Hummingbird Resources Share Discussion Threads

[borderterrier1] 06/8/2021 13:38

I guess it was too much to ask that this would move N two days in a row? Nobody trusts Dodgy Dan now I'm afraid.

[zhockey] 06/8/2021 09:51

Those grades didn’t look that great to me, thoughts?

[plat hunter] 05/8/2021 19:18

Never say never on POG but real rates aren't going anywhere in a rush with even the BOE now discussing the likley possibility of negative rates.


Gold loves inflation so the lower the real rates the more cash needs to be hedged with the yellow stiff.

[backmarker] 05/8/2021 18:14

does anyone think PoG could fall back to $1,500-1,600 ?

is the March low of $1,700 the start point of a major upwave following the one which topped out at $2,000 in Aug 2020, or is it the bottom of the first of 2 downwaves from that top ?

if the former, then we need to break out above $1,900 to confirm it. if the latter then a drop below $1,755 is needed.

given the dithering going on at present, the gold chart is possibly developing some sort of continuation pattern (- chartist-speak for it's not following a clear 3 up 2 down pattern) and could go anywhere.

I think the issue is inflation, i.e. the lack of it. given all the fiscal stimulation and money printing which has happened in recent years one might have expected inflation to be rearing its head. however, despite a short-lived rise in US Treasury rates earlier this year, interest rates remain low.

my own view is that inflation is inevitable, even if currently delayed. that should ultimately be good for PoG.

provided HUM can continue to produce at current rates and costs (and management doesn't do anything stupid !) then we will be making a profit and that should ultimately be good for the share price

[johnhemming] 05/8/2021 17:55

I think the answer to both questions is yes. Personally I am quite happy to debt finance Koroussa and use a bit of FCF as well.

[backmarker] 05/8/2021 17:51

I haven't been keeping up with developments here - other than the drifting share price
So would someone be kind enough to tell me:

are we finally debt-free ?

are we likely to be funding something big in near future which will likely put us back in debt ?

thanks in advance

[borderterrier1] 05/8/2021 14:44

Nice little move up today. Let's all hope it continues.

[laurence llewelyn binliner] 05/8/2021 13:49

#roguetrader, the KEUG drilling results are/were positive indeed, but do not add any value until modelled and a DFS says they can be economically recovered..

These latest holes and those from the 2020 and 2021 drill programme, along with drilling carried out by Gold Fields Limited are being used in the economic analysis as part of the Pre-Feasibility Study ('PFS') being undertaken to prove up and include the KEUG into the Company's future mine plans Hummingbird will provide further progress updates on KEUG in its quarterly releases and its updated reserves statement scheduled for release later in the year..

I have been critical of management and decisions in the past, and with good reason when poor judgement was exercised and the poor results from them, but it is encouraging to see recent progress driven by evolution of the team and strategy impacting our AISC which is the only element inside our control..

Nice to see a penny on the SP, next up the Kouroussa funding package..

[plat hunter] 05/8/2021 11:19

Effectively... Cora adopters indirectly funded a debt a free Yanfilolila.

[plat hunter] 05/8/2021 11:17

Yup Cora was/is a 100% manufactured oven ready company, HUM even put the bod together; appointed the brokers and bosh, unloaded it on to the market.

[sleveen] 05/8/2021 10:47

Didn't know that :-)

[plat hunter] 05/8/2021 10:10

Can I just add that we got a helluva alot more for cora than 2 million...100% of a non core asset was spun off to be sold to Private investors via the open market as it was the most cost effective form of disposal over waiting for a suitor with no money but big dreams.

[golden prospect] 05/8/2021 09:35

The improving picture for HUM make the prospects more rewarding.

05 AUG 2021

[jongreenfingers] 05/8/2021 09:22

Charlieeee. You are crying over the sale of Cora, which would have provided a few hundred thousand Pounds extra gain (depending on the suppression effect of our sale) had we hired a soothsayer to forecast the market over-reaction to the drilling.

