Hummingbird Resources Share Discussion Threads

[borderterrier1] 21/11/2024 00:07

burt777 I agree, this is a lot more complex than that. As an example, Bernie Madof was found guilty of embezzlement which is "intentionally using funds for a different purpose than they were intended to be used."

I wonder why trader 465 (post 11696) said on here quote:- "Betts and Sins revenue soared 50%, wedding ring sales (during Covid) went through the roof and they doubled the workforce." Hummmmmmm.....?

[borderterrier1] 20/11/2024 22:34

Gentlemen. The one "concept" that everyone seems to conveniently ignore is the fact that this MAY have actually been financially viable all along.

[burt777] 20/11/2024 22:11

Tiger you really don’t understand the situation here , you just get off on thinking you do , it’s a lot more complex than that.

You’re a wind up merchant and from now on I won’t reply to you.

I’m happy to have your negative view , but coris are not offering any more than 20 million in reality so it is admin in a way , best they control the admin process for the sake of 20 million.

Why have they deferred debt and why have they extended 30 million recently.

You don’t seem to understand the situation does not lend itself to admin.

And throw in they are at commercial run rates

Come on here and apologise when I am right , I bet you don’t.

[tigerbythetail] 20/11/2024 20:29

People here seem to be having trouble with one very simple concept.
HUM's debts are due (actually overdue) and they can't pay them. They are insolvent.
How insolvent is a good question - how much do they owe Corica, their other suppliers and the two governments involved is unknown. But it's enough to know that HUM's fate is entirely in the hands of its bankers.
Most likely the next RNS announces administration, because I don't think Coris will go through with their mooted offer. They'll get the assets in any event as they have debt seniority. Or, just possibly, they'll reduce their offer further, but try to keep it going as a going concern.
Absolute cretinous stupidity to try and arbitrage this. Gold Investor aka Burt is a fool. You'd get far better odds of coming up with a profit gambling in Vegas.

[septblues] 20/11/2024 18:08

Is there a sum of the parts offset by debt around?

[burt777] 20/11/2024 15:50

Tiger I am well used to your posts over the years and have come to pity you , you know absolutely nothing more than the next guy here.

What will you say when I’m right , I’m not u interested in all your de-ramp I have been following this company 5 years I can make my own judgements.

I’m not panicking at all I’m excited to make 50 grand that’s it.

I could not care less about HUMS future I’ve invested at 2.2P

I don’t care about your view you think you know everything about every share , I am well versed with your pessimism on just about every miner I’ve invested on.

One thing I’ve learned is you know absolutely nothing !!! You always call it wrong. You were calling gold to drop it went up 650 dollars

I called that as well !

[tigerbythetail] 20/11/2024 15:06

You're in denial - you've taken a crazy risk and now you're facing losses.

HUM is hopelessly terminally insolvent - it can't pay its debts, which are way overdue. At any moment the plug can be pulled here.

And, yes, the situation in Mali (bad previously) has deteriorated dramatically in the last 2-3 weeks. And most likely the Dugbe potential buyer has walked. So Coris WILL be rethinking their 2.6p offer - these are material changes in circumstance.

And Kouroussa. If you knew any geology, you'd be very careful about claiming everything there is fine. My own private opinion is that Kennedy sold Hummingbird a questionable project at best. The grades claimed and the grades mined have never matched up. It's not like Dan Betts can't be taken in by a slick sales pitch - see Bunker Hill.

[burt777] 20/11/2024 14:55

Meant to read in the current reality and situation. Yes clearly they are in trouble for most investors. I’m essentially a proverbial vulture picking over the carcass

I do see a small chance of HUM escaping Coris’s clutches entirely.

You called it right border and so did I

What I am now focussed on is arbitrage mainly.

[borderterrier1] 20/11/2024 14:23

The things they say. "I warned everyone that Hum was in trouble but now I can see clear evidence that they are not in trouble." Really? Is that why the share price was 40p as a hole in the ground 6 years ago and today it is 1.90? Priceless!!!!!!

[burt777] 20/11/2024 11:19

Tiger the situation in Mali has been known a year , it’s factored into the share price and always has been

This is all about Koruso at the minute

[burt777] 20/11/2024 10:55

Tiger I barely even take in your views at all as your just someone that pops up all over with views that are often wrong , all I’ll say is let’s see how this pans and prepare to eat humble pie.

If I’m wrong I stand to lose a lot of money , but I am pretty certain what’s going on here and I’ve no doubt in the worst case I’ll receive 2.66P

I warned everyone that HUM was in trouble but I actually now can see clear evidence they are not in trouble and coris are been opportunistic.

You obviously don’t factor they are on commercial run rates. That is fact

I’ve called this right all the way and my money is where my mouth is as you know.

