Hummingbird Resources Share Discussion Threads

[plat hunter] 24/6/2021 09:36

Agree lowtraler but that doesn't negate the requirement for common sense and opens the doors to absolute fantasy.What I posted, whilst a guess is a lot more realistic than implying the delay is down to a useless bod ot that an insolvent company is pulling hum over the coals.One must always consider the facts before attempting yo read between the lines, and fill in the gaps. A particular skill that appears to be somewhat lacking here, despite previously sensible posts from the very same contributors.Perhaps the depressed price is starting to weigh on their emotions??

[lowtrawler] 24/6/2021 09:24

PH, the reality is nobody on this board knows what is happening and so it is opening up speculation. The HUM Board could have nipped speculation in the bud by providing an update. The speculation and lack of news has led to a weaker share price.

The fact that our price has weakened would suggest that the market considers eventual news on Kouroussa will not be positive. However, the market tends to treat anything unknown as negative - it's why well run companies provide constant communication.

[laurence llewelyn binliner] 24/6/2021 08:18

#Golden Prospect, indeed, how many they could hoover up sub 20p is a little more uncertain, unless a deal is done with SC for their 7M and we do not know about it until it is done and see an RNS, open market buying of any volume and prices would start to run away pretty quickly, or perhaps they have been hoovering up already..? I guess we will have to wait and find out ... :o)

[plat hunter] 24/6/2021 08:17

Time for a sensible post, the loonies are getting too excited.Cassidy have zero bargaining powers the deal was done and the ML issued. Any notion that cassidy is the baller here and can demand new terms by simply clicking their fingers is nothing short of naive. It's much more likely and reasonable that hum wish to extend settlement, to further negotiate their interest. Remember's who's debt free, making cash and who's insolvent here... My money is on a HUM negotiating cassidy out of their royalty interest, which would also justify the delay is comms on the matter.New terms means, new negotiations, new agreements, lawers and executions. Good luck getting it all done over a few days.

[golden prospect] 24/6/2021 08:08

Awaiting news re 35,248,441

[golden prospect] 24/6/2021 08:03

LLB, i like the idea of combination of cash and shares(28.4p) and 100% lock-in

If the company can acquire some sub 20p (say SC shares) and pass on then great.

[laurence llewelyn binliner] 24/6/2021 07:45

#Golden Prospect, I hope we get an update soon, clearly the uncertainty is hurting the shape price...I have been here since well before the pit wall collapse, the bridge washout, and watched the junior inexperienced BOD mature, but have to say a 4 week delay after an unsettling RNS 25.05.2021 is not the greatest strategy to protect the SP, unless they can use it to their advantage, which they could now in respect to settling Cassidy with their 28.4p shares bought in at 18/19p.., whether that comes to pass is anyone's guess, but trying to read signals in advance and add (or not) is how we build in profits.. :o)

[golden prospect] 24/6/2021 07:27

LLB, thanks for your thoughts in #5134 - appreciated.

[borderterrier1] 24/6/2021 00:46

Temujiin No, unfortunately. Why? Because it wasn't announced. I already pointed this out on a previous post 10563.

Plat Hunter. Statistics prove that 72% of private investors lose money on the stock market, mainly because of the completely misleading "information" that is dished out by the companies to entice gullible investors. This is a prime example of that. Oh look! BT is right yet again! Out come all the idiots with the "buying opportunity" rubbish. Won't be long before this is back down to 12p guys. Fill yer boots! It's a bargain! Again and again and again and again...........yawn...

[dickbush] 23/6/2021 22:39

It's under Documents and Circulars. Really helpful.

[temujiin] 23/6/2021 21:33

Third post, can anyone point me towards where the company announced when the AGM would be held, and what the resolutions were?

Thanks

[temujiin] 23/6/2021 21:05

Just catching up with the posts. Not sure what all the speculation about Cassidy is about as on the 1st September, 2020 Hummingbird RNS's the following

Completion of the acquisition of Kouroussa Gold Project

''Further to the Company's announcement on 26 June 2020, Hummingbird Resources is pleased to announce the completion of the acquisition of the Kouroussa, with ownership now FORMALLY having been transferred from Cassidy Gold Corp ("Cassidy") to the Company.

