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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hummingbird Resources Plc | HUM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.70 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.70 | 2.70 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 29/5/2025 20:15 by trader465 bt - you may want to follow this one after the flak you took here for spotting the HUM err, kon.I believe this is set up for an asset strip, BVI incorporated, AIM listed with multiple private USA subsidiaries that have been set using parent assets and now privately controlled by the directors. Of course I could be wrong and the gentlemen running PXC could genuinely be attempting to create value for shareholders, perhaps they are just not very good at it? 🤷🏼&z They seem to have dropped $37m down a hole in Mackey Idaho. Mackey isn’t a very big spot to lose $37m in me thinks? Surely we’d see infrastructure and equipment in a small cowboy town? My vision isn’t the best because I smoke the odd joint and drink a drop of wine, but I see no $37m hole on using HR satellite data, just a few old tin sheds and an old wooden hut or two. I picked up a “very few” at 4p to give me access to the AGM as I’m heading to uk next month so might be about to ask my 15 questions directly. |
Posted at 10/3/2025 12:32 by hedgehog 100 Borderterrier1,But I'm not giving readers here investment advice about whether to buy Harena or not. Flagging it up as an opportunity they may care to look at is subtly different:- Hedgehog 100 8 Mar '25 - 14:29 - 14758 of 14763 Edit 0 0 0 "However, investors seeking an alternative home for their HUM monies may be interested in an outstanding mining sector floatation coming to market imminently." As regards Farrugia's comment: " ... i don't think investors here have the appetite for getting screwed again ..." Well, that statement pre-supposes that investors into Harena Resources WOULD be screwed again. But even if they were, several years down the line, that doesn't mean that you couldn't make very good money from it first. So let me give some general investment advice. LEARN from your investment mistakes, but don't 'throw the baby out with the bathwater'. I believe that it's a mistake to write off an entire sector just because of one bad experience. And I note that within the last ten years, there have been three occasions when the HUM share price has trebled. So if you had trebled your money on each of those, reinvesting the proceeds back in on each occasion, £1K. could have become £27K. Hummingbird Resources (HUM):- |
Posted at 20/2/2025 19:12 by 1knocker Hum gone from my investment spreadsheet, a very modest sum added to the cash account.The end of HUM and my interest in this board. Commiserations to all who lost heavily. Best of luck to any brave folks who stayed for the ride as shareholders in a private company. Goodness knows what your chances will be of selling, still less getting anything like a reasonable price. I shall miss [most] of the contributors to this board, whether i agreed with them or not. I won't miss HUM. Goodbye and good luck to one and all. |
Posted at 05/2/2025 08:07 by p@ Notes to Editors:Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigi For further information, please visit hummingbirdresources Geoff Eyre, Interim CEO Thomas Hill, FD Edward Montgomery, CD Hummingbird Resources plc Tel: +44 (0) 20 7409 6660 James Spinney Ritchie Balmer Strand Hanson Limited Nominated Adviser Tel: +44 (0) 20 7409 3494 James Asensio Charlie Hammond Canaccord Genuity Limited Broker Tel: +44 (0) 20 7523 8000 Bobby Morse Oonagh Reidy George Pope Buchanan Financial PR/IR Tel: +44 (0) 20 7466 5000 Email: HUM@buchanan.uk.com |
Posted at 07/1/2025 16:04 by trader465 AIM Rule 31: Directors’ ResponsibilitiesAIM Rule 31 requires directors of AIM-listed companies to: Act in the Best Interests of the Company as a Whole: Directors must prioritize the success of the company for the benefit of all shareholders, not just specific groups (e.g., majority shareholders or creditors). Treat Shareholders Equitably: Directors must ensure that all shareholders are treated fairly, avoiding actions that disproportionately benefit or harm minority shareholders compared to major shareholders. Ensure Compliance with AIM Rules: The board must implement appropriate corporate governance and maintain systems for timely and accurate disclosures to the market. How AIM Rule 31 Applies to HUM's Situation In the case of Hummingbird Resources (HUM), AIM Rule 31 