Hummingbird Resources Share Discussion Threads

[plat hunter] 22/2/2023 08:40

Credit, that 2 mllion will get taken up by the bod

[zhockey] 22/2/2023 08:28

Tiger can you list those better prospects?

[tigerbythetail] 22/2/2023 08:08

So, yes, no imminent bids for Dugbe. I still don't believe it's saleable goods - there are simply many better gold mine projects out there. Dugbe is somewhere towards the back of a very long queue - high capex, poor jurisdiction and so forth.
And another kick in the teeth this morning for existing shareholders with the announcement of further dilution. Notable is the announcement of 16.8% support for the issue of the new shares - that's not so much.
The conditions here are ripe for a shareholder rebellion to finally force the incompetent Dan Betts out. But will it happen?

[creditcrunchies] 22/2/2023 08:04

Seems like they want you guys to pay up at a premium to plug their cashflow problems unbelievable really.

[wskill] 22/2/2023 08:02

Yes 1 for 17 is not the end of the world lets get the 2nd mine up and running and Yani producing cash flow.

[creditcrunchies] 22/2/2023 07:53

More shares at a price higher than the market to plug the cashflow gaps he obviously thinks shareholders will buy at any price to fund them.

I've never seen a stock before where major shareholders only make 19% of the toal value owned usually that number is a lot higher. When you take away private investors - Edward Charles Hemus, Dan Betts, Richard Barton the institutional investors actually only make up 15%.

[zhockey] 22/2/2023 07:51

Why don’t they just place the ruffer shares?

[laurence llewelyn binliner] 22/2/2023 07:21

That takes care of the EGM / AGM question for the CIG T2..The placement will be used to strengthen the Company's balance sheet and provide improved liquidity to ensure the Company brings its second gold mine, Kouroussa, into production as scheduled for first pour by the end of Q2 2023, and to fast-track further exploration at the asset..Onward and upward.., it is more important to get the new mine into production..

[nickwild] 22/2/2023 07:14

why would you pay a 2% premium to buy more shares in the offer
see RNS

[borderterrier1] 21/2/2023 18:48

Plat Hunter Hum share price back down 30% here in the US......you're certainly showing us "how to do it!" Well done! Question for you. When you made the prediction:- "This will be a 10 bagger by Christmas" did you mean Christmas 2027? Or perhaps 2030?

[plat hunter] 21/2/2023 16:03

RBC capital markets, that's quite a name drop.

[zhockey] 21/2/2023 15:47

So no imminent bids if they are off on a marketing grand tour.

[dickbush] 21/2/2023 14:39

Pasofino Gold Appoints Financial Advisor
February 21, 2023

Toronto, Ontario--(Newsfile Corp. - February 21, 2023) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that further to the previously announced commencement of a joint strategic review process with Hummingbird Resources plc, RBC Capital Markets has been engaged by Pasofino Gold Limited as the financial advisor in support of the joint strategic review process.

Krisztian Toth, Chairman of the Board of Pasofino, commented:

"We are pleased to engage RBC Capital Markets, a global investment bank with a leading global mining team, to advise Pasofino on the strategic review process for the Dugbe Gold Project. We are delighted at the prospect of showcasing the Dugbe Gold Project internationally to unlocking shareholder value."

About Pasofino Gold Ltd.

Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSXV (VEIN).

Pasofino, through its wholly-owned subsidiary, owns a 49% economic interest (prior to the issuance of the Government of Liberia's 10% carried interest) in the Dugbe Gold Project (the "Project").

Pasofino has exercised its option to consolidate ownership in the Dugbe Gold Project by converting Hummingbird Resources Plc's 51% ownership of the Project for a 51% shareholding in Pasofino, such that Pasofino would own 100% of the Project (prior to the government of Liberia's 10% carried interest), subject to the receipt of all required approvals including the TSX Venture Exchange and shareholder approval.

[borderterrier1] 20/2/2023 16:19

CC What do you expect? These clowns have proved conclusively that they are incapable. Why would any sane person invest here? With the exception of LSE bb Hum mouthpiece BushyTailed of course.

[creditcrunchies] 20/2/2023 15:10

Looks like another large dump working through

[borderterrier1] 20/2/2023 14:33

LLB Dream on. Most have been predicting positives for six years but this share price still goes backwards.

[laurence llewelyn binliner] 20/2/2023 14:04

VEIN - 25.04.2022 - ESAN director appointed to the BOD
VEIN - 20.06.2022 - strategic review led by Ian Stalker
VEIN - 01.11.2022 - option to acquire the 51% HUM of Dugbe triggered
HUM - 01.11.2022 - Pasofino will issue to Hummingbird such number of common shares of that results in Hummingbird owning 51% of Pasofino on completion of the Consolidation
VEIN 13.02.2023 - We are delighted to announce the joint strategic review process being undertaken with Hummingbird to showcase the Dugbe Gold Project internationally and to unlock the tremendous potential and value of the Dugbe Gold Project..

#PH, like you, I suspect we have not yet received the 51% of VEIN as there are strategic plans in the making.. ;o)

[borderterrier1] 20/2/2023 13:09

Here we go again Plat! Whoooosh! ROFLMAO.

[plat hunter] 20/2/2023 12:56

HUM haven't yet received their 51% of pasofino issuance...So this joint strategic review, could very well see Pasofino's put get cancelled and just retain their 49% earn-in then to be converted into hum issuance.

As it stands HUM still own 100% of the project with Pasofino retaining their 49% buy in.

This is another big clue as to someone wanting the whole lot...Why haven't HUM received their pasofino shares yet?

[backmarker] 20/2/2023 12:36

big fall this morning. what's afoot ?

[plat hunter] 19/2/2023 18:52

Someone wants the lot... HUM have been operating like they're trying to achieve pre conditional milestones for the last 2 years imo.

200k+ ounces for several years and longer, plus dugbe and it starts to becomes M&A fodder in an environment of industry surplus cash piles, reducing debt options and falling reserves, pretty quickly.

[laurence llewelyn binliner] 19/2/2023 14:26

VEIN - 01.11.2022 - Pasofino announces exercise of right to acquire 100% of Dugbe
HUM - 07.02.2023 - CIG strategic investment announced
VEIN - 13.02.2023 - Joint strategic review process announced
FEB 2023 VEIN share price up +90%

Something is bubbling, ESAN/CIG/HUM/Dugbe..?

[plat hunter] 18/2/2023 16:03

Kor is built now too, so assets have got be nearer 300 million now as well.

[laurence llewelyn binliner] 18/2/2023 11:47

#DB, given HUM current MCAP of GBP34M, and VEIN CAD38M / USD28M which should be inclusive of the 51% of VEIN (51% cGBP12M), so we are either valued with 2 mines and 125,000 ounces for 2023, and 200,000+ ounces for 2024 at just GBP22M or we are undervalued by some margin..

Value will be added fast as the debt winds off, currently -USD115M / -110 net of inventory, the Kouroussa update for Q1 will be very interesting and an exciting Q2/H1 indeed .. :o)

[dickbush] 18/2/2023 11:34

Implied value of HUM's holding is circa $30 mil.