Hummingbird Resources Share Discussion Threads

[tigerbythetail] 28/7/2021 20:37

Weird post. Strange person.
HUM's share price is where it is for very good reasons (as discussed many times on here and not only by me).
But you would rather everybody shut up about that so you can sucker in new investors to bail you out of your losing investment?!?
OK! You might want to take a good long look in a mirror.

[plat hunter] 28/7/2021 20:33

So tiger by the tail was Border terrier all along. Knew it lolWhat a spanner, you forgot to change your account before replying you hummer.

[tigerbythetail] 28/7/2021 20:15

Hi Corrientes!
Yes, Bert Monroe used to handle communications for HUM. And they were much better back in those days!
HUM's main problems are HUM specific. Really, it's poor (aka terrible) corporate governance. Dan Betts is a dreadful CEO but because of the history of the company and because the board is a Betts family fiefdom (despite them not actually owning that many shares) he is unsackable. The institutional investors who might have applied pressure for change have instead given up and sold out. And the company can't be taken over by a hostile bidder as there is actually very little public information out there which would allow them to put a price on HUM. So it's Dan Betts to the end - despite him being the corporate equivalent of one of those rich boy F1 drivers who line up at the back of the grid and regularly crash out at the first corner (think Crashtor Maldonado).
This is the basic reason why the share price is so low - yes, it is truly cheap in comparison with its peers, but it's cheap for a very good reason.
I don't really "do" gold explorers, but CORA should be judged entirely differently from HUM.
I'd recommend reading the news on Mali regularly. Country risk is real and it has increased substantially over the last year.

[johnhemming] 28/7/2021 20:09

If you wish to assess debt financing think about the lender's priorities.

[johnhemming] 28/7/2021 20:09

If you wish to assess debt financing think about the lender's priorities.

[plat hunter] 28/7/2021 20:04

I saw the interview and noted the response, thank's for taking the time to table that question Timujin. That and Dan's response was the highlight of what was also probably the best HUM video interview I've seen in a while.

[temujiin] 28/7/2021 19:47

I asked DB via Vox if Kouroussa would be all debt financed. He said probably not as they would likely be a cash eminent. Thats the CEO on video record.

Anyone suggesting equity has imo absolutely zero evidence or even good speculative reasoning to justify it.

[borderterrier1] 28/7/2021 18:49

Goldenfred. You are very welcome

jongreenfingers Obviously, you are one of the new "investors" that think (at the moment) this will re-rate and you will make a fortune.....just like the management are making...at the expense of the SH's. Good luck here. You'll need it.

[laurence llewelyn binliner] 28/7/2021 18:42

#Polaris, it would be very disappointing to see any new equity, and I do not expect any either, I think DB has been quoted as saying no equity too somewhere in an interview..?

To hit the reiterated AISC outlook of 1250-1350 (1300 +/-50), with Q1 at 1494, Q2 at 1386, Q3 needs to be 1300 (with c26,500 ounces), and Q4 at 1200 (with c28,500 ounces) to give us a 1345 AISC and hit top end of the range..

End of Q2 starting cash position +USD 12.4M (working capital)
If POG holds up at around 1800 we could generate:
Q3 FCF of USD 13M
Q4 of USD 17M
If 2022 generated USD 60M we could just about build Kouroussa with a good overdraft facility for working capital, and 60/90 day invoice terms..?, but we will have a company plan outlined soon to see where we are heading next..

Good to see Anthony has his feet under the desk at Yanfolilla, and he is using words like optimising, sustainable, ore body control, incremental improvements, predictability and discipline over costs ... :o)

[golden prospect] 28/7/2021 18:42

HUM volume today (28/7) a very healthy 5m

Probably a sign that SC are cleared
(they had 9,153,454 early May)

[charlieeee] 28/7/2021 18:41

Whilst there is the requirement to start the mine build within 12 months, that is not necessarily when the "heavy" capex spend will start.

Just by looking back at the accounts, it can be sen that re Yanfolila, the early build was not a major cash drain, as it consisted of activities such as site clearance.

The whole finance package could be made up of many components, such as credit terms from the suppliers in order to secure the business.

As the company does not have the monthly debt to repay, it can get a better average price for the gold by selling on the highs and holding on the dips (to a limited extent)ie it is not forced to continuously sell.

It does seem far too early to be pushing the placing theory: Q3 and Q4 could see a decent net cash build, sufficient to satisfy Coris that Yanfolila is still decent additional security. H2 is said to be better in terms of grades and hence AISC and oz. produced.

