Hummingbird Resources Share Discussion Threads

[bo doodak] 03/8/2018 13:46

March videoo with Crosby, quite a few valuable nugget of info in it.


I think we have to remember DB doesn't operate in isolation, he needs to have board backing for his decisions, which should give investors some comfort this is not a flight of fancy.

[borderterrier1] 03/8/2018 13:45

Fsj. Honestly, what do you think Bert will tell you? I have had some experience of a similar situation. Somebody has made some stupid decisions here and its doubtful now if this will ever recover, it certainly won't here in the US. I've already posted this:- Like I said many times when a share price performs well below valuation the use of spare cash to buy back shares is a legitimate use of money. The Bod didn't want to do that. Perhaps some the money went to better use, inflated salaries, spending on research/speculative drilling and irrational project expansion? we will never know.

[gold panda] 03/8/2018 13:30

UKGeorge, even if zinc is going down, Bunker still has a lot of promise. For example, I own some shares of Jupiter Mines and I hate manganese - most used in steel and price is way above historical average. But even if manganese were to drop by 50%, Jupiter would still be cheap at today's prices. Same goes for Hum - if you think gold is overvalued and is going down to $1,000 per oz, Hum would still be a bargain.

Gold going down could be a blessing in disguise for me - Continental and Equinox are still building their mines, Teranga has a hedge at $1336 and Hum is getting amazingly cheap so I can buy more. Also, Equinox is on the hunt for a buy, hope it's either Beadell or Hum

[borderterrier1] 03/8/2018 13:01

Fsj. I did try to tell you all a year ago but you wouldn't listen. Now most others are voicing the same opinion as me that somethings wrong. As I said in the past when a share price performs well below valuation, share buybacks are a legitimate use of spare cash.
But the Bod decided not to do that. Pure speculation on my part because we will never know but perhaps the money went to a better use? Inflated salaries, irrational spending and plant expansion?

[new_buyer] 03/8/2018 12:52

Borderterrier you said a few days ago that you/we had all been screwed so the question for you to detail what makes you think there are dark forces at work here so no generalisations, what makes you think that for over a year now this share price has been manipulated so how and why you feel that the management has not done enough to support the share price in your eyes? Have the management lied to you/us and on what?

[fsjamescampbell] 03/8/2018 12:45

Cheers Plasbryn, i think it is very clear that HUM are delivering everything they can fundamentally. Maybe they need to brush up on attitude to difficult questions publicly, im ok with that as we are all human and emotional beings. However, in some respects it is good to know that our CEO and team are passionate, do get offended, show emotion. It is new territory for all being a gold producer from not having any generated income to suddenly having generated around £35m in their first Q of production. Its certainly all to play for and i am sure that with the share price at 26p we will see a new wave of retail investors buying in. M&G who have recently acquired 10.1m shares are certainly at ease with all that is HUM!

[chrismisson555] 03/8/2018 12:44

Added another 20k, has gold reached a short-term bottom

[bookwormrobert] 03/8/2018 12:44

Frank - with all respect, you should be fearful about Bunker Hill.
Lead is highly toxic, this is the USA (not Peru), lawyers are hungry, and the permission to reopen the mine was granted by a scandalous Trump appointed public official (Scott Pruitt) who has since had to resign because of his corrupt practices.
No way this isn't going to court. And I just don't see how you win over a jury in a case like this. IMO, years of lawyers' fees and then no mine.

[chrismisson555] 03/8/2018 12:34

BH is not too dissimilar to Titan Mining who recently restarted an old Zinc mine, just smaller.

[ukgeorge] 03/8/2018 12:25

Well you are entitled to your opinion but, you are wrong.

[plasybryn] 03/8/2018 12:17

I exchanged an email with Bert Monroe yesterday. This is what he said, which may help to reassure some.?All I can say if business is going well and we are delivering everything we are promising so hope the tide will turn soon?.Buying opportunity?

[fsjamescampbell] 03/8/2018 12:08

Morning folks,

i have too been rocked to the core this week and decided to remain patient and strong and even add on the lows, i have been here before many times with investments and its very tough to hold on and even add but it has proven to be a very profitable tactic when you are invested in a fundamentally very strong company.

I think the recent displeasure at our CEO Dan Betts has been a little too harsh. Yes the recent CC didn't help and the answer about him buying stock didn't bode well with the private investors but all in all he has steered this ship in the absolute true north direction over the years and none more so than the last 18 months in securing funding, actively being part of the fund raise, managing and delivering the mine, plant and gold pour all on time and within a shrewd budget. Personally this is the sort of track record that i am keeping focused on about Dan and of course his team.

So what is actually at play here, the biggest factor is FEAR, reading opinions on here and then putting 2 + 2 together and making 5. To me it is simple......

