Hummingbird Resources Share Discussion Threads

[backmarker] 08/4/2024 07:05

Still no update on Kouroussa. And no new conspiracy theories either. How boring.

[plat hunter] 07/4/2024 20:41

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#MALIMININGNEWS

Despite a severe power crisis in Mali with frequent blackouts, the country's mining companies are not affected as they have their own stand-alone power plants. Hummingbird Resources, a British company, has confirmed that its operations at Yanfolila continue uninterrupted thanks to an on-site power plant. Mali's gold mines, including Barrick Gold's, are increasingly integrating renewable energies, such as solar power, into their energy mix to reduce greenhouse gas emissions. Mali, Africa's third largest gold producer, also sees companies such as B2Gold, Resolute Mining and Allied Gold contributing to its industrial gold production.

To read the full article click on the link below:



#Mali #ElectricCrisis #GoldMining #Renewable Energy #BarrickGold

[borderterrier1] 07/4/2024 17:49

Plat ?????

[plat hunter] 07/4/2024 16:48

Check this out.. Super cool, I want a go 🤣🤣

[darrenhorsfield2] 07/4/2024 15:19

I have sent a query asking for more info on the job inc where the vacancies are and which mines

[laurence llewelyn binliner] 07/4/2024 15:12

Well, well, we need all of those skills, someone has asked the question where/what mine, and is it Kouroussa..?, Corica are gearing up, but is it for us..? keep checking the comments to see IF it is in Guinea.. :o)

[plat hunter] 07/4/2024 15:11

That could be for anywhere, West Africa is gigantic

[darrenhorsfield2] 07/4/2024 12:41

Highly unlikely it's for HUM mine, but you never know

[jedi k] 07/4/2024 11:13

https://www.linkedin.com/posts/abdoulaye-bamba-7b7890108_corica-mining-services-is-recruiting-to-join-activity-7181998633469235202-ZM9z?utm_source=share&utm_medium=member_iosWho is this for?

[creditcrunchies] 07/4/2024 10:06

They've issued so many shares and they'll need to issue more due to negative working capital just to keep current operations running. The loan repayments are high with very little wiggle room for delays. They are not in a position to pay dividends nor will they be in the medium term so no shareholder value there. They are not in a position to buy back shares to give shareholder value there. All I can see is a management deal excluding shareholders where the assets get transferred to other companies, debt gets paid off. HUM just becomes a shell with hardly any assets left. BOD on the board of another company. Pretty much in agreement with Kenny.

[borderterrier1] 06/4/2024 14:40

kennyp52 You are 100% correct. I certainly wish I had never invested. Many with much better investing savvy than me thought this had actually at last turned the corner, as the recent spike indicated. But, once again, it fizzled out as it always does, with no explanation from the "management". Nothing. That's absolutely shoddy treatment for the long time faithful shareholders. But of course, the explanation may be simple as you say?

This is behaving completely irrationally now, nobody knows what is going on, there is no logic whatsoever and the Ceo is once again treating long time investors here with absolute contempt. Starting to look as though everybody (apart from the Ceo and management of course) has been screwed here, including the banks. It's disgusting and very disturbing that this is allowed to continue.

[kennyp52] 06/4/2024 14:09

Right .. it’s simple for me .. this has been trading for how many years ? How much has it paid in dividend ? What is the fundamental point in shareholders providing capital ? A return . If this is not on the horizon in the foreseeable future then all you have is smoke and mirrors and a lifestyle company for the directors only . There it is .. boom 🤷‍a94;️

[laurence llewelyn binliner] 06/4/2024 13:58

#PH, that is about the size of it, our OPEX is around USD20M a month for both mines and that is a lot of cash outflows to balance, or ask for more payment deferrals, most likely the next 20M that will need plugging due to the stoppages..

Soooo close to pay-dirt, we just have to keep pushing on through to get there..

[plat hunter] 06/4/2024 13:31

It's the cost to produce that's the killer Jedi.

Breakeven at Kor is around 35 million per quarter so if we only do 5k ounces then that's an AISC of 6k an ounce or a loss for the Q of about 25 million. Hence my posts above about what grade and grade control there is, being so critical to our cashflow position.

