Hummingbird Resources Share Discussion Threads

[johnhemming] 31/3/2021 12:03

The point about bond yields in the USA, however, is that real and nominal yields have diverged. That has not yet fed into everything else.

[bikwik] 31/3/2021 11:59

So sorry guys to bang on about US interest rates....plastering the board will all this stuff. But it does have a direct bearing on the gold price and thus the price of Hummingbird.

[bikwik] 31/3/2021 11:55

The other thing to bear in mind is that Jay Powell CAN NOT allow US interest rates to rise because the US DEBT load is too massive to let that happen. Starting the US on an early path to bankruptcy is not on his agenda......well not yet anyway. I say that because US interest rates WILL rise once the inflation genie is clearly out of the bottle. The Fed will not acknowledge there is a problem YET because it doesn't want to spook the markets. Note that Bill Gates has already DUMPED a lot of his stockmarket positions. The smart money is smart!



The CRB index has already signalled a new multi-year bull market by the very strong rebound over the last year which PUNCHED its way through most of the four years of sideways ranging between 2016 and 2020. Note also this was a head and shoulders BASE which failed on the downside.....true after quite a drop. BUT this is good because this has created the set up for a very strong multi-year bull market. Here's the chart:

[bikwik] 31/3/2021 11:33

So going back to 2013 when the yield was as overbought, the gold price was then in its nasty bear market back down from the 2011 high of $1920. BUT from the end of June 2013 when the yield starting correcting - essentially going sideways for 3-4 months - gold went from $1180 to $1434 in just over two months. That was a rise of 21%.

Also the overall trend was DOWN. Now the overall trend is UP (albeit seeing this significant corrective phase).

So I put it to you and all those f....g b....d hedge funds that we are on the verge of an about turn in the gold price. Once again I don't know what day it will TURN but it must be very very close now.

[bikwik] 31/3/2021 11:26

Now look at the daily chart of the yield. Notice the BEAR divergence on the overbought RSI since the end of February - warning of a tired uptrend and likely correction lower.

[bikwik] 31/3/2021 11:23

What is also very interesting AND which should have a direct bearing on the direction of gold is the US 10 year Treasury yield.

As we all know the steady and more recent accelerated rise over 1.50% was a great excuse for big hedge funds and the like to add more and more gold shorts. So when that yield starts to falter then go back down for a while, that will be a reason to cover shorts and start going long. That will clearly help all gold stocks.

So now what do we have - the 10 year yield has got the most overbought since end June 2013. You can see this on the weekly chart from stockcharts.com (Look at the RSI at the top)

[plat hunter] 31/3/2021 10:55

I do BIKWIK, I managed to add a few today too on that.Not too many though and they'll likely be sold off when they hit the upper band. An opportunity to trade around the position shouldn't be missed.

[bikwik] 31/3/2021 10:36

Well chaps, I see what is going on here. Tax loss selling is coming to a head here, not just in HUM but other gold stocks. Good opportunity to reduce tax bill in portfolios with gold stock losses.

That explains the chart pattern in HUM this month, in particular todays dip under 20p.
This move should not be sustainable beyond today and tomorrow, the last trading day of the current tax year. That sets the pattern up for a downside failure.

Two other things.....note where we are on the chart vis a vis the bollinger band - Platty you'll understand this.

Plus this week is a Fibonacci 34 weeks from the August high. That also applies to gold - 34 weeks from the $2075 high. Gold has now got numerous technical reasons to start its recovery next week. Still trying to call the bottom is exceedingly difficult! But there you have it. Just need all those big money players in the US to get the message and switch from the short side and go long.

Apologies to napoleon 14th...chart coming up:


free stock charts from uk.advfn.com

[johnhemming] 31/3/2021 10:30

I think the loan is going to be fully paid quite soon. It is worth noting that in one of the presentations they were talking about buy backs. I like buy backs personally (as long as they are at a good price).

[plat hunter] 31/3/2021 10:26

A few more for me, current average now 24p and very happy with that.

[danieldanrichardson] 31/3/2021 10:08

Morning Plat ;)

[polaris] 31/3/2021 09:38

They will not be able to do that until the loan is fully paid. It is usually in the fine print of any bank debt. Once paid back and the board believe that progress is sustainable then it should be a question for discussion, at such a depressed share price

SC will eventually have no shares left to sell. That will only become apparent when any small rise isn't sold into. Looks like we are not there yet.

[plat hunter] 31/3/2021 09:35

Hobson's choice...Need Kouroussa licence, but also don't want the accomoanying dilution whilst the share price is 40% cheaper than it was.

[johnhemming] 31/3/2021 09:27

Well it would be a good time for the company to use some of their cash to buy up stock.

[dickbush] 31/3/2021 09:00

Ouch! 19-20p. Looks like someone has had enough.

I note that Resolute had to reiterate its guidance this morning, having been trashed by its announcement that it isn't going to get $105mil from the sale of a mine in Ghana.

