Hummingbird Resources Share Discussion Threads

[plasybryn] 09/8/2019 15:49

Cora moving strongly

[borderterrier1] 09/8/2019 15:24

Strange how investors get carried away with what is, after all, a slight move North with the share price that was triggered by the POG, nothing more. Hopefully this won't stagnate again for 2 years?

[moneyfornothing1] 08/8/2019 10:53

AGG licenses not CORA

[andrewsr] 08/8/2019 10:43

We're nearly half way through the rainy season with 10,000 oz produced in July - so far, so good.

Darola,
Where does the 10k figure for artisanal workers on Cora licences come from, thanks? Their licences are scattered over quite a wide area, but Tekeledougou is probably the only one currently within haul distance for Hummingbird, maybe others to north yet to be fully explored.

[lasata] 08/8/2019 08:16

Update on the weather in Mali now would be useful

"The rainy season also has negative effects on Mali. The rains destroy the communication lines within the country: many roads become inaccessible for 2 or 3 months and, sometimes telephone lines become unpredictable"

[bittorrent] 07/8/2019 13:04

Gold approaching $1500 now.

[darola] 07/8/2019 11:47

One of the reasons HUM backed out with AGG is the number of artisanal miners on top of their resources. Circa 10k! That would have been a huge effort and political sh*t storm.

So irrespective of grades and options, I don’t think they’d touch it.

[fsjamescampbell] 07/8/2019 08:32

hxxps://youtu.be/JY1VNTk049c

Superb analysis of CORA and HUM mentioned!

[redtrend] 07/8/2019 07:53

I would agree. It should be noted:

a) Yanfolila itself has ample room to expand its Life of Mine - at least 5yrs, possibly more.

b) Cora has 2 main prospects: Tekeledougou and Sanankoro (they have others but these are most advanced)

- Tekeledougou is just round the corner from Yanfolila(5km or so) and has some high grades reported:
•56m @ 2.2 g/t Au
•17m @ 6.8 g/t Au
•1m @ 35.7 g/t Au

- Sanankoro is asset further away (80km or so). Depending on terrain and Capex versus Opex, it's weighing up whether Sanankoro is better as stand-alone mine or feed to Yanfolila. There are 2 very interesting zones with high grade intercepts already:

•8 m at 3 17 g/t Au from 69 m
•26 m at 2 60 g/t Au from 71 m
•24 m at 2 83 g/t Au from 56 m
•46 m at 4 48 g/t Au from 49 m
•17 m at 5 10 g/t Au from 37 m
•48 m at 1 91 g/t Au from 17 m
•13 m at 2 33 g/t Au from 43 m

c) Next door to Sanankoro you have AGG's Kobada 2.2m Oz resource. HUM were right to back out of the Kobada deal though - the grades are poor hovering at 1 g/t and very few high grade zones. However if Sanankoro was developed as stand-alone mine, to extend mine life one could acquire AGG and blend low-grade with high-grade Sanankoro ore.

Considering HUM were debating trucking Kobada ore, it's not out of the question Sanankoro ore could be trucked.



The last Cora presentation is pretty interesting to see how they've progressed.

hxxp://www.coragold.com/wp-content/uploads/2019/07/Cora-Gold-Corporate-Presentation-July-2019-final.pdf

[bittorrent] 07/8/2019 06:46

To me, a tie-up between HUM and CORA looks like a "no brainer" (hate that expression!) Hum has the plant up and running, Cora has the ore within trucking distance (80Km?) Unless Cora are going to invest in their own plant, which we know is not cheap and would need funds.

[borderterrier1] 06/8/2019 23:53

ToInfinity. Yes, fabulous news eh? HUMRF up almost 16% today on the NYSE or in real terms almost $25,000 in my portfolio! Fabulous indeed! Thank you Hum team....I always had faith in you!

