Hummingbird Resources Share Discussion Threads

[plat hunter] 24/10/2022 08:40

Q3 next year should see an 6-7 bag from here easily

[sclper] 24/10/2022 08:34

Surely all the new equipment - drill rigs & 5 excavators - and the involvement of Corica is going to make a big difference at Yanfolila. Without any further hiccups there should be a step change in production as the high grade ore at Komana East is processed.
The even higher grade ore at KEUG (around 4g/t) is set to be brought into production in Q2 next year at the same time as the first pour at Kouroussa. This should all lead to a big recovery in the share price

[plat hunter] 24/10/2022 08:24

Haters gonna hate but just added 4k to the ISA... Juice money top up for a tax free windfall in 2026.

[temujiin] 24/10/2022 07:56

gives us some confidence we can get back to where we should be at
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I agree, Q4 should be a pretty good month, but we all know should isn't the same as was, so it's still fingers crossed that this time, the fixes will work.

[laurence llewelyn binliner] 24/10/2022 07:24

#Temujiin, if the Q3 16,827 ounce total was the result of a 44% drop in mined volumes, then we should have seen 24/25,000 at full size BCM mined volume, add to that we are now into higher grades, and we should see a significant improvement for Q4..

Having the new Kouroussa mining contractors expertise to help iron out the problems at Junction/Yanfolila gives us some confidence we can get back to where we should be at last for Q4 and into 2023 with positive cashflows..

[temujiin] 23/10/2022 23:57

HUM are suggesting somewhere between 24 and 34k oz for Q4. Corica Mining Services probably want to make a good first impression seeing as they have the Kouroussa contract, and may well be doing HUM a signing on favour.

Hopefully 26k is more at the the minimum amount we achieve.

[borderterrier1] 23/10/2022 23:46

CreditCrunches That depends on how much Del Boy and Daddy can cream off the top doesn't it? If you didn't read the VERY convincing information that Trader 465 put on here recently perhaps you should? On second thoughts, probably not, it would be a complete waste of your time.. Even though some shareholders on here endearingly refer to this company as "WE this and WE that." suggesting that as shareholders they believe they have some sort of control. They don't.

[creditcrunchies] 23/10/2022 23:38

Looking on the latest TTM figures it's got cash at 0 when they had 32.6 Million in 2021. The working capital is now -28.9 million when it was 12.2 million in 2021. The net debt has shot up to 96.8 million. The alt-z score on solvency is saying 0.14 in deep distress the max level in this metric is 10. I mean this isn't looking viable. Especially with rising bond yields and falling gold price. How long can they keep this up?

[plat hunter] 23/10/2022 22:55

Depends on the grade of course but not impossible, Q4 has historically been the bank season for HUM.

[dickbush] 23/10/2022 21:20

HUM needs to produce 26,000 plus oz this qtr (assuming no inflation in costs between the 3rd and 4th qtr) to get AISC down to $1,400.

[plat hunter] 23/10/2022 20:02

Hopefully within a couple of years of kor production, we might be in a position to make the transition to a miner/operator company... Not a fan of having a third party to be able to blame. It's like blaming your sibling for something whilst they're not around to defend themselves.

[laurence llewelyn binliner] 23/10/2022 19:32

#Temujiin, indeed, and it was very disappointing to find the 5 new shovels bought in which should have fixed the problem have also suffered down time from breakdowns, machine running hours are all down to maintenance and having on stock the parts you need when you need to fix them, Junction have comprehensively failed at this but do now have support from a major which can supply or help with parts/knowledge, hellishly frustrating but it is an outsourced mining contract service which we should not really need to get involved with, but here we are and stronger for it going forward, we may see Corica phased into Yanfolila over time to run both.. :o)

[temujiin] 22/10/2022 21:56

year end 2022 production guidance range being ''conservatively'' lowered to between 77,000 - 87,000 oz (previously 87,000 - 97,000 oz)
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Obv HUM have missed their targets pretty much for 8 to 9 Q's, but out of interest they are very bullish on Q4 given the above para.

So far they have poured 52,388 oz this year. Given the 'conservative' target above, they are suggesting 24,612 to 34,612 oz in Q4.

Given HUM were 3 weeks into Q4 before they made the revised 77-87k 2022 production statement, I'm mildly hopeful Q4 will be 25k oz +
...... but this is HUM so prepared to be disappointed ;-/

[borderterrier1] 22/10/2022 20:26

Trader465 Held to account? Who knows? You posted a huge amount of information on here and if in the future it ever comes to light that there is something "fishy" I believe lots of investors will be understandably very upset. Golden Bull for example said he lost his life savings. It may take years, but some of those that have lost heavily here may decide to take this further and some of them have very long arms. I'm just stunned that this disturbing exhibition of incompetence is allowed to continue.

[wskill] 22/10/2022 20:05

Unfortunately we have now been put into a position by present management where a 15p offer will be well received. I did hope that Ruffer would be proactive in ensuing a proper management will be in place by now.

[trader465] 22/10/2022 15:35

Stephen has done a grand job of milking the HUM cow, will he ever be called to account?

[borderterrier1] 22/10/2022 15:22

Gentlemen. This morning I tried several times to contact Hum through the contact link on their web. site. I suggested that they read some of the disturbing comments on the LSE bb and on here from other disgruntled investors. I also suggested that Betts should be removed at all cost. For some reason, despite trying several times, the e mails will not go through.

[dickbush] 22/10/2022 14:02

No. It doesn't. She was useless but, at least, she had the integrity to resign when her policies were given a big thumbs down by markets. Betts should have done the same two years ago. Unfortunately for us, Betts is surrounded by a BoD that has shown no concern for shareholders' interests by forcing him out.

[1knocker] 22/10/2022 11:55

Does this management remind anyone else of the Liz Truss government? An opportunity to strengthen the board with a new MD now - she will be available to take on the job by the end of the week.

[laurence llewelyn binliner] 22/10/2022 11:47

Some strong buying into the close last night, the stand out trade of 1M at 6.25p printed..

USD 115M Kouroussa CAPEX
USD 85M debt less inventory
USD 37M debt facility remaining inc the Coris +15M and +20M tbc
USD 20M deferred CAPEX
USD 95M CAPEX (+20M deferred element)
USD 51M/95M spent with 44M remaining and 37M credit left
Yanfolila Q4/Q1/Q2 cashflows to cover the balances

Tight but achievable before Kouroussa cashflows kick in, but zero room for slippage and any unscheduled costs..

[creditcrunchies] 22/10/2022 11:11

Well good luck with it I say for those holding it might come off the risk level is very high though with the debts

[sleveen] 22/10/2022 09:47

Director purchase? (cough)