Hummingbird Resources Share Discussion Threads

[plat hunter] 22/6/2022 09:46

WTI now down 15%

[cinoib] 22/6/2022 09:32

TigerByTheTail, am pleased to see someone else is on the ball and sees there is no future in this dog.Good on ya.

[borderterrier1] 21/6/2022 17:07

Lowtrawler Please read my post again. I didn't say "the company is going to fold" I said quote:- "MY CONTACT told me this morning that this will be single figures in three months then PROBABLY go under." Which, from a legal perspective is quite different? And you're just upset because you fell for the "information" here and now you are getting nervous? And the "pretentious know-it-all" has been unerringly accurate up to now hasn't he? And besides, please read the glowing predictions (as opposed to dire predictions that MY CONTACT made) from the Ceo from six years ago, quote:- We aim to provide shareholder value etc. I guess he made predictions that he "wasn't willing to support"? I guess just because Del Boy made them, that's O.K.? And besides, I'm not alone. Over the years,many others have made similar predictions about the stability and obviously doubtful "management" of the Ceo and Bod here. IMO,they all seem to be 100% accurate up to now.......don't they?

[lowtrawler] 21/6/2022 16:24

BT, you've just said the company is going to fold in a little over 3 months without providing any reasoning. If you believe that, you will have sold. Making unexplained statements about company failure and hoping to leave your remaining shares to the grand kids does not compute.

You are coming across as a pretentious know-it-all with a huge chip on your shoulder making dire predictions you are not willing to support (and through your own actions, clearly do not believe).

[borderterrier1] 21/6/2022 15:59

Lowtrawler Sorry, I'm always very careful what I say on here and I never,ever divulge anything that I am told in confidence. And I always make sure I take precautionary screenshots to confirm what I actually say. But you have to admit that over the years my predictions have been unerringly accurate? And even you have to also admit that logically, things don't look good.......do they? Key BOD members bailing out without warning? etc. etc. share price where it is today after six years? Come on, even a blind man can see where this is going. Unless of course, as I repeatedly say, there are big changes. And no, I still hold here but at a huge loss that I am prepared to write off or leave to my grand kids. But you couldn't really call this an "investment" by any stretch of the imagination....could you?

[lowtrawler] 21/6/2022 15:07

I take it you have finally sold out then BT?

What is this impending news leading to terminal failure?

[borderterrier1] 21/6/2022 14:26

Sorry guys, my contact told me this morning that this will be single figures in three months, then probably go under. I DID try to warn you all, (especially you, LT) but some fell on stony ground......

[plat hunter] 21/6/2022 06:12

Mali is a bloody mess, we really need Kor up and running to derisk there.

[laurence llewelyn binliner] 20/6/2022 21:54

#DB, as the project wheels are turning, we will have to wait and see how it plays out..

IS has taken the project to DFS
Dugbe transfer to VEIN next
HUM/VEIN 51/49% split to happen after
Limpitlaw will lead the project through to ESIA, slated for submission end of June
Toth can lead through any restructuring
The next CEO, subject to M/A is already on the BOD and the current ESAN CEO.

A few assumptions but it is starting to make more sense now as we wait to see what ESAN really want from Dugbe..

[dickbush] 20/6/2022 20:29

Fasken

On May 6, 2021, Pasofino Gold Limited completed a marketed public offering of 128,571,500 common shares at a price of $0.07 per common share for aggregate gross proceeds of approximately C$9 million. The offering was conducted on a best efforts agency basis by Stifel GMP as sole agent and bookrunner.

Fasken advised Pasofino Gold Limited with a team that consisted of Allison Marks, Krisztian Toth and Alec McIlwraith-Black

Krisztián has particular expertise in mining finance including royalty, streaming and joint venture transactions and acts for both Canadian and international companies involved in takeover bids, plans of arrangement, domestic and cross-border offerings (both public and private), corporate reorganizations, stock exchange listings, continuous disclosure obligations and other regulatory compliance issues.

Leading Canadian law firm Fasken continues its stellar performance as an M&A and capital markets advisor. The Firm claimed top rankings for 2021 on all major league tables – Mergermarket, Bloomberg, Refinitiv and Financial Post – sustaining its leading position as Canada’s most active M&A law firm for the second consecutive year.

I wonder, given the above, why IS and the COO, John Sanders, have left. Fasken can raise equity funding and are active in M&A. What's not to like?

[laurence llewelyn binliner] 20/6/2022 18:24

#PH exactly where I was..!

Limpitlaw Consulting, established in 1999 and based in Johannesburg, South Africa is a mining and minerals industry focussed consultancy. The Company provides technical services in mining, environmental and sustainability disciplines to mines and exploration projects, primarily in Africa.

Core competencies - Impact assessment

The ESIA is the next step for the Dugbe project, then we already have our CEO on the board who is currently the CEO of ESAN..

