Hummingbird Resources Share Discussion Threads

[borderterrier1] 21/8/2019 15:03

At last!!! An potential investor, (jbravo2) that knows what he's talking about! And Fsj, at your meeting with Bert what do you think he will tell you? More glowing reports about how swimmingly everything is going? Come on. Wake up.

[jbravo2] 21/8/2019 08:37

@fsj
Serious statement and associated question. I realise this has been a contentious issue on this board (quite rightly) but I'd like him to address this.
This stopped me investing in the company a while ago.
I'd be interested in his answer.


Issuing options at 1 penny shows a lack of understanding of, and alignment with, shareholders interests. Shareholders gain when the price goes up. (No dividends here yet). Options priced at 1p are 1000's of % in the money even with the poor performance shown over the last couple of years.
Does the board regret issuing options at 1 penny?

[fsjamescampbell] 21/8/2019 08:10

I will make a note of those :)

[rickyhatton] 20/8/2019 14:04

In the mining haven podcast interview with DB on 14 August DB talks about thecplan for 130k+ oz in 2020 and then says "to be conservative let's just say 125k 0z at $850 AISC" And being debt free early in 2021. Generating nearly $90m of EBITDA in 2020 and debt being just $20m by year end 2020. Sees AISC going down "significantly"

Also marked change of gear in mining plan about accelerating targeting higher grade underground deposits as they are thus far judged overall no more expensive to mine.

No doubt he sees rapid improvement ... but knows that it still has to be delivered. But DB cautiously but confidently upbeat about the forthcoming performance.

[borderterrier1] 20/8/2019 13:44

Three questions from me:-

1. When is the share price going to move N?
2. Is the installation of third ballmill "on time and on budget"?
3. Does Golden Bull drink too much?

[oohrogerpalmer] 20/8/2019 13:30

How's the new wall holding up & is production on schedule during this rainy season?

[toinifinity] 20/8/2019 13:11

If they were approached by a buyer - would the board have a price in mind at which they would recommend accepting the offer? and how's the weather been in Mali?

[new_buyer] 20/8/2019 12:51

How are the hippos getting on?

[fsjamescampbell] 20/8/2019 12:18

:) will pop on the list

[goodgrief] 20/8/2019 12:12

When they doing another ProActiveInvestors evening in London?

[fsjamescampbell] 20/8/2019 12:02

Meeting Bert from HUM in Manchester next week for a Chinese with some other investors....general chat and so on and a bit of a Q & A. Anyone got any questions they want asking / answering.

[e-mail]

[rickyhatton] 20/8/2019 10:27

In the mining haven podcast interview with DB on 14 August DB talks about thecplan for 130k+ oz in 2020 and then says "to be conservative let's just say 125k 0z at $850 AISC" And being debt free early in 2021. Generating nearly $90m of EBITDA in 2020 and debt being just $20m by year end 2020. Sees AISC going down "significantly"

Also marked change of gear in mining plan about accelerating targeting higher grade underground deposits as they are thus far judged overall no more expensive to mine.

No doubt he sees rapid improvement ... but knows that it still has to be delivered. But DB cautiously but confidently upbeat about the forthcoming performance.

[laurence llewelyn binliner] 16/8/2019 08:26

Last years pitwall collapse was a painful learning exercise for DB/HUM, then floods, losing the bridge, having to hire a barge to get equipment in.., I'm sure the BOD were humbled some by these events.., so cautiously optimistic going forward, a sensible approach..

Fact is we are making some profits, H1 gave us 998/1306 AISC/Sales price and a USD308/Oz margin, out of which we made debt reduction of USD5M in Q1, and another 5M in Q2, now we have stepped that up to 2M a month from July.

With 1500 POG, and a falling AISC to say 900 for Q3, our margin is double H1.., and I'm hoping for nearer 800 costs for Q4 as the milling goes up with the new grinder.

