Hummingbird Resources Share Discussion Threads

[dickbush] 01/11/2022 08:17

The gold price averaged $1667.2 in October.

[plat hunter] 31/10/2022 07:42

Looks like an updated website for HUM, although I hadn't been on there for a while myself.


Apparently and according to trader, the better the website, the greater the company so this must be it now.

[borderterrier1] 29/10/2022 23:49

CC Like I was told several months ago, this is going under. Why do you think the financial guy bought hardly any shares? He knows.

[creditcrunchies] 29/10/2022 18:47

I see VOG got suspended they ran out of cash as well, the cash position, negative working capital, debt and the long term chart look very similar

[borderterrier1] 28/10/2022 20:28

CreditCrunchies I should have done. I once held 400,000 shares here and two of my clients held a lot more. I
sold some but I was swayed (as many were) by the glowing 73 page report from Frank Campbell who won the visit to the mine in 2017. If you haven't read it perhaps you should? It was complete B/S as were many of the other news items about this. The B/S about the "experienced team with over 40 years of mining experience in W. Africa" etc.? All complete hogwash. It was soon obvious that someone with narcisstic tendencies and lack of experience was damaging the progress here. The Ceo should have stepped down and let someone more capable take the reins........but arrogance and greed has no virtue does it? How can ANY company continually justify paying the Ceo what Betts has been paid for such an abysmal performance? The alarming amount of nepotism and dubious past history that came to light here after extensive probing? Read the documents submitted here by Trader 465. It shouldn't be too difficult to realize that what he says hits the nail squarely on the head?

Under "normal" circumstances, the Ceo would have been removed for gross incompetence.........for the.the benefit of the shareholders but this guy obviously doesn't give a rats a$$ about them. And when the finance director buys a staggering 150,000 shares perhaps that should tell us all something?

[creditcrunchies] 28/10/2022 20:03

I can't understand why you didn't sell.

Looking at the TTM status now on Stocko it's got Cash at £0 (£32.6 Million in 2021), Net debt at £96.8 Million, Working capital at Minus £28.9 Million. The new revenue stream has an 8 month wait for the "first pour". They're bleeding cash at the same time gold spot is falling. It's reporting constant losses, missed targets every time. If they make it 8 months they need cash where are they gonna get that? What deal to cover operational overheads which is bleeding cash? That'll probably mean a big dent in disposable assets

The bankruptcy risk is very high (Z2) score of 0.15 out of 10. It fails on three counts:
Are liquid assets a significant proportion of the assets? FAIL
Are the assets relatively productive in terms of earnings? FAIL
Does firm value compare favourably to its liabilities? FAIL
The only area positive is:
Do reinvested earnings make up a significant portion of the assets? PASS

It's just too risky for me now the metrics just keep on getting worse.

[plat hunter] 28/10/2022 16:49

The beneficial owner is it... gotcha, yeah makes sense i suppose, can't imagine nominee's and platforms taking that responsibility on behalf of clients in a world of execution only services

[borderterrier1] 28/10/2022 15:46

Gentlemen, I have been invested here for longer than most, over six years. Although I now live permanently in the US, several years ago when this started failing I made a statement that I knew more than most about this because I had information from "in the know" friends in both Birmingham and Nottingham.

Trader 465 posted lots of documentary evidence on here recently that was very similar in content to what I had been told years ago. Nobody believed me back then, and this miserable share price is the inevitable result.

Perhaps the most disturbing thing is the fact that although at that time I had over an hours telecon with Hum management asking for answers to my list of questions unfortunately, I was ignored then..... and that still continues today.

DB and the management have zero interest in the shareholders and chose to blatantly ignore them.

[kinwah] 28/10/2022 14:53

Plat Hunter, just to be totally accurate TR-1s are submitted to the Company and the Company's Nomad by the beneficial owner not the registered owner. Often shares are held in a number of different nominees therefore only the beneficial owner knows how how many he has in total and it is his responsibility to notify. True about the lack of policing. I've seen some TR-1s submitted years after the triggering transaction and very often not at all.

[temujiin] 28/10/2022 11:51

Well we have an interesting division of opinion between ex and non shareholders who helpfully advise HUM are on the brink, and shareholders who think HUM may finally have sorted out the Yani mine.

I'll keep a of copy of your latest prediction TBTT and put it by the one where I think you said that Kouroussa would need a huge equity raise and not a Coris loan.

[tigerbythetail] 28/10/2022 10:37

Well, would you want to defend those results in public?
Of course Dan Betts has a very important hair-cut appointment which can't be moved.
I'm still not quite sure how this story ends. IMO, it will either be:
1) Coris pull the plug and take the assets (i.e. Kouroussa);
2) A very low ball insider driven takeover (ESAN?). Think 5p per share. Threat from board of bankruptcy if shareholders don't agree.
FWIW, I don't expect HUM to survive as is for more than 3 months or so.

[creditcrunchies] 28/10/2022 10:35

You could always check their phone to see if anybody answers

[plat hunter] 28/10/2022 09:42

No Q3 webcast or Q/A.

I wonder why

[blackhorse23] 27/10/2022 22:31

Gold index dropping in line of rate hikes

[borderterrier1] 27/10/2022 18:52

Temujiin. IMO You are a sucker. Over several years the "management" here has thrown the "investors" strategic bones to make them believe that everything is honky dory, on the up and of course, (fear and greed scenario) some are sucked in to buy more. It's just a clever ploy.......but many will no doubt fall for it.

[temujiin] 27/10/2022 18:36

I obviously agree with that LLB. Q4 needs to confirm it but I suspect directors know already that Corica have made a posiitive difference and that the grades are up, hence their 2.15m share purchases.

[borderterrier1] 27/10/2022 18:10

TBTT Edited.

[laurence llewelyn binliner] 27/10/2022 16:13

#PH, take advantage of the ‘unfortunate’ circumstances and events while they are on offer, the tide can turn quickly as the tonnages ramp up again, quite convenient for recent director buys though don't you think.. :o)

[plat hunter] 27/10/2022 15:41

If you haven't yet worked out what the game is here yet then this is going to be one hell of a lesson for you.