Hummingbird Resources Share Discussion Threads

[lowtrawler] 20/3/2024 15:37

QS99, 2 sides to every argument. Public washing of dirty linen is not good for anyone. At the end of the day, HUM cannot afford to fall behind on production and need Corica to recommence work. My view is resolution will require Coris

[qs99] 20/3/2024 15:31

7-8p close anyone?

DYOR

[qs99] 20/3/2024 15:29

Interesting RNS

Isn't as B&W as some on here have tried to portray: HUM claiming breach, since July 23, interim payments, not the right amount quoted, bringing in 3rd parties to help...etc...

time for level heads at Board level to resolve & sort out.

DYOR

Glad I bought! DYOR

[farrugia] 20/3/2024 15:29

Cinoib - the mine is built!! That was the huge expense - now get the bloody stuff out of the ground!

[1hercule] 20/3/2024 15:28

No agreement soon by the looks of it

[cinoib] 20/3/2024 15:26

sos100 he s been in pole possition for years. I still plenty muppets loading up as 15 million buys gone through.Takes all sorts I suppose.

[lowtrawler] 20/3/2024 15:25

If HUM have the cash, they can easily resolve the dispute by putting it into ESCROW and going through a dispute resolution process. If they don't have the cash, how this ends will entirely depend on Coris. In fact, because they have failed to provide the required guarantee, Coris may still have a say even if the cash is available.

[sos100] 20/3/2024 15:17

Some really really poor AIM ceo out there but have we finally found the man that gets the first prize🤷‍;♂️

[jedi k] 20/3/2024 15:12

Also:The independent fleet is still mining at Kou. Romp pad has stock of low grade ore going through the plant.Gold at record high levels.

[farrugia] 20/3/2024 15:09

Remember that

1. they still have Yanfolila producing that is hopefully contributing.
2. they have half the resource in Liberia. (undeveloped mine)
3. this bloody Guinea mine is built! Its about digging up the stuff now!

I hope they can come to an amicable agreement and this should have never escalated to this level. Perhaps the fuel stop-gap got people pointing fingers on who to shoulder the liability of machinery stoppage. However I trust if this goes to the courts it could take a long while to get resolved and Hum can get new contractors meanwhile. So it would give it breathing space.

[plat hunter] 20/3/2024 15:09

As of year end. They had 7 million in cash and gold inventory of 6 million.

They then received a further 23 million from the placing on around the 10th Jan this year. So that's circa 36 million. But they spent 2 million of that on Dugbe leaving approx 34 million.

If Yan repeats Q4 production of 18k ounces at 1700 AISC then that's another 5.5 million free cash flow.

They've got practically 40 million at hand circa equal to mcap.

Just added 3k's worth bringing my average down to 10p now in for less than Coris.

[qs99] 20/3/2024 15:06

I think this will get resolved, Boards will get involved to resolve it and on such an RNS, $s to be made with the share price ...DYOR but I have put a few away this afternoon on that basis. DYOR

[beatme1] 20/3/2024 15:00

Bad news lands and it's opens at 2/3p

[cinoib] 20/3/2024 14:50

Thebest thing any of you can do, is short it to death than Beets won t have any alternative than sign on the dole, where he should have been years ago and some might get some money back on the short, if it s not suspended first.

[beatme1] 20/3/2024 14:50

More clowns buying the chasers

[sid_b] 20/3/2024 14:48

I was going to say Thomas Hill, Finance Director & Executive Director of the company, spent a stonking UK£1.7m in Jan to shore up their holding in the company. How can they let the company operations fail like this!

But then I recollected the bunch of bankers and analyst that form the board and mgmt. team at Kourussa is very weak. Most have no clue about operations in Africa. Near zero collective hands-on experience. Let me say that this is not even about operations in Africa. If you owe $27m of unpaid invoices you will be trouble anywhere in the world.

[farrugia] 20/3/2024 14:45

If you guys think you've had a rough time you should try investing in some Canadian companies. Argonaut Gold for one - been issuing rights issue once after another with warrants and reverse splits and what's not.

[temujiin] 20/3/2024 14:40

Anyone buying now are certainly taking a risk bet that things improve, which they may. Corica are an adult respected outfit but it seems they've been under performing at Kour.

HUM probably have a grievance about that but never shld have let things get this bad.

On balance I suspect it will be resolved, HUM will continue and be successful, but at what cost ti current holders?

[1knocker] 20/3/2024 14:39

Looks like this ship is going down.
Even if it stays afloat, the pumps are going to be working flat out for quite a while.

At least we have mostly been realists on this BB, so few if any will have been suckered in on the spike to 17, which seems a big number now.

[borderterrier1] 20/3/2024 14:39

frogkid. You need to realize that Del Boy is a used car salesman. He has no use whatever in his position here, because he has ZERO experience. GET RID OF HIM and this could be a different animal.

[nelson01] 20/3/2024 14:26

How do you not know you owe someone 27 million....lol