Hummingbird Resources Share Discussion Threads

[plat hunter] 20/3/2024 11:30

Bringing in Yanfolila to the mix would be deemed vexatious and would seriously undermine any claims that Corica might bring before arbitration.

[plat hunter] 20/3/2024 11:26

I very much doubt that 27 million includes yanfolila, otherwise it would be part of the same dispute and they would have walked already.

Yanfolila is a sperate contracting party to KGM too. If a company throws another contracting party under the bus because it deems that it can as a result of a different contract then that in it's self would be a breech of contract, so I can't see that in all honesty.

Out of interest/fun go check out this link, note the screenshot then try and find on Corica's own website?

hxxps://www.linkedin.com/posts/bernard-jean-amadou-abdouramane-50616971_corica-suspension-of-mining-service-for-activity-7175918946699595776-AjA_?utm_source=share&utm_medium=member_android

[papillon] 20/3/2024 11:26

What a liar you are borderterrier1.
This is what I actually said in my post 13179:

"This HUM log chart turned Strongly Bearish at the start of 2021 @ over 30p. You should have sold HUM back then, borderterrier1. That would have saved you money and saved you a lot of time posting incessantly on this bb! However you'd have had to find something else to moan about to occupy your time! 🤣

PS this HUM chart turned Strongly Bullish again in H12023 and then turned Strongly Bearish yet again in H2 2023 and it's been Strongly Bearish ever since.
The future for HUM? I've no idea as, unlike you, I can't predict the future. If I did buy speculative and very risky miners, such as HUM, I would wait until this chart turns Strongly Bullish before buying the shares (and selling as soon as it turned Strongly Bearish again!)."

What a LIAR you are borderterrier1. LIAR, LIAR, you're pants are on fire! 🤣🤣

[papillon] 20/3/2024 11:24

There are certain similarities with the demise of PUR.
Will the 5p support level (2022 low) be tested and will it hold?
borderterrier1 had a great opportunity to sell his HUM shares at the 2023 high of 20p. He should have taken it.

[laurence llewelyn binliner] 20/3/2024 11:22

#PH, my worry is any escalation could result in exactly that to use the leverage Corica have on their side at Yanfolila, contractually it should not happen, but disputes can snowball unless nipped in the bud..

An update would quickly fill the vacuum...

[lowtrawler] 20/3/2024 11:22

PH, you are clutching at straws, the news release is genuine and would not be on business wire if it were not. The Corica statement is very clear, they say it is the amount currently owed, not the commercial value of the contract. It won't surprise me if HUM have a different view on this.

At the end of the day, I don't believe HUM will be able to resolve the dispute without support from the bank and so shareholders are currently at the mercy of what demands the bank place on HUM to provide that support. My only comment on this is any demands coming from the bank are likely to disadvantage shareholders.

[plat hunter] 20/3/2024 11:19

LLB then why haven't they walked from Yanfolila then?

[arlington chetwynd talbott] 20/3/2024 11:18

Whatever the situation on the ground really is, what little we do know evidences a catastrophic failure of management on the part of HUM.

[papillon] 20/3/2024 11:18

There are certain similarities with the demise of PUR.
Will the 5p support level (2022 low) be tested and will it hold?
Holders had a great opportunity to sell their shares at the 2023 high of 20p.

[jbravo2] 20/3/2024 11:17

@PH
Ah I see.
So you're saying it's the $27m you think is wrong. That's obviously HUM's position.
Granted it might be, (there maybe a bit of spin on Corica's part) but it doesn't really matter.
Whatever the amount its more than HUM are prepared/able to pay to the extent that they're happy for 80% of mining to stop rather than pay.
That puts them in a mighty big hole with the money they have to pay back this year.

[on target] 20/3/2024 11:14

Plat Hunter should change their name to Straw Clutcher.

[laurence llewelyn binliner] 20/3/2024 11:13

#PH, hopefully we will get an intra-day update from the company, but it is really poor to not provide 1 after a deadline issued has passed, it just gives a vacuum for speculation..

The direct business wire link posted seems genuine though, as for the numbers it is possible that the invoices were deferred and totalled up since Easter 2023 and FGP in June, could be inc Yanfolila too..

They need to to pull this together PDQ...

[plat hunter] 20/3/2024 11:13

Hi Frog, Corica is a huge company, which is why I'd expect to see a news release on their own website, twitter and linked in channels.

I can't and that"s my crux so to speak .. also 27 million probably represents the total commercial value of the contract, unlikely it's the cost of 4 fleets being 6 months late. To buy they're around 5 million per fleet.

HUM have communicated by RNS several times about fleet mobilisation and mining rates being late.

[jbravo2] 20/3/2024 11:11

@PH
Are you trying to suggest this is a fake news story?

[frogkid] 20/3/2024 11:09

If Corica were underperforming their contract then why was it not announced by RNS by HUM?

[frogkid] 20/3/2024 11:07

Corica seem a pretty genuine firm Platty, I would be inclined to trust their word rather than the board of HUM.

[plat hunter] 20/3/2024 11:06

This is what I'm talking about. Check out the dates of the poster employment history too, they don't reconcile.

I'll give anyone 50p if they can find this on Corica's website.

[plat hunter] 20/3/2024 11:02

LLB, the problem I have is not whether the Berkshire Hathaway company is genuine or not but more so that I can't find the press release independently without following the twitter link.

There's a screen shot on linked in, supposedly from Corica but it's cropped so you can't see the domain address and I can not find it on their website.

[lowtrawler] 20/3/2024 10:58

DB, if I were Corica and owed $27m, I would want to be paid and it appears they have already been very patient. IMV, only paying most of this amount and providing the guarantee will cause the dispute to disappear. It seems likely HUM will need the bank to meet these requirements. In that respect, whatever the bank demands is what HUM will need to do. I'll leave you to decide what position the bank will take.

[jbravo2] 20/3/2024 10:53

"Corica has over two decades of history in contracting with major clients and is proud to have had zero litigation to this date."

Time to decide.
Go with all the past evidence or guess that HUM have finally got something right and it's Corica being unreasonable.

[lowtrawler] 20/3/2024 10:52

click the wskill link. It is clear Corica believe that is what is owed on current delivery.

[dickbush] 20/3/2024 10:52

Lowtraweler, I'm assuming that both parties want to reach a compromise. If indeed Kouroussa IS one blast away from high quality reserves it doesn't seem difficult to agree one. If not...

As always, Betts will do what's best for Betts.