Hummingbird Resources Share Discussion Threads

[casual47] 14/1/2020 11:52

Whatever it is, if it isn't Endeavour or somesuch it could be a rather bumpy ride...

[casual47] 14/1/2020 11:49

May be a red herring but:

Here:
"In May 2012, through a listed Nevada exploration company called Daulton Capital, Pudur bought a 41% stake in Australia’s ARX Springs gold project. The deal was valued at $4.3 billion, according to a filing with the U.S. Securities & Exchange Commission, even though the stock was trading at less than 4 cents a share. The press release issued at the time claimed the project would generate $22 billion in gold sales over its 20-year lifetime. The next month Pudur changed Daulton’s name to Celframe ARX Resources. But on Aug. 28 he resigned from the board and sold his stake–he blames a difference of opinion with his partners–and Celframe was dropped from the name."


And here:

[goosegreen] 14/1/2020 11:44

Chipp...

I have found ARX.V at hxxps://www.arcresources.com/

But it is an oil and gas company.

This probably doesn't help!!!

Jon

[chipperfrd] 14/1/2020 11:02

Some movement on the Dugbe project!

Dugbe Gold Project
As previously announced, Hummingbird has continued to explore numerous avenues in order to progress the exploration and development potential of the Dugbe Gold Project in Liberia. We are pleased to announce that, as part of this process, Hummingbird has signed a non-binding memorandum of understanding with ARX Resources Limited ("ARX"), a BVI incorporated company, whereby, subject to certain conditions precedent, ARX will acquire the Dugbe project and commit at least US$30m for further exploration to increase the already substantial (4.2m oz, independently verified according to the CIM Code) gold inventory and complete a Feasibility Study on the Project. The 2013 PEA showed an NPV10 (post tax) of US$337 million at a US$1,500 gold price and a resource estimate that the management of ARX strongly believe they can materially improve upon.
The conditions precedent include but are not limited to the satisfaction of all legal, government and regulatory approvals; the approval of both Boards; the availability of at least US$30m of liquid finance; an approved management team with the requisite skills and experience to develop the project and satisfactory shareholder protections, including various anti-dilutionary rights for Hummingbird. As part of this deal, Hummingbird expects to become a significant shareholder in ARX, have Board representation and assist with the development and execution of all operating plans. Further updates will be forthcoming if the ARX deal progresses to a binding nature, of which there is no current certainty.

So far I have not been able to find "ARX Resources" so difficult to assess how this non-binding agreement is likely to progress. Has anyone else found any info regarding this company?
Chip

[kennyp52] 14/1/2020 09:15

Very decent figures . Be good to see the profit and loss account but confident in share price rise .

[cantrememberthis2] 14/1/2020 09:02

Easy 1x Bagger all over it

EVE SLEEP

Cash in Bank higher than Market Cap

Just 6 days time for results

[wskill] 14/1/2020 09:02

Looks good to me bought a couple of lots to add to my holdings only due to having to split the order as they would not fill it .

[moneyfornothing1] 14/1/2020 08:35

Good news to see Dugbe potentially moving forward too.

[rickyhatton] 14/1/2020 08:18

Paying down $10m or more of "trade and other payables" ?
Conf call should clarify.

"We will continue to deleverage aggressively, paying down our outstanding debt and target a position of net cash in H2 2020, as we continue our focus on increasing shareholder value"

"Outlook
-- 2020 guidance is to be set later this month alongside the release of the updated rolling mine plan incorporating the new open pit reserves

-- Targeting net cash position in H2 2020
-- Debt free by the end H1 2021"

Only half of ore mined was processed in Q4

[wimbled] 14/1/2020 07:59

2019 target was stable gold production. This was achieved.
2020 will be managing costs and reducing debt.
Therefore 22p to 23p should be a baseline with increasing share price through 2020. Supported by gold exceeding $1700.

Patience........will added to my position

[laurence llewelyn binliner] 14/1/2020 07:59

#Chip, on Gold sale prices

Q1 was 1291 against POG of 1304 (-13)
Q2 was 1311 against POG of 1309 (-2)
Q3 was 1422 against POG of 1475 (-53)
Q4 was 1452 against POG of 1480 (-28)
FY2019 average POG was 1392

The gold dore is sold at a discount to the refined gold price which approximates to the refining and transport costs that are borne by Auramet International..

[qs99] 14/1/2020 07:44

looks like will have to wait until FY results to see cash flows unless someone begs the question on any conf. call after RNS today

[jbravo2] 14/1/2020 07:41

Well maybe some of it. They paid off 5m but reduced cash 7m.
So they lose 2m per qtr at 32koz and over 1450 gold?

[replicas1967] 14/1/2020 07:38

Paying of their loans

[jbravo2] 14/1/2020 07:36

Where is the cash going?