Looks very much like they are pushing on with Dugbe and this next move part of the strategy to unlock the project while IS gets on with the strategic review, an encouraging development as the HUM/VEIN 51/49% Dugbe split takes place..

[plat hunter] 20/6/2022 18:14

Interesting that IS has been replaced by Limpitlaw who was the ARX appointed contractor for developing the DFS at dugbe.Stalker, clearly the bucket man, hence he's being retained on a consultancy, ie 'Introducing Broker' They're not messing about, HUM continue to progress the route to 300k unabated. If you was wise you'd google that name and take a look at what he does.

[laurence llewelyn binliner] 20/6/2022 17:53

#TBTT, the next phase of the company evolution and structure is underway now, ESAN will by default own some of Dugbe through VEIN when the project is transferred in, what their intentions are we will have to wait and see BUT we already have their CEO on the BOD, were they positioning..? maybe IS stepping down is indicative..?

VEIN 07.02.2022 - approximately USD4.5M of the Offering (8,220,626 Common Shares) has been subscribed for by ESAN, a leading Turkish mining company. ESAN has been granted the right to nominate one director to the Board of the Company..

VEIN 25.04.2022 - Pasofino Gold Appoints Savas Sahin To Board of Directors - Mr. Sahin has had many years in the mining industry, working under operational, projects and management roles at Eurogold, Inmet Metal Mining, Newmont, Mount Isa Mines, Demir Export, AMAK Mining in Turkey, Australia, and Saudi Arabia. Mr Sahin currently serves as the CEO of ESAN, sits on the board of ESAN and AMAK Mining.

[tigerbythetail] 20/6/2022 17:40

Hi Lowtrawler!
I hope for all investors here that you're right and ESAN or another gold miner make an offer for Hummingbird. It would be the quickest and best way out of this mess for everybody.
I'm still wondering why Hummingbird's chairman also walked recently. IMO, there was something odd about that abrupt announcement.
I don't really think Dugbe has the numbers to justify anybody going ahead with building the mine (especially given the jurisdiction). But others may disagree.

[borderterrier1] 20/6/2022 17:22

Glory, Glory, Hallelujah!!! At long last on the LSE bb there is a poster G_G_G that makes absolutely, perfect sense. Well done G_G_G my hat is well and truly off to you fine sir! Now with a bit of luck the "investors" can get rid of the grinning idiot.

[lowtrawler] 20/6/2022 17:02

LLB, as I see it, HUM are a sitting duck for takeover. They have no large blocked holdings and a market capitalisation under £50m. Even at a 100% premium, it would look good value. I think it may appeal to ESAN.

[laurence llewelyn binliner] 20/6/2022 16:48

#Lowtrawler, that is the size of it yes, the process should now complete as VEIN have done their part of the deal by finishing the DFS, we will still own 51% of Dugbe regardless of if/when it gets progressed to a build, and at 23% IRR it may well prove too marginal with the current back drop of fuel and operating cost rises..Interesting development all the same, we have neither made or lost anything, but we have progressed Dugbe to a DFS ready project, the ESIA is due for submission by month end, and a BFS would be next..

[lowtrawler] 20/6/2022 16:32

LLB, all this talk of "reversing" into VEIN is a bit misleading. As I understand it, all that is happening is VEIN will be 51% owned by HUM and 49% by existing VEIN shareholders with the whole of the Dugbe asset being owned by VEIN (before issuing the Liberian Government 10%). Whether or not this actually happens will be interesting. It is possible ESAN could make an alternate proposal.

[laurence llewelyn binliner] 20/6/2022 16:17

#Lowtrawler, I concede that it was a bit of a surprise to read IS stepping back, but we were also expecting developments now the DFS is complete and we are reversing into VEIN with an ESAN BOD member already in place, HUM will also have at least 1 seat..

Interesting development on phase 2 of Dugbe and how/who/if it gets taken forward, worst case if it is parked for now the DFS has cost us nothing more to progress to this stage, with IS leading the strategic review we should get some more news in due course on project execution or not..

[lowtrawler] 20/6/2022 16:01

LLB, I'm not drawing any conclusions from the announcement. It's simply something we should all be aware off. I think everyone thought highly of Ian Stalker.

[laurence llewelyn binliner] 20/6/2022 15:56

A strategic review was always going to happen post DFS as HUM take on 51% of VEIN, and ESAN have a BOD seat now so they do not need so many cooks..?

Cherry picking IS moving to consult on the review may not be the negative signal some might read into it from the DFS..

[lowtrawler] 20/6/2022 15:46

Thanks TBTT, also one of the other Directors has gone:

[tigerbythetail] 20/6/2022 15:13

Ian Stalker has resigned from Pasofino (i.e. Dugbe).
Draw your own conclusions about what that says.