Hummingbird Resources Share Discussion Threads

[jedi k] 02/4/2024 09:57

Mining start ups are difficult for many miners, as well low grade ore bodies, weather etc etc. Gold Fields said on Tuesday it had started production at its Chile mine after several delays, but the group's first quarter output is seen 20% lower due to operational challenges in South Africa as well as bad weather in Australia and Peru.The Salares Notre mine delivered its first gold on March 28,Gold Fields said in an update. The $1.2 billion Chile mine, whose construction started in 2020 with production initially expected early in 2023, missed several targets due to delays caused by COVID-19 and bad weather.Salares Norte is vital to Gold Fields' long-term group output target of around 2.8 million ounces annually. The mine is expected to produce 250,000 ounces of gold this year, before ramping up to 580,000 ounces in 2025.Gold Fields said gold production in the first quarter of 2024 was lower than expected, due to reduced access to the ore body at South Africa's South Deep mine, where operations were also affected by a mine fatality in January. The group expects quarterly output between 460,000 and 470,000 ounces, 20% lower compared to the first quarter of 2023.Gold Fields, however, maintained its annual production target between 2.33 million and 2.43 million ounces for 2024.The company's Australian mines, which produced 44% of the group's attributable output of 2.3 million ounces in 2023, were hit by flooding which damaged roads and restricted access to mining operations, particularly at Gruyere, a joint venture withGold Road Resources .Gold Fields said bad weather had also limited mining operations to lower-grade zones at its Cerro Corona mine inPeru, impacting output.

[jedi k] 02/4/2024 09:13

the Company confident of reaching a constructive resolution in the near term.

[backmarker] 02/4/2024 09:08

No news is frustrating.However the share price is moving up as punters start to move in . What do they know that we don't?

[laurence llewelyn binliner] 01/4/2024 18:15

#PH, indeed, not quite yet though, but this Q..

The company has agreed an incentive package consisting of a potential bonus of up to USD2.6M consisting of a cash bonus of up to USD0.75M with the balance of up to 1.85M (GBP1,395,000) payable through the issue of 6,342,857 new shares in HUM at the agreed price of 22 pence per share, to be issued 12 months after expected delivery date in H1-2024..

WACOM will soon have a vested interest in helping to find and supporting the working solution found, and it is now increasingly looking like Zimalco will be scaling up at Kouroussa..

[plat hunter] 01/4/2024 17:02

Yup LLB, I've just noticed that the CEO of WACOM has now liked it.

WACOM being a shareholder and all...

[laurence llewelyn binliner] 01/4/2024 16:55

#PH, good find, if that has happened over the weekend or today, we could get an update in the morning.. :o)

[plat hunter] 01/4/2024 16:15

Another Zimalco update, meet and greet at the office celebrating their partnership with HUM... Has attracted a like from HUM's mine surveyer at Kor too.

An RNS this week now looking quite likely.

[borderterrier1] 01/4/2024 15:42

Gentlemen. It's sad when posters on here routinely abandon objectivity in favor of B/S and Hype. The FACTS are that in 6-7 years this has gone from 40p as a hole in the ground to where it is today with gold at all time highs. Who would you blame that on?

[laurence llewelyn binliner] 01/4/2024 13:46

#PH, also expect Coris to support here, they want their capital back, the 10% interest on it, and ultimately dividends from their 41% share holding, much easier to support than take control and have to find a way to run the operations themselves..

However, I want to see the evidence, the solution with the terms and conditions and any possible dilution quantified ahead of adding further, if it waits until after 8th April that is just fine, we will be news driven for sure and the sooner the better with 2,250 POG to sell into.. :o).

[plat hunter] 01/4/2024 13:08

Think about it... Coris lends the money and Coris Investment group gets shares.

As the debt is paid back the Coris bank receives it's capital plus the yield at the same time as CIG enjoys capital growth as the balance sheet is deleveraged.

Double barrel win win but only if HUM can pay back the debt, whether the schedule is 2 years or 5 years it doesn't really matter, so long as the balance sheet can be deleveraged in one way or another.

[plat hunter] 01/4/2024 12:59

Well I'm a buyer at these levels.. Primarily because I understand how credit works from a lenders point of view in addition to HUM's cashflow being very publicly visible.