[tigerbythetail] 20/11/2024 09:22

I get that you're in over your skis and watching what you considered a sure trade going horribly wrong, but:
1. Mali has gotten significantly worse very recently - see the shakedowns at RSG and Barrick by the military junta. (Always remember 50% of Mali's exports are gold, so it's the one easy place for the junta to get quick cash (which they desperately need as the war in the North os going badly). I don't know if the junta have made demands of HUM as regards Yanfolila yet, or if they haven't got round to it as it's a smaller mine. But it's coming for sure. And, all in all, Yanfolila's value to HUM is now a fat round zero.
2. I read the Dugbe news as the potential buyer getting cold feet and backing out. That's $30m gone. I thought that was an excellent price for Dugbe, all things considered. I doubt they'll find anybody else ready to pay that much. Or even a buyer at all. It's a very difficult project (for reasons I've gone into a hundred times already).
And, yes, these developments would cause somebody in Coris's position to reassess. They have security over the assets; so bankruptcy is an option for them. The only reason for them not to pull the trigger is they don't want to annoy / lose all the other creditors.

[burt777] 20/11/2024 08:35

Tiger Mali has been on going a year , your creating fear I get it. Dugbe theirs lots of interested parties that could bid higher and the current bidder is seeking finance. Least we have a ball park of firesale value.

On coris taking their time yes of course these things are complicated.

But many think the company has achieved commercial production so they don’t want this dilution and want to find other ways.

I don’t think you have popped up not knowing to much. But I can assure you the Mali situation was baked in to the share price and it’s all about Kuruso here as Yano was losing the company money , now break even.

I honestly think theirs an outside chance they can navigate this without all this and come out the other side.

They are on a run rate of over 30,000 a month at Kurso that’s 30 million extra that pays coris payments.

[tigerbythetail] 20/11/2024 08:05

I think an important RNS this morning despite its blandness - indicating that the Coris debt for equity deal may not be going as smoothly as planned.
Things have gotten worse for HUM over the last few weeks. UIN Mali, especially, with the actions of the military junta there. And, also, with the seeming collapse of the Dugbe sale. So maybe Coris are reflecting on those developments before proceeding,

[borderterrier1] 19/11/2024 12:55

Chesty1 This has been "dead for holders" for years, it's just a pity nobody would listen to logic and common sense. Now I'm hoping the the AIM investigation will conclusively prove this and the authorities will prosecute those responsible.

[chesty1] 19/11/2024 12:35

This is dead for holders....

[burt777] 19/11/2024 11:59

It’s already happened , it’s already over. But it’s cheaper and more efficient to take this out at 2.66

It’s never likely going to be anymore than that.

Its value to shareholders is now 20 million

Coris now have taken control of the rest.

[frogkid] 19/11/2024 10:23

I've been watching this for several years. Never dipped a toe in because of geography. I would get out now were I holding, this is likely to go one way.Good luck PlattyCheersFrog

[referee1] 18/11/2024 21:28

Hi all, does anyone know when the vote will take place and how us personal investors get access to vote? I use the Youinvest platform, will I automatically get a message with an option to vote when the time comes? Cheers

[tigerbythetail] 18/11/2024 12:39

Big shakedown of Resolute mine operations in Mali (Syama) by military junta there.
Some here having trouble understanding that HUM is insolvent and entirely at the mercy of its creditors. Best of luck to those trying to arbitrage the difference between the current share price and 2.6p, but it's not a game I would ever play. Way way too risky.

[borderterrier1] 18/11/2024 00:53

burt777 You're working with "logic and experience" with this? You're obviously comparing apples to oranges or extracting the urine, right? Over the last few years, two investors here have said the same thing, Plat was one, I was the other. Guess who was right?

[dusty42] 18/11/2024 00:36

All I hoped was to persuade you to think about it. What happens to the share price if it is announced that this is not going ahead? I'd wager gains might be better than 2.6p, particularly if kor is finally gaining momentum. Because let's be honest, kor is worth much more then 2.6p on it's own.

Other things I think could also trip Coris up in their ambition.

I'm not saying that what they are doing is 'immoral' a such.. it's 'opportunistic', 'just business'.. maybe. And it was DB and co that left the door open to it(though they may have been running short on options towards the end, to be fair). But you initially said Coris was just protecting themselves and I think that is a big stretch, they are doing a fair bit more than protecting themselves and if kouroussa is @ 2700/week, frankly everything is just fine and they need take no action. They are trying to take a paid for mine at a _very_ low price, just as it's on the verge of chucking out cash. Any existing holder with any sense should vote against that(just my opinion, not advice of course!).

[burt777] 17/11/2024 23:13

Absolutely agree with all you have said there and it’s food for thought.

Just reading bismarks message that I received a phone call from insiders , this is not the case. I work on logic and experience.

I think coris are doing what anyone would do in their position. But if Koruso is at commercial then it’s possible things happen here.

And my vote is not decided to be clear