[avsome1968] 14/1/2020 07:21

14 January 2020
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc
("Hummingbird" or the "Company")
Q4 2019 Production Results and Operational Update
Hummingbird (AIM:HUM) is pleased to announce preliminary production results for the fourth quarter ("Q4") and twelve months ended 31 December 2019 at its Yanfolila Gold Mine in Mali.
Hummingbird is pleased to announce that it has achieved its 2019 full-year production guidance of 110-125,000 ozs, having produced 115,649 ozs in the year.
Yanfolila Operational Highlights
-- Production increase, and associated cost decrease, for the fourth consecutive quarter
-- 33,892 ozs of gold poured in Q4 2019 (30,484 ozs in Q3 2019)
-- US$839/oz AISC in Q4 2019 (US$849/oz AISC in Q3 2019)
-- Average grade of 2.91 g/t in Q4 2019 (3.23 g/t in Q3 2019)
-- 31,278 ozs of gold sold in Q4 2019 at an average price of US$1,452/oz
Corporate highlights at 31 December 2019
-- Cash of US$9m (US$16m at end of Q3 2019)
-- 2,900 ozs of gold inventory on hand worth approx. US$5m at current prices
-- Bank debt of US$40m at the end of the FY 2019, with US$5m repaid in the quarter (US$45m at end of Q3 2019) in line with deleveraging plan
Outlook
-- 2020 guidance is to be set later this month alongside the release of the updated rolling mine plan incorporating the new open pit reserves
-- Targeting net cash position in H2 2020
-- Debt free by the end H1 2021
Dan Betts, CEO of Hummingbird, commented:
"I am pleased to report another quarter of improved operational performance with both production increasing and AISC decreasing for the fourth consecutive quarter, resulting in the Company achieving mid guidance for full-year production. After the well documented challenges earlier in the year this is a considerable achievement and I am extremely proud of the team for the way they have delivered on the production plan, ending the year on a high.
We continue to focus on financial discipline to further improve cash flow generation and strengthen the balance sheet. We will continue to deleverage aggressively, paying down our outstanding debt and target a position of net cash in H2 2020, as we continue our focus on increasing shareholder value.
We are positive in our outlook for 2020 and look forward to releasing our 2020 guidance with an updated rolling mine plan incorporating the new open pit reserves. We will also add further detail on our plan to develop the considerable opportunities within the Yanfolila licenses via targeted exploration and developing underground studies."

[avsome1968] 14/1/2020 07:20

14 January 2020
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc
("Hummingbird" or the "Company")
Q4 2019 Production Results and Operational Update
Hummingbird (AIM:HUM) is pleased to announce preliminary production results for the fourth quarter ("Q4") and twelve months ended 31 December 2019 at its Yanfolila Gold Mine in Mali.
Hummingbird is pleased to announce that it has achieved its 2019 full-year production guidance of 110-125,000 ozs, having produced 115,649 ozs in the year.
Yanfolila Operational Highlights
-- Production increase, and associated cost decrease, for the fourth consecutive quarter
-- 33,892 ozs of gold poured in Q4 2019 (30,484 ozs in Q3 2019)
-- US$839/oz AISC in Q4 2019 (US$849/oz AISC in Q3 2019)
-- Average grade of 2.91 g/t in Q4 2019 (3.23 g/t in Q3 2019)
-- 31,278 ozs of gold sold in Q4 2019 at an average price of US$1,452/oz
Corporate highlights at 31 December 2019
-- Cash of US$9m (US$16m at end of Q3 2019)
-- 2,900 ozs of gold inventory on hand worth approx. US$5m at current prices
-- Bank debt of US$40m at the end of the FY 2019, with US$5m repaid in the quarter (US$45m at end of Q3 2019) in line with deleveraging plan
Outlook
-- 2020 guidance is to be set later this month alongside the release of the updated rolling mine plan incorporating the new open pit reserves
-- Targeting net cash position in H2 2020
-- Debt free by the end H1 2021
Dan Betts, CEO of Hummingbird, commented:
"I am pleased to report another quarter of improved operational performance with both production increasing and AISC decreasing for the fourth consecutive quarter, resulting in the Company achieving mid guidance for full-year production. After the well documented challenges earlier in the year this is a considerable achievement and I am extremely proud of the team for the way they have delivered on the production plan, ending the year on a high.
We continue to focus on financial discipline to further improve cash flow generation and strengthen the balance sheet. We will continue to deleverage aggressively, paying down our outstanding debt and target a position of net cash in H2 2020, as we continue our focus on increasing shareholder value.
We are positive in our outlook for 2020 and look forward to releasing our 2020 guidance with an updated rolling mine plan incorporating the new open pit reserves. We will also add further detail on our plan to develop the considerable opportunities within the Yanfolila licenses via targeted exploration and developing underground studies."

[fsawatcher] 14/1/2020 07:16

this goin no where

they cant even increase cash with gold at $1500

all they doin is paying $5m debt per qtr

[borderterrier1] 12/1/2020 16:58

Plasybryn Are you saying you can't read the post from trader365?

[borderterrier1] 12/1/2020 16:57

Plasybryn Are you saying you can't read the post from trader365?

[plasybryn] 12/1/2020 16:40

Sorry but can't read it.

[plasybryn] 12/1/2020 16:38

Can't read it!

[borderterrier1] 12/1/2020 16:04

kennyp52 As I have often said on here, the cash I have invested in Hum is an almost insignificant amount for me. But that doesn't stop me from being concerned about what is going on here and as an investor, I will comment as I see fit. But then, I'm obviously not as gullible as some of you are to swallow this ongoing B/S. But the post above from Trader365 "Kenny the clown" sums your comments to me on here up. Obviously he knows you a lot better than I do.

[dice1950] 12/1/2020 15:21

papers’ share tipsters picked for 2020