Hummingbird Resources Share Discussion Threads

[ukgeorge] 08/10/2020 09:56

Come on Hummingbird time to fly!!

A few closes above 40p and the breakout should be on and a quick rise similar to when 30p was taken out. 50p obviously psychological barrier but a spike to 53-54p looks feasible imo.

[troc1958] 08/10/2020 09:25

Bush ....agree with you about not publishing full drill results. SW look very good, but are they "cherry picking" and publishing the best results only? Will wait for the new resource estimate before deciding to invest further.Troc

[cinoib] 08/10/2020 09:18

ooks like a very healthy set of drill results to me. All we need now is the gold price t keep moving up as I have another parcel of land on my radar I need to some cash for.

[bushtuckaman] 08/10/2020 09:04

Great to see some superb intersections coming out of the Sanioumale West deposit and also just beneath the bottom of the current KE pit shell. You have to wonder if that pit will be extended a little deeper ultimately.

I find it rather annoying that they haven't published a full table of all the drill results.

KEUGDD014 suggests a northern extension of the KE pit, yet KEUGDD009 on the diagram looks like a blank and suggests otherwise. Can't be sure though as they didn't publish the data from KEUGDD009

Does anyone know who ownes the exploration licence between SW and KE?

[laurence llewelyn binliner] 08/10/2020 08:38

Berenberg flashnote 03.06.2020 target 47p
Cannacord research note 18.06.2020 target 52p
Cannacord research note 10.08.2020 target 55p

RNS 08.10.2020 confirming LOM extension.. :o)
Q3 update imminent..

They will all be revisiting their upside numbers when the JORC is released..

[bubloo] 08/10/2020 08:26

any views on tharisa please on its thread.good update with rising pgm prices

[bubloo] 08/10/2020 08:25

if some large institutional investors cotton on to the exciting story here, they well may take the scapital chunk of shares which is gradually reducing in one go and then a big boom in share price rise. It is getting coiled in the right direction for a big quick share price spike in my opinion.

[rickyhatton] 08/10/2020 08:09

It's still really still early doors drilling results announcements.

They have good results from SW that will extend LOM but with 2000 assays still outstanding. So watch this space.

SE they are still drilling but due to complete this month. So all results still to come. (objective of the drilling is to improve the confidence of the known mineral resources, test the continuity of mineralisation into the fresh rock)

Diaban is a new target but won't be drilled until 2021but aim is to extend LOM ("attention will return to the extensive Diaban area to test the Company’s geological models in pursuit of discovering new mineral resources as Hummingbird looks to continue extending the LOM")

KEUG,looking at an underground mine, they say is "feasible" but I read that as meaning the jury is still out, and further work needed.

There will be a resource increase update on SW next year.

[catsick] 08/10/2020 07:37

All looks good for a life of mine extension by a few years and corresponding fall in all in costs

[qs99] 08/10/2020 07:08

Views on drilling results?

[temujiin] 08/10/2020 07:08

Looks like some very nice drill results have started to come in at Yanifolia

o Notable ongoing drilling results from SW include:

-- 15 m at 18.25 g/t from 16 m depth (SNWRC0433)

-- 7 m at 9.75 g/t from 68 m depth (SNWRC0393)

-- 21 m at 3.16 g/t from 24 m depth (SNWRC0396)

-- 8 m at 7.04 g/t from 23 m depth (SNWRC0364)

-- 4 m at 13.24 g/t from 25 m depth (SNWRC0342)

-- 29 m at 1.77 g/t from 27 m depth (SNWRC0350)
==============================

Yanfolila 2020 Exploration Drilling Programme Update

Hummingbird is pleased to provide an update on its 2020 Exploration Drilling Programme ('2020 Exploration Programme') and the recent significant drilling results at Yanfolila.

The Company has now drilled over 21,509 metres this year and is 95% through the budgeted US$5 million drilling and exploration programme for 2020 with encouraging results to date. One of the Company's key internal goals this year is for the exploration and drilling programme to further refine Hummingbird's mine expansion plans and show the potential for increased resources at Yanfolila. Once this year's exploration and drilling programme is complete, the Company plan to conduct a mineral resource update and will provide progress updates in due course.

Overview of the 2020 Exploration Programme at Yanfolila

The Company's 2020 Exploration Programme is focused on the following:

a. Identifying high-grade resources at the Komana East Underground ('KEUG') deposit;
b. Identifying additional open pit oxide resources and reserves at Sanioumale West ('SW') and Sanioumale East ('SE'); and

c. Testing new greenfield resource targets within the Company's mining licenses and nearby exploration license area known as Diaban.

An update on each of these regions is provided below.