has critical implications for the conduct of the board during the ongoing financial difficulties and restructuring: Debt Restructuring and Shareholder Fairness HUM is negotiating debt restructuring with Coris and CIG, entities that hold significant financial leverage over the company. Conflict of Interest Risk: CIG is not only a lender but also HUM's largest shareholder through its subsidiary, Nioko Resources Corporation. Coris, which holds $90 million in secured debt, and CIG are controlled by the same principal. This interconnected relationship creates a potential conflict of interest that could prioritize the interests of CIG and Coris over minority shareholders. Director Obligation under Rule 31: The board must ensure that the restructuring terms are equitable and do not disproportionately benefit CIG, Coris, or Nioko at the expense of minority shareholders. Failure to do so could violate Rule 31, exposing directors to potential regulatory scrutiny. Transparency and Disclosure HUM must provide clear, accurate, and timely disclosures about: The financial status of the company. The terms of any restructuring agreements. The valuation of assets used as security. Director Obligation under Rule 31: The board must ensure that minority shareholders are informed of any risks or consequences stemming from restructuring. Any omission or manipulation of material facts would breach Rule 31 and AIM's disclosure obligations. Asset Risk Coris holds $90 million in secured debt, tied to HUM’s assets. If restructuring fails, assets could be seized and transferred to entities controlled by CIG or Coris. Director Obligation under Rule 31: The board must prevent undervaluation of assets or any arrangements that disproportionately benefit secured creditors (e.g., allowing them to acquire assets on the cheap). Directors should explore all avenues to protect shareholder value, such as seeking alternative financing or asset sales at fair market value. Minority Shareholder Protection Minority shareholders are at risk of dilution or total loss if the restructuring results in: Asset seizure or undervaluation. A debt-for-equity swap that favors CIG or Coris. Director Obligation under Rule 31: The board must balance the interests of all shareholders and avoid preferential treatment for entities like Nioko or CIG. Concerns in HUM’s Case There are several red flags where AIM Rule 31 could be at risk of breach: Conflict of Interest: The principal controlling CIG and Coris may exert undue influence on HUM's board, leading to decisions that prioritize creditor interests over shareholder value. Lack of Independent Oversight: No evidence suggests an independent third party is ensuring fairness in restructuring negotiations. Transparency: Limited information is available on how asset valuations are being handled or whether alternative financing options have been explored. What Minority Shareholders Can Do Demand Transparency: Shareholders can request detailed disclosures about the restructuring terms, creditor relationships, and asset valuations. Push for Independent Oversight: Shareholders can advocate for the appointment of an independent advisor or auditor to oversee the process and ensure fairness. Report Concerns to AIM Regulation: If shareholders suspect a breach of Rule 31, they can raise the issue with AIM Regulation, which oversees compliance with AIM rules. Conclusion: Under AIM Rule 31, HUM’s directors have a duty to act in the best interests of all shareholders and ensure fair treatment during the restructuring process. However, the interconnected relationships between HUM, CIG, Coris, and Nioko pose significant risks of conflicts of interest. Minority shareholders should closely monitor the situation and demand transparency to safeguard their interests. If evidence of unfair treatment emerges, regulatory intervention may be necessary. |