Net cash positive in 2020.. :o)

[bo doodak] 16/8/2019 01:12

In saying that, I still wouldn't be here if, on balance, the risks outweighed the rewards.

[bo doodak] 16/8/2019 01:10

Trust hard won is easily lost, but is something most company managements don't seem to pay enough attention to sadly.

[casual47] 16/8/2019 00:39

I thought he came across well. Perhaps some may prefer the car salesman type but I was rather reassured by his straightforward no-bullsh1t approach which doesn't seek to minimise the issues. A "smoothy" CEO is probably more appropriate prior to production (Chaarat's Artem Volynets is a great example of this and an excellent choice for the stage they are in, imo).

While there is a lot of science in mining it is not completely predictable and all the modelling and mine plans in the world cannot prevent geological surprises, nor extreme weather. See for example Centamin 2018.

(That said, I am still not completely over the whole Bunker Hill thing and the other unnecessary missteps from last year)

[bo doodak] 16/8/2019 00:09

DB as usual doesn't inspire confidence with his manner and his judicious choice of words he to describes the how and why of the move to underground mining leaves open the possibility that open pit problems, whilst perhaps solved at present are liable to re-occur. Or maybe I am just too cynical.

[borderterrier1] 15/8/2019 21:48

Posters/investors on here should read the two recent posts from Ctw2014 and Willowman of the LSE bb. It's been going on for a long time, those in the know lining their pockets at the expense of others. Sea of blue and the share price goes down? I wonder who the crooks are?

[casual47] 15/8/2019 15:44

Based on how other shares have moved it will be the maiden dividend that will see a rerating of the stock.

Once this is divi paying the shareprice could be north of 85p...imo etc.

[laurence llewelyn binliner] 15/8/2019 14:48

#casual47, I can wait until we are net cash positive, and with current debt repayment rates USD2M/month in July, could be USD3M/month from August at 1500POG that shouldn't be much more than 12 months from now if Gold holds up.. :o)

Fully debt free could be another year away.., but that day is getting closer, a 25% FCF dividend payout would be just fine..!

Q3-2018 - Court approved the cancellation of the Company’s share premium allowing the Company the ability to pay dividends and buy-back its shares..

[casual47] 15/8/2019 14:32

Net debt doesn't need to be zero in order for them to pay dividends. Most dividend paying gold miners have lots of net debt (e.g. Poly $1.5B, HGM $180m)

[run12] 15/8/2019 14:27

Hi LLB - thanks for the considered response.
I agree pretty much with all you have posted.
It should be very interesting come end of the year. ATB

[laurence llewelyn binliner] 15/8/2019 14:19

#run12, I was being cautiously conservative with 30p, but realistic too.. :o)

Looking back on where we were pre-pitwall collapse for FY2018 with a 1271 POG, and 91,000/Oz we were around 27/28p

Forward to 2019 we are now recovering the AISC down to 998/Oz, still way too high, but this will have some carry over element from the repair work done, now washed through from Q3 with 1500 POG and 50% more profit margin heading into FY for 110-125,000 Ounce guidance for 2019.., current run rate at 10,000/Oz a month the Q3/Q4 numbers/financials will be very revealing

130,000/Oz guidance from 2020..

Deleveraging debt rate now running at USD -2M per month from total debt USD 51M at Q2, net debt USD 39M and that will accelerate too possibly unlocking dividends early around 18 month out from now..?

[borderterrier1] 15/8/2019 12:40

I agree. Hum isn't the share for that. I didn't expect "immediate profits" but I suspect if the share price isn't moving N now it never will. So why do I hang on? Like most investors here who have been waiting for a glimmer of hope, you only lose when you sell, so we hang on. But after this length of time, it ain't looking good.

[run12] 15/8/2019 11:21

LLB - 30p would put HUM at just over 100mil
IF there are no big failings and targeting 130,000 oz, with those sorts of margins I would expect a much higher price - with the usual caveat that they don't mess things up. That is the big IF - they don't mess things up and they actually start to deliver.