Hummingbird Resources Share Discussion Threads

[farrugia] 29/3/2024 16:28

and Pasofino Gold with just their share command a market cap of 58.36M!! I can't believe we have a lower market cap excluding debt.

[laurence llewelyn binliner] 29/3/2024 16:02

Coris bank have 41% already, our loans are secured over the assets so this is an uncomfortable position to be in for sure, so it boils down to IF Coris will extend our O/D and/or delay our interest payments for a month to tide us over while the dispute is resolved and we can get back to the business of gold mining..

Or, would they pull the plug and take control..?

Perhaps having built 1 mine already and paid all the debt/interest back, now built a 2nd, they can see through the current hiatus and keep sight of the 3rd mine at Dugbe in the making which will also need financing and be a much bigger funding package of cUSD500M..? and we own 53% of it

[whitehunter] 29/3/2024 13:44

Wish your last sentence was true but afraid I don’t see it that way.

[laurence llewelyn binliner] 29/3/2024 11:56

#DB, we are sooo close to pay dirt now, it is hard to read we have managed to stumble onto yet another banana skin straight from the fuel supply crisis, to the miner downing tools on a Sunday and walking off site over an invoices dispute..

FGP at Kouroussa was 08.06.2023 almost 9 months ago now and we are still trying to get down into the higher grade ore, the company has forecast its cash flows around moving enough BCMs and the contractor has failed to deliver, again, tripping us over.

All parties have too much to lose to not find a resolution, and with POG at an ATH we are perfectly timed to sell into it..

[dickbush] 29/3/2024 11:24

Gold price averaged $2,164 in March. Up over 50% since I first invested in HUM which is down some 80% since. That's almost impossible to do.

[creditcrunchies] 29/3/2024 11:21

A lot say how much they're making on these since they were 50p down to 4p. A lot say they've average down to 10p with 30k worth in GBP currently with the holding -50% so worth 15k with a loss of 15k. This is not investing it's gambling.

[borderterrier1] 28/3/2024 22:40

temujiin Above board legally? Just how exactly would you prove that?

[jbravo2] 28/3/2024 16:46

:D
More mystical maths

[plat hunter] 28/3/2024 16:39

Added again at 5.8 sitting on 460k shares now.at 10p average now less than Coris.

Tuesday RNS, everyone has kissed and made up

[trader465] 28/3/2024 15:37

“punt -double your money”

Are you joking? Prat tried that lost half his money, plus fees, leverage losses, and interest 🤣🤣🤣

[1knocker] 28/3/2024 14:31

I wonder if the share price is being held up by PI gamblers who fancy a small punt -double your money if the problem is resolved, lose the stake if it is not?

I am not so sure it is as clear cut as that. It is easy to see how Hum goes belly up and the shares go to zero.
But a 'double your money on resolution of the present problem' upside?Even if operations are got up to speed again, the contractor's claim will not disappear. That will hang over HUM, complicating future borrowing and /or capital raises. I do wonder whether HUM iha passed the point of no return, even if somehow there is a return to full mining, and. the next bed is as good as it hopes. Rather like RMM, where the quality of the asset was not the problem, but the unsustainable burden of its debts. If so, someone will pick up the mines cheap, and quite possibly do well out of them, despite the jurisdictional and operational issues of working them - and exporting the profits!

Maybe the darkest hour is before the dawn, but I seriously wonder whether there will be a daybreak for Hum. I certainly will not be buying more.

[trader465] 28/3/2024 14:09

That’s because you have your eyes closed, and suffer confirmation bias

[borderterrier1] 28/3/2024 13:53

backmarker You "invest" to make money, right? As I have repeatedly said, these clowns are taking the pi$$, laughing all the way to the bank at YOUR expense. But I am, and I have always been, the village idiot to most long term investors here. Why? Because the shareholders don't listen. Even now, look at the comments from some. Delusional stupid yellow dog is STILL positive about this.

Price of gold around ALL TIME HIGHS and these clowns have the share price near all time LOWS? WHAT AN ABSOLUTE 4king MESS this is. There should be an immediate investigation here, malpractice, pump and dump etc. but there won't be. It absolutely is NOT Mr. Markets fault. The relevant authorities couldn't give a $hit.

[temujiin] 28/3/2024 13:46

HUM spent good money jointing the Gold Council, have a good ESG record as well as started the SMO gold coins thingy. It seems highly unlikely they would break their contract and try to shaft their main contractor on a whim.

Their ability to manage a gold mine is questionable, but I've seen no evidence ever that they are anything other than above board legally.

[creditcrunchies] 28/3/2024 12:47

We were so so close to premium high grade gold on the very next blast then the contractor held us for ransom with blackmail. That's HUM rns. Heard it all before

[lowtrawler] 28/3/2024 12:17

backmarker "The presumption is that Corica stopped work because they wanted more money".

I don't think either party has said that?


Corica has said they stopped work because HUM have not been paying them for work performed. HUM appear to have confirmed they were not paying Corica but believe they have a contractual right to not pay based on performance. The exact quantum involved is in dispute as well as whether HUM withheld the payments validly. These types of contractual disputes are common and normally handled long before getting to a point where the contractor walks out. If Corica genuinely believe HUM have withheld over $25m of payments without justification, it is easy to see why they downed tools. I don't believe any contractor would continue to operate if they had that level of unpaid invoices.

[polaris] 28/3/2024 12:11

Honestly, that is a BS RNS with little hard information and the dangled carrot of the 'next blast' leading to commercial production to keep the PIs and traders interested. Right now, delays will be eating remaining cash reserves and may lead to another raise to plug hole. That'll go to CIG (Coris) with the pre-emptive rights. At what price? Doubt it'll be favourable. That is where HUM is. Period.

[jbravo2] 28/3/2024 11:34

Don’t bother trader. It’s either fantasy stuff or so small as to be laughable anyway.

[backmarker] 28/3/2024 11:25

At this stage I'd be more concerned if the ball mill had failed and they were having to wait for parts, or if the problem was with the Corica workforce which it doesn't appear to be. The presumption is that Corica stopped work because they wanted more money. Perhaps the financial position of HUM and if they control blasting they saw a possibility of squeezing HUM to pay up.While the mining fleets are idle nobody is gaining. It's in everybody's interest to settle and get back to work.

[trader465] 28/3/2024 11:07

Prat sweetheart how’s that leveraged 9.2p buy looking petal?

If you lose 50% you need to gain 100% to B/E
If you lose 10% you need to gain just 11% to B/E

If you don’t know how to cut a small loss, you will sooner or later cut a very large loss

[jedi k] 28/3/2024 10:45

POG storming past 2200...

[lw425] 28/3/2024 08:56

My thoughts exactly.

Market is behaving like it knows there is another ' all resolved RNS ' next week which of course will bag the share price.

Gold at all time high and can only move higher.