Hummingbird Resources Share Discussion Threads

[plat hunter] 27/2/2021 16:17

Looking way way oversold, RIS hasn't been this low since March 2020 year

[borderterrier1] 27/2/2021 13:45

Oh how I wish I could respond to BushyTailed the latest delusional LSE bb new investor recruit on there! BT you have the same initials as me but that's where the similarity ends. Promote away, but in a few years you'll be dragging your not so bushy tail through the mud and you will be angrily disillusioned like the rest of us. The "shareholder value" that Del Boy the experienced gold minor promised us all those years ago isn't here. But carry on, you are obviously far smarter than everyone else.

[johnhemming] 27/2/2021 12:36

I have done a bit more rummaging around for information on the sale from Goldfields and I have these links which people may find interesting.



Annual report 2014 on Sale see note 10.2


Reading in the 2019 Hum annual report (and please correct me if I am wrong) it appears that little exploration was done by Hummingbird at Yanfolila prior to 2020 (and of course 2021). However, that is not surprising given they had the Goldfields data, but not a lot of spare cash. Now even with gold at USD1.7K they have spare cash.

[deme1] 27/2/2021 10:39

border

but plat has said that this is a cert.
all the way down.

he's a playa
he knows his stuff

[johnhemming] 26/2/2021 16:09

The truth of the matter appears to be somewhere between people's views. I have been looking at the history of Yanfolila and it seems to have some consistency


It may be that the grades more recently were unexpectedly low and that expectations could have been better managed. However, Hummingbird have until recently had to do things without much free cash available.

Inevitably where things go with inflation and the POG will drive a lot of this, but to be cash positive has to be a good thing.

[dickbush] 26/2/2021 15:41

I guarantee you won't see exponential NET cash growth this year unless the gold price rockets. Absolutely no chance at this gold price.

I suggest you read the last few quarterly updates and compare Betts' comments v actual outcomes as a test of his credibility..

Resolute Mining fired their CEO in October 2020 for similar disappointment with production and AISC, and
a similarly reduced production target for 2021.

For a long time I thought Border Terrier was full of it, but he was right about Betts.

[deme1] 26/2/2021 15:18

This is possibly a buy at 12p
And even then you would have to be prepared to lose it all!

[borderterrier1] 26/2/2021 14:54

Come on suckers! It's down another 5% so it's a great buying opportunity! What are you waiting for? Fill yer boots!

[richgit] 26/2/2021 14:00

Have a say whilst you can !!!!


"Do not rollout Covid-19 vaccine passports "

Found on www.Infowars.com


Uk Gov link..........

[dickbush] 26/2/2021 13:56

chipperfrd, They are due to pay $6 mil in the 1st and second qtrs, too. My playing with numbers was to show the deterioration in free cash flow after that REQUIRED payment.

I still have, for me. a substantial investment here, but it's no good pretending that the company is jogging along happily. Even if it has to go into a net debt position to do all it plans to do this year, it's not the end of the world.

As soon as they get back to producing circa 3g/t the share price should recover. Unfortunately, after two screw-ups in the 3 years of production at Yanfolila, I believe Betts has a credibility problem. IMO it will take a few years of success for the earnings multiple to even approach those of other West African miners. The only way to get that credibility back more quickly is for Betts to go, but I can't see him falling on his sword or his board appointees doing the necessary.

[ukgeorge] 26/2/2021 13:47

Chip looking at Q3 they had cash $9M Q4 $11M
Debt was reduced by $6M in the quarter.
So + $8M, $2M came from the government.

Then there is the below, which makes me think they were cash flow negative or close to.

From Q4

"The Company recorded a net cash positive position of ~US$1.5 million at 31 December 2020*

* Includes gold inventory (1,980 oz valued at approximately US$4 million). Exclude IFRS 16 lease liabilities and quoted investments valued at approximately US$8 million."

But as Charlieeee points out until the full financials are out we will not know for sure.

Either way the share price is crashing and there is most likely something serious wrong. As this is the Aim mkt Pi's will be the last to find out.

Chip I wish I was able to be congratulating management on a great job and celebrating a multi bagger.

[chipperfrd] 26/2/2021 12:28

UKG,
Of course they were not cash negative in Q4 - they paid US$6m off their debt!

You may enjoy trashing this company at every opportunity but please stick to facts.

[doc_oj] 26/2/2021 10:11

@jb: i sincerely hope you are wrong as I wouldn't want to buy more cheaper, lol

[plat hunter] 26/2/2021 10:10

I could win the euro millions tonight too. Probably more likely than getting a bid here tbf

[jbravo2] 26/2/2021 09:50

Problem is doc, there’s still the bad Q1 figures to come, could get cheaper yet.

[doc_oj] 26/2/2021 09:45

just took some at 20.8 - I agree with all the negatives but wtf!! less than 80m mcap, happy to wait.

[nelson01] 26/2/2021 09:26

Ok sorry..... he's probably just having a bad couple of years.