preview of Cora:

I think it should be pointed out that the author of that article incorrectly states that Cora already has Resources credited.

The IPO document contains the CPR which states "The assets discussed in the CPR consist of eight gold properties, namely Sanankoro, TaganSiranikele, Tekeledougou, Farasaba III, Winza, Mokoyako-Karan and Diangounte in Mali, and the Madina Foulbe property in Senegal. Together they encompass a total area of 1,702.22 km2. These assets are at an exploration stage of development and do not currently include any JORC 2012 compliant Mineral Resources or Ore Reserves."

Hopefully, the current 15k drill programme will start to bear fruit with some decent intercepts. But it will take a lot more than 15k of drilling to produce their maiden resource - that will likely take around 2 years or so, if there is a resource to be discovered of course. So, setting a target of 48p in 2018 does appear (to me) to be overly ambitious, short of a massive increase in the gold price, which would obviously 'raise all boats' in the gold sector.

Certainly an interesting stock to watch but one does need to be a bit cautious about what can be achieved in the short term with a pre-resource stock as compared to HUM which will now benefit from growing cash flows as it advances its production.

Happy New Year everyone.
Chip

[ukgeorge] 31/12/2017 11:23

I'd be happy with their 78p target for HUM Their target for Cora is 48p.

[charles clore] 31/12/2017 11:22

Cro - given the current world economc issues I can see gold and silver moving up in the short, medium and long term.

[rileyma] 31/12/2017 10:13

2018 preview is a crackin read
Hum on the top 10 picks again
Cora added also

[croasdalelfc] 31/12/2017 09:16

BItcoin faltering unrest in Iran , can see gold price moving up short term

[bittorrent] 29/12/2017 12:01

A good time to be a gold producer!

[croasdalelfc] 29/12/2017 08:48

Gold at $1297 ... maybe a bull run up to $1350 if BItcoin gets twitchy

[zhockey] 28/12/2017 13:15

Carols, with respect you have no way of knowing that.

[chipperfrd] 28/12/2017 11:29

The CORA announcement on the 2nd Nov was regarding a review of historical exploration drilling by Gold Fields. But they do look very encouraging.

On a Gramme-Metre basis, the 5 intercepts being quoted have an average of 46 gm which is pretty good.

Let's see how their new drilling campaign works out.

Happy New Year everyone.
Chip

[charles clore] 28/12/2017 10:43

Darola - I meant Kobada silly me!

[darola] 28/12/2017 10:22

I think you mean AGG. And that would just be rhetoric to appease shareholders.

[charles clore] 28/12/2017 10:03

catsick - didn't Cora mention considering legal action over the decision not to proceed? Maybe HUM saw the writing on the wall and decided going it alone was a better option.

[catsick] 28/12/2017 09:41

Divmad cora announced drill results on the 2nd nov and began more drilling on the 30th nov so there is plenty of new info that hum will have since the agg was announced, now we all have no idea why the agg deal fell through but I would say it is going to be bad results from the dd or good results elsewhere...