Hummingbird Resources Share Discussion Threads

[redtrend] 28/5/2019 11:57

Laptop - cash situation is tight and they really need to hit their intended 2019 target to ensure they don't need additional loan and/or additional equity.

On past evidence, in the worst case scenario I believe they would be able to refinance with their lender, which they appear to have good relationship, rather than equity but who knows.

Because they have everything to prove and jury is out, the share price is at this low £50m market cap (which is fair considering the risk).

So high risk, high reward. They hit their targets this year, troubles with last Q3 2018 wet season is a thing of the past and the share price should soar. With ball mill up and running and 130K Oz+ for future years, in a gold bull market you could see this many multiples higher.

However if they struggle to meet 2019 production target, thereby struggle to pay loans + trade payables and need additional financing/ equity, we will stagnate further or decline.

Either way, the next 7 months are going to be incredibly interesting for HUM.

I'll lay my cards out and I err to the positive. I've bought a significant amount at the 14.5p region and believe at £50m market cap, even with the risks, the potential significant upside outweighs the downside risks.

[laptop15] 28/5/2019 11:38

What's going on here guys?? Why do low?? What's the cash situation here?

[ukgeorge] 28/5/2019 11:23

NB, moneyfornothing.

I am not holding any more I sold out and I am relieved to have done so.

The report promises a lot of jam tomorrow. However, I don't think sentiment will change until production and cost numbers start coming in to prove that targets can be met.

I'd rather buy at 20p after a couple of positive quarters.

[new_buyer] 28/5/2019 07:36

You will be in a small group there then!! Don't get sucked in by all his lies, obvious to spot and called out on every time but the man/woman/person has no shame.

[moneyfornothing1] 28/5/2019 07:35

New_buyer that would make some sense of his continually negative posts, even celebrating some of the negativity, but unlike yourself I would give him the benefit of the doubt that that's not true.

[new_buyer] 28/5/2019 07:32

Come on moneyfornothing1 surely you can see why? He doesn't own a single share, who would belittle a company that he owns shares in and who should want the share price to increase but does he utmost for the share price to fal. He is a paid deramper and at the look of it a successful one! Probably on a bonus.

[moneyfornothing1] 28/5/2019 07:29

borderterrier if you believe this will go bust why do you continue to hold?
UKGeorge
Any company where the directors take options at a 95% discount deserves to go bust.
borderterrier1
UKGeorge And this will

Last week you were confident this could turn around, why now do you post it will go bust?

[rickyhatton] 28/5/2019 06:32

"Both of these factors have meant the Company is currently updating its LoM plan. At present, this was last forecast as part of the DFS in 2016 and showed that the Yanfolila Gold Mine would average 107,000oz gold production per year.

The current draft LoM plan, awaiting finalisation, indicates that in the upcoming 3 years (2020-2022) the Company is able to achieve production of 130,000-145,000oz per year at a targeted AISC of US$800/oz. The Company is pleased to report that the early estimates from the LoM plan showed a significant improvement on production levels and lowering cost base of the mine.

From 2023 the average annual production from Reserves reduces to 80,000oz per year. The Company intends to announce the results of scoping studies on both the Gonka deposit, 5km from the process plant, and underground mining at Komana East (currently operating open pit). The studies will, when converted to Reserves following feasibility study completion, augment the existing Reserves to increase annual production and extend the mine life further. Based on current Resources over 1Moz gold sits outside of Reserves.

As a result of the weaker production levels and additional costs noted in the Q1 2019 Production Results and Operational Update announcement released on 16 April 2019 and the potential commencement of initial waste stripping at the Gonka deposit later this year, the Company confirms that the 2019 AISC is likely to exceed the targets previously announced of US$800-$850 per ounce

Looking forward to 2019, growth at Yanfolila is already within our sights. The 2018 exploration campaign has brought excellent drilling results across our 2.2Moz gold base; focused on infilling the currently defined resources, we are optimistic that this will allow us to increase our cumulative gold production over the mine life. Particularly strong results came from Gonka, a deposit located just 5km from the process plant, where mineral-rich intercepts included 15m @ 16.03 g/t and 18m @ 9.39 g/t. Such high-grade potential has made us even more confident in our long-term plans for the mine and the potential for underground developments."

[borderterrier1] 24/5/2019 18:40

UKGeorge And this will, after the Ceo and Bod have lined their pockets at the expense of the shareholders but others on here are too stupid to see that. If you all want a good laugh Golden Bulls recent posts on the LSE bb are absolutely priceless! I'm afraid the "power of suggestion" won't work with this SP! Yanfofailure!

