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Recent discussions among investors on ADVFN regarding Hummingbird Resources Plc (HUM) reflect a sentiment of disappointment and uncertainty as the company approaches a definitive takeover by Nioko Resources. As of February 20, 2025, Nioko has garnered acceptances for 81.79% of Hummingbird's shares under its cash offer, leading to a pivotal moment in trading, with commentators speculating that shares may trade at around 20p before being pulled from AIM. Many investors feel cornered, debating whether to sell their shares for a significant loss or hold out for potential recovery in the future, as illustrated by comments like, "for most holding these, selling or keeping is not much different."
Investor sentiment has been notably critical, with users expressing discontent over perceived mismanagement and market abuse within Hummingbird. "Something just wasn't right here," said trader465, echoing the frustrations of several forum members who believe they've been adversely affected by the company’s trajectory. The overall atmosphere suggests a growing urgency among shareholders to weigh their options carefully as the delisting date approaches, with thoughts on potential legal recourse adding another layer of complexity to their decision-making process.
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Hummingbird Resources Plc is preparing for significant changes as it approaches the final day of trading on the AIM market of the London Stock Exchange, which will occur on February 28, 2025. Following this date, the company's shares will no longer be tradeable on AIM, leading to a substantial reduction in liquidity and marketability. The anticipated cancellation of admission to trading is expected to take place shortly after 7:00 a.m. on March 3, 2025. In tandem with this delisting, Hummingbird will be re-registering as a private limited company, and shareholders not yet accepted the offer are being encouraged to do so promptly.
Additionally, Nioko Resources Corporation has provided updates on its offer related to Hummingbird's delisting, emphasizing that any responses to the offer should be grounded solely in the terms outlined in the Offer Document. This communication underlines the transition period for Hummingbird Resources and reiterates key steps for shareholders during this pivotal moment for the company. Overall, these developments signify a critical shift in Hummingbird's operational framework as it moves away from public trading.
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Hi Dusty it’s more to do with the situation I’m invested as I knew it would end up un a situation where coris struck. |
dusty42 I agree 100% with what you say here. With different management this absolutely could be profitable. Multitudes of shareholders have already said that. Get rid of Del Boy, Tom Hill and the other hangers on. Put some DECENT management in charge. Simple. |
Ha.. ok burt, you being goldinvestor makes some sense. I was wondering why on earth you seemed pleased at the prospect of voting yes and getting 2.6p for your shares. |
burt777 All well and good. And I also predicted that this would happen because I had good reason to. Nobody listened. But don't the long time shareholders need to know exactly why the co. has deteriorated to such an extent over 5-6 years? Where are the missing millions? I don't believe PP management is the only problem here. Nor does trader465. |
In summary |
Kenji hope you read this board as well , I deleted my profile on LSE , I am gold investor. I hold 1.31% it’s disclosed to the market. I thought I would have to remain silent so thought it best to delete my profile but I am assured I can have an opinion. |
Burt777 Sad really. Even Bernie Madofs ponzi scheme victims were awarded something after the enquiry. |
Sadly over here they are toothless and nothing will be done. |
Burt777 Not sure if I understand your thinking here. If the AIM investigation proves conclusively that there was something amiss here, how will "they" make a lot of money out of it? In other words, here in the US the FTC would prosecute. This co. wasn't registered in the UK with the FCA. What would be the probably consequences of an AIM investigation? |
No doubting it’s the end game and the damage was done , all my point is that this isn’t valueless to shareholders. It should be pretty nailed on that 2.66 equity conversion will happen. |
Never mind Plat and Infinity888. Now you can fill not only yer boots, but yer waders! |
What I meant is Yano has been discounted for a long time in value. |
Exclude Yano? Perhaps "the asset was always producing a lot of gold". It's where the gold ended up that worried me. |
Absolutely understand why people think this is a lousy risk. But I look at things like this , coris are far better converting to equity the CIG loan , why lend it 10 million more on the 6th November ? |
Looks very sick now! |
"IMO, this is a lousy risk-reward to try and arbitrage. Yanfolila is finished (see recent events in Mali), the Dugbe deal has seemingly fallen through, and Coris have no reason to be generous to equity." |
Yes, I'll tell you. This is HUM. Everything which looks good turns out to be 'fool's gold' !!! |
Biggles - Because the offer to buy shareholders out at 2.6p has NOT been made, only mooted, and may be reduced in value or never made at all. |
Anyone tell me why I wouldn't by at 2 to get 2.66????? |
Those who have been saying for as long as I can remember that they see light at the end of the HUM tunnel (and especially those who backed that assessment with purchases when the price briefly spiked up a bit toward 10p) now appreciate that such light was an oncoming train. |
Interesting the market will pay over 1.95 for 1 million shares , feeling that night their must be a big buyer as well as seller. |
The market is deciding that 2.66P is a good offer currently. Regardless of where we are or the potential for investigations I’ll be voting yes with my shares. |
Gentlemen. Approximately 5-6 years ago I was told things about Hum that I found disturbing, more or less along the same lines as the information trader465 put on here. I believed at that time that two of the "investors" had reported this to the FCA but nothing happened. We all know now that was because Hum were not registered with the FCA. |
Type | Ordinary Share |
Share ISIN | GB00B60BWY28 |
Sector | Gold Ores |
Bid Price | 2.60 |
Offer Price | 2.80 |
Open | 2.75 |
Shares Traded | 497,293 |
Last Trade | 10:43:39 |
Low - High | 2.70 - 2.75 |
Turnover | 167.11M |
Profit | -24.36M |
EPS - Basic | -0.0259 |
PE Ratio | -1.04 |
Market Cap | 25.91M |
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