Share Name Share Symbol Market Type Share ISIN Share Description
Hummingbird Resources Plc LSE:HUM London Ordinary Share GB00B60BWY28 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 10.75 187,128 07:49:05
Bid Price Offer Price High Price Low Price Open Price
10.50 11.00 10.75 10.75 10.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 120.37 -9.00 -2.06 42
Last Trade Time Trade Type Trade Size Trade Price Currency
14:40:14 O 26,000 10.755 GBX

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Date Time Title Posts
25/6/202200:22Hummingbird Resources11,444
23/6/202212:13Hummingbird Resources (moderated)8,468
24/11/202017:07Hummingbird shares lifted by better than expected gold resource upgrade3
15/7/201815:04Hummingbird Resources 201818

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Hummingbird Resources Daily Update: Hummingbird Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker HUM. The last closing price for Hummingbird Resources was 10.75p.
Hummingbird Resources Plc has a 4 week average price of 10.65p and a 12 week average price of 10.65p.
The 1 year high share price is 22.75p while the 1 year low share price is currently 10.60p.
There are currently 393,607,987 shares in issue and the average daily traded volume is 361,127 shares. The market capitalisation of Hummingbird Resources Plc is £42,312,858.60.
plat hunter: Yup I've since changed my opinion on HUM part funding dugbe... As you say until Kor and yanfolila are derisked by Kor going into production, hum can't take it forward and the speed of progression at Dugbe put's it beyond HUM's economical ability. VEIN want it sold, HUM want it sold and there's half a dozen suitors in conversation with ESAN's ceo on the bod.
dickbush: LLB, Many thanks for the work to remind us of HUM's DFS for Yanfolila versus the actual outcome. I agree with your view that, on the DFS, Dugbe doesn't look a very attractive investment. Given what's happening to interest rates and, almost certainly, a very much more constrained lending environment in the short run (at least), all we have to look forward to on that front is successful drilling results or a sale. Kouroussa, on the other hand, does look like a little beauty. So, our hopes for the share price over the next 12-18 months depend on bringing that into production on time and, meanwhile, getting Yanfolila producing 100,000 ounces plus. Not forgetting, as always, the gold price, at least, holding current levels. The 75 b.p. rate rise by the Fed does concern me. I thought, with the mid-terms less than 5 months away, that the Fed would concentrate on avoiding a recession in the US rather than crushing inflation. I'm not so sure anymore.
lowtrawler: PH, Dugbe has never been a significant part of HUM's share price. It was always a potential upside and may yet provide cash if ESAN remain interested. What is clear to me is that HUM should not invest in Dugbe and instead try to monetise the asset in the best way they can. I believe Kouroussa could turn out to be a gem and I believe Yanfolila could yet be turned into a cash cow. I also believe gold is going far higher which will expand the value of K and Y. Although higher gold prices will make Dugbe economically viable, it is a decision for the future as spending $400m today on existing gold producers would undoubtedly provide a better return as gold prices rise than would investing in Dugbe. Had Dugbe maintained the PEA IRR of 31%, I think it would have stood a chance but for Liberia, it really needs to be over 30%.
polaris: It'll be interesting to see the final paperwork submitted and the completion of the back-in of the HUM economic interest into Pasofino. At that point we will see a credible valuation of the complete project and the valuation that carries into HUM EV, which seems under-represented IMO. The $400 M or so build costs are the next hurdle...enter ESAN and some form of farm-out. That would also ease any jitters on the funding for Kouroussa build given the continuing under-performance of Yanfolila. Still expecting better results from the latter for Q2 but the market continues to question. When there is a clear path to finish Kouroussa and get Yanfolila back on track plus a Dubge farm-out, i'd expect the HUM EV to shift significantly higher, which implies a (much) higher market cap. Market can be slow on the uptake so there may be little sustained action until Dugbe is all signed, sealed and delivered (i.e. HUM backed into it) and Q2 HUM results are out and audited.
lowtrawler: sleveen, if they go to production and achieve 23%, it is OK without being outstanding. The issue is that a FS has to be higher to de-risk project delivery. Everyone knows the risks around a major project - additional capex, longer timescales, higher operating costs etc. The advantage we have is very little is currently built into the HUM price for Dugbe. Let's see how they go about monetising it.