In the same post you say no element of Kouroussa was handled well. This is a mine that DOUBLES our capacity, bought at less than our current annual exploration budget. For a 7.5% dilution, we get a 100% uplift in production. It was an absolutely stonking deal that you bemoan.

Guessing you're more a "small picture" guy.

[temujiin] 05/8/2021 08:33

I disagree with Charlieee but no need at all for that PH.
Last para did make me chuckle tho.

Bottom line for HUM and DB is The Bottom Line, and there they score highly imo.

[plat hunter] 05/8/2021 08:25

You have absolutely zero of my respect Charleee... Similarly, i'm not got to engage with any of those points as they don't deserve a reply nor you deserve anymore of my time time than it takes to call you out as a clueless imbecile.I'd even go as far a calling you a c*nt but you lack the requisite depth and warmth, so I'll leave it at imbecile for now.

[charlieeee] 05/8/2021 07:56

It is not surprising that the market is down on HUM and DB's deficiencies are there in plain sight.

There was no single aspect of the Kouroussa deal conclusion handled well, creating concerns about viability (failure to refer back to the terms negotiated by Cassidy and used in June 2020 ie little change), creating uncertainty surrounding the purchase shares and failing to reiterate the finance plans.That was a text book demonstration of how not to update the market.

Having had a decent stake in Cora for 5 years, they sell that stake a month before the stellar results were announced (and those would have been known by insiders, because there would have been visible gold in the assays sent off for testing).

What management paid for 19% of Dugbe has never be disclosed to the market.

The list is endless and I am not going to sour the mood by reciting all over the last years.

What the market is weighing up is whether the quality of the assets (and current POG) outweigh the poor quality management. That is my dilemma as a sizeable shareholder: success here will be in spite of and not because of management (and may well flow from new key employees who have the skills and do the job whilst Dan Betts has the title and the pay).

[sleveen] 05/8/2021 07:39

Not only but also:

" Each hole of the programme intersected mineralisation over the +300 m long strike length tested, to a depth of approximately 200 m below surface, with excellent grades of +3 gramme per tonne ('g/t') achieved"


Clearly some of the intersections not listed wouldn't be commercial in isolation, but combined with the historic results we probably have the makings of an underground mine.

[temujiin] 05/8/2021 07:21

It's surprising that the market seems to be down on HUM and I don't personally subscribe to the Dan Betts effect. Today we again get another set of great gold intercepts to re-enforce that LOM will be significantly more than currently stated. HUM can do little more than find gold, produce gold and sell gold for $millions a year in profit. Guess the market will figure it out eventually.

Todays RNS on KE drilling - The Company has received results from 18 new diamond drill holes over 4,100
metres ('m') at the KE deposit which include the following notable intercepts:




§ 1.3 m at 7.00 g/t from 242.7 m (KEUGDD018)

§ 3.4 m at 5.35 g/t from 231.6 m (KEUGDD022)

§ 3.59 m at 5.17 g/t from 239 m (KEUGDD026)

§ 7.9 m at 4.22 g/t from 248.1 m (KEUGDD029)

§ 5.2 m at 3.83 g/t from 156 m (KEUGDD015)

§ 4.4 m at 3.67 g/t from 251.6 m (KEUGDD025)

§ 8.8 m at 2.87 g/t from 205 m (KEUGDD017)

§ 2.2 m at 2.46 g/t from 249.8 m (KEUGDD027)

[charlieeee] 05/8/2021 07:20

There should be some rub off from Cora, if only the market sees the good grades on HUM S/E exploration and that these can be fed into an existing built and paid for plant!

[johnhemming] 05/8/2021 07:17

>Who's to say Stockopedia are correct?
I don't think they are. They get their figures from someone else. That someone else provides them more generally to secondary information sources like Stockopedia.

[sleveen] 05/8/2021 07:00

FWIW, I reckon HUM are are on the cusp of a change in sentiment in anticipation of good news over the next few months, resulting in a rerate.