Hummingbird Resources Plc

0.00 (0.0%)
Share Name Share Symbol Market Stock Type
Hummingbird Resources Plc HUM London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.0% 17.75 07:32:36
Open Price Low Price High Price Close Price Previous Close
17.75 17.75 17.75 17.75 17.75
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Hummingbird Resources HUM Dividends History

No dividends issued between 07 Jun 2013 and 07 Jun 2023

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Posted at 05/6/2023 07:18 by temujiin
5 June 2023

Hummingbird Resources plc

("Hummingbird" or the "Company")

Updated Corporate Presentation

Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM), is pleased to announce an updated Corporate presentation for the 121 investor conference in New York, available on the website


Posted at 26/5/2023 19:43 by farrugia
It was wrong not to hedge a portion of the gold! I tried voicing myself here and urged you to contact investor relations but i was called foolish. Not that I know for sure that Hummingbird haven't hedged - I tried to e-mail their investor relations to tell them.

Hochschild Mining PLC

'27,600oz of gold hedged from March to December 2024 at a price of $2,100 per ounce'

I sold a little tranch of HUM (just a little) and bought some PAF (just an initial tranch) today

If I see weakness in HUM i'll probably load up.

USA technology stocks particularly the semi-conductor ones are going berserk - I can't see how the Fed will be able to lower interest rates with this fever. It won't end well - that's i'm sure - this is creating a MASSIVE bubble.

Posted at 22/5/2023 07:09 by laurence llewelyn binliner
22.05.2023 - Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM) is pleased to announce the start of the hot commissioning phase at the Kouroussa gold mine in Guinea, the next step being first gold pour, which is expected within this quarter, Q2 2023..Nearly there.. :o)
Posted at 03/5/2023 14:29 by hazzy
bt1. I don’t usually post on bulletin boards, but in view of your constant criticism of hum I felt I just had to put in my two penneth. There appears to be no doubt that you feel you’ve been shafted by this company, and that may well be true. That’s always the chance you take when you invest in junior pre-production exploration companies. However, constantly harping on about the past serves no useful purpose, we all know that hindsight is a truly wonderful thing. The here and now is what matters and when looking at hum, the present synopsis cannot be anything but encouraging. Yanifofolia is now producing about 100,000 ounces of gold per year. What happened seven years ago is irrelevant, it’s gone. Kouroussa is about to be brought on stream. Will it be brought onstream and produce 100,000 ounces per year. Presently that is unknown, but you appear to think that it won’t be. You may be right, but you appear to be betting against the odds. At this moment in time it appears more likely that Kouroussa will be a success, but it’s by no means certain. But what is really puzzling is your extraordinary pessimism. You say your break even is 28p. The current share price is not a mile away from that, and if, and I know it’s an if, Kouroussa comes in the share price will be north of that by the end of the year, national politics notwithstanding. And yet you seem to want hum to fail because you were shafted seven years ago. But why do any of us invest in shares - to make money. And everyone who has invested in hum since November 2022 has done very nicely. They don’t give a toss what happened to hum last October let alone seven years ago. Learn from the past and try not to make the same mistakes again. Move on bt1. And I hope you at least break even in the not too distant future.
Posted at 20/4/2023 09:46 by wskill
I keep looking at these grades below from Kouroussa and still cannot believe HUM is only valued at what it is todays ,valuation today does not reflect what HUM should be worth.

Kouroussa Drilling Highlights :

Hummingbird has received the second assay batch of results on 40 Reverse Circulation ("RC") and seven diamond holes on the high-grade KoeKoe ("KK") deposit, delivering approximately 4,562 m out of the Company's c.24,000 m infill drilling programme for 2021.

Notable drill results from the KK deposit include:

-- 55m at 35.72 g/t from 77m ( KRCD1729A )

-- Including an interval zone of 20.75m at 91.98 g/t

-- 5.9m at 12.72 g/t from 94m (KRCD1880)

-- 10.2m at 5.68 g/t from 34m (KRCD1884)

-- 9.8m at 5.82 g/t from 3m (KRC1821)

-- 49m at 5.50 g/t from 70m (KRC1866)

-- 10m at 4.76 g/t from 140m (KRCD1878)

-- 6m at 4.91 g/t from 29m (KRCD1880)

-- Drill hole KRCD1729A, a metallurgical hole drilled to collect sample material for metallurgical test work, intersected a significant high-grade mineralisation interval of 55m at 35.72 g/t (from 77m), including an internal zone of 20.75m at 91.98 g/t

And these from 01.09.22

Further High-Grade Assay Results at Kouroussa Confirmed :

Hummingbird has received the final assay results from the 2021 infill drilling campaign, which were not included in our 2022 Company Resources and Reserves update as released on 30 June 2022. These final assay results relate to 27 drill holes totalling 4,138 meters ("m") at Kouroussa's key deposit Koekoe ("KK").

