Hummingbird Resources Share Discussion Threads

[goodgrief] 27/10/2020 15:33

Just caught up with the VOX markets and Blythweigh interviews. And the announcements from Pasofino and Bunker Hill. Thank you rt and rh.

Taking into account gold on inventory, we're net debt zero. Doesn't seem that long ago we were saddled with huge loans! Looking forward to next set of exploration results from Yanfolila and Kouroussa. He mentions dozens of hits with grades approx 10 g/t.

This is definitely a strong hold... that's an opinion backed up with some pretty strong evidence. LOL.

[rickyhatton] 27/10/2020 14:48

Bunker Hill announcement

[roguetreader] 27/10/2020 14:42

Pasofino Gold Dugbe Exploration Announcement:

[dickbush] 27/10/2020 14:13

Cinoib I'm not complaining just pointing out the facts. If you don't like it you can easily eliminate my input.

[ukgeorge] 27/10/2020 13:19

Well you will likely have 90 days before the next update so I wouldn't be in a hurry...

[plat hunter] 27/10/2020 13:08

False alarm... was only looking at the range on here and just presumed i would have been matched.Alas I haven't yet.

[squash90] 27/10/2020 12:02

Can't see any 36.50 trades

[plat hunter] 27/10/2020 10:43

Finally got 36.50, thought I'd missed the boat for a top up.Onwards and upwards now please.

[chipperfrd] 27/10/2020 09:01

Cinoib,

Just for the avoidance of confusion: the reference to CORA in your post should have been CGNR.

[rickyhatton] 26/10/2020 17:13

DB very bullish going forward. Dugbe could be HUGE 10moz+++ multi mines.
Says HUM is mow "tremendously undervalued" with all the multi jurisdictions being developed,with Q4 Yanfolila back on track for target AISC

[laurence llewelyn binliner] 26/10/2020 17:06

#Zhockey, if you use the previous 5 quarters AISC prior to CV19 impact as an average we get 908/Oz..

Q2-2019 / 27,466 Oz poured / AISC 998
Q3-2019 / 30,484 / 849
Q4-2019 / 33,892 / 839
Q1-2020 / 30,282 / 875
Q2-2020 / 24,054 / 983

Use any 4 quarters we get an average of c120Koz a year (or 10Koz per month)
Use todays Q3 sale price of 1919 we get an EBITDA margin of 1011/oz..

So we will have pretty much USD10M a month EBITDA when we get back to nearer normal with costs, simply double it by adding in Kouroussa to get USD240/250M, with nothing added for Dugbe..

POG is not going anywhere but up in the next 2/3/4/5 years with the next FED stimulus getting closer diluting the dollar (again)..

#Plas.. good to see you in here, its been a while... :o)

[aimsurfer] 26/10/2020 16:43

There were unhappy people at 20p, 30p, 40p, next year people will be unhappy at 50p, 60p :)Too many want quick spikes to move onto other shares.Interesting slide in the Q3 presentation, 2025 vision of >350-500k oz. How many people will be around for that I wonder :) Murray Paterson confirmed they are currently reviewing additional opportunities. Another Kouroussa type deal would be nice. Dugbe could be a real surprise here, Pasofino are not hanging around. Drilling starting in November.

[plasybryn] 26/10/2020 16:26

Look at it this way. We are lucky to be able to buy in the mid 30's due to fickle short term traders who aren't interested in understanding the inherent value here. Even Dan in his interview was frank about the undervaluation and the need to address that issue. This time next year today/s price will no doubt seem an unbelievable bargain.

[backmarker] 26/10/2020 16:22

Q3 reasonable, given the circs. I'll buy the story for now.

it's good they are almost debt-free, so should be able to fund future developments from income, I hope.

any prospect of a dividend in 2021 ?

chart now at a critical point. I'm hoping today's small fall is a retest of the uptrend line, before rising through resistance and breaking up out of the wedge formation.

I can see a scenario where further evaluation of Q3 and all the prospects will encourage some buying during the week, leading to a new upswing and new shortterm highs.

[andrewsr] 26/10/2020 16:21

DB gave an EBITDA of $250m (with Kouroussa in production) in his interview today, but you need to deduct the government free carries, so about $215m net to Hum. It doesn't mean it's half that now in view of Covid, rains etc.

[dickbush] 26/10/2020 16:06

Cinoib, the worst part of the announcement was not the production, it was the AISC which has led to the company suggesting its forecast for the year may (will) be adjusted (upwards).

As I said above. I'm in for the next two or three years. So, I'm not that bothered. It just would have been nice to see better results and a run up rather than down.

[zhockey] 26/10/2020 15:13

How did you get to 250M EBITDA?

By that logic they should be about half that today, but are they?

[qs99] 26/10/2020 14:28

Agreed LLB, the dip is nuts given the potential

last quarter had a bloody great big coup in it ffs, let alone the rain, what were people expecting?!!

Have topped up accordingly

DYOR

[laurence llewelyn binliner] 26/10/2020 14:05

I see DB agrees with my earlier observations from the RNS.. :o)

The progress made during Q3 is masked by the poor on face value headline ounce numbers mined/sold, given the challenges of the quarter the team have done a stellar job, the bigger story is in the deleveraging, drilling, LOM extension to come, Kouroussa should be 100% funded from FCF and the journey to building a 225/240KOz multi mine company in just 18-24 months from now is underway, resulting in a USD250M EBITDA business with 51% of Dugbe on top...

Another point to note is our BH loan has now fully converted to stock, so we own somewhere around 10% of the company, and the II ownership update is pending there.., we also own 12.25% of CORA adding to future project pipeline potential..

[ukgeorge] 26/10/2020 13:41

Likely be time to add some more shares in the next few days. The main takeaway is that deleveraging continues and Q4 should be good.

In the Vox interview Dan mentions mining of a higher grade area in Q4 that couldn't be mined in Q3.

[aimsurfer] 26/10/2020 13:27

Facepalm :) Maybe use cash to fund Kouroussa?

[andrewsr] 26/10/2020 13:04

Dan on Vox