Hummingbird Resources Share Discussion Threads

[laurence llewelyn binliner] 17/4/2024 09:58

31.01.2024 - The Companies near-term revenue protection scheme has been finalised with 60,000 oz protected across the first three quarters of FY-2024 through forward pricing and cost collars, with an average floor price of USD2,000 per oz and upside of up to USD2,150.

[lowtrawler] 17/4/2024 09:48

Until there is news about Coris and their additional support, it remains difficult to assess a fair price for HUM. Until the Corica situation is fully resolved and a reliable schedule put in place for commercial production, the support from Coris cannot be properly defined.

For all the good words in yesterday's announcement, the lack of resolution with Corica and inability to plan through to commercial production and beyond leaves shareholders in limbo.

[dickbush] 17/4/2024 09:38

Just consolidates what we already know except that it suggests only 30,000 oz hedged.

[dickbush] 17/4/2024 09:18

Predictive Discovery's Bankan project is next door in mining terms to Kouroussa

[backmarker] 17/4/2024 09:07

It looks like we may have reached a temporary standoff. Just one trade so far this morning (the first two were there when the market opened) suggests all who want to buy have bought and all who want to sell have sold. We may now have to wait until the Q1 update - and that may well be delayed a bit- before we get the next stimulus.Personally I think the Q1 figures won't look too bad helped by POG. Will we get a live presentation ? Maybe that would be too difficult for Betts to handle if it includes a Q&A. Unless the Corica issues are resolved.

[borderterrier1] 16/4/2024 23:49

Hi TBTT. Thanks for that info. that's very interesting and I admit quite a shock and unexpected bombshell! I read the link from Sword 77. It doesn't look good for ANY gold miners in Mali now, does it? Least of all the ones with idiot management. Time to throw the towel in I think, this may be the final coffin nail? Of course, the Wagner group has been actively taking over gold mines for some time but I am certain most don't know about this present, recent situation. So, why the recent interest? Perhaps there is some hidden agenda that we don't know about? And I agree 100% with your observations of SOME (but not all) billionaires. I absolutely would not change places with some that I know! Money definitely is not everything!

[tigerbythetail] 16/4/2024 22:13

Hi BT!
Here comes big trouble for Hummingbird in Mali. This has been on the cards for a long time - it's how Wagner operate right across Africa, but it seems that time is finally running out for Western miners in Mali.
www.mining.com/barrick-under-pressure-in-mali-as-regime-eyes-control-of-loulo-gounkoto/
I've been wrong about lots of stocks lots of times, of course, and I've taken lots of losses over the years, and I'm certainly not a billionaire (I've met a few, by and large I'm glad I'm not one!). But IMO the chances of HUM shareholders getting anything at all out of this mess are not high.
More generally, I have this sneaking feeling that now is a time to be pulling money out of stocks, rather than putting money in. And that includes gold miners.

[dickbush] 16/4/2024 21:53

A major piece on gold in the Telegraph, too big to publish here. It begins

Gold is sniffing out monetary and geopolitical dystopia

‘Never seen before’ levels of buying could be the makings of a war chest

AMBROSE EVANS-PRITCHARD
16 April 2024 • 3:43pm

“It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily.

Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70 basis point jump in 10-year US Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold.

[dickbush] 16/4/2024 15:02

Pasofino Gold Limited - Pasofino Gold Announces Start of Drilling at 'Bukon Jedeh', Dugbe Gold Project in Liberia

A sign of confidence.

[laurence llewelyn binliner] 16/4/2024 13:54

Progress at KEUG
Progress at Kouroussa
Progress at VEIN / Dugbe

We are in danger of moving forward, next stop commercial production status at Kouroussa and making money over and above the AISC.. :o)

[jedi k] 16/4/2024 13:29

https://www.linkedin.com/posts/hummingbird-resources_earlier-today-we-provided-an-update-on-the-activity-7185955704246038528-vwcZ?utm_source=share&utm_medium=member_iosVideo and pictures of the update.

