Hummingbird Resources Share Discussion Threads

[randompath] 02/12/2018 11:41

Excellent December presentation on HUM's website. This stock is now looking very interesting again (with one big caveat being that they secure the overdraft from Coris next week which I think will be the catalyst for buying).

Positives include:
1) Mali drilling update due soon - the under-explored Gonka zone could bring unexpected upside at depth and/or along strike;
2) Pit wall remedial works due for completion January, only affecting upper oxidised zones, with lower pit walls not impacted;
3) The perpetual flapper BT has capitulated and claims to have sold (a sure sign of a stock price bottom ;) );
4) Fed has signalled interest rate rises may be coming to an end soon, boosting outlook for gold prices;
5) Could we see President Weah finally sign the MDA, opening up opportunities to partner with a mid-tier and realise value from Liberia?

HUM have had a horrible Q2 & Q3 but things are, at last, looking up.

[borderterrier1] 01/12/2018 22:03

1toasty EXACTLY my opinion. Keep on promoting this to others, but sell a chunk of your own shares?

[borderterrier1] 01/12/2018 13:29

For those interested. Report on the OTC market seeking alpha re. HUMRF this morning. Please type in:-

Hummingbird resourses, is this company cursed? To read the full article.

[plasybryn] 01/12/2018 06:30

I suspect 2019 will be a much better year for HUM and those that are under water will start to recover. It's strange how people are so much more pleasant when the share price is going up. Nothing to be gained by all this backbiting.https://www.bloomberg.com/news/articles/2018-11-30/as-fed-rethinks-path-for-rates-gold-s-poised-to-rally-in-2019?srnd=premium-europe

[borderterrier1] 01/12/2018 01:28

Frank "Sucker" Campbell Shoot ME down? Really? Read some of the posts by your one time followers, Pied Piper. Nobody believes anything you say. Nobody will invest here. Incompetent Ceo, Bod and PR mouthpiece. BTW where did the cash go? Now they need a loan, possible placing? Great co!!!! Don't forget that since the completion of the mine this has gone S. Why do you think it will recover?

And BTW, quote:- "I never said the share price will be X ...X? You said it on your last post before this one 15p-16p
What an absolute laughing stock, idiotic buffoon!!! Run away mouthpiece and suck up to your blue -eyed boy DB the useless Ceo. 500,000 salary for such a pitiful performance as this? Pathetic!!!

[borderterrier1] 01/12/2018 00:01

Fsj AKA SUCKER Campbell. So what do you do when this drops further? Sell again and buy at 10p? You are lying as always. Don't take my word for it, read the posts from the long time supporters. You can post what you like, it's always wrong. "60p by Christmas" remember? Why would anyone believe you or invest here? This is going under. 10 p by Christmas.

[fsjamescampbell] 30/11/2018 23:53

No BT - As ever you are twisting and making up your own perspective.......i said that the very day we got the rns about the bridge "incident" i was on LSE, saw the RNS, read the first line and sold 155k shares at 25.8p - having been in many many shares over the years and knowing how AIM works, it was a case of salvaging cash for the inevitable drop that ensued. It was at 25.8p and not 24p.......since that derisking exercise i haven't once posted anything about holding or buying shares.....in fact, my view always was that if the update wasn't great this could drop to around 15 - 16p......it surprisingly held up very well after the update.

In future, read what i am posting, the amount you get wrong is beyond belief.......

[borderterrier1] 30/11/2018 23:19

Fsj. Of course you did and I intend to do the same. My OTC shares went up 16% three days ago so I sold, I will buy them back when the price drops to 10p after Christmas. But I find it strange that you sold at 24p when at the same time you were telling investors on here to hold because "this will be 60 p by Christmas" Are you saying that 2 months ago you expected this to go down? Strange you didn't say that on here did you? What a lying, two faced trick! Good job I don't believe a word you say. But I guess that's why the Bod are all filling their boots now? Except, guess what, none of them are. In fact nobody is. Look at the 10 year chart. Looks like a familiar pattern doesn't it?

[fsjamescampbell] 30/11/2018 21:11

BT - Give it a rest you are a complete halfwit! Now we have an update we can find our base level and hopefully see green shoots of recovery, i was fortunate to sell a huge lump 3 minutes after the incident rns landed back in october so i have a nice lump of cash to buy some cheaper shares....45k sold at 25.8p gives me a lot of leverage to buy back the 155k shares i sold for about 40k same shares should cost around 23k. Fortunately it took the mm's about 15 minutes to start collapsing the share price on that day.....17k saved for same amount of shares.

