Hummingbird Resources Share Discussion Threads

[rikivilla] 28/1/2016 14:05

Surely these look good value here. Pigeon1, are you still lurking, if so what do you think?

[goldendigger] 28/1/2016 13:34

Yes I might add here and my other gold holding if it stays at this price.

[goldendigger] 28/1/2016 13:31

Seems like there is more interest here over the last few days, a few good buys showing. Dont think we will see 10p with gold rising and news could be around the corner.

[kingivor] 28/1/2016 13:31

£12m Market Cap only - unbelievable really.
HUM quietly being bought including by me.

[pixi] 28/1/2016 11:33

%1120.30, -4.40.

[keya5000] 27/1/2016 21:46

If gold can sustain above $1150 this must be a conviction buy for 2016 at these current levels.

[pixi] 27/1/2016 11:57

Goldendigger, welcome to the board. When we get the nod on project funding, it is likely to boost the share price

[goldendigger] 27/1/2016 11:22

Not risking of waiting till 10p so joined the show.

[pixi] 22/1/2016 12:18

We are all waiting on project funding news.

[pixi] 22/1/2016 12:04

Are you short? The problem is that news can come out of the blue.

[pranchalee] 21/1/2016 17:33

why you not wait and buy the lot at under 10p

[pixi] 21/1/2016 12:03

Bought 25,680 at 11.9883p.

[charles clore] 20/1/2016 14:30

I have a lot of these but I am beginning to feel concerned about the delay in financing news. When Taurus come up with the project funding I will be doubling my stake here.

[pixi] 20/1/2016 13:47

Bought 10,000 at 12.3p

[defcon3] 19/1/2016 10:26

Ambrian note out with 45p target - taking into account Taurus delayshttp://www.proactiveinvestors.co.uk/columns/the-rfc-ambrian-metals-mining-and-oil-gas-overview/24035/in-the-news-with-rfc-ambrian-hummingbird-resources-24035.html

[pranchalee] 14/1/2016 13:53

Maybe so but am here if anybody wants to part with them

[charles clore] 14/1/2016 12:42

10p would be nice but I don't think there would be many available at that price. I know a bargain when I see it. Well imho here it is staring people in the face.

[pranchalee] 13/1/2016 22:13

would this stop messing around and get to 10p offer so i can climb aboard

[divmad] 13/1/2016 20:54

Charles Clore,

"insouciant" means a casual lack of concern. Now does paset21en mean that the CEO is rather too carefree for his liking about HUM's prospects, or supremely confident in a positive outcome, no matter what POG is thrown at him?

[keya5000] 12/1/2016 20:09

It is in beauforts top ten tips for 2016.

[loganair] 12/1/2016 19:45

Beaufort - Hummingbird Resources offers low cost near term gold production from the recently acquired Yanfolila project in Mali. Through a financing agreement with Taurus, it is fast tracking construction, whilst further optimising the project economics, with first gold expected by mid-2016. For 2016 (6 months worth of production), we expect it to produce 60koz at a cash cost of US$703/oz, and all - in sustaining (AISC) of US$773/oz. We believe Yanfolila offers near term value accretion for shareholders, with Dugbe, Liberia’s largest gold deposit, offering higher gold price optionality and production scalability.

The Company announced its maiden Ore Reserves at the Yanfolila Gold Project in December 2016. This represents a 20% increase from the in - pit Mineral Resource in the Optimisation Study. The Reserve Report is based on the Resources at the Komana East and West pits as these will be mined first (Phase 1). The Project has significant Resources at other nearby deposits including Guiren West, Gonka, Sanioumale East and Sanioumale West which will be mined at a later stage (Phase 2). The Company also gave an update to shareholders on the development of Yanfolila whilst it completes ongoing due diligence with Taurus Funds Management in advance of the full debt draw down.

Achieving a maiden Ore Reserve at Yanfolila is a significant milestone for the Company. With an increased gold grade of 3.03 g/t it confirms anfolila as a quality, high - grade, low cost project.

The company has increased the size of its processing plant to process up to 1.24Mtpa, as well as processing harder, fresh ore types. The ability to process greater volumes of fresh ore has allowed Hummingbird to expand and deepen the open pits of its maiden Ore Reserve, resulting in more recoverable gold. Together with a more flexible operating plan it also gives the company scope to further expand our Ore Reserves from our existing deposits. The 24% increase in throughput will also significantly enhance annual gold production.

Additionally, the plant has been designed with the ability to further increase capacity to 1.5Mtpa. With so many Indicated ounces outside the mine plan at nearby deposits and high - grade underground potential at Gonka, the Company believes there remains significant production upside at Yanfolila. As with any development company it is not without appropriate risk, but at the current valuation we see considerable upside. Speculative Buy (HS)

[illuminati1] 11/1/2016 07:26

Gold prices gained $34.4 last week, as safe-haven demand was boosted amid global stock market rout, Chinese economy + geopolitical tensions

[charles clore] 06/1/2016 21:17

paset2len - thanks for your opinion. The use of the word 'insouciant' indicates a lack of something. Not sure what you mean though. Would you elucidate please?

[paset2len] 06/1/2016 21:02

Shares are starting to look seriously undervalued now. That said, the success of
mining companies is largely predicated on the capacity of management.

I have met the CEO of Humminbird previously and what struck me is that he is not similar to any other CEO that I met. Not just that he was younger but perhaps slightly insouciant.

My colleague told me that there was an element of cronyism to his position, i.e. he had come to his position via family money. Not sure how true this is and it doesn't necessarily mean that he won't do a good job.

Also, at the current price, you would assume that the shares are worth a punt.

[kingivor] 06/1/2016 20:18

Cheers CC. Looking forward to reading the revised project economics and the npv8 which Dan Betts suggested would be released "early January" - so next week at latest you would think.
I like the fact that the BOD have a decent amount of skin in the game and are careful with shareholders equity.
If the gold price goes on a sustainable march North as the dollar weakens then this will be a very substantial business within 2-3 years.
Liquidity will be an issue as the free float is not great here.
I can see this being 20p, 30p in no time if an ii starts to add in the market.
This is so undervalued that there is almost no risk and I expect Taurus to complete their due diligence and green light the development debt facility very soon now.