[ukgeorge] 24/5/2019 15:21

Any company where the directors take options at a 95% discount deserves to go bust.

[borderterrier1] 24/5/2019 09:10

new-buyer. I didn't say I was looking forward to a drop to 5p, you did. But a further drop in the share price with this management and Ceo is unfortunately inevitable. Didn't Betts senior launch this in 2005? Hasn't the share price deteriorated steadily ever since? IYO is that the result of bad management decisions or bad luck? It shouldn't be too difficult for you to figure it out.

[ukgeorge] 24/5/2019 08:50

It does look like it is about to have another drop.

[borderterrier1] 23/5/2019 18:13

sandoval Trust fund or his Ceo's salary. I would have done a better job for half the money. Let's face it, I couldn't have done any worse....... could I?

[borderterrier1] 23/5/2019 15:32

new_buyer. I will top up when this drops to 5p. Won't be long now.

[new_buyer] 23/5/2019 12:13

sandoval you are not looking for a conspiracy and excuses, some are!!

[sandoval] 23/5/2019 09:56

I don't see any signs of family involvement. Apparently DB has 2 brothers and 2 sisters. I guess they are living off a trust fund.

[borderterrier1] 22/5/2019 14:58

I e mailed them several times but of course they only tell you what they want you to believe. Can't expect them to come clean and say they are making mistakes can you? Obviously I don't like losing money but I am still hoping this may come right. I still believe the mine is a good asset, but there are obvious glaring problems with the Ceo and management. But sometimes digging deep to uncover problems is difficult and that's what happened here. In other words, some research can't be uncovered on the Internet and by the time I found some things out, the share price was well on the way down. All the time that happened, Fsj propped it up confidently with glowing reports/excuses, after all, he was "in the know". It was all complete and utter B/S.

[moneyfornothing1] 22/5/2019 14:49

So with this further research you still stay invested? You must have a stronger constitution than I have.

I think many co's launched in AIM, or even FTSE, often drop after an initial climb, it's not uncommon and the reason I stay away from IPO's.

Why ask this Fsj why not contact the company and ask them direct?

[borderterrier1] 22/5/2019 12:57

moneyfornothing1 Some of the original, early news items about DB gave him a confidence boosting description, "Family involved in the gold and bullion business since 1780" or words to that effect. Unfortunately, more research revealed that when this co. was established in 2005, the share price deteriorated rapidly and through subsequent research, I now know some of the early investors that lost money back then. So, who's fault was that? The family may be long time bullion dealers, but do they have the necessary mining skills or indeed ANY experience with actual gold mining? I think not, but perhaps someone knows? I did ask company mouthpiece Fsj but never got a reply to that question. And another of my concerns is that despite those heavy losses, I believe at that time Betts senior was the financial accounts auditor........ and still is.

[moneyfornothing1] 22/5/2019 09:56

Either he needs to go or maybe he has learnt from his mistakes and might be worth sticking with? Only problem is only time will tell and by then it could be too late.

I certainly will not invest in a company, or stay invested, if I was not fully in support of the CEO.

[borderterrier1] 21/5/2019 16:08

When I first looked at this I did. But I now believe that a lot of it was hype by the broker, the glowing news reports, items etc........(similar to the one today, 20th May in Value the Markets by Stuart Langelaan) and one of the first red flags for me was when the Hum broker was successfully prosecuted by the FBI for pump and dump schemes. Can any of us really believe this stuff anymore? My gut feeling there was the right one. This could still recover but the Ceo needs to realize he isn't experienced enough to make irrational decisions with SH money.

[moneyfornothing1] 21/5/2019 15:36

SP can do that sometimes without any reason but if the fundamentals are good there will be hope. As you said earlier you live in hope so I assume you believe the fundamentals to be sound also?

[borderterrier1] 21/5/2019 15:32

moneyfornothing1 And yet, if you DYO research, the share price was steadily deteriorating BEFORE the rain/artisan/shooting incidents. Why ???

[moneyfornothing1] 21/5/2019 15:15

I can see the mistakes you talk about (BH, 1p options) but personally I see a number also outside of the control of the management (rain/artisans/shooting) and together I believe is reason for the share price but I also feel a single mine with a (current) short LOM is not helping.

I don't agree with you on the ball mill though as I think it would be incredibly short sighted of them not to be planning for a successful future WHILST recent issues, hopefully, are brought under control. I might take a position but probably after the Q2 figures are issued.

Dugbe looks to me to be a red herring at the moment.