Hummingbird Resources Share Discussion Threads

[borderterrier1] 01/5/2019 23:33

Fsj. That's complete and utter B/S and you are a liar for suggesting that's what you would have done. The market runs on fear and greed. You would not have sold at 39p because, like most, at that time, you expected this to go higher. Most of us did. When it got to 39p lots of people were promoting this (mainly you) and most have now got their fingers burnt badly. Unless of course, you knew, somehow, that it was going South. Don't forget, not everybody is as "lucky" and "well informed" as you are.

[fsjamescampbell] 01/5/2019 23:14

It's a moot point......because knowing that 3 years ago i would buy in then sell at 39p then buy back at 16p again!

[borderterrier1] 01/5/2019 22:06

Fsj. If the ratio of buys to sell trades today are anything to go by, many share my opinion now. Here's an honest question for you and I would appreciate an honest answer. If someone had told you three years ago that:- "This is a worthwhile investment, great management and Ceo and then added "but in three years time the share price will be back down to where it started."

Would you:- 1. Think the guy was insane? 2. Still invest?

[fsjamescampbell] 01/5/2019 19:36

BT - another rambling moronic statement from the boards most prolific liar.......you literaly are that one defective sperm that got lucky and managed to hit the jackpot! You clueless uneducated bottom feeder.......

[andrewsr] 01/5/2019 18:40

The same goes for every mine, no company, except majors, would ever have all the cash needed for the capex. Hummingbird are in a better position than most, having an operating mine. As mentioned earlier they just need to get costs under control.

[casual47] 01/5/2019 18:31

"Dugbe has a NPV of $186m at $1300 gold, so worth developing at current prices."

What matters is the upfront capex needed to get there and how management will be able to raise this capex. NPV is completely meaningless if there is no feasible route to raise the capex. It will be tricky, probably take quite a bit of time and will require creative funding arrangements with hopefully limited dilution.

[laurence llewelyn binliner] 01/5/2019 17:28

A muted response to a positive Dugbe RNS, but the Yanfolila Ore grades are improving now, costs will come down as the remedial works tail off from the 2018-Q4/Q1 carry over AISC, milling volumes will start to increase in Q3, and will have a better understanding of the new lower costs in Q4 as volumes go up, it's a hold for me..!

[andrewsr] 01/5/2019 16:46

Dugbe has a NPV of $186m at $1300 gold, so worth developing at current prices.
Agreed, they need to sort out costs at Yanfolila.

[ukgeorge] 01/5/2019 15:59

Yes good news and if gold gets back to $1,500 it might be worth developing. For now it is not a game changer (unless it can be sold or JV) IMO.

Pretty much impossible to invest in HUM currently. It is too much of a gamble.

They either turn it around get production back to steady state and costs down or they will need to increase debt or do a capital raise. Management will only invest at 1p that clearly shows the confidence or lack of that they have in the company.

[new_buyer] 01/5/2019 15:48

BT no clue, you have absolutely no clue whatsoever. I’ll now leave this board to you as you are beyond help.

[chipperfrd] 01/5/2019 15:04

Good news on Dugbe at last.

Will take a few years and a large pre-production Capex to take it through development but a new project of this size is relatively rare in the gold space these days.

I look forward to reports on progress.

[ukgeorge] 01/5/2019 13:51

There is nothing to deramp.

[new_buyer] 01/5/2019 11:21

TBTT given up deramping on the LSE site so thought you’d do the same here?

[bookwormrobert] 01/5/2019 11:19

I've got to ask, 1SF, what paths, and to what destination?
Liberia is one of the world's most impoverished and corrupt countries.
Dugbe is a very high cost and difficult gold deposit - effectively worthless with the gold price as it is now (or anywhere near it).
The market has reacted with complete indifference to the announcement of the Dugbe MDA. I think quite rightly.
All that should matter for Hummingbird is operating Yanfolila effectively and generating some free cash flow - something that so far their greedy and incompetent management have completely failed to do. Surely, the real question here is can Hummingbird avoid having to raise new equity to strengthen the balance sheet ahead of the rain season?

[rickyhatton] 01/5/2019 10:15

Thanks 1SF.

[1smallfry] 01/5/2019 09:38

Liberia is about so much more than just gold , it opens up many paths

[1smallfry] 01/5/2019 09:33

Rickyhatton , Liberian assets are already held by hummingbird Liberia , a subsidiary of hum the 10% the Liberian government get is only in the subsidiary company. So yanfolila is already protected

[rickyhatton] 01/5/2019 08:27

It is postive news! Either for sale, joint venture, development etc of the 4.2m oz. Value enhancing.

One hybrid option is to set up a separate entity or subsidiary, something like how Cora was construed, to develop it, giving existing shareholders full rights in the new company/subsidiary? That protects yanfolilia etc

"with this agreement in place, can now look towards taking the next steps at Dugbe in the best interests of all stakeholders"

[hydrogen economy] 01/5/2019 07:58

Meanwhile,

RNS Number : 6525X Hummingbird Resources PLC 01 May 2019


1 May 2019

Hummingbird Resources plc Mineral Development Agreement with Government of Liberia


Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM), is pleased to announce an update on the 25-year Mineral Development Agreement ("MDA") with the Government of Liberia ("GoL") over a land package of approximately 2,000km2, which includes the Company's 4.2Moz Dugbe Gold Project ("Dugbe").

[wskill] 01/5/2019 07:50

Probably the reason that it took so long to agree with GOL the very small signature bonus not a bad thing.

[fsjamescampbell] 01/5/2019 07:49

Solid news today! MDA was a big piece of the jigsaw and opens up HUM to a JV with much bigger fish! LOM extension on tha back of this news in a few weeks would be excellent and hopefully mark the start of a revival!

[plasybryn] 01/5/2019 07:48

Wasn't expecting that now, but what is the potential. No value for this potentially massive asset in the Market Capital. We all need to get our heads around the implications.