Hummingbird Resources Share Discussion Threads

[redtrend] 27/11/2019 12:04

From Q2 2019 to Q3 2019, HUM's Net Debt position improved by $14m, in one quarter! Net Debt improved from $43m to $29m.

Does that sound like a company that is going bankrupt at these gold prices?

For all the time some people waste on these boards, time would be better spent understanding basic accounts, selling out of companies you believe to be a "dead" investment for whatever reason and researching companies you actually may want to invest in.

Incessant trolling on financial boards is the most bizarre activity I've come across. When an individual has posted 1,225 times in 18 months on only 1 board (HUM), you really need to question their sanity and intent.

[moneyfornothing1] 27/11/2019 11:24

Concerning for you certainly as you like to tell everyone all the time but I am very happy with things at the moment.

If you expect the share price to go to 15p by Christmas then a smart investor would sell now and buy back in at 15p. Do you have the courage of your convictions on that prediction?

[borderterrier1] 26/11/2019 21:28

Perhaps they will but, for the long term investors this is concerning for us now. After this length of time it would appear that we are dealing with a bunch of overpaid, self serving cowboys/public schoolboys who don't know what they are doing.

[replicas1967] 26/11/2019 20:42

Perhaps Cora will absorb them 😜

[borderterrier1] 26/11/2019 20:23

They might be. How would we know?

[kennyp52] 26/11/2019 19:44

borderterrier1 ... you sure they are not going bankrupt ? 🤪

[borderterrier1] 26/11/2019 15:31

DB The main impact of this abysmal share price is the other DB. He needs to go. Unfortunately, my guess for this share price would 15p by Christmas.

[dickbush] 26/11/2019 15:14

No help from the gold price. Currently just over $1450.

Neither is this

[borderterrier1] 26/11/2019 12:54

Zero interest here now.

[goosegreen] 21/11/2019 17:07

Thanks andrewsr

[goosegreen] 21/11/2019 17:06

Thanks chipperfield

[chipperfrd] 21/11/2019 16:31

goosegreen,

It all came to naught in the end.
Kobada looked like an interesting project and I had actually built it into my HUM model - but HUM pulled out.

[goosegreen] 21/11/2019 14:13

I'm looking at Hummingbird with a view to investment and I came across this on AFrican Gold's website.
I can't see it in Hummingbirds newsfeed

hxxp://www.africangoldgroup.com/news-releases/2017/10/11/agg-enters-binding-loi-hummingbird-resources-strategic-investment-joint-development-kobada-gold-project/

best wishes

Jon

[goosegreen] 21/11/2019 13:53

I'm looking at Hummingbird with a view to investment and I came across this on AFrican Gold's website.
I can't see it in Hummingbirds newsfeed

hxxp://www.africangoldgroup.com/news-releases/2017/10/11/agg-enters-binding-loi-hummingbird-resources-strategic-investment-joint-development-kobada-gold-project/

best wishes

Jon

[lurker5] 20/11/2019 19:40

andrewsr The point about Dugbe is that for a lower NPV the capex is much higher than Yanf, so its financing won't be so easy, and will involve a lot of dilution. In any case I was selling at around double the current price. TBH I haven't looked recently, but in effect we're faced with a brand new project which needs a full feasibility study, and financing. All in all can't see he shares doing much unless gold really takes off. Other lessons were the nonsense peddled by the broker (R not in Peace I hope)

[borderterrier1] 20/11/2019 13:13

Gentlemen. We can argue back and forth here for the next few years but the ultimate proof is the abysmal performance of the share price

[andrewsr] 20/11/2019 13:01

Lurker,
Your 2758 copied post is a worthwhile read in that reasoned arguments are presented. Although, using a 12% discount rate for a mine that was already up and running is bordering on absurd, rather than 'savvy'. Not forgetting earnings are in $'s with a very low inflation rate.
Dugbe has been 'out of sight', but must be in focus now and could surely be rationalised as a smaller operation if the large capex and long construction time is considered too risky. It has a NPV (post tax, 10% discount rate) of $337m (at $1500/oz), $186m at $1300/oz with no current value - not very 'savvy'.

[borderterrier1] 20/11/2019 02:07

Bo Doodak. To answer your question above. I would be more than happy to offer my advice to the bod as you suggest. It's simple. Replace the Ceo with someone who is experienced in the mining industry. He isn't.

[lurker5] 19/11/2019 21:42

Andrewer. See my post 2758 end Feb 2018. I've had to write many such over the years. What I said there re HUM is even more germane now.

[kennyp52] 19/11/2019 21:17

Possibly just needs some positive figures and production to rev it up . It’s certainly cheap enough to take the gamble and based on resources could have a very profitable future . See what happens on the next RNS . I would think the experts on here took the opportunity to average down in the summer with some sub 15p shares ?

[dickbush] 19/11/2019 19:30

HUM got an AIM quote when it was an explorer with nothing but hope. Now it is in full production. After a very profitable 3rd qtr and expectations of further improvement in the fourth, I am hoping that will show annualized EBITDA of circa $75mil. That translates into after tax income of circa $50mil, eps of circa 11p. Free cash flow of circa $60mil. If you believe any of their presentations, they have multiple ways of maintaining or expanding gold output beyond the life of their current operation in Mali. I may be optimistic but further information on the life of Yanfolila may be helpful.

Any longer term holder (BT) or anyone who has looked at just the last two years knows about the risks and you are right that in allocating a multiple of EBITDA or free cash flow, comparators are thin on the ground. For my own part, I'm willing to bear the risk with the company's market cap at $90mil and free cash flow of, perhaps, triple that over the next four years. Although one of those risks is the future price of gold, the prospect of further excessive money printing globally to support a weakly growing global economy and near zero interest rates seems to me to be a very supportive background for the gold price.

[andrewsr] 19/11/2019 19:22

The negative posts here are not providing information or risks, just vague notions like 'the management are rubbish' or 'this isn't a solid investment' or 'this is going to 15p' without any reasoning.
IMHO investors here will discuss risks with appropriate reasoning.
Perhaps you're suggesting this is a 'short-term' project, in which case, how short-term, what risk factors should be applied to resources not within the mine plan?
The 'market' appears to be discounting Dugbe to zero - is this rational?

[lurker5] 19/11/2019 18:38

What children they must be who whinge about 'negative' posts. Don't board readers want to know the risks ? I often point out the downsides to many shares, and have always, always, been right. Its like shooting fish in a barrel. The fact is that most AIM miners are overvalued by pi's who don't know how the professionals value them. That's why they're on AIM ! There's so little scrutiny, and the pi's who've been bamboozled by some broker 'presentation' will hang on grimly to his dream in the face of all evidence to the contrary. The worst mistake is to find some metric (eg this year's "phenomenal cash flow") and apply some measure that is only appropriate for a very long term project - instead of AIM's usually short lived ones. Bucket shop brokers will often do the same.

[new_buyer] 19/11/2019 16:18

Bo Doodak with Borderterrier in charge it reminds me of that old saying that "a gold mine is just a hole in the ground with a liar on top" and never would a saying be so apt!!