The Company is now awaiting to be awarded the mining licence for the Project. Once awarded, the Company will pay the initial consideration of £10 million, which will be satisfied through the issue of 35,248,441 new Ordinary Shares in the Company at a price of 28.4 pence''

From that I read the deal is done, there is no re-negotiation that Cassidy can instigate that is detrimental to HUM. It's too late for Cassidy to change the deal. as above re Kouroussa because 'ownership (has) now FORMALLY having been transferred from Cassidy to the Company'.

The only possible issue I can think of (and I don't think it holds water) is that the wording says
'£10 million, which will be satisfied through the issue of 35,248,441 new Ordinary Shares in the Company at a price of 28.4 pence'.

Is is possible Cassidy are saying that the share price isn't now 28.4p so they want £10m worth of shares at the current SP? I don't think this holds water as in theory then HUM could have said they would give less shares when the share price was higher than 28.4p and further more the terms specify exactly the number of shares to be awarded, ie 35,248,441.

[plat hunter] 23/6/2021 20:30

If and it's a big if but if the bride is being prepared then what price would people expect?Just for fun

[laurence llewelyn binliner] 23/6/2021 19:52

#Golden Prospect, IMO HUM / Cassidy are now in dispute over either the share issue price of 28p or how they get paid their GBP10M/USD14M for Kouroussa, could also be something to do with the 2% NSR or the deferred consideration, it is possible that a clause in the terms, the ML or the Coup events have given opportunity to reopen negotiations or for either party to take a step back..

Liquidating the CORA position hints towards a cash settlement in the offing, but if BH comes next that would be another cash indicator, we could be clearing the decks for a T/O but we can only speculate, after the last RNS 25.05.2021 something has clearly not gone to plan..

[golden prospect] 23/6/2021 19:11

Thanks JH.

Recall:

Please note that as shareholders will not be able to attend this year’s AGM the Company is proposing to allow shareholders the opportunity to raise any questions or concerns arising from the business proposed to be conducted at the meeting. Please submit your questions to the Company in advance, and by 2:00pm BST on 18 June 2021, by emailing Kat Perez at [e-mail]. Questions received by verified shareholders within the time prescribed will be addressed in a Vox Markets Q&A podcast, which will be made available on the Company’s website following the AGM.




I hope someone raised the "K" question, are shares to be issued @ 28p !

What are your considered thoughts on the current circumstances ?

[plat hunter] 23/6/2021 15:16

I don't think we'll see a buy back, I do think though for whatever reason the preferred settlement from HUM has changed to cash from equity which would undoubtedly favour a bankrupt explorer who couldn't raise the requisite funds for development.


I further suspect that the delay insettling Koroussa is down to renegotiating Cassidy out of the refiners royalty considering the very public sale of non core assets at full market prices. Bunker hill currently has my attention, if we sell down there before we get a Koroussa update then a T/O is 100% in the offing.

[laurence llewelyn binliner] 23/6/2021 15:04

#Lowtrawler, it does not look much like a buyback is imminent does it...! However, if the strategy is to ruin the share price and wait to pay Cassidy off with 28p shares bought at 18p then the BOD are going about it the right way after the last update on 25.05.2021..Failing to update the market 4 weeks later is pretty poor (so far) by management...

[borderterrier1] 23/6/2021 14:23

Fat Grunter Once again you are spouting utter garbage I see? If you "truly understood" this, why confidently predict an share price of 40p back in December 2020? NOBODY "truly understands" this, least of all idiots like you, BushyTailed and of course the man at the helm as he staggers from one crisis to the next.

This has ALWAYS been shrouded in subterfuge and B/S. Anyone else know ANY other co. that doesn't inform its sh's of the AGM via an RNS? Keep em in the dark and feed 'em B/S, it's a true mushroom mentality from the Ceo and "management".

[plat hunter] 23/6/2021 14:08

Hi John.... "The quest story?"Can I get a link?

[seadiver] 23/6/2021 14:05

Another leg down!

[plat hunter] 23/6/2021 13:05

Good old fashioned shake from the elite.


Only bankers and professional investors see the numbers that matter, jo public and gambling addicts only see what the share price has achieved before their greed convinces them to spend their hard earned on something they don't truly understand.


Only idiots and PR experts can be bullish about record indices kicking out an average of 25-30 times earnings. With regards to PR propaganda, it's all sleight of hand "look at this that's just made 1000% profit" When really you should be looking somewhere else altogether.