Hummingbird Resources Share Discussion Threads

[creditcrunchies] 03/11/2022 08:36

Gold will probably fall for longer than investors think it'll be well into 2023 before the Fed pivots then everyone will be buying it again.

[dickbush] 03/11/2022 06:53

Fed Chief's Press Conference: "We still have some ways to go...the ultimate level of Interest rates will be higher than previously expected."

Clearly, The Fed is ignoring the slowdown in inflation-the Rogers Commodity Index is about flat over the past 8 months-and the impact the strong Dollar is having on the rest of the world's economies.

[kennyp52] 02/11/2022 23:17

Yeh I get it BT1 . The fact this has potential too .. keeps you hoping it will re-rate . I get it.

[borderterrier1] 02/11/2022 14:47

Cinoib. Fear and greed. No investor wants to admit defeat, especially when they have done their due diligence based on the information provided by the company which we now know was largely B/S. So I hung on in desperation, as many here have also done and unfortunately ignored advice from another investor friend from Dubai who did some extensive research..... and eventually bailed out with a huge loss. I should have done the same, but don't forget DB is an ex-stockbroker and very good at throwing strategic bones......just as he is doing now. Luckily, financially for me this isn't a big deal......but there is no doubt we have been taken for a ride and that is upsetting. These guys are obviously incapable of delivering what the say they can..... but still continue to pocket their large salaries. In my book, that is illogical and shouldn't continue. But it no doubt will.

BTW as I said on here several years ago, I still suspect serial ramper "BushyTailed" on the LSE bb is actually related, possibly Del Boys brother? Who else would even now defend this $hit show?

[cinoib] 02/11/2022 14:17

Bt so why hold at all when you know it will go to the wall. I dumped my last lot at 18 then had a nibble on the deadcat bounce from 11-15 so recovered some. I would take the hit now or you will loose the lot in due course as this will never recover. I di with my last few Rmm and see where it is now. People crying fowl an one has is house on it and fears the Mrs will kill him if she finds out. You could have worked them at 25k a time so as to get a reasonable rate rather than trying selling a one lump.

[borderterrier1] 02/11/2022 14:09

kennyp52 I've been here since 2016. Tried to dump when you suggested, some sold, share price dropped below sell price stop and some didn't so I have unfortunately been here since. Hung on hoping for a miracle but DB is unfortunately still here.

[kennyp52] 02/11/2022 08:35

BT1 .. 28p … you been bashing this for the last 3 years at least . Why didn’t you dump when it was over 30p in early 2021 ? Don’t understand . Or did you have a huge holding and this is just pin money you are keeping in just in case it does ever come good ?

[borderterrier1] 01/11/2022 23:26

Cinoib I sold most but I still reluctantly hold 150,000. My average price was 28p so I can't ever see me breaking even.

[temujiin] 01/11/2022 15:48

TBTT, yes I know you have helpfully as a non shareholder, been telling us HUM are going bust by year end. We will see what difference to the poured gold figurers, the new rigs by a company as used by Barrick for two of their gold mines, now with the higher grade ore being dug, will do to the figures.

We'll both have to wait 10 weeks to know who's view is more accurate.

[laurence llewelyn binliner] 01/11/2022 15:29

#TBTT, with 2.8 Moz of gold reserves, unrivalled exploration potential and a recently completed feasibility study, this project has some of the most attractive economics of any development project in the region and it is the objective to now maximise value for all stakeholders..

We will see the results of the strategic review when it is done, and where they go with it next, but we will soon be able to attribute 51% of the VEIN MCAP to ours when the consolidation is complete..

[tigerbythetail] 01/11/2022 15:20

No, LLB, Dugbe is being hawked around in the hope that somebody will buy it. They won't - there are far better projects out there than a high capex high risk low return mine build in, ahem, Liberia. It's not even close; Dugbe is a mile away from being viable in the current economic climate.

[laurence llewelyn binliner] 01/11/2022 15:14

ESAN have doubled down with the latest VEIN raise (IMO), and now VEIN will own 100% of Dugbe, and HUM will own 51% of VEIN..

So far as the project not being viable, clearly VEIN/ESAN see it differently and Dugbe is being progressed towards a build.. :o)

Getting the mined/moved volumes up at Yanfolila from Q4 should be the easiest problem to fix, bringing in Coris and their new shovels is what they do as a business, training Junction in methods can only improve results..

