Hummingbird Resources Share Discussion Threads

[laurence llewelyn binliner] 25/3/2024 06:53

#PH, in June 2023 we had the FGP at Kouroussa..In July 2023, Hummingbird notified Corica of a breach of contract due to the underperformance of the operation as noted above, granting the Company the right, as per the contract terms, to withhold all payments until the breaches are rectified and the operational deficit volumes are addressed.See if we get some news at 0700 and go from there, the companies position is clear from the above but we do need to get the wheels turning again..

[borderterrier1] 24/3/2024 23:21

Plat Hunter Correct.

[plat hunter] 24/3/2024 23:18

The greater the prize, the greater the tricks

[borderterrier1] 24/3/2024 22:15

No, I'm afraid not. Wait and see.

[darrenhorsfield2] 24/3/2024 21:27

Do tell more

[darrenhorsfield2] 24/3/2024 21:27

Do tell more

[borderterrier1] 24/3/2024 21:06

darrenhorsefield2. Perhaps a little bird told me?

[darrenhorsfield2] 24/3/2024 19:46

Easter Bunny or egg on your face

[farrugia] 24/3/2024 18:00

no they will agree but may need prompt payment.

[borderterrier1] 24/3/2024 17:35

TBTT I'm half expecting the Easter Bunny to be pulled out of the hat this week. Let's see if I'm right?

[tigerbythetail] 24/3/2024 17:03

Just a thought, but I hope everybody is considering the possibility that Corica may already be talking to Coris Bank, and that they are acting together to squeeze Hummingbird out of the mines.
Look at it this way - no other contract miner will agree to work on Kouroussa with this dispute unsettled, and Hummingbird desperately need money to continue operations, which realistically they can only get from Coris Bank, which is already their biggest shareholder.
Outcome? Coris Bank get the lot, Corica get paid, Hummingbird shareholders (except for Coris) get nothing? Or something very close to that?
It seems by far the most likely end game to me.

[borderterrier1] 24/3/2024 15:53

Plat Hunter. The potential. After many years here I think know how to read these guys now.

[laurence llewelyn binliner] 24/3/2024 14:19

#Plasbryn, a little more faith required.. :o)

A really tough spot for the company currently but common sense should prevail, it is in every ones interest to find a compromise and get the wheels turning again and as fast as possible, Coris holding 41% do have the most to gain and they want their USD140M back with their 10% interest on the top with the least amount of aggravation in the process..

See if we get a back to work RNS in the morning..

[plasybryn] 24/3/2024 14:09

Plat Hunter: "Penny stock Gold Producer about to take the leap into mid tier status. Watch for news about the current contractor dispute as once resolved the DCF valuations will become the driver of the market valuation."

"This is the one that could change your life."

Really!! I'm glad someone remains positive.

[plat hunter] 24/3/2024 14:01

Genuinely shocked BT1 agree with what?

[borderterrier1] 24/3/2024 13:43

Plat Hunter. Perhaps for the first time ever, I agree.

[plat hunter] 24/3/2024 11:31

Three month chart "Extreme upside potential"

[septblues] 24/3/2024 11:01

seems to me that both sides need a resolution

[plat hunter] 24/3/2024 09:10

LLB, cash was 7 mill at year end too, of which 5 was an advancement payment from the 28m raising.

I expect flatish EBITDA too but the free cashflow generated from Q1 gold sales should be at least 6 million. I'm nowhere near as worried about cash as the usual keyboard warriors have been shouting about.

Corp governance is second to none here for an AIM company, I doubt very much that Corica haven't been paid because we don't have the cash.

Absolutely fantastic opportunity to add down here, I got matched at 4.5p last week and sold them at 6p, managed to recover some of the cash I lost on the SB. Was hoping for a wee pullback from that so I can go again but that was quite the capitulation, we might not see that low again now.

[laurence llewelyn binliner] 24/3/2024 07:21

#PH, at the end of Q4 we had USD6M of inventory, +USD23M from the raise of 28M, 5M received inside Q4 so we are solvent, but 5M ear marked for exploration at Y+K

Q4 EBITDA was just about positive, so assume Q1 will be broadly similar.

Jan/Feb/March OPEX would have put a dent in the cash, and Q1 closes this week..

Hoping for an RNS tomorrow morning with a resolution to the contract miner problem so we can get started again..

[borderterrier1] 23/3/2024 21:44

Then perhaps you could read some of the posts after that one? Especially the "well orchestrated plan" that he talks about?

[borderterrier1] 23/3/2024 20:52

Read post 4549 August 2018 from Frank Campbell (who was at that time the company mouthpiece), and the post underneath from Dianecarberry. Why would he say what he says there, then sell a few days later when this dropped? Why would Ernie Nutter put a million in two months ago? Hummmmmm..............?

[whitehunter] 23/3/2024 19:50

Did that a few times. Only thing I can come up with is that you think the recent fall might have been orchestrated deliberately.

[plat hunter] 23/3/2024 15:46

Yanfolila still going, Kor is still processing, Dugbe is recieving capex, also hires and requisitions have started for phase 2 of the tailings surface facility and exploration capex doubled at both Yanfolila and Kor

If the company was insolvent and couldn't afford to pay any part of it's liabilities then they'd be a trading statement from the company and all other operations at a group level would be placed under review. Given that the biggest shareholder is the bank then I'm pretty sure they'd be very keen to halt all capex to preserve current assets and cash if solvency was really in question.