1. Have the fundamentals changed for the worse? NO!

2. Are we struggling to make cash now we are fully operational? ABSOLUTELY NO!

3. Is the use of free cash being squandered or misused? NO BUT SOME ASSUMPTIONS ON RECENT "ARMS LENGTH" INVESTMENT HAS MUDDIED THE WATERS! MY VIEW IS SIMPLE, WE DON'T YET HAVE FULL DD FACTS ON BUNKER HILL TO BE FEARFUL AND IF HUM ARE PURSUING A DEAL THAT HAS POTENTIAL TO BRING PROFIT TO US AS SHAREHOLDERS THEN I AM UP FOR THAT, AS LONG AS THE RISKS ARE MANAGEABLE, AS SUCH, I AM HAPPY TO WAIT FOR AN UPDATE ON BUNKER HILL TO MAKE MY MIND UP, I DON'T SEE HOW IT CAN BE ANY OTHER WAY AT THE MOMENT!

4. Do we believe that HUM will deliver shareholder value? ABSOLUTELY YES!

Finally, i though i would try and get a response from the company so i managed to catch Bert on the phone. He is adamant that operationally absolutely nothing has changed, to me that suggests that we made our July quota of say 11koz to continue on track with projections.

They are very happy that M&G have been actively buying in and mopping up shares in the last couple of months and they now hold just under 3% with approx 10.1m shares. M&G are a strong entity to have on the share register and he mentioned the significance of this. Of course M&G was reported in "Morning Star" the other day so this is not new news.

Dan had the recent interview with Mining Journal and by the tone of the conversation i have a feeling that he will be doing other interviews shortly, hopefully we will see or hear them in the next few weeks.

I asked about any ii's selling and the impression i got was current ii's are holding strong and relaxed about gold price being soft at the moment and so on.

I wonder if we are in a transition from longer term retail holders to new retail holders. It is one hell of an opportunity to buy in at 26.2p, i am sure the dust will settle and we will see a new retail investor stream!

[gold panda] 03/8/2018 12:01

I disagree about the peak, the inventories are very low

hxxp://www.infomine.com/investment/warehouse-levels/zinc/all/

Meanwhile, inventory levels in Shanghai and LME warehouses have shown a drawdown. Inventories in the LME warehouses have fallen more than 45 percent since the start of 2017, while in the warehouses monitored by Shanghai Futures Exchange (SHFE), it is down by 63 percent since March due to the environmental clampdown. The Chinese government’s push for clean air has negatively affected the mining and smelting sector in the country.

hxxps://www.moneycontrol.com/news/business/markets/trade-dispute-may-weigh-on-zinc-but-bargain-buying-may-take-prices-higher-in-near-future-2776231.html

[rickyhatton] 03/8/2018 11:59

Mali elections



The political risk looks the primary share price issue, and gold price, but election seems to be settling down to a run off on August 12.
BH does really look to have quite a lot going for it (size, permitted, timescales, etc), need to trust DB at this stage. (though should have given out far more information about BH in the last rns)

[gold panda] 03/8/2018 11:55

Compare Bunker with Tinka who have 42.7 million tonnes at 6.0% Zn, 0.2% Pb,
17g/t Ag and 79g/t In INFERRED RESOURCES and are worth CAD 120mn at the moment. No infrastructure and in the middle of the mountains in Peru. All Bunker Hill needs to get is some momentum like Tinka ;)

[ukgeorge] 03/8/2018 11:48

gold panda, If I want to invest in zinc I will buy Griffin mining GFM, or glencore.

The zinc price has peaked and is going to decline for the next couple of years.

I think part of this fall can be attributed to the bunker hill folly.

I'm also worried that HUM will announce a takeover or JV or something similar and the way the shorters appeared makes me think that something has been leaked.

[plasybryn] 03/8/2018 11:37

I exchanged an email with Bert Monroe yesterday. This is what he said, which may help to reassure some."All I can say if business is going well and we are delivering everything we are promising so hope the tide will turn soon".Buying opportunity?

[dianecarberry] 03/8/2018 11:24

100k dump at 25.75p which is below the bid price.

[dianecarberry] 03/8/2018 11:08

So much for Prowlers "fantastic results" when the shares were 33p.

Down 25% since then

LOL

[ukgeorge] 03/8/2018 11:00

Hopefully this fall is just gold related and disheartened private investors. Gold does look pretty screwed at the moment and some commentators are suggesting a fall to $1,000 could take place. Physical demand has been pretty terrible this year and the dollar remains strong. So for now the momentum remains with the bears.

That all said this company looks to be making good profits. I just pray there is not some bad news being withheld from the market. Or a stupid deal with a lead zinc mine taking place.

[trustedinvestor] 03/8/2018 10:11

I agree - I just wish everyone has your thinking cap. I am going to top up my HUM shares today and see it grow when the market calms down.

[darola] 03/8/2018 10:07

Market is in a bit of a panic, driven by the USD/Yen stand off. As yen falls the dollar strengthens and gold falls. Bit of a snow ball effect as stops are taken out and insecurities kick in. I’m holding strong as nothing has fundamentally changed. Even at lower gold HUM is a money making machine. I just posted this on LSE.

If we were at a standing start talking about a company with a MC of $120m and free cash of $47m (and that’s at $1200 gold for 132koz and $790 AISC) we’d still say it was ridiculously cheap - and that’s not even considering we’ve got $50m in the bank - with debt very well covered.