[randompath] 30/11/2018 15:19

Another example of stupidity would be for someone to obsessively post negative comments on website forums (now ADVFN, previously LSE), with almost daily frequency, about a stock they say is going lower but continue to hold.

[borderterrier1] 30/11/2018 14:20

Stupid comments from some on the LSE bb this morning example:- "it will be good to see
everything back on track and positive sentiment return in Q1 2019" Positive sentiment?
You are joking right? The "positive sentiment" over the last year doesn't exist hence the share price BTW, Fsj, does the middle initial stand for "Sucker"?

[new_buyer] 30/11/2018 09:43

Cost of remedial work is "a number of circa. $5m was given for total cost of remediation and bridge based on up to 1m BCM’s being moved." Bert's words not mine.

[sandoval] 29/11/2018 19:39

Not trying to put him down but when you mentioned him with regard to accountant it reminded me. I'm sure alot of people high up the food chain unintentionally mix with a few del boys :)

[borderterrier1] 29/11/2018 17:40

Sandoval. And didn't he also go to college with someone on the Bod at BH? Just asking.

[sandoval] 29/11/2018 17:36

Sure I read somewhere that old Betts had a tax avoidance scheme with a few well known names involved in it. Think it was to do with arts or films or something like that.

[borderterrier1] 29/11/2018 17:28

new_buyer Don't believe me, please read the other posts from disgruntled SH's including bookwormroberts above. Something is very, very wrong with this. Where has all the cash gone? My thoughts are that at some time there will be an enquiry into expenditure/cash flow/accounts etc. So, here's an innocent question. Wasn't the old Betts listed as the co. accountant at one time? This is a complete and utter train wreck. I can wait, but not for much longer.

[avsome1968] 29/11/2018 17:20

Glad I sold and moved on poor showing by management more dept inevitable placing coming will watch on the sidelines safe they can turn it round, But for the guys that want a good dept free company with a great management team to claw some of there money back AMER directors recently filled there boots great farm out deal thank me later

[bo doodak] 29/11/2018 17:00

Casual,

The decision taken to steepen the pit walls may well have been unwise give SB stated heavier than usual rains occur every 5-10 years.

SB did not give me the sense that precautionary KW remediation works were not a distinct possibility, therefore I'm quite cautious for now on how this will play out.

[bookwormrobert] 29/11/2018 16:52

New-buyer! I am most definitely not "desperate to get back in" this share.
I'm very lucky I got out of this car-crash of an investment when I did. I'm just curious to see how the story ends. In particular, I want to know where all the money went, because the company's explanation is very incomplete and unconvincing. Hummingbird has gone from "net debt of $5m" in Q2 results RNS to needing emergency loans and overdraft facilities whilst still owing almost all of the original $60m Coris loan. How on earth is this possible? Because it isn't just due to a heavy rain season in Mali, that's for sure.

[casual47] 29/11/2018 16:45

Bo, thanks for the update anyway.

Production issues are part and parcel of mining, so I can live with that. But they really need to get the LOM sorted sooner than later because it looks like they won't be able to make quite as much profit over the next year or so as they thought.

Currently it's a bit like trying to mend the roof when the foundations are looking a bit wobbly.

[chipperfrd] 29/11/2018 16:43

Their new guidance for CY2018 is 87k - 92koz.
They have already produced (end of 3Q18) 74k
Hence worst case predicted production for 4Q18 would appear to be 12.9koz.

They have estimated an AISC for 4Q18 of US$1,800/oz which is c. $800/oz above the $1,006/oz AISC achieved in 3Q18.

So this would appear to infer additional sustaining Capex of c. US$10.3m for this quarter to cover the pit remediation and costs associated with bridge damage, et al.

They were clearly expecting an an appreciable uplift of production in 4Q before the rain damage because the change in guidance from 105koz to 87koz (ie -18koz) compared to 3Q of 22.2koz and the new estimate of 12.9koz, places their earlier expectation at c. 30koz.

Oh well, such is life in mining. All being well we should see things back on track (in terms of production and AISC) at the end of 1Q19.

Chip

[bo doodak] 29/11/2018 16:41

Sadly no, not even a whisper.