Hummingbird Resources Share Discussion Threads

[jimbowen30] 19/7/2018 10:23

re Dugbe "Constantly in dialogue with a number of parties" and ongoing

[zeberdie] 19/7/2018 10:22

Dan says he is committed, (he didnt like his commitment being questioned)

[zeberdie] 19/7/2018 10:21

Management buys. Dan not buying because he couldnt sell them without damaging share price he has bought all the way down.

[ukgeorge] 19/7/2018 10:21

Dan not buying any shares in the market..... no sh1t when you get options at 1p......

[edjge2] 19/7/2018 10:20

Taken quite a fall, hope its upwards from here update today encouraging, now a producer too with a gold price that is ready to bounce.

[zeberdie] 19/7/2018 10:19

Not needing Financing in the short term

[zeberdie] 19/7/2018 10:18

Not comiting to buyback at this stage.

[zeberdie] 19/7/2018 10:16

Cora, waiting drilling results. looking promising

[zeberdie] 19/7/2018 10:16

Asic 790 in line with forcast. Looking to sustain that number. Fuel price , $50oz .

[winning_analysis] 19/7/2018 10:14

Can we finally bring home the true value of this company. Extremely positive next Quarter.

[zeberdie] 19/7/2018 10:13

Head grade good in H1. H2 they expect grade to stay good..

[zeberdie] 19/7/2018 10:12

Bunker, would rather wait off before they had announced , the team needs to look at it, DD

[zeberdie] 19/7/2018 10:10

Costings inline for budget with crusher but ball mill will be more. But a better recovery from ball mill. he never answered about the cost.

[winning_analysis] 19/7/2018 10:09

This is just the start of things to come with introducing a possible 3rd crusher or 2nd mill!

[zeberdie] 19/7/2018 10:09

oxide ,harder ore coming later in the year.

[zeberdie] 19/7/2018 10:08

deciding on 2nd ball mill or 3rd crusher.

[zeberdie] 19/7/2018 10:07

Wet season managing ok. some heavy rain , taking care with ore being introduced. learning from some minor mistakes. But they seem happy.

[rileyma] 19/7/2018 10:05

Can u give us a bit of a running commentary
Plz?
Unable to participate
Thanks

[winning_analysis] 19/7/2018 10:01

They are saying that the result clearly show that we are now a commercial company.

[winning_analysis] 19/7/2018 10:00

Conference is a go!

[winning_analysis] 19/7/2018 09:54

HUMming to this audio track on the conference:

Hummingbird analyst and investor call today at 10:00am.

UK Toll Free: 0800 358 9473

UK Toll: [phone]

PIN: 64891530#

[chipperfrd] 19/7/2018 09:50

CC,

re update to my valuation table:

No, I need the financial report.

It may well be another month or so for the interim.

Chip

[jimbowen30] 19/7/2018 09:32

UK George - we are on a winner here long term, so short term moves are irrelevant to me. Recovery rates are fantastic too and I'm sure YF can produce more than 130k oz pa. Next up, let's increase those reserves at YF and wait for news on Dugbe. I'll be on the conference call at 10am.

[brucey6onus] 19/7/2018 09:23

Note from the their house broker this morning


Production beats on consistent run rate through 2Q18

Hummingbird Resources (HUM) today reported 2Q18 production of 33.1k oz, a solid 16% above CGe of 28.5k oz. Hummingbird also managed to sell an additional 5.5k oz with total gold sold for the quarter at 38.7k oz, over 30% above our forecast. Throughput was strong for the quarter with ore processed reported at 288kt, some 15% above our forecast of 250kt. Average head grade also came out to 3.43g/t, just 2% below our forecast of 3.5g/t. The mill grade at the end of 1Q18 was also around 3.4g/t, showing a sustainable higher feed grade to the plant over a four-month period. Guidance for the year remains at 105-115k oz vs CGe of 111k oz.

Recovery rates running consistently high at the process plant

Besides demonstrating a high throughput level and grade performance through the 2Q18 period, HUM also demonstrated that it can maintain a high level of plant output via consistently high recovery rates. The company reported 2Q18 recoveries of 95.2%after fairly consistently hitting the ~96 level throughout all of 1Q18. We have forecast recoveries only at the ~92% level for the 6-7 year LOM.

Costs already down at the sub-US$800/oz level

For the first full quarter of production, HUM has reported an all in sustainable cost (AISC)of US$790/oz, a significant 7% below our US$851/oz forecast for the whole of 1H18. The 2Q18 AISC is even below our full-year costs forecast of US$798/oz. With an average realised gold price of US$1,307/oz during the period, HUM has managed to deliver an over US$500/oz margin in the first quarter of full production. An impressive cost result leading the excess free cash in 1H18 beyond our forecasts.

Cash in bank comes in strong at US$46m

HUM also reported a cash balance of US$46m, over 20% above our forecast of US$37m at the half-year stage and up from just US$28m at the 1Q18 stage this year. With the company in FCF positive territory by early 2Q18 and debt repayments having already started in the May/June time frame, the company has managed to deliver sizeable cash balance gains. This leaves net debt at just US$15.6m at the half-year stage, below our US$18m forecast. All in, 2Q18 has proved to be a great first quarter of full production from both an operational and financial perspective.

[zeberdie] 19/7/2018 09:16

Rick, looks like a knocking bet they have already decided. Production sailing along and now time for a couple of Bolt ons. Im wondering what extra we will get 10 20 30%