[new_buyer] 06/8/2019 15:39

Interesting to see both HUM and CORA moving up, CORA more than HUM, but good to see. POG touching $1,470 and a good interview on VOX yesterday.

[casual47] 06/8/2019 13:43

The incentive plan was badly handled.

I don't object to having a portion of free shares as incentive for a company that is trying to preserve cash, and the 1p options effectively were free shares, but they should have been a much smaller part of a much more comprehensive incentive plan which also includes options at a significant premium and which are linked to the longer term performance of the company.

Options are often used by management to illustrate confidence in where they see the company shareprice in the next 2 to 3 years.

And for sure there should be a 3 year or so lock-in of all such incentives, especially the free/1p shares.

[borderterrier1] 06/8/2019 13:20

And yet you guys are STILL talking about me? I guess you miss me? Yippie ki yay!!!!

[charlieeee] 06/8/2019 10:58

The exercise price was 1p.

If the exercise price is 20p rather than 1p then the company gets an extra 19p per share in the till. At 1p the shares are virtually for free and therefore highly dilutive.

Nothing wrong with share options which align the interests of management and shareholders, but they need to be properly structured so that they are not seen as a sinecure.

Betts should let Monroe do the interviews. The latter is a far more convincing speaker and much closer to detail.

[moneyfornothing1] 06/8/2019 10:58

I've not been here long but it seems that BT is not as revered as he believes he is, I think I read in one of his posts that 99% of people on this board believe him but I'd suggest it is probably the other way round, very odd fellow.

[napoleon 14th] 06/8/2019 10:22

I filtered BT ages ago & am getting bored of the responses made to his worthless posts.

I kept mine on the basis that the flood was a freak event.
SP at an interesting level - 25p - & looking strong.

[new_buyer] 06/8/2019 10:17

It's stuck in the craw of a lot of people and I do understand it, but I would prefer a different way of rewarding those involved.

[toinifinity] 06/8/2019 09:46

The only negative about all this share price rise is Borderterrier is recovering his losses, the most undeserving shareholder in the history of mankind. For the rest of us its great to be recovering our losses. Operationally HUM seem to be back on track after a pit full of bad luck and for now the world seems to be as volatile/unstable as I can ever remember it, fuelling POG ever upwards. Gold the first and best hedge against the 'worst of times'

[redtrend] 06/8/2019 09:43

Just out of interest, why is a 1p option any different from a 20p option, for example, if the Qty of performance shares provided is exactly the same, irrespective of price?

The options are effectively a bonus linked to performance, rather than discounted options a director pays out of his own pocket.

A separate discussion is whether the Qty of shares offered is too generous and/ or the performance criteria too loose (i.e. is it based on meeting guidance or is it based on exceeding targets which should be basis of any performance bonus).

The best option particularly at this gold spot price is that HUM institute a share buy-back covering these share options and put them in Treasury. Then if any options are realised, they're issued from Treasury with no dilution.

[rickyhatton] 06/8/2019 09:09

Dan betts interview - worth a listen - upbeat generally - including about positively developing mine plan

" things are looking good .... we should see AISC dropping significantly (from $998) ... if we do 120koz with a free cash margin of $500/600 we are talking more like $70m of EBITDA"

[casual47] 06/8/2019 08:35

The only major concern left for me is mgmt: no more 1p options for a start. If they want to reward themselves options then do it at a realistic premium and lock in the shares for at least a few years.

Heavy rainfall and other such issues I'm happy to accept as part and parcel of mining.

[new_buyer] 06/8/2019 08:15

A good interview, seems like it has had a short term impact on the share price but will be interesting to see if that can be continued.

[andrewsr] 05/8/2019 20:58

10,000 oz in July as well.

[rickyhatton] 05/8/2019 19:50

Dan betts interview - worth a listen - upbeat generally - including about positively developing mine plan

" things are looking good .... we should see AISC dropping significantly (from $998) ... if we do 120koz with a free cash margin of $500/600 we are talking more like $70m of EBITDA"