Hummingbird Resources Share Discussion Threads

[infinity888] 01/11/2024 22:44

Temujin

100% agree - interesting to read about October numbers too. I assume we see a RNS including Finance, Q3 and Q4 upto date number. Maybe even Commercial Production announcement this week coming

As you nicely, maybe the turning point we all wait since 1 year for

[temujiin] 01/11/2024 22:25

RNS 24 Sep 2024 the Group had net debt of
Total $153.5m

Todays RNS
end of Q3-2024, Hummingbird held a net bank debt of approximately US$135 million ....in addition, the Company has approximately US$20 million of unsecured debt
Total US$155m

So HUM have essentially become commercially break evens during Q3, which is the rainy season.

This is both a positive and a negative, negative because POG is so high we should have been canning the debt by now, but positive that despite their gold hedge and the rainy season, HUM have stabilised their financial incontinence .

Also given Coris and HUM have 'an agreement on the wider restructuring being concluded on or before 6 November 2024', then imo, HUM have 'probably' reached a turning point. It could finally be the right time to buy.

[infinity888] 01/11/2024 20:42

Management has a normal salary based on asset size of company.
On nasdaq they would earn even more

So just be clear ... you guys not accept facts and try to talk reality away.
Next week will confirm this and whoever not set there position upfront will miss out first 30% gain. I am looking forward to later 2025 where divi payments should be announced

[tigerbythetail] 01/11/2024 15:52

You're welcome to lose your money any way you like, Infinity. That's freedom for you.
But you deliberately spread lies and pretend to have access to inside information (e.g. your claims commercial production has been reached earlier this week). Both are shameful.
I don't think you're a paid account supporting HUM. I just think you're a reckless idiot well out over his skis who is trying to sucker other investors into this very likely worthless stock.
Not pretty, is it?

[infinity888] 01/11/2024 15:31

Disagree - its clear stated that 30 of the 45M will move and obviously based on dates connected to the sale of Pasofino.

Also we pay the 20M$ off end of the year which bring us under 100M$. As well we will be at Commercial production in Q4-24

This share has a 500% upside

[tigerbythetail] 01/11/2024 15:14

Amazingly, I disagree with Infinity!
Today's RNS is a clear warning that HUM's shares are probably worthless.
Coris will sell off HUM's assets in a fire-sale to recover their loan (or as much of it as possible), just as any bank would do. It's unlikely there'll be any money left over for equity.
It's quite an achievement for a gold miner to implode when gold prices are at a record high. But our Dan has managed it - he's a talented guy!
I don't think the market has really woken up to how awful HUM's business situation now is. A 50% fall today would have been justified.

[infinity888] 01/11/2024 15:06

People dont put the correct dots together . All will miss next weeks mega RNS

[borderterrier1] 01/11/2024 14:58

Infinity888 I can assure you there ABSOLUTELY IS an ongoing investigation. And of course, as you say, it's a good update. That's why the share price has gone down.

[infinity888] 01/11/2024 14:37

There is zero investigation ongoing. Just a good update

[borderterrier1] 01/11/2024 14:01

Infinity888 quote:- "They needed to announce this due to regulation of FCA." Correct. Now there is an ongoing investigation, for all our sakes, let's hope they did?

[farrugia] 01/11/2024 12:18

i'm not fretting - have no position here

[infinity888] 01/11/2024 10:13

Also it’s important to understand that on the 31.10 the original 45m$ was scheduled to be paid. 30M left to pay what the pasofino sale will provide. They needed to announce this due to regulation of FCA.

Personal say it’s positive as its a way forward to below 100M debt by end of 2024

[grannyboy] 01/11/2024 09:41

Farrugia, you need to pull yourself together and stop fretting...

[1knocker] 01/11/2024 09:38

I would not hold your breath for any clear statement. Experience tells me that everyone will have to try to read between the lines, and no one will be much the wiser as to what the hell is going on.

[farrugia] 01/11/2024 09:24

the only positive thing about this announcement is that its not curtains yet.

[infinity888] 01/11/2024 08:26

what for excuses?

We know that 45M is due to pay

FACT IS: YE23 we had 153M$ debt with Coris which is down to 135M$ now.
We paid in October 15M from 45M already and connect the money with the sale of Pasofino to pay the rest.

Also as we were able to pay 15M$ off and got only 10M in September means that we make profits.

Be mindful that with increase of Production capacity also working capital need to be increased. So all is fine

[infinity888] 01/11/2024 08:02

no we get 35M$ cash from Pasofino and announcement is 7th of November - READ THE RNS.
they connected the 30M payback with the Pasofina payment terms. That's all what it is

[sleveen] 01/11/2024 07:55

HUN are unable to pay $30m in debt due yesterday.

HUM made a huge operational loss (commerciality not yet declared).

WTF is good about that?

[infinity888] 01/11/2024 07:43

The statement is good. Its shows a positive inside:

we got a loan +20$M comitment from CIG in Q3. We paid off already components of Coris laon what is 45M$ in October. As 30M$ what is exact the number we get from Pasofino deal will be moved to a later stage means we go 45M$ debt down we owe to Coris. Thats good! Also show that we made ebidta in Q3. Also clear statet is another 20M to be paid by end of 2024. It looks like thet debt will go below 100M$ end of 2024

I assume they give us a major update on the 7th/8th of November
1. Q3 results
2. Q4 upto date
3. Q4 outlook
4. Pasofino sale and use of money
5. Pay off schedule for Q4-24 / Q1-25
6. Commercial Production
7. Ongoing engagement for Hummingbird sale as stated by CEO on the meeting back end of September

[backmarker] 01/11/2024 07:41

Overall it sounds positive. It suggests that there will be no additional fundraising.I would suspect that more of the debt will be secured against assets and/or production, and that this is where the previously mentioned gold loans may play a part.It also appears that net debt has reduced over Q3, implying that the group is now profitable even if Kouroussa still not at commercial production. And despite Q3 being the rainy quarter.One might hope that we are at last seeing the light at the end of the tunnel and not the proverbial gorilla with a flashlight.

[darrenhorsfield2] 01/11/2024 07:41

They still have 135 plus the 30 so 155 and need more

[sleveen] 01/11/2024 07:41

Plasbryn

That's because there was a huge operation loss in Q3.