Hummingbird Resources Share Discussion Threads

[lowtrawler] 29/5/2022 09:29

BT, forecasts are an inexact science. The feasibility study for Yanny had anticipated a far lower cost mine and failed to recognise things like the rainy season problems. If HUM had delivered per the feasibility study, the reports would not have been hype.You appear to believe the reports were deliberately misleading. I believe they were flawed and rose tinted. Holding HUM to account for the poor feasibility study is entirely valid but blaming other reports for projections based on that study is illogical.Junior miners seldom have the skill to challenge details in the feasibility reports, put together by experts. They need the reports to present a strong financial case and often make optimistic assumptions. It is the difference between being untruthful and being optimistic. Look across the mining sector and you will see it time and again. Any experienced investor in the sector makes allowance for this. In the case of Yanny, the feasibility study was exceptionally poor and would have bankrupt the company had pog not come to the rescue.However, this is all in the past. Simple operational improvements at Yanny will allow it to be run at a profit so long as pog remains high. The key considerations for the share price are success of Kouroussa and Dugbe.

[borderterrier1] 28/5/2022 18:29

Lowtrawler. I'm not finished, you and I are miles apart here. As I said in the earlier post, I built my reputation on truth and integrity. You, on the other hand (from what you say in your earlier post) don't seem to have a problem with pumping this up to entice investors. It may be the acceptable way these days, but it certainly isn't my way.

"We built a mine on time and on budget." Well done Danny Boy. But unfortunately, since then you have failed your loyal shareholders who believed in you and invested. And that Lowtrawler, is why I have an issue with this.

[borderterrier1] 28/5/2022 13:07

Plat Hunter B2Gold? OKIO resources? I think you must be on the wrong page, old fruit, this is Hummingbird Resources? Oh sorry, my apologies, I get it now. Nothing worth talking about there so I guess this is just another rat leaving the sinking ship? I would ask your GP about upping your medication PH........ it doesn't seem to be working...............

[plat hunter] 28/5/2022 10:47

Anyway in real news... M&A still ticking along in Mali?B2Gold Corp. to Acquire Oklo Resources Limited and its Extensive Land Package near the Fekola Mine?NEWS PROVIDED BYB2Gold Corp. May 26, 2022, 03:15 ETVANCOUVER, BC, May 26, 2022 /PRNewswire/ - B2Gold Corp. (TSX: BTO), (NYSE AMERICAN: BTG), (NSX: B2G) ("B2Gold") is pleased to announce that it has entered into a definitive Scheme Implementation Agreement ("Agreement") with Oklo Resources Limited (ASX: OKU) ("Oklo") pursuant to which B2Gold has agreed to acquire 100% of the fully paid ordinary shares of Oklo (the "Oklo Shares") in consideration for 0.0206 of a common share of B2Gold (each whole share, a "B2Gold Share") and A$0.0525 in cash for each Oklo Share held ("Scheme Consideration"). The Scheme Consideration represents a purchase price of approximately A$0.1725 for each Oklo Share and values the transaction at approximately A$91.3 million (including up to approximately A$27.4 million cash consideration). The transaction as contemplated by the Agreement (the "Transaction") will be implemented by way of a scheme of arrangement pursuant to Part 5.1 of the Australian Corporations Act 2001 (Cth) ("Scheme"). Upon implementation of the Scheme, in addition to the cash consideration, B2Gold expects to issue up to 10,754,284 B2Gold Shares to Oklo shareholders, representing approximately 1% of the B2Gold Shares on an undiluted basis.The acquisition of Oklo is expected to provide B2Gold with an additional landholding of 1,405 km2 covering highly prospective greenstone belts in Mali, West Africa, including Oklo's flagship Dandoko Project (550 km2). The Oklo properties are located on a subparallel, north-trending structure east of the prolific Senegal-Mali Shear Zone, approximately 25 kilometres from the Fekola Mine and approximately 25 kilometres from the Anaconda area, where B2Gold is currently conducting a 2022 Mali drill program of approximately 225,000 metres of drilling with a budget of US$35.5 million.In March 2021, Oklo delivered an initial JORC 2012 compliant Measured and Indicated mineral resource estimate of 8.70 million tonnes at 1.88 grams per tonne ("g/t") for 528,000 ounces of gold and an Inferred mineral resource estimate of 2.63 million tonnes at 1.67 g/t for 141,000 ounces of gold.  The mineral resources are distributed across the Seko, Koko, Disse and Diabarou deposits, which all remain open and are expected to grow with ongoing exploration drilling both along strike and at depth. Significantly, B2Gold believes that approximately 65% of the resource is contained in soft oxidized material, which would be amenable to processing at B2Gold's Fekola mill. 

[borderterrier1] 27/5/2022 23:19

cinoib Very well said and I agree 100%.

[cinoib] 27/5/2022 22:41

Lowtrawler, Not a problem but 20% in 4 years isn't my idea of capital gain Unless I get silly and get stranded in a stock, and I have been , then I am out as soon as I get 100% per anum gain Like 1 STOCK I BOUGHT AS A GAMBLE A FEW WEEKS BACK IT ROSE 60% IN A WEEK SO BAILED OUT AND BANKED THE CASH. THAT IS CAPITAL GAIN, NOW THAT STOCK HAS FALLEN BELOW WHAT i BOUGHT IT FOR, so a good move. Trouble is these days there are very few of those around. Back in the 90's was very easy and 350% per anum was easy meat. If you want a quick punt to build your cash balance drop me a line private and I'll give you 2 and you can look and decide for yourself., but this one is dead untill Betts is replaced,, then we might see some better movement.

