Hummingbird Resources Share Discussion Threads

[zhockey] 09/2/2023 16:18

Below the placing price, pretty incredible. I guess no one has the patience considering this is now greatly de-risked.

[bo doodak] 09/2/2023 16:09

LLB, I get what your saying, but for me this is really about a fundamental issue of trust, on corporate governance, not production issues.

HUM have always displayed a penchant for deliberate ambiguity, and its what we are not told that matters here yet again sadly. IMO there should still be plenty time to add once this issue either crystallises, or evaporates away.

[plat hunter] 09/2/2023 15:47

Q4 and Q1 at Yani was and will be good because the ROM pad is stacked, The ROM pad will be worked down in preparation of recieving the KEUG material in H2.

IMO there will be a good several weeks where this transition impacts both the grade and volume of ROM which can be processed hence the 90k Yani guidance.

Stacking for Q4 and H1 brings in the urgent cashflow without the increased costs associated with going underground. I believe this strategy was chosen primarily to try and avoid the CIG 2nd tranche

[laurence llewelyn binliner] 09/2/2023 14:59

KE is a 2.99 g/t 105,000 ounce 1.1MT resource, and we averaged 2.45 g/t for Q4-2022

Roughly half the 2.99 g/t ores were blended with ROM 1.90 g/t ROM ore to get the 2.45 g/t blend we achieved, so at the current run rate KE will last us around 6 quarters, BUT we will be into KEUG in Q4 at 3.99 g/t so the blend grade will either increase or the pit life will extend.. :o)

#DB, guidance at 80-90 for Yanfolila is very conservative IMO, current run rate is nearer 110, but given the last 2 year history of missing guidance they will have built in some safety for the rainy season and any difficulties that get thrown up over the year, my 125,000 estimate was similarly conservative pending Kouroussa start up then ramp up, but 145/150 could be achieved if we have no misses..

[dickbush] 09/2/2023 14:54

Just a thought: the Mali government got 10% of Yanfolila for free and, I think, paid for 10% of HUM at 22p. What's its position now and how thrilled will it be with the potential 2nd tranche of equity (never mind the first tranche)? It's one thing to treat us as mugs, it is quite another to p-off a (military) government.

[dickbush] 09/2/2023 14:34

Thanks, Temujiin. Now all I need is the AISC for Kouroussa in its first full year. In its absence, I'm going for

90,0000 from Yani and 55,000 from Kouroussa for 145,000. This, of course, depends on NO SNAFU's!

In the absence of information on Kouoroussa's ASIC, I'm going to be conservative and suggest the combined effort produces an AISC of $1,420, and $1,200 for the 4th qtr when Kouroussa is at full production of 35,000 oz.

Not worth the paper it's printed on, I know, but I like to have some idea.

PS I still don't understand how Yani goes from producing 28,264 oz in the 4th qtr to an 80-90,000 target for 2023. At the AGM last year Kocken said HUM would be exploiting KE into 2023's first half. If Betts is concerned about getting net debt down I would have thought its tonnage could be exploited through the 3rd qtr or thereabouts.

FWIW : $(1880-1420)*145, 000 = $66.7 mil. No idea what that would make EBITDA. (4th qtr EBITDA lower than the net value)

[borderterrier1] 09/2/2023 14:23

Kenny You are right of course. But anyone who took the time to read the glowing 73 page report from the Pied Piper, Frank Campbell would realize that the report was pure B/S. IMO (and that of many others) pure pump and dump tactics which (as I understand) is actually ILLEGAL isn't it? But it is obvious now that these guys are well and truly out of their depth and incompetent. How can any of them possibly justify their ridiculous salaries for such an abysmal performance?

[bo doodak] 09/2/2023 14:16

There seems to be an assumption the company must mean an AGM. But that's not what they have stated - just the 'general meeting'. I'd suggest there is pretty good chance we can look forward 'shortly' to an EGM, long before the a June AGM.