Notable drill results from the KK deposit include:

-- 9.0m @ 32.60 grammes per tonne ("g/t") from 116m (KRCD1899)
-- 12.3m @ 13.84 g/t from 69.7m (KRCD1901)
-- 12.0m @ 4.14 g/t from 98m (KRCD1902)
-- 6.0m @ 10.94 g/t from 122m (KRCD1902)
-- 8.2m @ 10.29 g/t from 92m (KRCD1904A)
-- 7.2m @ 10.46 g/t from 128.5m (KRCD1909)
-- 2.0m @ 27.10 g/t from 40m (KRCD1914)
-- 3.1m @ 14.28 g/t from 132m (KRCD1914)
-- 2.0m @ 47.77 g/t from 154m (KRCD1915)
-- 15.1m @ 3.48 g/t from 59m (KRCD1935)
-- These, coupled with previous high-grade results, continue to demonstrate Kouroussa's significant gold endowment, which boasts multiple high-grade zones that remain open at depth and provide further corroboration of the updated block model

Posted at 19/4/2023 18:26 by polaris
I look at it this way:

Current EV is the £78 M in market cap + $105 M in debt, or around £162 M.

At constant EV and a run-rate of 15k oz per month from Q4 2023 at $700 AISC margin comes to around a 1-year payback with full debt load. Assuming constant EV then £162 M equates to a share price approaching £0.27.

However, current EV still has a lot of risk built in to it that, honestly, i do not see today. Kouroussa will complete. It is fully funded. Yanfolila will remain cash positive, even at 80k oz production and $1500 costs! Kouroussa first 2-3 years are slated at 120-140k oz at $1100. At $700 AISC margin that is $84-96 M in cashflow...PA...from Kouroussa alone.

Debt will go away very fast. Look at Q4 debt v Q1 debt, even with the CIG cash injection, HUM were cash positive at EBITDA level with the cash spent on Kouroussa. That is huge! We probably didn't need the placement but Coris wanted their share of the pie for their commitment over the years and HUM failures. I get that, many others will not.

What is possible going forward?

At 200k oz for FY24-26, $1200 AISC cash costs and $700 AISC margin, HUM throws off $140 M in operational cashflow PA. 2024 - debt gone. 2025-2026 - HUM build cash to a level that more than matches current EV! With no exploration or increased LoM, HUM will be 100% cash covered by end 2025 at constant EV. This is clear madness.

At a LoM of 5 years, with possibility to expand with exploration i would expect a rating of 3-4x cashflow. Using numbers above the cashflow will be $140 M. Aim for EV is $500 M based on that, or £400 M or 66p...take your pick.

Factors that can improve the rating?
new projects
AISC margin

Factors that can lower rating?
HUM history repeating
mine operational issues
political issues

I favour the positives. Others may differ, as history can provide a powerful pull, despite every indicator of current situation pointing otherwise.

I had 230k shares, stated in a recent post. That is 250k shares today and i will be looking to add with any further positive news. Look forward, not backward.

I trade on margin so a 100% increase in share price is a 2-300% increase in capital for me. I have a base scenario of 27p for end of 2024 - the constant EV and debt paid back. That'll do for my style of trading.

The cashflow-based option would be very nice indeed, even without any further additions to my holding. I'll let you work out the return at 40% capital margin based on average price of 9p. ;-)

Posted at 20/2/2023 14:04 by laurence llewelyn binliner
VEIN - 25.04.2022 - ESAN director appointed to the BOD
VEIN - 20.06.2022 - strategic review led by Ian Stalker
VEIN - 01.11.2022 - option to acquire the 51% HUM of Dugbe triggered
HUM - 01.11.2022 - Pasofino will issue to Hummingbird such number of common shares of that results in Hummingbird owning 51% of Pasofino on completion of the Consolidation
VEIN 13.02.2023 - We are delighted to announce the joint strategic review process being undertaken with Hummingbird to showcase the Dugbe Gold Project internationally and to unlock the tremendous potential and value of the Dugbe Gold Project..

