Hummingbird Resources Share Discussion Threads

[backmarker] 17/5/2024 03:52

Because I concocted it. Like Hollywood does. I guess sometimes a ct turns out to be the truth.CT#8 Same as #7 but the bad actors are a West African mafia who have bribed/threatened a number of Corica workers to cause the delays leading to breach of contract, etc.In these particular cases the theory is flawed. Given the market value of HUM the amount of stock they could acquire would not make the operation financially worthwhile.

[backmarker] 17/5/2024 03:38

This all suggests they should be continuing to operate at full capacity and presumably now with higher grade ore. If it takes two weeks for the ore to work it's way through the plant then commercial production should be happening now or any time soon.Depending on how long they want to run at commercial production before confirming it then there ought to be an RNS very soon.Bwtfdik.

[taylor29] 16/5/2024 13:49

@ Jedi, Yes ive seen them all im always looking on linkedin re Hum

[jedi k] 16/5/2024 13:45

https://www.linkedin.com/posts/mohamed-coumbassa-1267b068_back-to-site-coricagn-activity-7193192602958004224-QJyJ?utm_source=share&utm_medium=member_iosHave a look at all the comments from all the Contractors and Partners, including Etasi, Wacom, etc They are definitely back on site but obviously we do not know under what contractual arrangements.

[borderterrier1] 16/5/2024 13:41

backmarker. Isn't what you suggest normal operating procedure here? What makes you think it is a conspiracy theory?

[taylor29] 16/5/2024 13:36

I got this Yesterday

On Wednesday, 15 May 2024 at 17:40:39 BST, Investor Relations wrote:


Dear XXXXXXXX,



We appreciate your patience as we work to address the current situation affecting our mining operations.

Regarding your specific concern about the Corica, we cannot provide specific details at this moment, but we are actively working to implement solutions to restore full mining operations as soon as possible.

Best Regards,


Investor Relations Team

[jedi k] 16/5/2024 13:01

https://hummingbirdresources.bamboohr.com/careers4 job opportunities at Yani and KGMLooks like normal operations at HUM.

[laurence llewelyn binliner] 16/5/2024 06:56

POG coming up on 2,400, could go through it today.. :o), 1,000 an ounce margin on what we produce going forward..

[backmarker] 16/5/2024 06:09

To while away the time while we wait upon the next update re. Kouroussa I thought I would dream up some conspiracy theories. CT #7. Senior members of Coris and Corica engineered the down tools in order to lower the HUM share price Using aliases and offshore companies and the like they acquired HUM shares at depressed prices to sell later when work restarted and Kouroussa reached commercial production. The extension of the length of the debts owed by HUM produces extra interest for Coris.Enjoy.

[borderterrier1] 15/5/2024 19:17

taylor29. I think you may find that even with excellent news, this will continue to drop like it always does. Nobody trusts these guys now.

[taylor29] 15/5/2024 13:18

No news is good news, But not with Hum i feel!
The share price is slowly but surely dropping and i feel it will continue with no news.

[borderterrier1] 15/5/2024 13:06

mostyndavies Your reply is unfortunately, typical of some of the delusional answers on here. In the past, "they" have said lots of things, leaving themselves open to "Civil and Legal claims". But the hard FACTS are, this continues to deteriorate. I suspect the share price will never again see the dizzy heights of 40p when it was a mud field seven years ago. Who would you blame that on, genius?

[tigerbythetail] 15/5/2024 13:00

1Knocker - fully agree.
I'd add that "averaging down" is, on average, a losing strategy. Especially on AIM.
On average and over time it's far better to ride your winners and cut your losers.
If posters really have gotten back to break even on their investment in this poorly-managed accident-prone company, then I'd respectfully suggest that they should give thanks to the investment gods that they've dodged a bullet and sell up.

[borderterrier1] 15/5/2024 12:21

Investment definition, Cambridge dictionary:- The act of buying assets that increase in value over time. It seems plain enough to me. What don't some of you muppets understand?

[1knocker] 15/5/2024 10:36

I don't understand the fixation on average purchase prices.

An original investment at 40p is unaltered by a subsequent investment, whether at 10p or 80p. Each tranche of money invested is a separate investment. One can make both good and bad investments in the same stock, depending upon the price at which you buy (and sell).

The ONLY reason to make a further investment in a stock, whether above or below the price at which one initially invested, is that the stock seems likely to rise fro the price prevailing when you consider making a further investment.

[backmarker] 15/5/2024 09:46

Very much how I see it too.Only difference is, as my average went down from 40 to 10 I felt philosophical rather than bitter. These are high risk investments and you have to be prepared to lose the lot.

[mostyndavies] 15/5/2024 08:12

Some people on here are trying to scare monger I believe. Some of the things being stated are untrue. Maybe if TBTT etc attended company presentations and asked direct questions to directors then they wouldn't post such nonsense.

There is a video free for anyone to watch where directors are clarifying that the Coris Bank loan is relaxed and there are no covenants as such. I can believe this. I've had unsecured and secured loans myself.
They have also said there will be no short term dilution.

As this information has come from directors of the company, I believe they will be sticking to it, as otherwise they are opening themselves up to Civil and Legal claims.

There are some nice photos of Kouroussa in operation day and night. As soon as the commercial production RNS is released this will be 20p. It barely tested 5p when all hope was lost so I would say the trolls are out. But why? I'm surprised they don't have anything better to do, or are they trying to buy at a lower price knowing that the share price will sone take off.
I was bitter when my average was in the 30's. I was bitter when it was in the 20's.

Now that my average is under 10p I am no longer bitter and I am actively communicating with the company when I have questions. They are fairly prompt at answering them. Time will tell. Good luck all.

[1knocker] 14/5/2024 20:32

An agreement (of any sort) with no terms would indeed be a contradiction in terms. Absent any terms, there is no agreement at all.

Technically the term covenant means a promise made under seal (ie in a deed) but is used colloquially in relation to loan agreements refer to obligations not to breach limits such as loan to value of assets ratios.

I am quite sure that Coris (or any) bank lending to Hum will insist upon a decent rate of interest and security and other terms to safeguard itself against the risk of Hum's inability to repay capital and interest as they fall due. it is no secret that it is a badly managed company, run by an inept and incompetent board. Its desperately weak balance sheet is also public knowledge.

[tigerbythetail] 14/5/2024 19:38

Nobody lends money commercially without covenants (i.e. conditions). Nobody. Ever.
HUM make it sound like Coris Bank are the bank of mum and dad to them. Which they are not, of course.
IMO, just another HUM evasion / deception, of which there have been very many over the years.

[sword77] 14/5/2024 19:21

But yes, an additional capital raise, would not surprise me.
On the other hand, the contractor breach and how to tackle it was for sure discussed with the bank and the majority shareholder before the last capital raise.

[sword77] 14/5/2024 19:17

@Tbtt listen to the latest call, there was question regarding covenants. They said there are none, nothing to breach.

[tigerbythetail] 14/5/2024 16:16

It's bonkers to be invested here until the company 'fess up about their financial situation and Kouroussa - it's like gambling in a casino when you don't know the odds against you.
Remember, HUM are almost certainly in breach of their loan covenants to Coris Bank right now. There are reasonable scenarios here in which PIs lose their entire investment.
10p strikes me as a very good price at which to sell these shares and then to wait and see how things turn out...