[jedi k] 06/4/2024 12:21

https://www.linkedin.com/posts/zimalco-group-logistic-transport-0077a01b4_avec-une-%C3%A9quipe-dynamique-et-exp%C3%A9riment%C3%A9-activity-7179570422261121024-m1jj?utm_source=share&utm_medium=member_androidA lot of Zimalco workers there to support more than one fleet, even on an Interim basis. The higher Gold price will fund any short term premiums to Subcontractors. The plant is operating 24/7

[plat hunter] 06/4/2024 11:45

Corica deadline for full payment is on Monday apparently, so all this worrying could also be for naught. Fingers crossed that it is.

[laurence llewelyn binliner] 06/4/2024 11:40

The ROM pad stockpile will be marginal grade, but that will go up as we get closer to the higher grade, the problem lies in grade control and who is in running the rigs, if Corica have stopped that too, Zimalco are just moving waste stripping, we do not yet know the extent of their capabilities outside of moving dirt, separating gold rich ore from waste ore is pivotal to rebuilding stockpiles..

[plat hunter] 06/4/2024 11:05

What do you reckon of the ROM pad and more recently mined material.. Do you think there's a potential upside surprise?

[laurence llewelyn binliner] 06/4/2024 10:35

#PH on grade concerns..

Within the Project, Mineral Resources have been defined at four deposits, Koekoe, Kinkine, Bag Farm Junction and X-Vein. In 2008, Coffey Mining Pty Ltd reported in accordance with Canadian National Instrument 43-101, a code compliant resource of 1.043Mozs. In 2012S, RK Consulting (UK) Ltd using largely the same data set, grade domains and grade estimation technique reported as part of NI 43-101 PEA study of 966kozs.

Cassidy Gold Ltd recently retained Mining Plus Pty Ltd to remodel the mineral resources at the Project In October 2019, the MRE study, only the Koekoe deposit was updated and the same for May 2020. With the latest May 2020 MRE report for the Project (including the SRK 2012 NI 43-101 compliant resources for Kinkine) reported 1.18Mozs at 3.08g/t

08.06.2020 Koroussa purchase form Cassidy - consideration of GBP10M satisfied through the issue of 35,248,441 Hummingbird new Ordinary Shares at 28.4 pence.

GBP10 for every ounce of gold reserve published in excess of 400,000 ounces (subject to a maximum of 1,000,000 ounces)

Cassidy shall retain a 2% net smelter royalty on all gold sales by or on behalf of the Company over and above the first 200,000 ounces of its production and sales up to a maximum of 2.2M ounces of production and sales..

We just need to get to it..!

[plat hunter] 06/4/2024 10:26

There could still be a surprise to come out of Kor yet LLB.

As we get closer to the "pay dirt" the marginal ore will increase in grade as we get deeper and will sit nearest to the top of the ROM pad... They'll also know where exactly the higher grades are within the ROM pad and if we can manage to get anywhere near 2g's out of it then it could really save the day.

That said one of my biggest concerns is the grade and the fact that it isn't a JORC resource.

[laurence llewelyn binliner] 06/4/2024 10:07

#PH, POG only went over 2,150 mid/late March, so on balance there was nothing in it with the hedge in place for Q1, but going forward in Q2/Q3 it could be biting us to the tune of USD200 an ounce or more if it keeps going..

On a placing for USD20M, most likely the result to cover March/April costs from the down time while we are not mining, most irritating but it is what it is..

22.02.2023 - CIG new ordinary shares issued with the placement will be issued at 7.79 pence..

21.12.2023 - CIG new ordinary shares issued in with the placement will be issued at 11.2625 pence..

See if we get an RNS Monday for new ISA day..?

[darrenhorsfield2] 06/4/2024 09:46

Dan is reaping the GP rise and shafting us all. Seems he could not care about HUM as long as he keeps milking it dry

[plat hunter] 06/4/2024 09:30

Opportunity costs are really starting to mount now because of POG

[plat hunter] 06/4/2024 09:07

It was well discussed why hedging before Kor was derisked would be such a bad idea and It's done nothing but add unnecessary risk as we all knew it would, whilst providing Dan's wholesale gold buying business a multi million pound windfall.

I could have lived with it had we hit commercial production by now but it's now getting difficult to keep supporting Dan's ambitions. Fortunately volatility across a few different metal miners has allowed me the opportunity to add and really drive down my average whilst providing some additional powder.

I suspect there's going to be another placing here and a large one with regards to the derisory mcap but also at a premium to current share price I'm expecting another 20 million dollars for around 200m shares or circa 10p

90 day average share price circa 9.4p
12 months average share price circa 10p

I"m going to keep trying to get my average down as low as I can but I'm not happy in the slightest