SC likely to be more reckless with their final selling, since they have less to lose.

The mining market generally seems to have lost its sparkle at the moment.

[jongreenfingers] 28/7/2021 18:15

So many words to say, "no real reason".

[goldenfred] 28/7/2021 18:13

Borderterrier, thanks for taking the time to write this post. 7 years is a long time so it’s good to hear the thoughts of someone who has been involved that long.

Cheers

Fred.

[borderterrier1] 28/7/2021 17:39

Goldenfred To understand the reasons you need to first realize that I have been a SH here for a long time. Since deciding to invest here (in 2014), I have also read all the positive posts and (what now turns out to be) speculative hogwash re. what a fabulous company this is from many, many other (now largely disillusioned) investors who spring up here with boring regularity like wild flowers in a roadside ditch.

At one time I held 400,000 shares and well-heeled friends of mine held a lot more.... on my recommendation. Over the years I have contacted the co. via e mail and telephone. Despite the glowing positive comments from many it is now abundantly clear to most of the long term investors that something here is not as it should be. You only need to read some of the recent comments from like minded investors on the LSE bb to confirm this. Regardless of what many others may tell you, these guys absolutely cannot get it right. In fact, IMO they are well out of their depth. I suspect this share price will once again go lower or stagnate as a result of this. Face facts; the "shareholder value" that was promised by the Ceo years ago is non-existent.

Your comment:- The "negative posts" seem to moan about the management of Hum. 100% correct. Who else would you blame the abysmally pathetic share price on?

[goldenfred] 28/7/2021 17:08

I have been reading all the comments and seen the Positives and the Negative posts. The positive posts all have reasons why they are positive but the negative posts only seem to moan about the management of HUM. What other reasons do the borderterriers of this forum have for being bearish.

[plat hunter] 28/7/2021 16:45

POG average 1793 for last 30 days circa 3.5 million net earnings for July and 4.9 million fcf

[polaris] 28/7/2021 16:38

The Yanfolila mine build debt facility from Coris bank (to replace that from Taurus) did not include any share placing, royalty or hedging. That was when HUM had no operational mine.

Why would the Kouroussa build be any different, given the proven cash-flow, cap-ex costs and schedule? HUM paid back the first one, $60 M, on time. Given cash-flows and timing, a similar facility would be just fine, though i'd expect better interest rates and lower fines for early repayment cf. the original agreement.


Highlights from the original agreement (11th April 2017):

· Up to US$60 million Senior Secured Term Facility to be drawn in instalments as required

· Four-year term, 9% interest rate, 12-month capital repayment deferral

· No royalty or hedging required

· Initial US$25 million being drawn immediately

· Reduces cost of debt and maintains flexibility for growth and development

· US$25 million Bridge loan facility with Taurus Mining Finance Fund ("Taurus") has been repaid and the mandate for further finance has been terminated

[tigerbythetail] 28/7/2021 16:11

Strange price action here - not driven by gold price or any obvious company related news.
I think HUM will want / need to place for Kouroussa. (The bank will probably only lend them 60% to 70% of its build costs, and it will require full visibility on the remaining money before they will grant the loan (i.e. they won't let HUM say they'll make the equity component from future cash-flows). Nothing radical about this - that's how banks usually work.
Could today be a sign of the placing incoming?

[plat hunter] 28/7/2021 15:04

Nope, I don't pay for tradingview and won't do until they offer level 2. One watch list, any chart and up to 3 indicators at a time for the free account.


Just sign up, create your watch list and go. Pick and choose from the hundreds of indicators and away you go. The only bug bear is the limit to indicators, which if i want to look at more than 3 then I just set up multiple charts (open link in new window) works a dream. Oh, and the pop up adverts, which i can live with by clicking x to get rid of them.

[johnhemming] 28/7/2021 14:57

@Plat hunter - how do you configure tradingview to get those. Is there a standard way on a free account or does one need to pony up.

[plat hunter] 28/7/2021 14:55

I don't think Gold's in an accumulation channel tbf



Unlike HUM's textbook example

[johnhemming] 28/7/2021 14:54

JP2011 - I agree that the gold price is an issue. The historic evidence links it to real yields in dollars. However, the nominal real yields have diverged from the actual real yields so we are a bit stuffed on that.

Nobody really knows. In the mean time I am celebrating two successes one in the United Nations (UNECE - Aarhus Convention compliance committee) and other relating to the HPA Axis so I will simply drink another glass of rioja.