Hummingbird Resources Share Discussion Threads

[fsawatcher] 20/3/2018 08:54

hum of mine only 6 year or 7 innit so mali tax issue not issue for hum coz they covered

market not price hum right on 7 year so price not infected

hum move mine life to 12 year then it only 5 year at higher tax but market go bananas and make hum 100p a share if they get mine to 12 year coz that mega bega news innit

hum jus sellin off coz isa bummers dryin pants in tumble drya until ap 6th innit

yous knows whos yous are

i know you sellin and buyin back on 6th i am the all seein eye i am the market

[qs99] 20/3/2018 08:26

What's the news on the Mali mining laws then? Anyone checked in with HUM on this?

[darola] 20/3/2018 08:15

Lack of patience. Story hasn't changed it just gets confirmed more and more everyday, and HUM remains undervalued. if it stays below 40 I'm adding another £20k in my ISA April 6th.

[squash90] 20/3/2018 08:02

Not good drip drip down ?? Any views

[gersemi] 20/3/2018 06:14

Mali-an politics is affecting this stock. Rumblings about the change in laws surrounding mining in MALI does this great company no favours at all. I am sure once the usual idiotic politicking is over and a new mining law is passed then the stock can move forward without the uncertainty of this hanging over it

[clint2010] 20/3/2018 06:06

The Troy Ounce is part of a larger measurement system for precious metals that is known as Troy weights. A regular Ounce is comprised of 28.35 grams. A Troy Ounce, however, is comprised of 31.1034807 grams.

[daz] 19/3/2018 23:11

Chip,

Excuse my ignorance but why do you divide 31.1 to convert grams to ounces in your calculations above? When I search for the conversion rate it's usually multiply grams by 0.035279
Just trying to understand the production figures.

As you say, they are improving

[chipperfrd] 19/3/2018 22:27

Looks like a "ramp-up" to me!

Dec = 55,699 x 2.02 x 95.9% /31.1 = 3,469 ozJan = 72,346 x 2.34 x 95.8% /31.1 = 5,214 ozFeb = 86,592 x 3.35 x 96.5% /31.1 = 9,000 oz



Steady improvements month by month.

Well done HUM :-)
Chip

[casual47] 19/3/2018 16:31

The shareprice reaction doesn't tell any story. In fact, HUM has been holding up better than some goldies who had NO news today....

It is across the board - goldies getting hammered all over.

[sleveen] 19/3/2018 16:27

UKG

snap (almost)

[sleveen] 19/3/2018 16:23

"the amount of high grade ore fed into the mill blend has been steadily increased and the plant is now running close to name-plate capacity with recoveries remaining consistently above design; higher-grade ore continues to be increasingly introduced to the plant."

I'll assume that the 4846oz in circuit will always be in circuit,because as the gold is taken from one end it will be replaced by the mill feed at the other end; fair and reasonable?

So before the first gold could be poured the circuit had to be loaded with gold before the pour on 19/12/2017.

Thus from 19/12/17, only approx 12k oz have been produced despite today's RNS stating " now running close to name-plate capacity with recoveries remaining consistently above design;"


Let's hope they get to the 7g/t ore soon.

[mother o malley] 19/3/2018 16:11

Yes indeed.

Only have to read back UKGeorge's posts to conclude his agenda.

[qs99] 19/3/2018 15:42

indeed redtrend...

[redtrend] 19/3/2018 15:36

It does, that's what "average" means!

[sleveen] 19/3/2018 15:02

"In the first 14 days of March, the plant operated at an average of 95% of design throughput and has consistently achieved a gold recovery rate of approximately 96%, which is in excess of design specification."


95 % of design throughput doesn't mean that the 95% is being met 24 hours a day every day. It might only have been reached for say 1 hour at 95% on Friday for the RNS to be accurate.

[wassapper] 19/3/2018 14:54

UKGeorge - I still think you are being disingenuous. I agree they are all over the place with figures and terminology - someone can contact the company and NOMAD and tell them to get their act together. Feb RNS says production started 7 Dec, and this one says 9 Dec; small things but consistency is all.

The key point is the figures show a steadily improving picture which is what you expect at ramp up.

The most important part of a ramp up is what is happening NOW which is stated quite explicitly as

"In the first 14 days of March, the plant operated at an average of 95% of design throughput and has consistently achieved a gold recovery rate of approximately 96%, which is in excess of design specification."

To me this says they are on target to reach commercial production very soon, and that is when the 10,000 oz pm for year one kicks in. The past production is barely relevant.

[ukgeorge] 19/3/2018 14:00

Yes and the total of 12koz in 3 months is telling us that we are some way of producing 11koz a month. As is the 6koz in the last month.

[zeberdie] 19/3/2018 12:51

In the first 14 days of March, the plant operated at an average of 95% of design throughput and has consistently achieved a gold recovery rate of approximately 96%, which is in excess of design specification.
George this is telling us that at 3.35gt they ow running at full commercial rate.
Everything before this was ramp up.

[ukgeorge] 19/3/2018 12:34

Hi Sleveen, I think we are on the same page, I am saying total revenue is $15.6M total costs likely around $24M or so. Giving circa negative cash flow of $8M, I had rounded to $10M.

[sleveen] 19/3/2018 12:29

UKG

"The company has likely used about $10M of the $30M cash pile they had. My calculation is below.
This is assuming monthly costs are in the region of $8M (this is from using AISC $750 x 11koz production (steady state costs). While revenue from 12koz (production to date) at $1300 is $15.6M."


Prior to declaring commerciallity, the current costs of production are likely to be equal to the revenue received. Not the AISC.

So the cash consumed is substantially more than the $10m you state.

[qs99] 19/3/2018 12:18

It's on budget and on-time, as it ramps up production, efficiencies should in theory start coming through as well. They need clearer RNSs I agree with some of the posts above, but this is all heading in the right direction IMO it would appear from the RNSs released to date. DYOR but getting some hard cash and EBITDA numbers around production over the next 2-3 months will help sentiment and therefore valuation....DYOR

[lasata] 19/3/2018 12:14

Think it is the analysts visit this week...........will be interesting to see their "take" on production progress. That RNS was bit confusing but looks on target for 10k production per month I would have thought.