Hummingbird Resources Share Discussion Threads

[dickbush] 21/4/2021 08:19

I thought the report was a definite positive. Gold poured no worse than 4th qtr, and ditto AISC. Forecast of 100-110,000oz retained, meaning an average of 26-29,000 ounces per qtr for the last three qtrs. Given the expectation of production inceasing as the qtrs roll by, we must be looking at 30,000 oz at least by 4th qtr. I still hope that, after last year's fiasco, the forecast is conservative.

I am, obviously, pleasantly surprised by the net cash position (inc gold) increasing by $3.4 mil. On a net gold price of $294 and gold poured of 22,019 i.e. a net of $6.47 mil, that's amazing...well, to me, anyway.

[sleveen] 21/4/2021 08:18

Agree PH.

Repayment of $8.6m debt with about $6.5m free cash generated from operations ie that's after tailings dam & drilling cap ex.

(POG $1788 - AISC $1494 = circa $300/oz free cash flow)

[laurence llewelyn binliner] 21/4/2021 08:17

A poor quarter for ounces, and equally poor AISC, slight improvement on Q4 and hopefully the worst quarter is reported now..

Main takeaway is the cash position is now zero, previously +USD11M having now all been used to pay down the debt, and operating costs with inventory static..

So at a 1500 AISC, the company is not making any profits at all, having not added to the cash or inventory position to offset funds used for the debt repayments..

Effectively debt free now with the +cUSD4M inventory in hand, but the AISC is once again the Achilees heel and has to come down to generate any meaningful profits..

[jbravo2] 21/4/2021 08:14

You're moaning about the accuracy of others?
:D

[plat hunter] 21/4/2021 08:10

You are right John, as it's reflected in Q1 as expense it will further dilute the AISC over the following quarters. AISC and production expected and well reported with a circa 200% growth in Net cash and will double again through Q2.The trolls narrative of being loss making for q1 has come undone, how much respect do they hold now going forward?

[ohisay] 21/4/2021 07:59

Cant agree with that last John ..Rarely that effective and a decent growing company would hopefully find better use for its capital.

[johnhemming] 21/4/2021 07:51

I am quite happy with the report. I have experience running various sorts of organisations in the private and public sector and may be more sympathetic to the challenges faced by management than others.

If they need to spend money on the Tailings Storage Facility then that has to be done. It has counted against Q1s AISC, but will be used practically for a number of years.

Companies should not skimp on how they handle tailings.

What I would like is for the company to use spare cash to buy shares in the market which increases the proportion of the company held by continuing shareholders.

[sleveen] 21/4/2021 07:46

Almost 23k oz produced; better than I expected (20k was my expectation)given the negative Q4 update.

Q1 the worst performing qtr, steady improvements over the next 3 qtrs relating to production and AISC.

Potential good news on the drilling/resource front soon.

Civil unrest in K, that's normal in Africa look at Mali more than civil unrest there and Mali is now back to normal.

I expect a blue day.

[ohisay] 21/4/2021 07:12

Yes neutral to positive with grades a little better than last quarter and full year guidance reiterated .
And more debt paid off ..

And all that in the light of gold revisiting 1785 this morning .

[bishan bedi] 21/4/2021 07:07

I'd say that update reads neutral to positive and the lack of any banana skins must be a surprise to the upside; perhaps they are saving them up for a super q2 sundae...

Good to see a COO being brought onboard.

[lowtrawler] 20/4/2021 22:33

The problems at Kouroussa would likely have been handled better by other miners. It is a known problem in Africa to grant licenses over land traditionally used by artisanal miners. There is usually a lengthy lead-in period where local communities are briefed, supported and and brought onboard. To have got to the state described in the news article, a ham-fisted approach must have been attempted. I know that HUM management does not have the best reputation but it puts them under a microscope.

The only positive thing you might say is that if we have to walk away then it is before we spend significant sums on the location. Frankly, I think it would be unwise to continue targeting Kouroussa and we should move on. Deaths and this level of animosity would be difficult to ever fully recover from.

[borderterrier1] 20/4/2021 18:27

Of course BushyTwerp. Yanofailure is doing really well, isn't it? LOL

[golden prospect] 20/4/2021 17:06

2021 production guidance of 100,000 - 110,000oz of gold
Gold price today $1778/oz

Should be a year of great cashflow, despite all the noise.

[plat hunter] 20/4/2021 16:44

And bounced off the 2nd deviation, scripted...Https://www.tradingview.com/x/m04wV9yL

[deme1] 20/4/2021 16:36

more like 0.023p on the bid this week

You sure know how to pick then Plat

PLAYA

[plat hunter] 20/4/2021 16:32

Lol Dan... I'd say your reading skills are somewhat lacking. How's Kabwe coming along?Try looking at the trading range, there's loads of beta. I've just done 8% a go for the second time in as many weeks and got some more at 20.5 today for another goIf that's losing then I'm fine with it. I'll be here for another 4 years I reckon. Check out CEY too, loads of liquidity, no stamp, you can bag 2-3% over there in a couple of hours almost daily. Do you know what an ATR is?

[danieldanrichardson] 20/4/2021 16:15

I did read up on this Plat. Thankfully, I didn't pull the trigger. What would Krypton say now... 'timber' ?

[chipperfrd] 20/4/2021 16:10

Another problem for HUM to deal with!

[plat hunter] 20/4/2021 15:16

Social disobedience in Kourrousa.Artisanal gold miners have barricaded the city and driven out officials

[chipperfrd] 20/4/2021 12:35

Thanks GP - appreciated :-)