Hummingbird Resources Share Discussion Threads

[sleveen] 28/3/2024 08:25

LLB

Should make for an interesting Q1 update.

Another placing vicar?

[blackhorse23] 28/3/2024 08:16

On the way bankrupt

[laurence llewelyn binliner] 28/3/2024 08:16

#Sleveen, we will still be running marginal ores through the plant from stock piles plus what the 5th fleet can deliver, but we need to get down just 1 more bench to the higher grades needed..

Sort it out over the weekend and update again, it will get resolved at the cost of a months production, Corica mine Yanfolila too..

[ukgeorge] 28/3/2024 08:15

"discussions with alternative and additional mining contractors"

"Hi can you come and do some mining for us, we have no money and have refused to pay our last contractor......."


"Ummm let me think, no thanks." every mining contractor in west africa

[jp2011] 28/3/2024 08:15

It wouldn't surprise if the contract was fixed price, costs of equipment, labour, fuel all subject to inflation and suddenly the contract is a lot less profitable to the point of walk away?

[sleveen] 28/3/2024 08:10

So the previous operational update:

"The processing plant continued to perform well and consistently operated at nameplate capacity, running on a 24-hour basis through the quarter. "

...must have been somewhat intermittent to say the least say 24hrs/month?

[temujiin] 28/3/2024 08:02

Holding RNS as required. Key points

'discussions with Corica, alternative and additional mining contractors, suppliers, and the Company's primary lender, Coris'..... Obv this is what is happening but unfortunately no indication of any progress.

'the supporting mining contractor continues to operate' Good news'
'with the processing plant processing this ore, together with stockpiled material.' Good

'Resolution to the current situation will allow the upcoming blast to proceed'.... Not good, this is a concern, why cant a blast happen with the current working fleet?

Market not placated.

[backmarker] 28/3/2024 08:00

Why has Corica failed to deliver? Did they promise too much? Have they been trying to pull a fast one over HUM ? Are they now in a position where withheld payments are squeezing them financially?
HUM have clearly been trying to shore things up by bringing in an extra fleet, etc. Has this soured the situation further?
But what are HUMs options? Are there any more fleets available?
A pity we don’t know more.
This could be the basis for a TV series. With Suranne Jones playing the Troubleshooter. Come back Roy Marsden or even John Harvey-Jones.

[kinwah] 28/3/2024 08:00

I thought the interesting part of the statement was West Africa. Why the secrecy where the meeting took place. My guess it was in Abidjan, Cote D'Ivoire where they could meet the top people at Coris and Corica and beg them to give HUM some leeway. Why ruin everything when so close to commercial production? My guess is they will negotiate something like a payday loan just to get them over this cash flow squeeze. It all depends on how hardball the Africans play.

[lowtrawler] 28/3/2024 07:47

Until the terms of any resolution are published, it is impossible to know what value to place on HUM shares. Anyone trading the shares is doing so blind.

[backmarker] 28/3/2024 07:44

It was always unlikely this situation was going to be resolved very quickly.Downing tools is a high stakes move for Corica. They risk loss of income and loss of reputation if they are ultimately deemed in the wrong.From the few "facts" we have it would appear to be an argument about Corica having failed to meet its contracted production levels over a long period and HUM having withheld payments.

[darrenhorsfield2] 28/3/2024 07:39

More bulls@it

[farrugia] 28/3/2024 07:32

this sounds promising

'Discussions are focussed on various scenarios and initiatives, with the Company confident of reaching a constructive resolution in the near term. '

[darrenhorsfield2] 28/3/2024 07:29

Yes but still no further getting this mess sorted, could be major so drop at the open

[laurence llewelyn binliner] 28/3/2024 07:04

Update out.., discussions underway..

[backmarker] 28/3/2024 01:41

Bt1, the investment HAS grown. Unfortunately the share price has not. Mr Market is amusing himself immensely.

[creditcrunchies] 27/3/2024 22:35

Probably some deal going on because it's gone awfully quiet. Flip of a coin right now.

[laurence llewelyn binliner] 27/3/2024 19:33

#DB, hoping for some news in the morning going into Easter, we get what we get but with POG hovering around 2,200 again we should be minting it now, not scratching around to keep going, they are making really hard work of it all when it should be plain sailing from now on in..

VEIN doing well and we own 53% of them / Dugbe now..

[dickbush] 27/3/2024 19:29

So, gold is hitting record highs, takeovers are kicking off after years of inactivity. All we need is for our company to get back to work. Let's hope that Betts' best interest aligns with ours.

[creditcrunchies] 27/3/2024 18:18

Sounds like somebody is suggesting a lump sum is incoming

[plasybryn] 27/3/2024 17:54

Not like you then. News tomorrow