[tigerbythetail] 01/11/2022 14:46

No, Temujin, a company with a market cap of £20m isn't in any position to raise a meaningful sum via an issue of equity. Perhaps a big raise should have been carried out back when the share price was in the 20s. But that chance was missed and it is too late now.
Q4 is in fact critical to Hummingbird's survival. The last RNS specifically warns that Coris could pull the plug if they don't hit their targets - which (as past experience shows only too well) is unlikely.
Finally, today's news abut Dugbe doesn't really change anything. It's just a paper shuffle.

[temujiin] 01/11/2022 14:29

Imastu, yes it says
if Q4 is this,
And they can' this,
and they can't that,
Then they have to do xyz.

HUM always have the fall back position that is equity, Q4 isn't the make or break quarter anymore than Q3 was imo, but IF its as bad as Q3, big if given the new rigs etc, and IF Coris arent cooperative as they have been, then hard decisions which include equity will certainly be on the cards.

[alhambra1] 01/11/2022 14:21

We need a bit more than that - but positive progress all the same.....

[dickbush] 01/11/2022 13:40

Dugbe deal done.



Now all we need is the Fed to release a statement that isn't aggressive re rate increases after the one we are about to get, and gold just might get moving up. We'll soon see.

[chesty1] 01/11/2022 13:37

Still being sold down

[imastu pidgitaswell] 01/11/2022 13:33

"Q4 isn't make or break for HUM by any means"

In their update, less than two weeks ago, they explicitly stated:

"However, should the Q4 production underperform management expectations and in the unlikely event that either this funding is not agreed or if funding on commercially acceptable terms cannot be procured from an alternative third-party funder, the Company will have to take steps to preserve its cash resources, which may include delaying certain capital expenditure"

Given this outfit's propensity for omitting important pieces of information from their announcements, the fact that they stated this should make it very clear that they are staring at the end - if they do not meet the guidance, which is some 50% higher than they achieved in Q3.

If they 'delay certain capital expenditure' - which is 100% Kouroussa capex - it is the end. Kouroussa will not be completed under this ownership structure and the theoretical pathway to some form of cash generation and debt reduction will not happen. Which will be game over.

Do you honestly not see that?

[creditcrunchies] 01/11/2022 13:33

After that Q3 RNS enough was enough it's become blatantly obvious they're bleeding cash to the point it'll affect their ability to finance day to day operations it's just a question of how long

[temujiin] 01/11/2022 13:11

Hi LLB, y3ah I can see a reasonably bright future assuming grades are mid 2's g/t and they feed sufficient ore this quarter.

Q4 isn't make or break for HUM by any means, but SH patience has gone and market is a long way from believing management.....but Corica and the high grade do provide a light at the end of the tunnel, providing its not another train:)

[laurence llewelyn binliner] 01/11/2022 12:02

#Temujiin, very roughly the AISC will come down USD100/Oz per 1,000 ounces poured, so it is all there for the taking in Q4 at 24/25,000 ounces compared to 17,000..

We know volumes were down 44% in Q3, and the new/secondary fleet has a lot of making up to do, it can be done, but boy do they need to deliver this quarter after 18 months of serial disappointments..

To be fair to AK, all his mitigation measures, protocols and 8 point continual improvement plans will amount to didley squat if the volumes are not there, you cannot measure performance progress unless the volumes come back to a consistent, repeatable run rate, and we should not really have to get involved at all with a contracted out service, but here we are going the extra mile to repair and recover our position..

[temujiin] 01/11/2022 11:15

CC, they have been losing cash, quite a lot this year, but if we are to believe them, and I mildly do this time, then the combination of new mining equipment plus a new bigger mining outfit plus best grade ore, "should" mean they actually make a few million in Q4. Won't know until Jan and the market isn't convinced that for sure.

[creditcrunchies] 01/11/2022 10:41

That's the problem they are losing -400 every ounce they sell when you factor in costs. They'll be in this situation until end of Q2 they have zero cash now it's all gone. So the big question is how they get finance to continue operations? There are assets to dispose but going down that route what gets left for small investors. I'd rather not wait to find out

[tigerbythetail] 01/11/2022 10:05

"Never average down"; "ride your winners and sell your losers"; "take profit when you can"; "price is what you pay, value is what you get"...
How many investment disasters would have been avoided by following these simple maxims!
(Not that it so easy to have the discipline to do so).

[cinoib] 01/11/2022 09:26

BT. So do you still hold some or did you bail before you lost too much. There has been a similar story over at Rmm where I told them many months ago to stop buying on so called good news, but as usual they all think they know more than the intelligent guy does. Now they are all crying wolf as it was suspended late last week. You got the usual, is so cheap, buy more, top up before it goes up. Blow up would have been a better phrase.