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HUM Hummingbird Resources Plc

9.00
0.35 (4.05%)
12 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hummingbird Resources Plc LSE:HUM London Ordinary Share GB00B60BWY28 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.35 4.05% 9.00 8.50 9.40 8.95 8.75 8.75 1,705,507 16:35:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 150.52M -34.28M -0.0569 -1.57 52.07M
Hummingbird Resources Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker HUM. The last closing price for Hummingbird Resources was 8.65p. Over the last year, Hummingbird Resources shares have traded in a share price range of 4.10p to 16.25p.

Hummingbird Resources currently has 601,918,700 shares in issue. The market capitalisation of Hummingbird Resources is £52.07 million. Hummingbird Resources has a price to earnings ratio (PE ratio) of -1.57.

Hummingbird Resources Share Discussion Threads

Showing 7901 to 7925 of 28025 messages
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DateSubjectAuthorDiscuss
22/8/2019
08:41
Yes, by and large fair points.
Redtrends nuanced points are more reflective of my position. I just wasn't sure they'd be taken up so didn't want to write that much. However, who knows I might need to find a home for a large sum sometime soon. So here goes...



I don't mind 1p options if they're for a large OVER delivery. Not delivery of guidance. Your salary is for guidance. I do mind though if it's too large a % of the company.
All in all I think the options were far too generous on their terms, size and price. That is more the point, and yes as has been pointed out (and I agree ironically by someone invested in another company that has done exactly the same) trust is the most important measure that is destroyed by overly generous rewards.
If I feel management wins despite shareholders losing I won't invest and that is what was portrayed by those options.

jbravo2
22/8/2019
08:21
Fair points and noted :)
fsjamescampbell
22/8/2019
05:46
Having said all that HUM need to listen to its shareholders and potential investors on how the Options were presented and constructed. It goes back to an earlier point I had:

"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)."

I raised this previously direct with HUM and so I feel FSJ and others should also raise it when they meet Bert.

redtrend
22/8/2019
05:35
Biggles - it's a rather strange position to take when Ariana did the exact same thing but worse few years back. It was the main reason I sold out of Ariana, as they gifted themselves abundant overly generous options at a time they were diluting shareholders to high heaven!

Betts himself nearly has circa 1.5% of HUM in equity irrespective of any options, so his interests are certainly aligned with shareholders.

The performance options are a bonus, instead of a monetary cash bonus - they are not just for the directors, but staff. The performance criteria were set at the higher thresholds of guidance and AISC. They missed the target last year as is well known so no options, will miss the AISC of $800 this year and struggle to meet the guidance of 120,000 Oz. If they somehow managed to hit the performance options guidance which means they need to produce 68,727 Oz for 2H 2019 (34,364 Oz per Quarter), it would be an amazing result for shareholders and the HUM team would certainly deserve the release of 1/3 of the options.

When HUM are more flush with cash, they can perform share buybacks and keep some shares in Treasury for Options, thereby avoiding any dilution. At $1,500 gold, if HUM continues to be this undervalued share buybacks is far more potent and powerful than dividends.

The most balanced post I've seen on the Options is from Casual on the HUM moderated board in response to one of my posts (posts 731 and 734).

redtrend
21/8/2019
21:55
But unfortunately, after being here for over 2 1/2 years it is obvious now that the priority for the Ceo and Bod is the Ceo and Bod. Luckily I don't need the money I have invested here and I will hang on indefinitely until this makes or breaks. Other investors, Golden Bull for example, are not so fortunate.
borderterrier1
21/8/2019
21:15
Don't get me wrong I do think this has legs and if I was in I'd stay in but at some point there will be a point where the directors have a deal which favours them more than paying shareholders. I do feel this company has potential but because of options issue I won't invest.
bigglesbingham
21/8/2019
20:34
bigglesbingham My sentiments entirely. Look at the 10 year chart here, it's an absolute disaster. I wish I had never invested.
borderterrier1
21/8/2019
20:05
I have to say that's the reason I didn't invest here. It's down to trust, How can you trust directors who gift themselves part of the company so blatantly. My real problem with this is the fact you don't know what they are going to do in the future at the detriment of paying shareholders. They've shown their hand . The company may well produce according to predictions or even excel but the fact that the directors are out for themselves rather than the shareholder is off putting. I hope it works out for shareholders here and I watch the share and boards closely but I can't get past the issuance/gifting of options. I won't post again and wish you all luck.
bigglesbingham
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.
borderterrier1
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?

jbravo2
21/8/2019
08:10
I will make a note of those :)
fsjamescampbell
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.

rickyhatton
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?

borderterrier1
20/8/2019
13:30
How's the new wall holding up & is production on schedule during this rainy season?
oohrogerpalmer
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?
toinifinity
20/8/2019
12:51
How are the hippos getting on?
new_buyer
20/8/2019
12:18
:) will pop on the list
fsjamescampbell
20/8/2019
12:12
When they doing another ProActiveInvestors evening in London?
goodgrief
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.

fsjamescampbell@aol.com

fsjamescampbell
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.

rickyhatton
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)

laurence llewelyn binliner
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.
bo doodak
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)

casual47
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.
bo doodak
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