To view the RNS with illustrative maps, drilling section intercept graphics and sample analysis please use this

link:
Highlights of the 2020 Exploration Programme to date

-- The KEUG 2020 drilling programme is now complete

o With over 4,535 metres ('m') drilled from 14 holes (see deposit image below), this has highlighted the continuity of mineralisation plunging northwards at depth beneath the current operating pit and the presence of high grades to feasibly support underground mining at Yanfolila

o The results of hole KEUGDD014 (3.5 m at 5.41 grammes per tonne ('g/t') gold ('Au')), in the northern end of the open pit shows that mineralisation is still open in that direction, increasing the potential for further resource growth northwards

o Notable completed drilling results from KEUG include:

-- 2.5 m at 6.16 g/t from 292.6 m depth (KEUGDD011B)

-- 3.5 m at 5.41 g/t from 195.6 m depth (KEUGDD014)

-- The SW open pit deposit, located 16 kilometres north of the process plant (see map below for details), drilling campaign is also complete with over 13,000 m drilled as part of the infill and resource expansion programme for the deposit

o The results have been positive in confirming improved confidence in the mineral resource grade, overall geology and further extending the known depths of mineralisation below the current shallow pit design

o Notable ongoing drilling results from SW include:

-- 15 m at 18.25 g/t from 16 m depth (SNWRC0433)

-- 7 m at 9.75 g/t from 68 m depth (SNWRC0393)

-- 21 m at 3.16 g/t from 24 m depth (SNWRC0396)

-- 8 m at 7.04 g/t from 23 m depth (SNWRC0364)

-- 4 m at 13.24 g/t from 25 m depth (SNWRC0342)

-- 29 m at 1.77 g/t from 27 m depth (SNWRC0350)

[temujiin] 07/10/2020 21:29

LLB, plenty of good news flow expected over the next couple of years, but SC will restrict the rise if they keep selling. 50p and above is the least we should expect near term, given the expected upside, but that depends on not having a seller still holding 6.9% of HUM.

[laurence llewelyn binliner] 07/10/2020 19:49

#Temujiin.., it will not be long before we find out our current financial position, the Q3 update was 21.10.2019 last year..

Every day is an other day closer to:

(1) net cash positive
(2) debt free
(3) a maiden dividend... :o)

50p for Xmas....?

[temujiin] 07/10/2020 19:02

What is extraordinary is that there has been zero response to such good news.
=============

I think LT investors in many companies are very used to positive news being totally ignored by the market. It's frustrating but as long as one is comfortable with the company and it's future plans, then it really is a waiting game. We waited a while to get out of the 20's, and that imo only happened when SC eased off on their substantial holdings reduction.

I'm pretty sure SC's continued selling is the reason why HUM are still in the 30's. However SC selling only affects our SP, it doesn't alter how much cash HUM are now raking in, the high probability of increased Yanifolia reserves and mine life extension, Dugbe development or Kouroussa 100,000/oz/yr mine plans.

Sustainable are imo, giving investors plenty of time to accumulate at artificially subdued prices.

[temujiin] 07/10/2020 08:50

It's quite extraordinary that a coup toppling an elected Gov't actually results in a much more stable country and settled population. POG is holding up well over $1800/oz although it could lose over $300/oz and HUM would still be in the money. Obv $1800 better :)

Looking forward to every RNS about Yanifolia, Dugbe, Kouroussa and even BH as it's odds on going to be positive. Would like to see the share price over 40p soon but that could be hampered by SC if they keep reducing. All looking good though so happy to wait.

[charlieeee] 06/10/2020 23:54

Sanctions lifted by ECOWAS

www.aljazeera.com/news/2020/10/6/west-african-leaders-lift-post-coup-sanctions-on-mali

Really good news that this has been resolved so quickly and efficiently, putting an end to the simmering protests.

[dickbush] 06/10/2020 21:13

Note the article at bottom right: Trump wants to abandon talks on the fiscal stimulus.

Note also, from the Telegraph

"Bidenomics is a heady brew. The Democrats’ $7.9 trillion blast of extra spending is a step beyond Roosevelt’s New Deal. It mimics the Keynesian expansion of the Second World War and consciously aims to run the economy at red-hot speeds of growth.

If enacted in full, it is large enough to lift the US economy out of the zero-rate deflationary trap of the last decade and entirely reshape the social and financial landscape."

Biden is reported as leading Trump by 16 points but in order to push this through the Democrats need to overturn the Republican majority in the Senate.

[borderterrier1] 05/10/2020 16:02

new-buyer Of course it will be "interesting" as it always is. Over the last five years this has been a frustrating investment for many. Share holder value? Don't make me laugh.

[zhockey] 05/10/2020 16:01

Short mine life UK George

[casual47] 05/10/2020 11:55

UKG - there is a general fallback in goldies so would be tough for HUM to rally into that. The upcoming news flow should hopefully help.

[ukgeorge] 05/10/2020 11:50

Amazing that these are still sub 40p a price that the company reached prior to the mine being built.

Now the gold price is significantly higher, the company is nearly debt free, has an exciting project and Dugbe being moved forward. A vastly better position than in 2018.

However it looks like we are going to be stuck in the 33p-40p range for a few more weeks.