Hummingbird Resources Share Discussion Threads

[borderterrier1] 21/12/2022 14:36

Arlington Fortunately, I can afford to swallow my loss here. As I explained, I did try to sell all my holding but the price rose for a very short time, my stop triggered and I was left with 140,000. If you can't afford to lose, what you say might be the best option for you.

[arlington chetwynd talbott] 21/12/2022 13:49

Is there not something to be said for selling just before the next set of figures - on the anticipation, in other words? There is often a chance to take a decent enough uplift that way and avoid RNS trauma entirely.

[plat hunter] 21/12/2022 13:40

It should be noted that these 3 assets are all non producing too, with a combined resource smaller than dugbe

[1knocker] 21/12/2022 13:20

Fortunately I have only a very small holding here. The percentage loss is eyewaterinw, but in ££ it is infuriating without being significant. My New Years resolution is to sell after the next set of figures are released in a few weeks. If they are ba, I shall have spared a few more quid against a wall by waiting, if good, even a few quid extra is better than a poke in the eye with a dirty stick.

Getting rid of some dross cleans up the portfolio. more importantly, it removes a pointless distractionn and assists me to focus on other holdings and shares on the watchlist with better prospects.

It is a step I should have taken in a year end clean up at least a couple of years ago. The early cut is usually the cheapest. Not many stocks which have been underperforming for half a decade and more ever come good. Moreover, while I shall salvage only a small sum, it will be the to hang up my investing boots if I can't put that money to better use than leaving it to languish in HUM.

If there is one thing we all know about mining stocks (true of other stocks too, but especially junior miners) the quality of the management is the most important single factor.

[trader465] 21/12/2022 12:14

Cinoib - I live is S/E Asia where I reckon the cost of living is about half that of the UK. How do you figure Portugal is 1/4 of the UK cost?

[trader465] 21/12/2022 05:41

All these years Dan Betts has been babbling on about creating shareholder value, meanwhile the share price has fallen from 167p to 6p and destroyed 96.4% of shareholder value, this takes a special kind of talent.

[temujiin] 20/12/2022 22:52

LLB, yeah agree with that and said it all myself. In theory the combination or Corica and higher grades should mean 25k minimum ....if .... all goes to plan.

It would be nice if they surprised to the upside, but in last two years that's not happened.

[borderterrier1] 20/12/2022 19:57

Cinoib I agree. Need to have more investors contact Hum through their site like I have several times and recommend getting rid of the grinning idiot. Only then does this have a chance. I'm actually surprised he dares show his face anymore he's made such a mess here. But then unfortunately the UK does seem to have more of it's fair share of delusional idiots doesn't it? Think Liz Truss etc.

[laurence llewelyn binliner] 20/12/2022 17:36

#Temujiin, Corica have added drill rigs, grade control rigs, excavators and guidance, they are market leaders for a reason and I see it very unlikely that their inputs will add up to nothing..

We were at 30,000 ounces before with the high grade ores, and now back into them we have every opportunity to get back there but it will be 1 step at a time, a Q4 of 25,000 will do for starters, but any more will be well received and help the AISC..

[cinoib] 20/12/2022 17:29

Bt. Just think another $240 and this will break even. Have never seen a gold miner fall so far so fast as this has over the last 3 years. If I was you I would have cut and run a longtime ago, as and when you saw the writing on the wall. Think Avocett was the last I saw like this and before that Minmet was another pump and dump.

[dickbush] 20/12/2022 16:17

Very disappointing price action today considering the gold price is over $1,800. I hope this isn't an indication that production will disappoint once again.

[temujiin] 20/12/2022 15:46

LLB, i'm half looking forward to, and have dreading the Q4 results, but it will be what it will be. At least PoG is trying to help a bit today :)

[borderterrier1] 20/12/2022 14:55

temujiin 8 quarters? You mean at least 40 quarters surely? This is a complete train wreck.

[laurence llewelyn binliner] 20/12/2022 14:43

#Temijiin, only a few weeks to judgement day, 31.01.2022 for last years Q4 update... :o)

[temujiin] 20/12/2022 11:37

Sadly true, I'd say its been 8 quarters of ball dropping, but this one has a reasonable chance of being held. Am hoping for 27k, be ok with 24/25k, not happy sub 23k.

[borderterrier1] 19/12/2022 17:56

Temijiin TBTT is right. I did a huge amount of research here and so did a good friend of mine that invested far more than I did......and lost most of it. And we have had this conversation before many moons ago, right? The main problem is DB and the grossly incompetent management. Unfortunately, there is ABSOLUTELY NOTHING that you or others can do about that. Except perhaps suck it up like I do and pray for a miracle.

[temujiin] 19/12/2022 15:33

Temujin! Do your own research for once
==============

TBTT, I need your help!
Can you please point me towards maybe 3 or 4 of these 'far better projects' you referred to, similar to Dugbe's. I'd really appreciate it :)

2m oz+ reserves,
200k oz/year production,
AISC of approx $1,000.

[laurence llewelyn binliner] 19/12/2022 14:50

Kouroussa acqusition from Cassidy -

Initial consideration of GBP10M satisfied through the issue of 35M HUM new Ordinary Shares at 28.4p, the initial consideration currently represents approximately 9.1% of the share capital of the Company as enlarged by the issue of shares..

Additionally, Cassidy shall retain a 2% net smelter royalty on all gold sales by or on behalf of the Company over and above the first 200,000 ounces of its production and sales up to a maximum of 2.2m ounces of production and sales, so we get to benefit from the first 2 years cashflows at 100% to smash the debt down..

98% project IRR at 1,750 POG and a sub 1000 AISC..

Terrible metrics, no wonder Cassidy only wanted 10% of the company to enable the deal to move forward.. :o)