Hummingbird Resources Share Discussion Threads

[plat hunter] 01/7/2022 14:52

I see your ability to process information is improving Chesty.Some more for me... 16 average now ;-P

[lowtrawler] 01/7/2022 14:51

TBTT, for Dugbe, it would all depend on the price. Based on Pasofino, $50m seems to be the market rate and so HUM could pick up half of that - a disappointment to some on this Board! The NSR could be over Yanny and so unlikely to be impacted by Coris loan covenants.

We really do look like a sitting duck for takeover. Even at a 100% premium, £80m would buy you Yanny (a mine capable of turning into a cash cow generating over $30m a year); Dugbe, and; Kouroussa.

[tigerbythetail] 01/7/2022 14:24

Hi LowTrawler!
I don't think Dugbe is saleable goods. Too much risk (Liberia!) for too little return. I assume Ian Stalker walked because he came to the same conclusion. (IMO, Dugbe always needed a "starter" high grade zone to make the numbers work, and they never found it).
I do think a NSR is a possibility, but that would eat away at the upside later. That is, assuming that the terms of the existing Coris loan permit it.
I do wonder if B2 Gold or Endeavour or some other experienced West African operator won't make a low-ball offer for Hummingbird now. The mcap here is now peanuts.

[1knocker] 01/7/2022 13:51

llb, it is the cost side which will interest me. Inflation (esp fuel, but chemicals, tyres and other spare parts too, and quite likely wages even in Hum's part of the world) is a major factor in mining.

Also, I think that we can be confident that if any miner suffers supply shortages and delays, it will be Hum. We can be confident that Hum will not have increased inventory in anticipation of supply disruption, and that if it has the stocks will have been pilfered because it did not occur to them to put a padlock on the door of the store!

[borderterrier1] 01/7/2022 13:21

Lowtrawler. Just like I told you, single figures. This party's over. You lost, we all did.

[ukgeorge] 01/7/2022 13:13

And it is into single figures!!!

9.9p

Timber!

[creditcrunchies] 01/7/2022 13:09

It's -95% since they listed, Dan the man has still got another -5% to reach the target of 0

[sleveen] 01/7/2022 13:08

Sell Dugbe IMHO.

[lowtrawler] 01/7/2022 12:58

It's been good to hear everyone being impressed by our COO. To my mind, he is key to our success (or failure) over the next 18 months. We need Yanny to turn cash-flow positive and plug the funding gap for Kor. I suspect we will still be short of funds to deliver Kor on time given pog has fallen and so other action will also be needed. I don't see a capital raise being necessary. Perhaps a sale of Dugbe; additional loan or Net Smelter Royalty agreement. There are lots of options available.

[sleveen] 01/7/2022 12:55

Either would do me.

[laurence llewelyn binliner] 01/7/2022 12:44

#PH, I came in at 21,500 ounces poured, so will be interested to see how far off, or not we both are not including any of the Q1 inventory sold/added to..

2/3 weeks we should begin to see the evidence we have waited for 18 months for that the operational side has started to turn a corner at last..

[plat hunter] 01/7/2022 12:15

By the measure of the statement that H1 should be cash flow neutral, I estimate that Q2 production needs to be circa 22,250 ounces. Presuming they don't touch the poured gold held on the balance sheet.


Possible.

[chesty1] 01/7/2022 11:25

Cora average is 11p but cheers all for your concern. HUM has dropped 75% in two years! Well done Plat Munter you can certainly pick em & one to follow!

[sleveen] 01/7/2022 10:41

Probably bought Cora @ 18p

[plat hunter] 01/7/2022 10:40

Chesty had you dumped Cora when i said you could have got treble ha ha ha ha ha

[plat hunter] 01/7/2022 10:39

No I'm down George, average of 16.7p I have no reason to lie.. I understand that a share price isn't a company and the company isn't a share price.


I've only been adding small amounts over the last couple of years from trading profits elsewhere, for future dividends based on 300k ounces. Come and join me in FRES and CEY and I'll show you how to day trade.

[ukgeorge] 01/7/2022 10:36

Chesty, don't be a clown! Plat has traded this over the last 8 months and in his parallel universe has made several hundred percent! The new all time low share price is a great opportunity!

[laurence llewelyn binliner] 01/7/2022 10:28

25.04.2022 - Guidance: the Company maintains its 2022 guidance of 87,000 - 97,000 oz of gold, with an AISC oUf S$1,300 - US$1,450 per oz of gold with forecast improving trends in production and AISC as detailed above..

[plat hunter] 01/7/2022 10:06

You copying and pasting your own posts between boards george?

[ukgeorge] 01/7/2022 09:39

Nice post on LSE below.



"It will be if they have to do a raise. They went through the first 2 tranches very quickly. It's impossible to know how much money intended for Kouroussa has been used to support Yanfolila and its not as if dodgy Dan will tell you. As a best guess I would say 10s of millions. It doesn't even sound like they are providing guidance for a huge turnaround at Yanfolila and that's with a terrible track record of maintaining guidance. Unfortunately, a raise would require a significant discount. I mean personally I wouldn't take it at any price. If they require 10s of millions at a big discount to 10p, it doesn't take a genius to see that the dilution will be massive, or they go bankrupt. Anyone that tells you differently is an idiot or lying. There is the promise of Kouroussa, which on paper throws off enormous amounts of cash using current metrics. But then Yanfolila did alright for a bit to pay off the build debt. HUM could be seriously diluted and $150 million in debt before kouroussa is generating cash. I'll remain here with my fingers crossed and something clenched, but I am not that hopeful. The reserves and resources update was woeful. They need to stop all further drilling at Yanfolila because it is not paying off. If they don't see a vast improvement at Yanfolila then they need to wind it down. Tough times and hopeless management in an incredibly unstable country. What could go wrong?"

[plat hunter] 01/7/2022 07:16

I don't think Knocker did either lol

[laurence llewelyn binliner] 01/7/2022 07:11

Q3 now underway and we wait patiently for our quarterly numbers and outlook, which will be the bigger part of the news IMO..Onward and upward on the ounces, the share price will follow in its own time..