Hummingbird Resources Share Discussion Threads

[bubloo] 28/8/2020 13:46

rsg likely to be in FTSE 250 but no movement ? any reasons. I hold rsg 10000 bought at present level. was hoping for some movement but surprisingly none.

[dickbush] 28/8/2020 10:18

Cinoib

If this isn't the perfect background for HUM, I don't know what is.

[dickbush] 28/8/2020 10:16

FYI. RSG's first half report.



Note that Mali mine is currently 60% of total production, no mention of any infections, and AISC to be lower in the second half, although the primary driver is the sale of the Ravenswood mine (high AISC).

[new_buyer] 28/8/2020 09:44

I think all round the US is a basket case at the moment, something needs to change, are Trump or Biden the answer, I suspect not so maybe 4 more years of an unsettled US ahead.

[dickbush] 28/8/2020 08:55

Great for gold

Overnight, the Federal Reserve said it would roll out an aggressive new strategy that aims to boost employment and let inflation rise higher for longer than in the past.

Chair Jerome Powell laid out an update to the Fed's policy, that would seek to achieve inflation averaging 2 per cent over time, so that periods of lower inflation would likely be followed by an effort to lift inflation "moderately above 2 per cent for some time", before the Fed would raise interest rates.

The change suggests the US central bank's key interest rate, already near zero, will stay there for potentially years to come even as inflation begins to rise.

BIS Oxford Economics chief economist Sarah Hunter does not expect the Fed to raise rates until early 2024.

[ukgeorge] 27/8/2020 22:33

Pre tax profit in H1 $23.7M divided by production 54koz = $436/oz margin

H1 sales price $1621 - 436, company level cost of production $1185

If H2 production is 60koz gold price $1800 - 1185 x 60 = $39.9M

A bit simplistic and if production is 60koz costs would be a bit lower.

Last quarter throughput was 338kt at 2.36g/t. They cautioned that the mill is running at below full capacity so assuming they process 338kt in q3 in order to produce 30koz the grade of ore processed needs to be 2.95g/t. Hopefully they are back into a higher grade section of the mine plan.

$39.9M /400M shares in issue (after Kouroussa deal) = 10 cents (7.6p) per share.......

Just need to get back to 30koz per quarter. Rainy season, covid/coup complications, grades to battle with and gold to remain high fingers crossed it can be done.

[laurence llewelyn binliner] 27/8/2020 19:11

POG Q1 2020 1568 AISC 839 margin 729
POG Q2 2020 1663 AISC 998 margin 665
POG H1 2020 1621 AISC 936 margin 685
POG Q3 2020 1838 AISC 936 margin 902 estimate
POG Q4 2020 1950 AISC 936 margin 1014 estimate
POG H2 2020 1869 AISC 936 margin 958 estimate

2020 guidance 110-125K Oz (117.5 mid)
H1 56,095 Ounces
H2 61,500 Ounces for mid guidance

H1 2020 revenue USD 92M
H1 2020 pre tax profit USD 23.75M

H2 revenue 115M est
H2 gross profit 35.8M est
H2 pre tax profit USD29.75M est

#Chip.. I agree with all your ratios except the post tax, do we know how many losses are to be carried forward or CAPEX allowances are still to be worked through to offset against Corp tax, you got 19.7% bottom line from..?

[cinoib] 27/8/2020 15:16

See the yanks targetting gold again see if it rebounds by close. hope so.
Fozzie. Is like every where else, has it's good points and it's bad points, it's just a matter of what you are looking for.. Just now some rain would be usefull.

[fozzie] 27/8/2020 14:23

No we didn't manage to come Cinoib, it will have to wait till next July now. Aim to retire in a few years and look to live in Paderne 4-6 months a year, very envious.

[andrewsr] 27/8/2020 14:14

It doesn't rain 'very much' in Portugal compared to Manchester or Bamako... :-)

Isn't that right, Casual?....Oh no, wait a minute, you can't say that, it depends on the topography, hills, flat plains etc and, don't forget, the water table level......

[ukgeorge] 27/8/2020 13:45

is it raining?

[cinoib] 27/8/2020 13:13

MM's must have herd me grumbling.

[cinoib] 27/8/2020 12:48

Was hoping for a little more than /1p on the bid, ut one never knows See what the yanks do with the gold price later.
fozzie, did you get your holiday in or not as is still baking here with just a reminder that the rain hasn't forgotton us all together.

[fozzie] 27/8/2020 11:25

Sure did QS. Bushfires gave me a chance at PUR and a coup here was an equally good opportunity to add. Experience tells me that these are good times to add.

[qs99] 27/8/2020 11:16

Lovely job....hope a few topped up low 30s...

[qs99] 27/8/2020 10:12

Stepping up again

[qs99] 27/8/2020 08:16

Looks like it is continuing to attract buyers at these depressed levels

[borderterrier1] 27/8/2020 00:06

Kennyp52 This IS my hobby.

[kennyp52] 26/8/2020 22:54

Can I suggest a hobby ?

[cinoib] 26/8/2020 21:58

Should see some solid forward action in the morning after the yanks have been buying gold like it's going out of fashion, $14 down to $25 up and 3 mins to go, all bodes well for a good come back.

[cinoib] 26/8/2020 16:58

Just had a quick read and can't see out wrong with those results based on an average pe for the sector of 12 and an exchange rate of 1.32 that gives us an share price on a years results taking it the next 6 months are similar of 91p so a long way to go yet so sit tight and watch the gold price rise again. No worry here.

[ukgeorge] 26/8/2020 15:47

SPAngel view

Hummingbird Resources (HUM LN) – Interims highlight strong earnings reflecting better gold prices

Hummingbird Resources (HUM LN) 34p, Mkt Cap £122m – Interims highlight strong earnings reflecting better gold prices
• Revenue totalled $92.0m (H1/19: $67.1m) reflecting higher realised gold prices of $1,621/oz (H1/19: $1,304/oz).
• Gold sales amounted to 56.1koz (H1/19: 51.0koz) at AISCs of $936/oz (H1/19: $1,135/oz)
• EBITDA came in at $38.9m (H1/19: $9.9m)
• PAT was $22.8m (H1/19: -$6.5m).
• FCF (post interest) amounted to $18.3m (H1/19: $3.3m) helping to continue deleveraging the balance sheet.
• Net debt (including leases and investments) came down to $30.0m (FY19: $38.0m) with the Company reporting 4koz in gold inventory on hand as of 30 June worth around $8m further reducing outstanding net debt balance when accounted for.
• Bank debt is on course to be fully repaid by the end of H1/21.
• The Company reported it has not been yet affected by the latest political unrest in Mali. The Company's in-country security team is monitoring the developments closely and keeping the operations, contractors and management teams well informed.
• The Company reported 10 positive COVID-19 cases during the period with all individuals having now fully recovered and are back at work. The team is monitoring some new COVID-19 cases with the health and safety department continuing to implement stringent protocols to help minimise the risk of further infections.
• FY20 guidance reiterated at 110-125koz at $995/oz in AISC.

[qs99] 26/8/2020 15:19

Looks like Mr Market is backing management IMO!