Is it Burt777 selling out this morning in big 1 million chunks? |
I recall this stock +50p maybe 10 years ago. Dan has had good run |
Cinoib it was slightly sarcastic did make some cash in the past here but little hope of a meaningful return now. |
Another bullet for the poor dead dog called Hum. Time it was buried and forgotten. |
Well done to management on reaching this milestone excellent news. |
What an absolute scam |
Oh dear Hummingbird is starting to turn the corner and looking positive from here. But they have to down play that as they want to steal it from shareholders as a basket case. Take care how you vote when asked to is my advice. |
1knocker Perhaps the AIM investigation will find out that some have been "helping themselves to everything" for years here? If that proves to be the case, I know two punters in the UK that have lost a lot of money here. They obviously will be very, very upset. |
I would not envy an administrator trying to sell assets in this jurisdiction. And even less so trying to convince a purchaser that anything the Hum management says about those assets is true.
Probably there won't be much to sell. The locals will have helped themselves to everything which is not nailed down - and probably a good deal of what is nailed down. |
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.....? |
Gentlemen. The one "concept" that everyone seems to conveniently ignore is the fact that this MAY have actually been financially viable all along. |
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. |
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. |
Is there a sum of the parts offset by debt around? |
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 ! |
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. |
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. |
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!!!!!! |
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 |
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. |
 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. |
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