[borderterrier1] 30/3/2021 14:06

Plat Plonker In answer to your question. No, I am definitely NOT adding,why would I? Only idiots like you would do that. Oh Nooooooo! Down 5% on good news I see and another pearl from BushyTailed:- "this has been a slow burner for 8 years". Noooooo! Really? To continue:- "When it finally does go, anyone in at anything under 40p will do very well indeed." Yaaaawwn, yes, of course BushyBuffoon...... anything you say.

[dickbush] 30/3/2021 12:37

Many thanks, chip.

[chipperfrd] 30/3/2021 10:47

John Hemming,

I run a table of UK-listed PM stocks in the header of my 'CHIP' thread. The above table is pasted from data collected for that table.

All resources are collected from reported MRE by RNS or stated on company websites.

EV (US$) is generated for each stocks based on a DDE download from ShareScope every weekend giving all closing prices. Net cash/debt is collected periodically from company FRs or Stockopedia/SharePad. Likewise current shares in issue.

All data is held in a large Excel workbook using common formulas throughout.

Chip

[plat hunter] 30/3/2021 09:54

GDP is a very interesting one, watching that closely

[johnhemming] 30/3/2021 09:51

Thank you for that. Could you tell us please where the source is of that information. It helps to know how the calculation is done and what the values used are.

[chipperfrd] 30/3/2021 09:32

Comparison with other UK-listed stocks
Sorted on cheapest AuEq oz.

Ev / All resources (US$/AuEq oz)
EPIC . Ev/oz . Stage
KRS ...… - ….. 2
OMI ...… - ….. 1
ORR ...… - ….. 1
TTAU ..… - ….. 1
ARS .… 3.4 ….. 4
SOLG … 8.7 ….. 2
ALTN … 8.9 ….. 6
PAT … 12.3 ….. 2
PAF … 13.5 ….. 6
HUM … 16.0 ….. 6
GDP … 17.8 ….. 6
CGH … 21.0 ….. 6
RRR … 21.6 ….. 2
CGNR .. 27.7 ….. 2
KEFI .. 27.8 ….. 3
RMM … 28.5 ….. 6
CNR … 32.6 ….. 4
GAL … 32.7 ….. 6
PERE .. 32.7 ….. 6
KAT … 40.0 ….. 1
ROCK .. 40.4 ….. 2
SHG … 43.3 ….. 6
LND … 43.5 ….. 2
XTR … 47.0 ….. 2
RSG … 49.2 ….. 6
SRB … 50.8 ….. 6
PXC … 50.9 ….. 2
AAU … 51.2 ….. 6
CORA .. 66.8 ….. 2
VAST .. 70.7 ….. 5
CNG … 79.0 ….. 6
TSG … 80.5 ….. 6
HOC … 84.1 ….. 6
GRL … 84.7 ….. 2
POG … 91.6 ….. 6
CEY .. 119.9 ….. 6
MTL .. 121.8 ….. 6
CMCL . 149.8 ….. 6
AAZ .. 160.2 ….. 6
FRES . 193.7 ….. 6
PUR .. 194.2 ….. 5
POLY . 216.6 ….. 6
SGZ .. 268.6 ….. 6
EUA .. 614.7 ….. 6
GGP .. 805.7 ….. 2

Stage: 6 = Production, 5 = Construction, 4 = BFS done, 3 = PFS done, 2 = Resource established , 1 = No Resource

Chip

[dickbush] 30/3/2021 09:20

Agreed. I guess some will be concerned that the total resource has declined by 74,000 ounces. For me its a qualitative improvement and finding 255,600 ounces with just $5mil of exploration expenditure is impressive.

Still no news on Kouroussa licence.

[plat hunter] 30/3/2021 07:48

Good update

[temujiin] 30/3/2021 07:14

Another good couple of years of LOM added with the discovery of 255,600 ounces from just a $5m drilling campaign.

Given they are going to have a $10m drilling campaign this year it's reasonably safe to assume we can expect a few more years to be added to LOM at the end of that. Also given HUM have little debt this is very positive for shareholders
=========================

Mineral Resources Estimate Update at Yanfolila, Mali

Hummingbird Resources plc (AIM:HUM) is pleased to announce an internal Mineral Resource Estimate ('MRE') update for The Yanfolila Mine in Mali. For release details with graphics, please follow the link here:

2020 MRE Highlights:

-- A total of 255,600 ounces ('oz') of gold were discovered during the 2020 exploration programme across three key deposits

-- The 2020 exploration programme of $5 million had three key focus areas

o To add additional resources to show the ability to extend the mine life and test new greenfield targets

o To improve confidence in the Company's mineral inventory by infill drilling within the pit shells

o To reorganise the Company's MRE database to include increased JORC reporting

-- The 2020 exploration programme was successful in meeting these objectives

[johnhemming] 30/3/2021 07:10

The MRE is out as well