Hummingbird Resources Share Discussion Threads

[backmarker] 15/4/2024 15:19

So, some panic selling. Are they right ? Does someone know something ?I wish I'd anticipated this, could have sold a few and bought them back. But hey, the spread is so wide I don't think I'd have made a worthwhile profit.

[borderterrier1] 15/4/2024 14:08

Oh dear! What was I saying? It's not looking good peeps is it? The grinning idiot strikes again.

[borderterrier1] 14/4/2024 15:22

darrenhorsefield. Plat is correct. I live in the S USA and moves like that over here are almost inconsequential. I'm reluctant to say too much because it always gets distorted on here, but in an effort to "calm you fears" I have a good friend who advises me with this and has done for some time. With the POG where it is today and where it looks as though it is heading, (especially with the recent, unfortunately increasing Global tension) he thinks things are stacking up for a move N here. I hope he's right, because he usually is.

[backmarker] 14/4/2024 14:50

Nevertheless I would have expected a resolution to the problems by now. We still don't know for certain why Corica stopped working. The only reason that makes sense to me is that they expected to have been paid more than they have been.When Betts said in February that the mining was uptodate, I infer that was because the 4th fleet had made up the Corica shortage. But maybe Corica expected to get paid for days worked rather than volume delivered. Since we don't know the detail of the contract, only that they were in breach, it doesn't make things any clearer for us. And I don't expect we will get full clarity even with the Q1 figures.

[backmarker] 14/4/2024 14:40

Without more facts this is all wild speculation. We don't even know what the repayment schedule is, or what slack there is.I listened again to the last presentation in February. Betts said that with the 4th fleet at K and having worked through the Corica delays and the fuel problems etc they were actually up to date.So with K at full plant production even working on the low grade ore they shouldn't have lost much of Q1 when they might have been working on higher grade ore. . Given expected delivery at Yanfilola plus the higher than expected POG, even allowing for the cap on 20k oz we may still have exceeded the Q1 plan. It is the lack of high grade ore at K to process that is now hurting. But even then we may still be hitting a total 20k oz across both sites and at a price higher than originally expected in the plan .So cash flow may not be so much of an issue. Up to now.

[darrenhorsfield2] 14/4/2024 14:29

Either zero for us shareholders or skyrocket

[laurence llewelyn binliner] 14/4/2024 13:53

#PH, the counter argument from the Corica side could be they have done us a favour being on a go slow, for every 10,000 ounces left in the ground we can now sell it for 2,350 and not 1,950 (+400 an ounce) resulting in USD4M more EBITDA a month when we get into the pay dirt.. :o)

6 funds over 3% each
Coris 41%

Big week coming up here with our Q1 update due.

[plat hunter] 14/4/2024 12:40

Anyone seen the share register since the last placing?? nigh on half a dozen hedge funds with huge AUM'S along with Ernie Nutters entey

[laurence llewelyn binliner] 14/4/2024 09:45

#Lowtrawler, I am expecting another 200M shares to raise the USD20M, but at least it will make EPS an easier calculation with a round 1BN shares in issue up from 800M.. :o)

Painful to have dilution, it is not a given yet, but expected, the irony of Corica being a buyer for some or getting some in lieu of payments due after causing the problem would take the biscuit, but that could be seen and sold as an incentive to get them back to work..!

[darrenhorsfield2] 14/4/2024 09:24

Hope so, I am already down 60% and weeks without news makes me very nervous

[plat hunter] 14/4/2024 09:01

I'm reluctant to read too much into that Darren...It was tiny trade volume of just 17k versus the hundreds of thousands that went through that the close in London.

Approx trade size of just 1300 dollars

[darrenhorsfield2] 14/4/2024 07:30

Down 35% over the pond, any news out?

[borderterrier1] 14/4/2024 00:46

Obviously, this didn't happen overnight and if Coris can't see where the problem lies and get rid of this clown IMO it has a good chance of going under.

[lowtrawler] 14/4/2024 00:20

LLB, as I said previously, any Western bank would already have wiped out shareholders through a debt for equity swap. HUM are very fortunate to have Coris but I suspect there will still be a lot of pain for shareholders.

[plat hunter] 13/4/2024 17:44

More chance of that happening with Coris firmly on charge than a band of disorganised private investors.

[borderterrier1] 13/4/2024 15:31

Get rid of the dipstick.

[laurence llewelyn binliner] 13/4/2024 14:10

#PH, encouraging to see the waste tunnelling rock coming out of KEUG too, we will see what we get next week in the update and post period news..

I do not think Coris will pull the plug on an operation so close to succeeding with USD150M owing already (but they could), I do see a further raise coming, but unclear which II or more will be buying it just yet, stings a bit because we should be billing Corica for the losses inflicted for failing to deliver to the contract after a year of ramping up from Q1-2023 and FGP in June..

See what comes out in the wash next week..

[plat hunter] 13/4/2024 14:02

🤣🤣 one day rodders

[borderterrier1] 13/4/2024 13:58

Plat Hunter. Wow! we really must be on the same wave length after all? I had a similar dream, one of the key operatives here caught a bad dose of monkey pox and in his absence an experienced guy took over. Very quickly things improved. Kor made a spectacular moonshoot, the share price climbed quickly as a result and I sold all my shares. Then I woke up.............................

[plat hunter] 13/4/2024 12:07

I'm also of the opinion now that the bods definition of commercial production is very different to what it was at Yanfolila.

Mildly optimistic for an upside surprise out of Kor next week.

[plat hunter] 13/4/2024 12:04

LLB, James Husband latest linkedin post on Yanfolila demonstrates that it's business as usual everywhere else,which is comforting as if cash or cashflow was the problem, we would start to see it hitting other operations by now even from a cash preservation and creditor protection point of view.

[laurence llewelyn binliner] 13/4/2024 10:59

#PH, a very interesting but equally irritating part in our journey here now after 5 years as a holder, occasionally above water but now well under and having doubled down once already I am waiting to do the same again, however having reached my risk threshold I want to see the evidence and terms of starting up operations again, 4 weeks down time has cost us badly..

Onward and upward, our Q1 update next week and hopefully the post period events update we really need.. :o)

[plat hunter] 13/4/2024 07:52

Just had a mad dream that this went to over £2 a share in one go and I couldn't remember my log in details to sell some.

I was elated but also really panicking at the same time. I ended up bribing the IT guy to log me in but he gave me the keys to the whole system and I could see that someone in Wales had logged on to take advantage, and concluded that it must have been LLB

🤣🤣

[laurence llewelyn binliner] 13/4/2024 07:28

#Lowtrawler, exactly why I am waiting to add, Coris support will dictate direction..Coris have a lot to lose (or gain), but the easiest route by far is to continue with HUM who are soooo close to pulling it off, we do have history from Yanfolila, and they will want to be a part of Dugbe, would they really pull the rug and still have to deal with the same problems themselves after..? My best guess so far is we will see another 10/10 debt/equity or 20M equity next week or 2 and carry on as is..Our Q1 update cannot come soon enough..