[borderterrier1] 27/5/2022 20:27

Q2g As others have previously said, the problem here is the inexperienced, overpaid Ceo. But it is impossible to get rid of him because of Daddy and the bod have no control over what happens. With gold at the price it is today and these clowns can't make a profit for the shareholders? Abysmal, pathetic performance.

[q2g] 27/5/2022 19:45

What I was endeavouring to find out was whether a different, supposedly more experienced management could make this mine (or mines) profitable at the present gold selling price with accompanying reasonably constant production costs, or whether it was a dead duck from the start, which the market is only now finding out about.

I still don't know how close the board are to controlling what happens on the ground.

Do successful miners in Mali have better grades, or are they just more efficient ?

I'm not terribly disturbed by the country itself, where instability and terrorism in the north have been around for years, if not forever. I would imagine that whatever the regime, gold exports is so important to the economy that everything is and will be done to protect the industry.

[plat hunter] 27/5/2022 19:10

Peoples perception of tone knocker, is usually shaped by their own environment.

[1knocker] 27/5/2022 18:45

Plat is getting offensive. Methinks he must be down more than he can afford, and is getting rattled.

[borderterrier1] 27/5/2022 18:20

Lowtrawler Even now I speculate that you believe TBTT is spouting garbage, but he isn't. Like I said, you are a dipstick.

[tigerbythetail] 27/5/2022 17:43

Well, results horrible, as expected. It takes something to operate a gold mine at a loss when the gold price is so high. The Chairman is off as well - I wonder why. Certainly, he has nothing to be proud of; he should have forced out Dan Betts years ago.
That said, the next quarterlies are probably more relevant right now. Can HUM get production up and costs down? Especially as the gold price looks shaky in the near future.
Key question here: HUM are using up some of the Coris loan to operate Yanfolila at a loss. The loan by itself was never enough to cover the cost of building Kouroussa and covering working cashflow. So there is now a hole in Hummingbird's finances.
Will it be filled by:
1) A sudden radical improvement in the performance of Yanfolila, which together with a healthy gold price, leads to the the generation of sufficient free cash?
2) A sale of Dugbe for hard cash on the nail?
3) An equity raise?
4) A convertible loan? (Which would likely be no more than a staggered equity raise).
You make your mind up and you place your bets. For myself, I think Mali is too unstable now to risk investing here, even without considering HUM's previous woeful performance.

[borderterrier1] 27/5/2022 17:32

Lowtrawler. Exactly my point. You confirm absolutely that we are dealing with pathological liars here. Liars, pure and simple. Not honorable guys intent on providing the "shareholder value" that DB promised at mine completion. People that lie barefaced to entice investors. I have a successful business but I have never, ever lied to my client for my financial gain. Ever. My business was built on truth and integrity not lies and hyperbole. Your comment, quote:- "You see documents from Brokers all the time in the mining industry doing that" Well, I've got news for you. You shouldn't because IT'S ILLEGAL. Please read the definition of pump and dump. You admit this company is run by liars and yet you are still stupid enough to believe that now, because you decided to invest, things have changed? What a complete dipstick you are LT.

[lowtrawler] 27/5/2022 17:11

BT, you keep referring to Frank Campbell and Beaufort Securities. It is ancient history. Anyone drawn in by those documents was incredibly naïve. You see similar broker documents all the time in the mining industry and nobody with 2 brain cells would have taken them at face value. Although Beaufort were prosecuted, Hummingbird were not one of the clients they were prosecuted for.

I get that you were gullible and feel misled. It is time for you to recognise HUM are in a different place and reassess.

[borderterrier1] 27/5/2022 17:05

Lowtrawler Question. Before his involvement here, how much actual mining experience did Dan have? Please don't take my word for it. Read the early hype. Where did the info. come from? And of course I have no concrete evidence that K and D will fail. But considering the past track record of the management here it looks likely, don't you think? Beauforts target price of 60 p in 2017? Well-oiled Swiss watch? You tell me LT. And if what you say is correct, why is the share price only 25% of where it was SIX YEARS ago. Who would you blame that on? Open mouth, insert foot again LT?

[lowtrawler] 27/5/2022 16:56

BT, I didn't realise HUM had built a mine the size of Kouroussa in the last 6 years to add to Yanny? I also didn't realise a partner had delivered a DFS on a mine the size of Dugbe? As you know, past performance is no guide to future performance. There are developments in place today which have not been present for the last 6 years. For you to be correct, Kouroussa will need to miss plan by quite a margin and Dugbe will need to be worthless. Rather than dwell on the past, what makes you believe neither Kouroussa nor Dugbe will be accretive? I don't want any of your cynical nonsense about Dan always failing, Dan being in it only for himself - What concrete evidence do you have which says Kouroussa and Dugbe will both fail?

[q2g] 27/5/2022 16:03

borderterrier1 ; Would you know ow much of the decision making is made locally ; and how much in London ? Would the same situation have obtained at the beginning of operations ?

What is the background of the CEO ?

[borderterrier1] 27/5/2022 15:48

Lowtrawler Go back and read all the similar posting on here from others over a six year period that have now abandoned this because they realise it a futile. Of course, in your tiny, biased mind they were ALL wrong. You WILL lose here.