Hummingbird Resources Share Discussion Threads

[laurence llewelyn binliner] 30/3/2024 17:00

#PH, if they were only moving ore we would be fine, however at present most of the BCMs moved is stripping waste and this is what is taking the time, but when we get down to the next bench, more ores, much less waste..

[jedi k] 30/3/2024 16:22

https://zimalcogn.com/You see the team standing outside the Kourossa office on their website.Plus look at the fleet size on the Transit page.ZIMALCO GROUPWe are a Guinean company specializing in the mining, logistics and transit sectors. With many years of expertise in these fields, we offer superior quality services to our local and international clients. Contact us now to find out how we can help you achieve your business goals in Guinea Conakry.Contact informationGuinea Conakry - Yattaya T6, roundabout Balcony building, 2nd floorEmail: [e-mail]: [phone]

[plat hunter] 30/3/2024 16:21

Well four trucks with an axle weight of 20 tonnes and one load per hour gives us 7.5t of ore per day against processing capacity of approx 3.5-4t per day.

[jedi k] 30/3/2024 16:15

And least 4 Trucks in the background.

[plat hunter] 30/3/2024 15:57

I counted 24 people in that photo, split into two 12 hour shifts and three people per fleet then rather coincidentally we arrive at the magic number of four fleets.

Is this looking like a another update on Tuesday or am I reading too much into this?

[temujiin] 30/3/2024 15:25

Good find Platt.

'With a dynamic and experienced team from Zimalco Group
We will never give up Hummingbird Resources plc Kouroussa (KGM)
We will achieve the 2024 goal with courage and determination.
Thank you to the General Management of Hummingbird Resources plc Kouroussa for the trust in Zimalco Group.'

Indeed sounds like a shot at Corica and possibly the start of them taking over. Just having an alternative mining operation option might bring Corica back to work. As you know I'm out atm, but would get back in once I'm more confident of future revenue.

[temujiin] 30/3/2024 15:20

LLB, if Coris are supportive again with renegotiated repayments and possibly another loan, and the dispute is resolved soon, then certainly the upside is there.

If Coris aren't supportive, then HUM need to process higher grades very soon before needing potentially needing to tap the equity markets.

[plat hunter] 30/3/2024 15:07

Looking at the photo's on that linked in post and it looks like a lot of people for just one fleet.

Anyone have any insights into how many workers a single fleet needs?

[plat hunter] 30/3/2024 14:47

100% agree LLB, i do wonder though if Corica in Guinea is a franchise office and we're dealing with an inexperienced team who is subject to very little group level oversight and direction.

[borderterrier1] 30/3/2024 14:47

japsoland Of course we understand the risk here, some more than others. But unfortunately, super smart punters like you often have the uncanny knack of ignoring the facts. Over many years now these guys have never, ever been able to provide "the output as suggested" what make you think they will now? Papering over the cracks is never a good strategy. Mistakes are still being made...at the expense of the shareholders. What don't you understand?

[laurence llewelyn binliner] 30/3/2024 14:31

#PH, good find, we were never advised who the back up contractor was with the 5th fleet, but given the Zimalco swipe at Corica, I wonder if they have had a temper tantrum with another operator being at the mine when it was their contract..

With so much at stake, HUM have to do what ever is necessary to get the wheels turning again, and scaling the back up miners fleet has to be done to get the volumes up..

Fact is, Corica have not delivered to contract (so far), so what are HUM supposed to do..? we cannot just sit back and let them take their own sweet time, we have commitments to deliver on..

[plat hunter] 30/3/2024 14:27

From earlier investigating it appears that the drill and blast engineer was on Corica's book rather than HUM's.

Looking out for such an engineer to start posting about their new job at Kor.

[plat hunter] 30/3/2024 14:12

I'm sure he knows enough people running obscure Mayfair offices from his earlier public school boy days.

That said, I'm happy to go along with it for the ride.

[jaspoland] 30/3/2024 14:10

hxxps://zimalcogn.com/

have to say this seems like a playground argument between two 5 year olds. But the risk here is we lose out totally. Let's hope these guys are genuinely able to provide 2024 output as suggested

[plat hunter] 30/3/2024 12:48

Anyone ever heard of Zimalco, are they the existing additional contractor we brought in at Kor or are they new?

Interesting post on Linkedin, stating they'll achieve 2024 expectations and "will never abandon HUM"

Sounds like a swipe at Corica from a third party.

[borderterrier1] 30/3/2024 12:39

Plat Hunter Unlike some of the stupid, delusional punters on here, neither of us are naive enough to believe that there are unicorns, fairies at the bottom of the garden and the Aim market runs on fairness and equality. I wonder what Del Boy did before he tried his hand at gold mining? Hummmmmmmmm...............?

[laurence llewelyn binliner] 30/3/2024 10:46

#Temujiin, cash flow is everything and survival, the risks have gone up here, but so have the rewards, running at full tilt we should or could be on for the thick end of a USD1,000 per ounce margin soon.. :o)

[plat hunter] 30/3/2024 07:45

Twice in as many weeks Border...I'm not used to this

[borderterrier1] 30/3/2024 00:30

Plat Hunter BINGO!!!!!

[plat hunter] 29/3/2024 23:18

I saw somewhere and I agree, HUM is a reverse pump and dump.

[borderterrier1] 29/3/2024 18:53

farrugia Perhaps "the market" knows that these guys are a bunch of incompetent clowns?

Unfortunately, even though I have many other investments, Hum has successfully destroyed my faith in fair mindedness, integrity, sincerity, decency and replaced it with deceit, hypocrisy, dishonesty and greed. It should never have been allowed to continue but unfortunately, it has. The ultimate winners here should be ashamed and no longer supported by anyone.

[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