Hummingbird Resources Share Discussion Threads

[techandy] 30/7/2020 20:30

I was about to ask how's it going BT, but clearly very well.

[ukgeorge] 30/7/2020 18:16

thanks, might have to buy some more tomorrow or in a few days when the general sell off has finished

[borderterrier1] 30/7/2020 17:39

New-buyer One of my picks up 41% today! Pretty good huh? I knew you'd be pleased!

[dickbush] 30/7/2020 15:33

From 2019 audited results 3/6/2020.

"We also continued to build on our Reserves at Yanfolila during the year and were pleased to add a further 165,000 ounces to pre-production Reserves, an increase of 32% to the previous Reserve base."

[casual47] 30/7/2020 13:04

It would be nice if they could confirm a LOM of e.g. 7 years, nevertheless.

[andrewsr] 30/7/2020 13:03

Like most other miners.
BFS is just for financing purposes. As you say, it gets extended, so it's not known and can only be estimated.

[casual47] 30/7/2020 12:48

No, LOM is known based on e.g. BFS. (Doesn't mean mining stops after that as LOM typically gets extended at the same/better rate as they deplete)

HUM has so far failed to provide one.

[andrewsr] 30/7/2020 12:43

Yanfolila has a mine plan for the next 4-5 years, but that's not the mine life. They won't know the mine life until the day they announce its closure, but you could estimate, say 10-15 years, based on current resources, Cora and drill results not included in current resources. Then you have Kouroussa (5 year mine plan, but mine life >> 10 years based on resources and drill results?) and Dugbe (20 years?), which should assure the company's existence for 10-15 years minimum, which in turn should justfify a pe much greater than 4. IMHO a pe of > 10 would be reasonable now based on 2020/21 earnings.

[ukgeorge] 29/7/2020 21:56

The mine life is very low, I hadn't also knocked 30% off for tax, the gold price could easily drop and I don't want to sound like a fruit loop and suggest a share price of £2...... I'd be happy with 50-60p by year end

[borderterrier1] 29/7/2020 18:22

UKGeorge Oh noooooo! The secret's out! Please don't tell NB!

[wassapper] 29/7/2020 18:07

George. A PE of 4? Where does that idea come from? I appreciate that under your calcs that represents a doubling, but why so modest? With gold set to rise over 2k, and even up to 4k, gold stocks could be valued like tech stocks, like Teslar, make it a PE of 50, or 100, or whatever! :-)

[ukgeorge] 29/7/2020 17:51

Buying shares in bunker hill? Haha

[borderterrier1] 29/7/2020 16:36

new_buyer 40p you say? Oh, sorry, must have blinked and missed it? Oh, look! This is back down to where it was as a hole in the ground FOUR YEARS AGO! Good job I sold another bunch of shares on the NYSE today. I hope I'm wrong but unfortunately, it looks as though the rot has set in again here? I will reinvest in K92 mining and another gold miner in Idaho that is sitting on massive resources. Shhhh! Sorry NB I can't divulge the name but even if I did you would probably say I'm whinging again like you do with my other gold picks.

[borderterrier1] 29/7/2020 16:35

new_buyer 40p you say? Oh, sorry, must have blinked and missed it? Oh, look! This is back down to where it was as a hole in the ground FOUR YEARS AGO! Good job I sold another bunch of shares on the NYSE today. I hope I'm wrong but unfortunately, it ooks as though the rot has set in again here? I will reinvest in K92 mining and another gold miner in Idaho that is sitting on massive resources. Shhhh! Sorry NB I can't divulge the name but even if I did you would probably say I'm lying like you do with my other gold picks.

[ukgeorge] 29/7/2020 14:34

Falling on low volume, nothing to worry about (hopefully not famous last words). A retrace IMO is somewhat needed given the run since 30p was taken out.

Fundamentals seemingly all remain intact, should be producing 10koz a month company AISC around $1,100 so at today's prices likely clearing $800/oz $8M a month fcf.

Cash might be lower than we expect as they mentioned they will be ordering long lead time items for Kouroussa.

Okay we can't rely on a $1,900 gold price but 12 months of that is $96M (£73M) or near enough the capex of the new mine.

At 40p the mkt cap is say £160M so P/E of about 2.3.

I would think a P/E of 4+ would be more sensible (I might be a bit biased).

On the LSE board quite a few people have mentioned how they have sold up which obviously is fine/each to their own, but now is surely just the start of the big re rate.

[new_buyer] 29/7/2020 12:12

Whinged all the way up to 39p, whinged all the way down to 15p, still whinging now back at 40p, go figure eh!!

[ukgeorge] 29/7/2020 09:12

Yes great news, sounds like the reserves will double at the main project. Great shame Hum didn't participate in the rights issue at circa 5p. That will always baffle me.

As does how Hum has accumulated 6% of bunker hill a company that doesn't own an asset. In a lawless country that has riots on a daily basis. Those shares have fallen 65% since last quarter.

Anyway roll on Q2 results here being good. Although I'm not holding my breath. Please Dan don't have thrown any spanners in the works.

[qs99] 29/7/2020 08:56

Decent CORA news...

[borderterrier1] 28/7/2020 21:42

avsome1968 I agree....and it's about time! It only takes four years to get this share price back to where it was when it was as a hole in the ground. Or as new_buyer would put it "a whole in the ground". Never mind NB, you can afford a dictionary now! Good luk with yore investmrents!

[cinoib] 28/7/2020 21:42

At this rate we could see 43p tomorrow as gold has hit $1960 and still rising. That's an almost 450 reverse in one day, astonishing as I didn't expect that I was more on the side of caution and a close of about 420 defersit. My late buys here and Paf should prove well worth it in the morning I reckon as if the yanks couldn't short it then we've no chance. My $2,00 by year end will need to be revised to weekend or even day's end tomorrow. I am pondering $2,400 could be on the cards by Xmas, if it does will be a very happy Xmas for some of us.