Posted at 07/1/2025 15:49 by trader465 I'd say Prat was over exposed to HUM, 9.23 posts per day since 2018 and nothing since the 62% one day fall here. I had lots of fights with him over the years but I do hope he's ok. I dont think theres a lot holders can do to prove wrongdoing becaue the AIM rules are too relaxed, but the conflict of interest between the controling parties raise more than an eyebrow.Stakeholder Relationships Nioko Resources Corporation (Nioko): Nioko is Hummingbird's largest shareholder and a wholly owned subsidiary of CIG, giving CIG significant influence over the company's direction. CIG and Coris: Both CIG (a lender) and Coris (the primary secured creditor) are controlled by the same principal, meaning there is shared leadership and overlapping interests between these two entities. CIG has provided unsecured loans, while Coris holds secured debt, putting Coris in a favorable position to seize assets in the event of default. Implications of Control and Influence: Interconnected Interests: With control over both equity (via Nioko) and debt (via Coris), the principal behind these entities has substantial leverage over Hummingbird's financial strategies and decision-making. Debt Restructuring and Asset Security: Coris holds $90 million in secured debt tied to Hummingbird's assets, and CIG is providing unsecured funding. In a worst-case scenario (e.g., administration or insolvency), Coris would be first in line to claim Hummingbird's secured assets, potentially at a discount. Potential for Undervalued Asset Acquisition: If restructuring negotiations fail, there is a risk that the company could default on its secured debt, leading to asset seizures. Given the interconnected relationships, it is conceivable that these assets could be transferred to entities controlled by the same principal (e.g., CIG or Coris), effectively allowing them to acquire valuable assets at a reduced cost. Corruption or Conflict of Interest? While this scenario does not automatically suggest corruption, it does present a conflict of interest that could be exploited: Manipulating Liquidity Events: By leveraging Hummingbird's liquidity challenges, the principal controlling CIG and Coris could engineer a financial situation where assets are acquired cheaply, bypassing market mechanisms. Suppressing Shareholder Value: The concentration of control might lead to decisions that prioritize the interests of CIG and Coris over private shareholders, potentially undervaluing assets or restructuring terms to the detriment of minority investors. Opaque Governance: The interconnections and lack of transparency between these entities could mask actions that serve insiders at the expense of other stakeholders. Questions for Investors To ensure fairness and transparency, private investors should demand answers to critical questions: Independent Oversight: Is there a truly independent board or third party overseeing the restructuring process to protect minority shareholders? Fair Valuation of Assets: Are the company's assets being fairly valued, and are restructuring terms reflective of their true worth? Transparency in Stakeholder Actions: How are the overlapping roles of Nioko, CIG, and Coris being managed to prevent conflicts of interest? Regulatory Scrutiny: Has the AIM regulator reviewed these relationships for potential governance issues? Conclusion: While not definitive proof of corruption, the interconnected relationships between Hummingbird, Nioko, CIG, and Coris create a perceived risk of unfair practices that could harm private shareholders. Investors should remain vigilant and advocate for transparency, independent oversight, and regulatory scrutiny to ensure that any restructuring or asset sales occur at fair market value and in the best interests of all stakeholders. |
Posted at 01/1/2025 08:37 by trader465 Gold Price Impact on Hummingbird Resources (HUM)Annual Gold Production: 150,000 ounces. Current Gold Price: $2,600/oz. Annual Revenue: 150 , 000 oz × 2 , 600 USD/oz = 390 , 000 , 000 USD 150,000oz×2,600USD/o Profit Margin Analysis Operating Cost Estimate: $1,300/oz. Net Profit Per Ounce: 2 , 600 − 1 , 300 = 1 , 300 USD 2,600−1,300=1, Total Net Profit: 150 , 000 oz × 1 , 300 USD/oz = 195 , 000 , 000 USD/year 150,000oz×1,300USD/o Nioko’s Cost to Acquire HUM Share Purchase Price: £12.6 million ($17.5 million). Loan to HUM: $35.6 million. Total Cost: 17.5 M + 35.6 M = 53.1 M USD 17.5M+35.6M=53.1M&nb Return on Investment (ROI) for Nioko Annual Profit After Acquisition: $195 million. Time to Recover Investment: 53.1 M USD 195 M USD/year ≈ 3.3 months 195M USD/year 53.1M USD ≈3.3months HUM Shareholders’ Loss HUM shareholders sold the remaining 58.19% stake to Nioko for £12.6 million, valuing the company at just £21.7 million. Actual Value (Based on Net Profit Potential): With $195 million annual profit, HUM’s fair valuation could exceed $600 million (£470 million) at a modest P/E ratio of 3. Summary: Who Benefited? Nioko Resources (and Idrissa Nassa): Acquired control of HUM for $53.1 million. Gains a gold mining company generating $195 million in annual profit, representing a return of over 350% in under a year. HUM Shareholders: Sold at a massively undervalued price. Missed out on the benefits of rising gold prices and operational recovery. This deal heavily favors Nioko Resources and Idrissa Nassa, leaving HUM shareholders with minimal returns while Nioko profits immensely from undervalued assets. |