#PH, like you, I suspect we have not yet received the 51% of VEIN as there are strategic plans in the making.. ;o)

Posted at 11/2/2023 16:09 by 1knocker
The one thing you can be sure of from the figures which we do know is that Hum's financing is only going to get more expensive, the same as anyone's does when they are looking for new loans or to refinance or renegotiate existing loans when they are in financial difficulty, even if that is only a temporary difficulty (which in Hum's case I doubt).

Don't imagine that contractor deferrals come free either.The contractor is is in business ; it is not a charity. The contractor on site has a pretty strong negotiating hand too. Contractors will not be queuing up to replace them, and Hum could not afford the short term delay and cost even if it could find a contractor offering better terms.

This is a business between a rock and a hard place, which has little control over its destiny. That is not a recipe for shareholder returns.

I do't expect to see my money back here. The only question is what the chances are of a better exit point than now. So far, hanging on has just increased my loss. The earlies cut is usually the cheapest, not least because it frees capital to be better invest elsewhere. If we get a bounce in the POG later in the year, that will probably be the best moment to get out. But if there is a dip first (which seems quite likely) will Hum be in any position to benefit from the bounce? And if there is no bounce,wat price Hum? It also has to be borne in mind that anything I take out of Hum now and reinvest in a stronger player now will probably do better than it would if left invested in Hum, even if the bounce comes and Hum is not bu then too crippled to benefit much from it.

I have very little in Hum, so the loss in ££ is infuriating rater than significant in the context of my portfolio even though the % loss is my worst on any stock I had. Its really a toss up between (a) the desirability of cleaning up the portfolio and ceasing to waste any time and thought on Hum and (b) leaving it in the sock drawer and trying not to waste more time and energy thinking about it.

The risk that I would be tearing up a winning lottery ticket seems minuscule, as one way or another either total collapse, limping on at an ever lower SP, or a capital raise and massive dilution look to be a racing certainty. I think I have just answered my own question, so I may not be contributing to this BB again.

Posted at 08/2/2023 09:45 by temujiin
So to sum up this week, what we know

Good bits.
1. Yani mining fleet working ok now and grades much improved
2. Yani making profits again and Q1 predicted to be similar to Q4
3. Kouroussa still on time and predicted to pour 1st gold before July
4. Coris see the value in Yani/Kouroussa and want a large piece of the HUM pie

The bad bits
1. Coris appear to not want to lend any more and manoeuvred to get a large piece of the HUM pie
2. HUM maxed out their credit card
3. Result is we are likely going to be diluted by approx a 32%

The dilution isn't ideal but HUM are still in the game despite prediction we would 'go to the wall very soon' and wouldn't 'survive as is for more than 3 months or so'

We all hate dilution, and we can blame the snouts in trough bad management for the situation HUM are in, but it appears with Corica, HUM have turned Yani around and we will see Kouroussa to production. It's not as good as it could have been, but not as bad as it feels either.

Posted at 06/2/2023 21:49 by temujiin
Ok, been a busy day so not commentated much. Observations, from now looking at presentation as well as RNS

1. Presentation suggests 2023 guidance of up to approx 155k. I think it will be less , approx 126k, but all actual SH's are hoping for better than that.
2. Q4 has proven HUM can be profitable...if the mining fleet is working correctly
3. Q4 has shown that Corica (despite their non flashy website) are a serious mining outfit, and as we know, will also mine Kouroussa.
4. Q4 has shown, our house trolls know jack about HUM and their opinions are often embarrassing.

HUM appear to have turned it around, Q1 is going according to plan so far as well, Coris still on-board/supportive, Kouroussa still on target, grades improved as expected.

HUM are way better positioned than they were looking in Q3, but are still treading a delicate line between income from Yani + Coris debt facility + debt repayment deferrals and Kouroussa costs, but it seems everyone is still on-board that Kouroussa is a gold mine that's worth the risk.

I'm more hopeful my investment will eventually work out ok, although it might be another couple of years before HUM's value really reflects in the share price

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