[borderterrier1] 16/4/2024 13:24

Hi TBTT. I agree and like you, I am also now very skeptical about this; it is virtually impossible for anyone to research it properly. Having said that,as you know I have been "invested" here for a long time. Over that time this has been a constant frustration for me and I am down substantially. I am very privileged to live in an area of the S USA when millionaires are ten a penny, billionaires are very common and most of them love to do something that I regularly give them advice on. One of them is now close to 90 years old, he has been a stock trader all his life and sharp as a tack. In that respect, I am very fortunate and listen to his advice.

During our conversations, that guy and also some of these other clients know I am invested here and recently a couple of them have suggested that this really may be on the mend. I didn't delve into why they thought that but others with more investing savvy than me have recently said the same thing on here. I hope they are right.

[backmarker] 16/4/2024 12:56

That 335m level looks tasty. Only 12m away. In the old days you'd hire a bunch of Irish navvies and they'd have it sorted PDQ.

[tigerbythetail] 16/4/2024 12:31

Honestly, I'm amazed by those trying to read the positive into today's RNS.
Do people seriously think Corica are going to take this treatment lying down? Or that Coris Bank's tolerance has no limits? Or that HUM are not in dire financial straits right now?
I'd still rate the risk of a total equity wipeout as probable here. In truth, another discounted bail-out placing is likely the least bad option available for shareholders.

[sclper] 16/4/2024 12:28

Main thing is Coris Bank is supportive and is indirectly the largest shareholder by far

[plat hunter] 16/4/2024 11:41

They indicated 77m for this year so I just devided by 4 for a quarterly commitment.

Most at 8% over 2 years, several million at 12% payable in 2028. All Coris

[backmarker] 16/4/2024 11:28

Do we actually have any exact details of the loans and repayment schedule?1. Are all our loans from Coris ?2. What are the terms of each loan ?What was borrowed, for how long, at what interest rates? Are repayment dates fixed ? Can they be moved/deferred and at what penalty ? Can they be repaid early, and at what penalty.As far as I know the only data we have is the total debt at year-end and the amount they hope to repay by the end of this year.Does anyone know better?

[laurence llewelyn binliner] 16/4/2024 11:11

#PH,we do not know how any weeks out of 12 were 700 ounce pours at Kouroussa, just several, so best case would be 8,400 ounces but more likely under that, 5 or 6,000 would be a win..

Nonetheless, we are inching forward, and the likelihood of a further raise is retreating (a little) IF debt increased to plug the Q1 OPEX, some interest deferral for a quarter would be a bonus..

Q1 update now 2nd half of April..

[plat hunter] 16/4/2024 10:53

6 mill cash from ye
Circa 3.5k gold inventory from ye @ 2359 = 8.5million

Yan Q1 rev 38 million
Kor Q1 8.5k 17.5 million
Debt repayment (19.25)
OPEX (60)

Net Cashflow Q1 (9.25)

No where near as bad as what we thought towards the the start of March when this nonsense started up and manageable imo.

[dickbush] 16/4/2024 09:12

Yes, but, 1st and 2nd qtr production already hit. 3rd qtr is the wet season for both mines. So, 4th qtr is the first opportunity to see what HUM is capable of. Still, if we can see net debt declining from this qtr and some successful drilling results from Kouroussa and Dugbe, perhaps we can see a strong recovery in the share price.

[frogkid] 16/4/2024 08:59

That update went down like a bacon sarnie at Friday prayers.

[laurence llewelyn binliner] 16/4/2024 08:53

#DB, with 6/7 years of production (so far) and un-hedged coming out of Kouroussa, selling into that will have us debt free and in the black PDQ.. :o)

[dickbush] 16/4/2024 08:36

Gold Seen Hitting $3,000 at Citi as Investor Inflows Juice Rally
Citigroup joins list of Wall Street banks upgrading forecasts
Bank’s analysts raise price estimate for next year by 40%.

Gold is set to reach $3,000 an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc. said, adding to a roll call of Wall Street banks that have raised forecasts.

Analysts led by Aakash Doshi upgraded their estimate for average prices in 2024 to $2,350 and made a “massive 40% upward revision” in their 2025 prediction to $2,875. Trading will “regularly test and breach” $2,500 in the second half, they wrote. Gold traded at $2,387 by 1 p.m. Singapore time Tuesday.