Hummingbird Resources Share Discussion Threads

[corrientes1] 03/3/2023 09:12

Virtually all these tin pot company owners, couldn't care less how efficiently their operations are run, so long as their salaries continue. If the money runs out, they can always do a placement, rights issue or similar on terms that will protect the major lenders should anything go wrong. Anything to keep the money rolling in.

Peronally, I'm into CORA at a reasonable price, and just hoping that they can learn lessons from the comedy of errors called HUM.

At the end of the day, yes, mines are mostly holes in the ground with liars on top.

[laurence llewelyn binliner] 03/3/2023 07:00

Alwaha Fund Limited up from 3.54% to 5.02%…, another II building their position and believing in the companies outlook..

IF the share price picks up, it is worth considering the 1 for 17.75 options/excess options in the OO at 7.79p..

[borderterrier1] 02/3/2023 21:27

temujiin Actually several years ago DB said openly in a podcast that "We don't need the share holders money now" At that time is caused some concern so perhaps it has been deleted since? But just shows how much he thinks of "share holder value".....doesn't it?

[creditcrunchies] 02/3/2023 21:12

No need to get personal mate it's only the data and reality of this company. It's your money do what you like with it.

[dickbush] 02/3/2023 17:36

Alwaha Fund Ltd based in the Virgin Islands reported its holding as 5.02%. It looks like it has added circa 9 mil shares.

[temujiin] 02/3/2023 08:14

and they need your money
=============
They actually said in the RNS they 'don't' need the OO money. Which is just as well as they aren't going to flog many at 7.79p if you can buy them for less in the market and also not dilute yourself.

I voted against all of the Res's but might buy about £13 worth just to round up my shareholding without incurring dealing costs.

[creditcrunchies] 02/3/2023 07:50

I can't believe people are falling for this a debt raise normally comes in at a huge discount to current shareholders yet you're all too happy to part with the money at the top end of market prices. You know these guys miss their delivery they treat PIs like idiots now they're being super friendly because they've run out of cash and they need your money. That's the way I see it

[plat hunter] 01/3/2023 15:04

No but only on account that I took some at circa 7.5.

Will be voting yes though..

[1knocker] 01/3/2023 12:31

Is everyone taking up their rights? It will be very interesting to see the % takeup. It will tell us how numerate the Hum shareholders are. Whether that information will inspire confidence that we are invested alongside an astute bunch of investors may be another matter.

[dickbush] 01/3/2023 12:15

Average gold price in February $1,854.

[arlington chetwynd talbott] 28/2/2023 12:33

When these guys are able to make a purchase, they should make it meaningful. There is not any comfort to be had from this modest bed and ISA and not a lot of comfort to be had from a guy like this owning a percentage of the company that begins 0.0.

[dickbush] 27/2/2023 18:27

polaris, there are restrictions attached to the shareholding. We have very few details. I would be surprised if Betts has left himself open to being ousted. It is more likely that those details include keeping him in his job...until he has, at least, picked up his bonuses for 2022 and 2023.

[polaris] 27/2/2023 10:38

I think that the dilution vote is inevitable but, like several others, see it as securing the mine delivery. If bank or CIG was of a certain mind, call in the loan and take the whole asset in a fire sale. They have not done this, just taken the pound of flesh! Betts and co must go in the short to medium term. That CIG holding will all but assure changes in the management structure.

[dickbush] 27/2/2023 10:22

So, assuming that CIG gets its second tranche, it will have some 27% of the outstanding shares and Cassidy will have circa 10%. I have the total outstanding to become circa 573 mil.

[laurence llewelyn binliner] 26/2/2023 14:40

#PH, Cassidy took an initial consideration of GBP10M satisfied through the issue of 35M HUM shares at 28.4p
A deferred consideration of GBP10 for every ounce of gold reserve published in excess of 400,000 ounces (subject to a maximum of 1M) settled through 22M new shares to the underlying shareholders of Cassidy (the "Cassidy Deferred Consideration Shares") at 6.47p

So, a 57M holding at 19.8p average + the 2% NSR, at an 1,850 POG the NSR is currently worth around USD35M on top which is all gravy once up and running so Cassidy absolutely need us to be in production to capture this part.

The Kouroussa Gold Project, a near term development asset with a high grade mineral resource of 1.18Moz of gold at >3g/t (so far subject to further exploration)..

Pleased to report a better average than Cassidy, however no NSR.. :o)

[plat hunter] 26/2/2023 11:25

Even for circa 24p Cassidy concluded that their best way to see a return on their liquidated asset was to take equity. They obviously believed in Kor then and still do, even though they could have just taken the cash and ran.

[johnhemming] 26/2/2023 10:50

I will be following Plat into the aye lobby for quite similar reasons.

[plat hunter] 25/2/2023 19:16

Thanks Tem...that does sound like it answers the question

[temujiin] 25/2/2023 18:18

Thanks Jay.
------------------

FYI Platt

'CIG has also entered into a relationship agreement with the Company and Strand Hanson Limited, the Company's nominated adviser, which imposes certain obligations on CIG in its position as a substantial shareholder in the Company to ensure that the Company will at all times be capable of carrying on its business independently of CIG and the members of CIG's group.'

[plat hunter] 25/2/2023 17:59

My biggest concern is whether or not Coris will be looking to add someone to the board or not.

[plat hunter] 25/2/2023 17:56

Not a fan of the surprise dilution for obvious reasons but the way I see it now is that until Kor is pouring, HUM could go to the wall if something else trips them up.

Voting yes turns a maybe into a definite and in the grand scale of it, against 400 million net assets, 60million a year net earnings plus dugbe, the enlarged issuance doesn't make that much difference.

If you want a potential £1 by this time next year then vote No. On the other hand though if you want a definite 75p by this time next year then vote Yes.

[jay083] 25/2/2023 15:08

Good summary of the interview Temujin,
I was also going to vote against the resolutions, but now feel neutral on the matter.

The other positive is that management will have a 25% shareholder (who is also effectively their banker) to keep them in check.