Hummingbird Resources Share Discussion Threads

[scepticalinvestor] 18/6/2021 13:07

Interesting company this - looks like a good entry at these levels..Whats the story, why the constant drop?

[borderterrier1] 17/6/2021 20:13

deme1 I agree. But the idiots on here will say it is yet another "buying opportunity". Fat Grunter and BushyBetts "Fill yer boots!".......... 40 p before the end of December 2020. LOL.

[deme1] 17/6/2021 15:49

Oh boy is this in trouble.

15p within the next 2 week's imo

[golden prospect] 17/6/2021 13:02

UKG, it's been bad enough trying to let SC out - and they haven't finished. Certainly will be interesting to see how this Cassidy saga plays out, but expecting parameters to move again (discounted price, lockin %).

[ukgeorge] 17/6/2021 12:52

I'm sure HUM will catch up it normally does. Likely will be quite a fall when 20p gives way. I wonder what calamities Dan has been getting up to. Maybe he has invested in another pink elephant like bunker hill. Or perhaps the mine is still underperforming.

I also guess Cassidy Gold Corp are demanding 50M shares rather than the previous 35M, they may even want more if they have reviewed HUM's performance over the last few years.

[dickbush] 17/6/2021 08:29

Gold shares down 2 to 3% currently, except for HUM. I hope there's good news coming.

[borderterrier1] 16/6/2021 23:29

replicas1967 I'm hoping for buy out to put all the long time shareholders out of their misery. We should be so lucky.

[dickbush] 16/6/2021 23:04

I haven't read the Fed statement but it has knocked the US bond market, and the US Dollar is up 1% today. After our market closed, gold tanked circa $45. It's going to be a bad day tomorrow for gold shares.

[replicas1967] 16/6/2021 23:01

Mentions Hums disposal of shares

hxxps://www.coragold.com/wp-content/uploads/2021/06/Cora_Gold_June_Update_Note_15.06.2021_Final.pdf

[replicas1967] 16/6/2021 22:11

So ST - don’t kiss you investment goodbye
Instead kiss you shares goodbye - Sell Up man

[plat hunter] 16/6/2021 12:22

Please try harder LLB.A dispute is precursor to litigation... If that was the case then the RNS would have said so. Given that RNS's are issued by the NOMAD who serves as the companies regulatory principle.

[charlieeee] 16/6/2021 11:58

Well I had not thought of that particular possibility, PH.

What has been crossing my mind is that if a share deal does go ahead with a hostile Cassidy, then that would be a great start to toppling this atrocious BOD.

If that is the case, then it is in the BOD's own, self serving interests, to do some deal to get rid of Cassidy.

Interesting to see the original terms of the ML. So the big difference is the optional 20% buy in by the Guinea Govt, which is so punitive (as well as the 1% local fund: nothing wrong with the latter and a whole lot better for us for the locals to self organize).

[laurence llewelyn binliner] 16/6/2021 11:52

#Chip, it is indeed a PR own goal to not follow up the 25.05.2021 RNS with an explanation giving rise to unease and reading between the lines..

A reasonable supposition would be that not updating the market 3 weeks later is because the Cassidy deal for 35M shares at 28.4p is in dispute and currently unresolved...?

[plat hunter] 16/6/2021 11:27

No mention or inference of an unexpected delay, or any hint of a renegotiation. This also could be down to a new market participant who has agreed in principle to take cassidy's shares in an off book block Transaction. Again, guessing so read into it what you want."Further to Hummingbird Resources plc (AIM:HUM) announcement dated 20 May 2021, the Company announces that the admission of the 35,248,441 Ordinary Shares payable to the shareholders of Cassidy Gold Corp has been delayed for a short period. A further update will be provided as and when appropriate."

[plat hunter] 16/6/2021 11:20

Well you can't argue with the fact that no update equals guessing. That said though, on balance of possibilities, this particular unknown is more exciting than worrying.

[chipperfrd] 16/6/2021 11:16

Irrespective of the changed terms for the Kouroussa project, on my DCF model it still looks a highly profitable venture and, given the changing ESG requirements these days, looks reasonable to me.

As for the situation regarding the T/O from Cassidy - I agree with Lowtrawler regarding the lack of follow-up explanation!

[chipperfrd] 16/6/2021 11:06

Perhaps the exit from CORA is more about the strong possibility of a buyout by the largest stakeholder!

[lowtrawler] 16/6/2021 10:58

GP, yet another example of poor communication from HUM. The impression from the initial RNS was something unexpected had arisen which delayed the completion and so an RNS was a statutory requirement. Any "normal" company would have followed through within days to explain the reason for the delay and provide a heads up on when it might be resolved.

We have speculated it was coup related but we are only guessing. With coup problems abated, speculation now turns to other explanations. The Company need to keep shareholders informed and failing to communicate for 3 weeks is appalling.

[golden prospect] 16/6/2021 10:33

LLB, is this a watertight deal? A short period is now over 3 weeks.


25 MAY 2021

[laurence llewelyn binliner] 16/6/2021 10:27

#Chip, perhaps Cassidy have managed to wriggle out of the 28.4p shares deal and now want paying in cash instead..? a GPB10M/USD14M initial consideration ..

Something looks to have materially changed tho triggering the RNS 25.05.2021

[plat hunter] 16/6/2021 10:25

Is it... HUM and Betts have always been clear about fully exiting CORA ever since the maiden listing with HUM as majority investor.9% of sweet fa, sold to cover 20% of 100k a year asset. No brainer to me.

[plat hunter] 16/6/2021 10:23

It's not an issue, even paying off Cassidy for full value over 2-3 quarters is still circa 30% better than their 28p and without a lock in.It's simply absurd to insist that HUM are struggling with cash or hold a weak bargaining position.