With no trading updates on the finances, no regulatory updates about financial liabilities being missed or that cashflow isn't sufficient to cover any short term liabilities as would be required subject to listing rules.

The fact there hasn't been a default, the fact that lenders also have a fiduciary duty to assist borrowers where practically possible.

This isn't some rigged back room smokey game of stud. Where Cypriot Kris is trying to strong arm Hamit's kebab shops mafia style. Anyone who thinks that's what's going on here is deluded and clueless beyond any rationality.

Banks want income not assets. Coris will be rubbing their hands together knowing they can possibly increase their yield here in a falling rate environment by just extending 6 months or so.


Apologies for the racial slur, I actually love Kebabs and Baklava

[laurence llewelyn binliner] 01/4/2024 11:57

Q1-2024 POG spot was an average of USD2,076 so IF Yanfolila repeats Q4-2023 which was poor at c15,000 ounces / AISC 1,700 / margin 376 / EBITDA USD5.5M..
We had 2,908 oz (USD6M) held in inventory too, which is likely to be lower now..

FY-2024 outlook - Yanfolila: 75,000 - 85,000 oz at AISC below USD1,500 oz

20,000 average per quarter, POG USD 2,250 / AISC 1,500 / margin 750 / EBITDA USD15M going forward and enough to prop up Kouroussa near term..?

[backmarker] 01/4/2024 11:17

It's a bit early to get too pessimistic. At the moment the problem amounts to production at Kouroussa having to use lower grade ore than expected. And we don't know how much ore stocks are remaining. But we are still producing, AND at nameplate capacity.Yanfilola is presumably working as expected, and should be producing higher than expected revenue due to higher PoG.And we still have Dugbe, which based on Pasolini valuation may be worth more than our current market value.So we are hardly bankrupt.

[plat hunter] 01/4/2024 11:15

Looking like a gold old fashioned poop and scoop to me now

[laurence llewelyn binliner] 01/4/2024 11:10

#PH, could be so, IF Zimalco have the scale to ramp up their fleet and operators to match what we need then great, surely if Corica had enough men/machines they would have sent them in and put them to use at Kouroussa so they much have run out of machine availability and over reached after 9 months trying to ramp up and getting further behind..

See if we get an RNS in the morning, the company have had another BH weekend to find a solution or workaround to get the wheels turning again..

[plat hunter] 01/4/2024 09:54

LLB.. My money is on Corica not going back

[plat hunter] 01/4/2024 09:53

Pinch punch first of the month.

Q1 average POG 2060

[laurence llewelyn binliner] 01/4/2024 07:10

Anyone watching POG..?

2,300 coming up faster than many expected and at full tilt there is our 1,000 an ounce margin, the fact the price has risen so strongly has to influence and add weight to our case for extended support from Coris bank while we work through the latest banana skin miner walkout event..?

Back to work please Corica ..

[borderterrier1] 01/4/2024 01:01

CreditCrunchies How DARE you suggest such a thing! Del Boy and Rodney wouldn't pull such a stunt. Would they...?

[creditcrunchies] 01/4/2024 00:36

I like the way they say they're so so close only one blast away from a massive increase in grade where we'll be in full production and those nasty contractors pulled the plug and walked off. It's the same old excuses I'm afraid they just vary on topic. Realistically you'll probably find they didn't pay the contractors because they don't have sufficient operating capital. Hence why they went to Coris.

[backmarker] 31/3/2024 23:29

Blinding light moment.We need to recruit Clint Eastwood. He can handle dynamite, sort mines, and lots more.Hey Betts, are you feeling lucky?

[backmarker] 31/3/2024 20:11

Shall we look Loki in the face and wonder if Yanfilola is throwing off more cash than expected due to the rise in PoG.Maybe they've even tweaked production up a notch to skew revenues forward a little.Several posters have mentioned that Corica is the operator at Yanfilola, but it doesn't appear on the map of activities on Corica's website. Curious.

[borderterrier1] 30/3/2024 22:24

PH On the loose with a stick of dynamite in his hands? Now, there's a thought........

[plat hunter] 30/3/2024 21:35

I'd give it a go George.. I struggle making a pot noodle safely but I do already have a hard hat and a high Viz vest so I'm halfway there.