Hummingbird Resources Share Discussion Threads

[laurence llewelyn binliner] 20/8/2021 10:01

#TBTT, not the best no, but pretty much as expected..

H1 actual: 46,809 ounces sold H1-2021 POG 1794 | AISC 1437 | margin 357 | EBITDA 16.2M
H2 forecast: 58,000 ounces sold | POG 1800 | AISC 1350| margin 450 | EBITDA c26M
H2 best case: 63,000 ounces sold POG 1800 | AISC 1300| margin 500 | EBITDA c31.5M

It is a recovery bet on the AISC coming down fast now driven by strategy, and there could be a lot of upside to come if we can get somewhere in the forecast/best case range..

18 months of earnings above would almost cover the plant build at Kouroussa, then we can get back to under 1000 AISC..

[fsawatcher] 20/8/2021 09:52

i fink it poor when dey say H2 2021 for assays

i fink dat mean not q3 dunnit

if it q3 den it be said

if it q4 den dey say H2 innit

i got lisp

[fsawatcher] 20/8/2021 09:50

some peeps dont learn

dey cart even read a loss when it a loss

Mali rain stormin it downs nows

slip slidin away innit

[lowtrawler] 20/8/2021 09:49

The weak price reflects the lack of detail provided in the announcement. I was a little surprised that the COO had only "visited" the site. I expected them to be there more or less permanently. In a world where less than 12 months ago, HUM could miss guidance badly with only a few weeks of the year to run, the market is not going to assign value until they actually deliver.

[tigerbythetail] 20/8/2021 09:42

The interims are really lacklustre.
It's quite an achievement to actually make a loss when gold prices are so high.
Wasn't the AISC of Yanfolila once meant to be $690/oz? What happened?!?
As regards Yanfolila, the best news continues to be the drill results from Sanioumale East. The most mystifying is the total silence on Gonka. Overall Mali stability is also a worry.
On Kouroussa we wait (and I'm one of those who believes there will be an equity raise).
On Dugbe, well, all you really need to know is that Pasofino let the need to calculate the NPV with a discount rate of 5%, when anybody financing the project will automatically apply a minimum discount rate of 15%. (It';s Libera, for God's sake!) They are dressing it up to make it look like it is viable, when I really don't see that it is. Only 1 in 3 mine projects that reach DFS stage actually ever get built. I make it that Dugbe doesn't.
HUM's share price is bottom dollar cheap already. I don't think it can fall much further, unless the gold price collapses. But these results aren't going to encourage a turnaround.

[dickbush] 20/8/2021 09:28

The weaker price today reflects the bald figures and takes no account of the future potential. Assuming the near 1800 gold price is maintained this should be much higher by the time we see the 4th qtr.

[laurence llewelyn binliner] 20/8/2021 09:04

#Plasbryn, good to see your handle pop up again.., its been a few years.. :o)

The Q2 AISC improvement over Q1 was -108/Oz with our new COO driving strategy and, I see the tone of continual improvement is evident again in the H1 report too..

Guidance reiterated a 4th time post period tells us they must be confident of hitting it now half way though Q3, and to deliver that the AISC has to be closer to 1200 per ounce by year end..

There is evidence now of us being on the right track again, but IMO the drag on the share price today is doubt over the Kouroussa funding package announcement due shortly, I do not expect to see any new equity, that would be very disappointing as we can fund it from internal cashflows and debt..

Combined AISC with the next project will be sub 1000/Oz and a lot closer to where we need to be to maximise profits..

A little surprised to see a loss of -USD3.3M posted, I was aiming for scratch but with the final debt/interest repayments of USD13.5M it was always going to be tight with the H1 AISC as high as it was..

Net cash of USD12.4M is a great starting point, Q3 will be stronger and set us up with a funding package strategy to move forward with..

[buywell3] 20/8/2021 08:35

What was the POG referred to in the Guidance ?

[temujiin] 20/8/2021 08:12

Hi Plasbryn,

'In line with Hummingbird's guidance expectations with full year production to be weighted towards the second half of the year.'

Guidance is 100-110k oz, 47k oz so far so if they do say 105k oz for full year then 58k oz expected in H2 so AISC will drop a decent amount too.

H1 was always advised as the poorer quarters.

[plasybryn] 20/8/2021 08:05

The new COO doesn't seem to have had much impact on operating costs yet. Why are they so stubbornly high?

[plat hunter] 20/8/2021 08:04

No debt paints a very different picture.Net earnings running at 8 million a quarter at current pog and aisc and set to only improve.

[temujiin] 20/8/2021 08:01

FSAwatcher.

· H1 2021 - Net cash of US$12.4 million (H1 2020: net debt of US$20 million)

It's amazing how this 'loss' making gold miner managed the above in the last 12 month, truly amazing.

[sleveen] 20/8/2021 07:49

$31m cash generated from operating activities.

$13.2m debt re-paid in full.

Q1 23 oz, Q2 25oz so high cost/oz. H2 production on course to be substantially better.

[golden prospect] 20/8/2021 07:35

Great to see interims out with robust balance sheet and all going to plan, especially y/e guidance maintained.

[fsawatcher] 20/8/2021 07:23

them numbers terribles never seen a gold miner make loss on $1700oz prices

dumpin dat news into a friday poor innit

[chipperfrd] 19/8/2021 08:40

Link to VEIN drill results:

[laurence llewelyn binliner] 19/8/2021 08:30

Good to see some more drilling results from Dugbe this morning, and POG inching back up towards 1800 again... :o)

[plat hunter] 18/8/2021 14:06

It's coming, the shares are in demand and we have a hammer


Demand precedes price...Always

[borderterrier1] 17/8/2021 21:55

Goldenfred Of course it could. Perhaps you should go back a few years to the posts on the LSE bb to the time Bert Monro (at that time the Hummingbird Resources head of business development) left? Then it shouldn't be too difficult to figure out why?

[goldenfred] 17/8/2021 18:40

Could tomorrow be the day when Cora Gold share price overtakes Hummingbird? :-( AIM mining shares are so unpredictable and crazy!

[borderterrier1] 16/8/2021 22:13

Jongreenfingers I agree. My main investments are blue chips for the long haul. But risky stuff like this? Unless you are very, very lucky with OTC, pink sheets, AIM etc. you are wide open to pump and dump..... but there are always gullible investors lining up for a "bargain"....like Plat, that think they know better.

I did my due diligence here but red flags started popping up and I have mentioned them all in the past. The glowing 72 page "well-oiled Swiss watch" report by Frank Campbell was an absolute farce but it must have enticed many, many "investors". Unfortunately, there is nothing any of us can do about that and over the years I have been investing, it is becoming more commonplace these days. I made a big mistake with this, I don't believe the Ceo or management are up to the job and will bail out asap.

[plat hunter] 16/8/2021 20:30

75% of customers probably lose on their CFD accounts but that's not quite the same, a PI has time on their hands with no margin calls.

[jongreenfingers] 16/8/2021 20:20

I'm happy to agree with you that Aim investing is, for the most part, a mugs game and we can part friends. It's not my normal game and if I can get a 5% dividend and 10% or 20% capital return on the bluest of blue chips, it is usually tricky to justify playing in the shallow end of the market. Although right now, in a crazy market, I'm enjoying the risk/return prospects here.

However, the maths required for 75% of PI's in the market overall to lose over the long term in a market that doubles every decade or two, depending where you're invested, doesn't look right to me. But its not worth fighting over.