''The full consideration of US$15 million has been received by the Company and is being held on deposit pending the relevant share issues and/or return to CIG to the extent the necessary approvals are not granted at the General Meeting. The Company intends on publishing the required shareholder circular and notice of General Meeting shortly and a further announcement will be made as and when appropriate.

[plat hunter] 09/2/2023 13:50

32k I think 😂😂😂

[temujiin] 09/2/2023 13:25

Indeed Platt. What was your forecast for Q4 ;)

[plat hunter] 09/2/2023 13:21

Where as I think we'll get 90 out yani and 50 out of Kor this year for 140.

2024 I expect 110 from Yani and 140 from Kor for a group total of 240k.

I do appear to be the more bullish of the group at forecasting though.

[temujiin] 09/2/2023 12:54

Kouroussa Gold Mine highlights

Kouroussa is forecast to be a high-grade, low-cost mine that will produce between 120,000 and 140,000 ounces ("oz") for the first three years of production, and an average 100,000 oz over the initial seven-year life of mine ("LOM"), with upside potential with further exploration.

RNS 16 Dec 21

[dickbush] 09/2/2023 12:13

Based on the 4th qtr, Yani must produce a bit more than 90,000 oz, although, on the same basis, the average grade or ore processed for 2023 must be taking a 20% hit (or some combination). Betts setting a target he can exceed for a fat cash bonus in 2024?

I know Kouroussa is supposed to produce over 100,000 oz over its current mine life, but I can't find what it is supposed to be in the first year or two which is probably higher...or an estimated AISC initially.

Anyone have that information? I've spent all morning looking through HUM's RNS's but can't find it.

[temujiin] 09/2/2023 11:38

DB, think he's assuming approx 85k for Yani, and 40k for Kour on ramp up.

[dickbush] 09/2/2023 11:21

LLB Can you tell me how you get to 125,000 oz for 2023 i.e. production and AISC for each mine?

[temujiin] 09/2/2023 10:48

For the record, that 128k at 7.6 isn't a sale, just a transfer into isa. Obv indicated buys sells are often misleading

[kennyp52] 09/2/2023 09:02

You say “allowed”; to continue BT1 ..but how do you stop it ? Allege criminal activity ? Damage the share even more . Once these guys have had the shareholder money and got the gold pouring they are in complete control . Their salaries for failure are eye watering and they remain untouchable . Someone will lose a bundle of money one day and go looking for these types of incompetents !?

[borderterrier1] 08/2/2023 21:51

And a complete waste of 6 years of my time and my clients time. Honestly, I wish I had never, ever heard of Hummingbird 4KING resources. They are just a shower of incompetent buffoons and as my wealthy client from Dubai (who lost a packet here) said several years ago, after EXTENSIVE research, quote:- "They are a bunch of crooks." It is mind blowing that this is allowed to continue.

[amaretto1] 08/2/2023 20:01

Here here !!! This is a complete fiasco.... A very very risky bet long

[creditcrunchies] 08/2/2023 19:57

I remember when I was stuck with about 30k pounds worth of stock averaging down like they have been. Best move ever to dump them, made a large loss but made it back by trading up the sale proceeds on other stocks in a period of 4 months. Total waste of 2 years of my time as your funds are locked up praying you get a recovery rally. I'd never touch the shares of this company ever again.

[borderterrier1] 08/2/2023 19:29

I agree. Despite all the evidence, it's strange how some punters refuse to believe they have been well and truly shafted isn't it?

[trader465] 08/2/2023 19:04

I think he’s still hoping for a quid a share, at that price it will need over half a billion market cap after the dilution, there’s more chance of Dan Betts becoming King of England

[borderterrier1] 08/2/2023 18:23

Temujiin. You're not listening, please read my post below. I know you are hoping for a miracle but there isn't an unlimited time frame with this. These guys, especially the Ceo are obviously incompetent and should be removed if this has any chance of survival.

[zhockey] 08/2/2023 16:10

There was a lot of emphasis on ‘strategicR17; in the announcement, will be interesting to see if there’s substance in that or just lipstick.