Hummingbird Resources Share Discussion Threads

[plat hunter] 16/2/2023 08:02

I suspect this was Ruffer selling..

20 million dumped, in one day at the back end of October...

[laurence llewelyn binliner] 16/2/2023 07:36

A surprise to see Ruffer reduce by 50% just as we turn a corner, but for every seller there was a buyer..CIG clearly see an opportunity to increase the value of their new 10% position, with their T2 pending..

[creditcrunchies] 16/2/2023 00:13

They used to hold over 40 million shares end of last year. So it looks like half has been dumped. The other institutions just hold small percentages. Hum had pretty low institutional investment, end of 2022 it was 28% mainly Ruffer holding that. So the institutions have reduced dramatically.

[creditcrunchies] 16/2/2023 00:03

Wow they've dumped the lot they were the largest institutional investor.

[whitehunter] 15/2/2023 19:24

They look to have sold about 19m shares since the previous notification

[plat hunter] 15/2/2023 19:20

Ruffer now below 5% post CIG 1

TR1 out

[dickbush] 15/2/2023 14:14

US Retail Sales came in at 3.0% for January m/m versus 1.9% expected. On its own that would provide the Fed with ammunition to keep raising rates. However, November and December numbers were weak. The 3 month rate of change annualised is, I think, 3.6%.

[laurence llewelyn binliner] 14/2/2023 15:04

#PH, not any more, the latest position for Ruffer is now 7.47%, but I am not clear if this is because they have been recently diluted as of 10.02.2023 with the CIG T1 raise..?

[dickbush] 14/2/2023 15:00

The CPI came in pretty much as estimated but the y/y inflation for both the Headline and Core were not reduced by much from December. Note that Shelter is some 40% of the Core and rising mortgages and the consequent rise in rents is having an effect. i.e the Fed's increasing rates is itself having an impact on the CPI, particularly the Core.



Retail Sales and Industrial Production due out tomorrow. Both expected to show strong bounce backs from December's very weak numbers.

[dickbush] 14/2/2023 11:02

FYI

The largest shareholder in HUM is AIMS Asset Management with an 8.74% holding. Assuming this is held by its Phoenix Gold Fund, even at HUM's present price it would represent almost 6% of the fund. Unlike Ruffer its holding would be important.

[kinbasket] 14/2/2023 10:41

Jedi, that was using a 5% discount and $1,700 gold. Using that table suggests at $1,850 and a 9% discount rate would take that down to circa $620 mil.

Even in a ZIRP world a 5% discount rate for this part of Africa was daft. Post ZIRP it's mooned out. West Africa was always in the 8-10% range but risk free is up 4%.

The build cost will also be inflating daily so there's further pressure on NPV. Pasofino have indicated a full review of this in the announcement.

After the NPV was released I discounted Dugbe as unlikely to ever be developed. However, HUM need cash so a sale at almost any price would be a win and a positive step.

[plat hunter] 14/2/2023 09:30

Anyone else realise that Liberia's president is the ex AC-Milan legend George Weah?

Was just having a Google for news and was like "why is this dudes name so familiar?"

[dickbush] 13/2/2023 22:45

Jedi, that was using a 5% discount and $1,700 gold. Using that table suggests at $1,850 and a 9% discount rate would take that down to circa $620 mil.

[plat hunter] 13/2/2023 19:37

Not sure what incentive anyone would have to buy dugbe when you can get HUM for 32 million

If anything this is looking like a HUM sale, with pasofino getting thrown into the mix too.

[1knocker] 13/2/2023 19:30

Personally, I would welcome pretty much any strategic investor, but preferably one which will not be unduly 'understanding' toward this BoD. We need investors with clout who will insist upon a much more competently run operation - or else.

[jedi k] 13/2/2023 19:03

With a NPV of 690M USD , what is the possible sales price and what is HUM share? Could pay down loans or make a special dividend?

[temujiin] 13/2/2023 18:47

Hopefully that gets sold quickly, but will probably take a year if it even does happen at all.

To date, several interested parties have engaged in discussions with Pasofino and Hummingbird in respect of the Dugbe Gold Project and each of Pasofino and Hummingbird are continuing discussions with interested parties. P

[dickbush] 13/2/2023 17:53

Pasofino up 12.2% currently, A$0.50-0.55 on the news. I'm sure the management at Pasofino want a deal asap but why would Betts contemplate a sale now that he's got all the financing HUM needs?

[laurence llewelyn binliner] 13/2/2023 17:20

Interesting development, and use of that key word again..?

HUM - 07.02.2023 - We are delighted to welcome CIG as a key strategic investor into the Company. As we bring the development of our second mine at Kouroussa into production by the end of Q2 this year, we see this investment as the first step of a partnership with the ambition of building a multi asset international gold producer built on strong foundations in West Africa.

VEIN - 13.02.2023 - Pasofino's board of directors has determined it is timely, prudent, and in the best interests of the Company and its stakeholders that Pasofino and Hummingbird engage in a joint strategic review process, in light of Pasofino exercising the 100% Vend-In in order for Pasofino to acquire the Dugbe Gold Project and given the expressions of interest received to date by the Company..

It is management's view that based on the foregoing, the initiation of a joint strategic review process with Hummingbird is required in order for the Dugbe Gold Project to be appropriately valued by the market and in order to maximize value for the shareholders of Pasofino.

I wonder if what CIG really want is access to a slice of another pie... :o)

[laurence llewelyn binliner] 13/2/2023 15:03

#Temujiin, thanks for sharing that reply, there should be no requirement for any more raises and it is simply a contractual safety net for them, the CIG T2 has yet to be voted on, do we know if there is to be an EGM or is the T2 on the list for the AGM..?

[1knocker] 13/2/2023 14:56

meanreverter, no one can ever be sure, but if you look at the company price movement over a couple of years, the movement of similar stocks over a similar period, and at the company's own business progress to see whether there are or not good reasons for a reversal, you can make a stab at deciding whether a sustained rise over a couple of months is evidence that you have passed the bottom. If it proves to be a sucker's rally, with luck you may be able to bail out again with a small profit or at least all square, provided you were not unlucky enough to buy into the very top of the rally.

Nothing is certain though, or we would all have retired from the game years ago as billionaires and would now only be concerned about thinking up new things upon which to spend our untold wealth.

[temujiin] 13/2/2023 14:49

Platt, I think I'd just get a load of old flannel, that's if they replied st all.

[borderterrier1] 13/2/2023 14:05

1knocker Great post, makes perfect sense, well done. But unfortunately, these brainless "investors" won't listen to you. They all know better, especially "10 bagger Fat Grunter" (Christmas 2019).

[plat hunter] 13/2/2023 13:49

So as we thought then.

Good work Tem, fancy replying asking them why they need to dilute us for the expediting of the Kor drilling rather than waiting 6 months for cash flows?