lowtrawler: To be clear. I think we both believe Yanny was an epic failure and HUM were fortunate with pog that it wasn't fatal. I think we also agree Dan is not capable of running a mine. Where I think we differ is I believe Kouroussa is a far better prospect than Yanny ever was and they now have a COO who will be able to ensure it operates effectively. This, together with profitable operations at Yanny, will more than justify a multiple of the current share price. If Dugbe can also be brought into profitable operation, there is a strong investment case for HUM. You continue to complain about Yanny and Dan's inability to run a mine. You need to consider what Kouroussa and Dugbe will deliver. Dugbe, at least, is professionally run and Kouroussa is directed by the COO. For these reasons, I expect both projects to be successful. The improvements required at Yanny for it to run profitably are minor and easily delivered. Stop dwelling on past failures and look to the future.
lowtrawler: BT, forecasts are an inexact science. The feasibility study for Yanny had anticipated a far lower cost mine and failed to recognise things like the rainy season problems. If HUM had delivered per the feasibility study, the reports would not have been hype.You appear to believe the reports were deliberately misleading. I believe they were flawed and rose tinted. Holding HUM to account for the poor feasibility study is entirely valid but blaming other reports for projections based on that study is illogical.Junior miners seldom have the skill to challenge details in the feasibility reports, put together by experts. They need the reports to present a strong financial case and often make optimistic assumptions. It is the difference between being untruthful and being optimistic. Look across the mining sector and you will see it time and again. Any experienced investor in the sector makes allowance for this. In the case of Yanny, the feasibility study was exceptionally poor and would have bankrupt the company had pog not come to the rescue.However, this is all in the past. Simple operational improvements at Yanny will allow it to be run at a profit so long as pog remains high. The key considerations for the share price are success of Kouroussa and Dugbe.
tigerbythetail: Well, results horrible, as expected. It takes something to operate a gold mine at a loss when the gold price is so high. The Chairman is off as well - I wonder why. Certainly, he has nothing to be proud of; he should have forced out Dan Betts years ago. That said, the next quarterlies are probably more relevant right now. Can HUM get production up and costs down? Especially as the gold price looks shaky in the near future. Key question here: HUM are using up some of the Coris loan to operate Yanfolila at a loss. The loan by itself was never enough to cover the cost of building Kouroussa and covering working cashflow. So there is now a hole in Hummingbird's finances. Will it be filled by: 1) A sudden radical improvement in the performance of Yanfolila, which together with a healthy gold price, leads to the the generation of sufficient free cash? 2) A sale of Dugbe for hard cash on the nail? 3) An equity raise? 4) A convertible loan? (Which would likely be no more than a staggered equity raise). You make your mind up and you place your bets. For myself, I think Mali is too unstable now to risk investing here, even without considering HUM's previous woeful performance.
laurence llewelyn binliner: #Troc1958, the DFS could well have been finished end of April, and the technicalities of the earn in agreement criteria box ticking now underway along with progressing a funding package, with a bit of luck it will all come together in the next few weeks and we will see some value added to the HUM share price . The last 4 quarters have been tiresome to say the least, but ore bodies are never consistent, we just need to grind through this low grade section and get the ROM pad blending up to >2g/tonne to drive down the AISC and get back into profit.. Q1 was dreadful but mostly due to down time reworks, it looks like we lost 4/12 weeks productivity which was never going to look good in ounces poured/sold terms, the digger issues are 4/5 sorted or 5/5 by now.. Dugbe PEA at a USD1600/oz gold price: Pre tax USD825M NPV (5%) | (USD627M post-tax) 34% IRR (31% post-tax) at USD 1,600/oz Gold ~2.9 years capital payback from the start of production USD627M LOM cash flow USD893/oz AISC USD821/oz Cash Cost
xcap1: CC, agree that's why I feel he should do the decent thing and source for HUM a top tier CEO, or he must be very confident in making a public statement (notwithstanding the usual disclaimers) that 2022 year end guidance is maintained If it is (and we will know with the Q2 results) and it is realised then and only will his credibility be restored. I also think the Board is bloated and he should be looking to sigficantly reduce G&A costs. Mind you if HUM can maintain and meet year end guidance as stated by DB in a public statement this will be an outstanding turnaround and will see the share price in multiples 97000 ozs (high end) and ASIC down to the $1450s or below will be truly outstanding
Hummingbird Resources share price data is direct from the London Stock Exchange
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