Posted at 01/1/2025 08:30 by trader465 Mr Idrissa Nassa is the man who will end up with the gold mines.Nioko Resources is not a mining company. It is an investment vehicle and a subsidiary of Coris Invest Group (CIG), which is owned by Burkinabe businessman Idrissa Nassa. Nioko Resources primarily focuses on acquiring strategic stakes in companies within the mining sector rather than engaging in direct mining operations. Key Points About Nioko Resources: Focus on Investments: Nioko Resources specializes in acquiring mining assets and shares in mining companies. It is part of a broader strategy to invest in resource-related businesses, leveraging financial and operational opportunities in the sector. Recent Activities: Hummingbird Resources: Nioko has been involved in acquiring a controlling interest in HUM, a gold mining company operating in Mali and Guinea. Orezone Gold Corporation: Nioko acquired a 19.99% stake in this Canadian mining company, reinforcing its focus on gold mining investments. Parent Company Support: Nioko is backed by Coris Bank International, which provides financial leverage for its acquisitions. Comparison to Mining Companies Unlike a mining company, which engages in exploration, extraction, and production, Nioko Resources operates as an investment and holding entity. Its role is to provide financial backing, strategic oversight, and capital to its mining-focused subsidiaries or investments. In Relation to HUM Nioko's involvement with Hummingbird Resources aligns with its investment strategy but does not involve direct management or mining operations. Instead, it is positioning itself to benefit from the future profitability of HUM’s gold assets. |
Posted at 01/11/2024 23:51 by trader465 BT a holder here sent me this reply she received from an alleged acquaintance at FCAI've been unable to locate a firm called HUM plc (or Hummingbird Resources Limited), which means they're not authorised by the FCA. If they’re offering particular products or services (known as regulated activities), they would need our authorisation to do so. I’ve also been unable to find an entry on our Official List for HUM plc or Hummingbird Resources Limited. The Official List is a public record of whether a company’s securities are officially listed in the UK Please be aware that if you deal with a firm who aren’t authorised by the FCA, you wouldn’t have any protection in place from the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if something went wrong or if this was a scam. We’ll be unable to provide any assistance in recovering your money from an unauthorised firm. I’ve today referred the information you’ve provided to the appropriate teams for their consideration. If they require any further information from you about this, they’ll ask me to contact you again. I hope you will understand that it is often not possible for us to tell people about the outcome of any action we may have taken in response to the information they have provided to us. This is because much of the work we do with firms is covered by legal and policy restrictions on what we can disclose. Your next steps From the information provided , it appears that HUM is listed on the Alternative Investment Market (AIM) at the London Stock Exchange, you may wish to report your concerns to the AIM Regulation Team. I’ve listed their contact details below. Phone: +44 (0)20 7797 4154 Email: aimregulation@london |
Posted at 01/11/2024 22:25 by temujiin RNS 24 Sep 2024 the Group had net debt ofTotal $153.5m Todays RNS end of Q3-2024, Hummingbird held a net bank debt of approximately US$135 million ....in addition, the Company has approximately US$20 million of unsecured debt Total US$155m So HUM have essentially become commercially break evens during Q3, which is the rainy season. This is both a positive and a negative, negative because POG is so high we should have been canning the debt by now, but positive that despite their gold hedge and the rainy season, HUM have stabilised their financial incontinence . Also given Coris and HUM have 'an agreement on the wider restructuring being concluded on or before 6 November 2024', then imo, HUM have 'probably' reached a turning point. It could finally be the right time to buy. |
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