Hummingbird Resources Share Discussion Threads

[ukgeorge] 03/6/2020 18:57

NB are you happy with the share price performance?

[ukgeorge] 03/6/2020 18:47

Kenny (and others) what are your thoughts on this?

"2019 costs exclude ‘lease’ cost for the mining equipment of approximately $11.6 million now treated as lease payments under IFRS 16."

"Net cash generated by operating activities During the year ended 31 December 2019, the Group generated $44.7 million cash inflow from operating activities, a $26.5 million increase from 2018. Net cash flow from operations was higher largely as a result of higher sales during the year. 2019 cash flows from operating activities exclude ‘lease’ cost for the mining equipment and generators of approximately $11.9 million now treated as lease payments under IFRS 16 and now reflected under financing activities."

Is this done to purely reduce the stated AISC???

I read it as they are trying to say the leasing of the mining fleet is not an associated cost to mining.

[kennyp52] 03/6/2020 18:27

$39m of non cash amortisation / depreciation within the P&L - a substantial increase against the charge in the prior year . So cash generation if CAPEX is controlled is impressive . This is all before the recent trend of POG trading around the $1700 mark . Could be exciting .

[dan_the_epic] 03/6/2020 18:20

All in all not a bad but not a good set of results. I am surprised the AISC will be as much higher as they indicate. Good news is that valuation is very low and into profitability for the first time so the story still stands

[new_buyer] 03/6/2020 18:02

What did you expect to happen with the share price when today’s RNS with historical data was issued that the market pretty much already knows

[borderterrier1] 03/6/2020 16:27

And if any of you doubt what I say please read Iaintittles recent comprehensive comments on the LSE bb. I agree. I would hasten to add:- Get rid of the inexperienced Ceo and this will finally move N.

[temujiin] 03/6/2020 16:27

Not sure if it's already been noted, but 2019 accounts showed they had 2,963 oz of unsold gold, that at Jan 2020 POG of approx $1560 would have been worth $4.62m.

115,649 ozs of gold poured in 2019 (91,620 ozs in 2018)

112,686 ozs of gold sold in 2019

[dickbush] 03/6/2020 16:00

...and gold drops to $1690. Not a good day for HUM to give us bad news.

[qs99] 03/6/2020 15:49

DOW now nearly only 10% off previous highs. Given the economic hit, I have no idea how the earnings can justify this?

Any views? As impacts gold price which is hammered today as equities / dollar recover?

[temujiin] 03/6/2020 15:48

UKGeorge, as I said it was a basic calculation and was also 'gross profit', done purely as a reasonable comparison between 2019 and 2020.

Casual, again just a guesstimate and I just took 2019 figures and added $100/oz. It could be our AISC might be lower given reduced fuel costs, but equally POG sales might not average $1675, could be higher or lower.

[borderterrier1] 03/6/2020 15:37

New_Buyer Most of us invest in a company to make money when the share price goes up. Despite a huge amount of hype and confident predictions from those "in the know" (Fsj) since "mine completion" in 2017, this hasn't. You admit that DB is "not an experienced Ceo" and he has "had to learn quickly from mistakes made". ?????? Does it make sense to have an inexperienced Ceo in charge of a project like this? And if what you say is correct, what is he doing still at the helm and taking a large salary? Who paid for "the mistakes made?" Him? No, unfortunately, the longtime investors here because nobody trusts him now.

Many of the posts on the LSE bb today are from new investors that excitedly read the RNS and believe "Lots more upside from here". But the long tine investors have, unfortunately, seen it all before, many times over the last three years. Of course, true to form, you will now accuse me of telling lies but all I'm doing is repeating what you say in your post above. It looks as though, once again, investors here will be subjected to another long wait for the next update, to be rewarded (once again), with another damp squib. what don't you understand?

[bushtuckaman] 03/6/2020 14:46

I've started a new thread. Swallowbird resources - Straight down the hatch

[new_buyer] 03/6/2020 14:37

borderterrier you posted no facts, more lies, you have never supported any of your conspiracy theories, if you had it would be easy to search your thread and find it. "the best investment" how can anyone take
anybody saying that seriously? Really? Every investment is different and how can you quantify one as the "the best"? I have never ever seen a post that said DB was an experienced CEO, anyone who DTOR would know this but he has had to learn quickly that's for sure and from mistakes made.

UKGeorge, sadly not, various purchases and sales with an average low 20's so happy where I am at but I can fully understand why the biggest investor (Sustainable) having made in excess of 50% return in less than 12 months might be wanting to bank some of that profit whether it be because of their own rules or to invest elsewhere.

[ukgeorge] 03/6/2020 14:23

NB congratulations if you bought in at 15p. Sing away.

[borderterrier1] 03/6/2020 14:15

New_buyer I posted the evidence but I'm not doing it again because there was a lot of time consuming research involved. Here are the only FACTS you need to consider. In the run up to mine completion, this was hailed by many on here as the best investment, experienced board, Ceo etc. That was 2016-2017. For all the investors that were late to the party and bought on the lows, I'm happy for them. Unfortunately, I wasn't one of those. Since mine completion, this has tanked and I don't expect any improvement. Neither do the big investors, that's why they are leaving.

[new_buyer] 03/6/2020 13:52

Also UKGeorge is you bought in last year at the mid teens why can't you sing now at 29/30p?

[ukgeorge] 03/6/2020 13:46

NB, the black cloud is the share price which is sub 30p still.

When these are 40p or 50p the choir of Hummingbird supporters can start singing

[borderterrier1] 03/6/2020 13:40

New_Buyer The top posts on the Lse bb agree with me. Please read them again, slowly this time. No doubt the main investor here is abandoning ship.

[new_buyer] 03/6/2020 13:34

Best of going over to the grown ups board where borderterrier1 is blocked, as he is from LSE, says a lot about him/her in truth I am sure you will agree!!

[borderterrier1] 03/6/2020 13:26

New_Buyer 30p? Oh, sorry, I guess I blinked and missed it. Perhaps it will make it back up there in another year or two? And I whinged when the share price was 39p? Guess I missed that as well. Get your facts right. And most of us invest in a company to make money. This company isn't making us any (except of course Del Boy and the bod) so please take the time to read the other top 20 posts on the LSE bb about the abysmal share price They say the same as me. Open mouth, insert foot. Or in your case, both feet.

[casual47] 03/6/2020 13:17

Is the assumption that the $100/oz is added to 2019 AISC?

I would expect 2020 AISC (without the Covid factor) to be lower than 2019 seeing how much the rain season hampered the company.

[ukgeorge] 03/6/2020 13:15

Yes Temujin, but then knock off all the other expense the ones they choose to omit. Profit for 2019 was $8M.

Sparrow resources.