Hummingbird Resources Share Discussion Threads

[dickbush] 04/2/2021 10:25

john hemming

Below are the terms of mining agreements in Mali. All I could find, anyway. Translated by Google from the original French. Just the key points.

11.1 As soon as the permit or the operating authorization is granted, the holder will initiate the procedures for the creation of an operating company, in which the State will hold a stake up to 10% completely free and considered as priority actions.

11.2 In the event of a capital increase in the Operating Company decided by any General Meeting, 10% of the new shares will be allocated under the same conditions as those referred to in Article 11.1 above to the State in order to allow it to keep its free participation percentage.

11.3 When a net accounting profit is recorded by the operating company, the latter will deduct from the distributable profit, that is to say the profit for the year less previous losses and deductions for constitution of legal reserves, payment of corporation tax and increased retained earnings, a priority dividend that will be paid to the State. This priority dividend, the rate of which will be equal to the free participation of the State in the capital of the operating company (10%) will be paid to the State before any other allocation of distributable profit.

11.4 The State has the right to acquire an additional participation of 10% maximum in cash, which will not be taken into account when determining the priority dividend rate.

I guess we would have to ask the company if the $2 million payment in the 4th qtr completes the payment for the government's second 10% or what the government's percentage is currently, including its free 10%.

[plat hunter] 04/2/2021 10:24

Easily explained, they're trading or accumulating. The market size is tiny here and they think it helps rather than just being honest.50 million a year on a 100 mill mcap. very worst scenario in share price terms...mcap will be covered by cash at hand inside 3 years.

[edmundmorrison4] 04/2/2021 10:07

All in all the update was solid. There is plenty of potential and upside here, this will just require patience to harbour returns. The concerns about management from some of the posters here seem odd and would merit further explanation if are to be taken seriously.

[goodgrief] 04/2/2021 09:58

CRUX Investor interview with Ian Stalker of Pasofino on Dugbe.htTPs://www.youtube.com/watch?v=LDucke77jvE&utm_content=153211504&utm_medium=social&utm_source=twitter&hss_channel=tw-1055427799618674688

[nelson01] 04/2/2021 09:53

Kenny if you think this is getting taken out for 40p then your dafter than plat Hunter. It's a dog of a share. Better to get out now than letting your money slowly erode here.

[ukgeorge] 04/2/2021 09:47

Kenny a takeover is sadly unlikely imo. The mine is to small and has too many issues.

All I am hoping is that they have decided to massively under promise so they can for once hit their targets and no doubt receive some outlandish share options.

One of the many worries is that they were meant to be heading into a high grade area and instead it is the opposite.

I'm very thankful that I sld most my shares a few months back.

[kennyp52] 04/2/2021 09:41

Lol nelson .. leave Plat alone 😴

Fundamentals are fine ... it’s the management I worry about and they can be removed in a takeover so that can help the price reflect the underlying potential . I’d expect 40p+ bid to be taken over . That would do me . Lot of value for 40p

[sleveen] 04/2/2021 09:39

Ed

Yes it does.

I was about to post the same info.

It will likely impact the AISC for Q1 2021 too.

[nelson01] 04/2/2021 09:33

Market cap is way to high for a company run by crooks and AISC that high, if the gold price dropped a few hundred $ they would be bust. Horrible fundamentals.

[edmundmorrison4] 04/2/2021 09:25

'Q4 2020 running into Q1 2021 gold pour has been impacted by lower production from one section of KE (KE1) which will be fully mined this period. See maps below for more details on KE'Could the above explain the higher AISC for this period?

[plat hunter] 04/2/2021 09:18

Kenny, 100% a T/O here, whilst HUM might not publicily say so, VEIN do

[kennyp52] 04/2/2021 09:17

BT1 .. what is your exit price ? I can only really see a takeover or new management lifting this share price given the same people have been in charge througout . The frustration is the resource and potential but I just wander what is taking the AISC up .. you reckon there are some juicy fees in there for connected persons ?? When you are hitting target production and POG has risen so much YOY the RNS stinks to high heaven . Hope I’m wrong but only a small holding so just looking to exit now .

[plat hunter] 04/2/2021 09:13

Agree John... I've seen it over in CEY too, people speculate on gold stocks for the future gold price then sell on a historic AISC costsIt's truly madness imo

[johnhemming] 04/2/2021 08:37

Plat Hunter - coming back to the AISC question. I think the real issue is having a single figure and not understanding what is investment for the future and what is essentially the costs of extraction and processing. Hence the really high figure for Q4 has freaked people out a bit.

[avsome1968] 04/2/2021 08:29

Looking at the chart with gold price bearish hum could test 25p.

[daocana] 04/2/2021 08:24

theres alot of uncertainty here ..sp sitting right on top of the 2yr bottom trendline..with AISC well over $1400oz i feel at this moment in time hum are going to need the gold price to make a run for new highs..for its share price to recover.lets see if the bottom trendline holds holds. sell if it breaks..27.50p

[danieldanrichardson] 04/2/2021 08:16

Morning Plat ;)

[edmundmorrison4] 04/2/2021 08:03

Norm,With respect to do not know that the grade is dropping.The AISC contains a number of costs, a lot of which are unrelated to mine deterioration. It would be helpful if the costs were broken down so we could understand why the AISC has increased.

[nomz] 04/2/2021 06:14

The AISC is high because the grade is dropping. They have to mine more to get the same amount, and even then they are failing to meet target. A grade drop over a sustained period of time indicates something fundamentally wrong with their resource.
I'd like to see a graph of monthly forecast grade vs actual for 2020.
Magically bringing the grade back up again is pie in the sky

[borderterrier1] 03/2/2021 23:30

Laptop15 Perhaps because Daddy set his incompetent son up in a business that the he had no experience with and he hadn't got a clue what he was doing? Even worse, perhaps he micro-managed the others who actually did? It called narcissistic syndrome. Please see question 2 above.

Just glanced at some of the posts on the LSE bb from other disgruntled investors. My, my Danny Boy! If you ever had aspirations to be a successful mine developer, the posts on there should convince you that now, after 5 miserable years, with seriously pathetic "shareholder value" you have well and truly blown it. Time to do the honorable thing and step down, because IMO you've stepped up into the Hippo doo doo big time and you will never, ever have credibility with anyone here again. Say goodbye gracefully and let someone else steer this rapidly fast sinking ship. You've blown it, Del Boy, BIG time.

[laptop15] 03/2/2021 23:07

Why is the AISC so high here??

[tonyevo256] 03/2/2021 22:14

This was on my watch list, but I never really looked at the fundamentals until today. Why is the p/e so high what's attracting the investors?

[borderterrier1] 03/2/2021 22:04

Tonyevo256 I agree. But there is no shotage of gullible investors who believe the Hype and Bull. So, here a few pertinent questions for all would be investors before they take the plunge here. They are all legitimate, legal questions I might add:-

1. Look at the 10 year chart. Who was the Ceo then?
2. How much actual mining experience does the current Ceo have?
3. Who prepares the accounts?
4. How many Betts family members are involved?
5. How many have skin in the game?
6. Who refines the ore?
7. Why are the big investors pulling out?