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
  -0.625 -3.05% 19.875 1,236,337 12:53:32
Bid Price Offer Price High Price Low Price Open Price
19.50 20.25 20.50 19.75 20.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 135.37 19.22 3.91 5.1 71
Last Trade Time Trade Type Trade Size Trade Price Currency
16:40:37 O 69,454 20.25 GBX

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Date Time Title Posts
18/6/202123:31Hummingbird Resources10,552
18/6/202119:59Hummingbird Resources (moderated)5,089
24/11/202017:07Hummingbird shares lifted by better than expected gold resource upgrade3
15/7/201815:04Hummingbird Resources 201818
30/5/201813:52HUMMINGBIRD RESOURCES - multi asset gold company48

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Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-18 15:40:3820.2569,45414,064.44O
2021-06-18 15:29:2219.6814,5152,855.83O
2021-06-18 15:28:4820.2511,5802,344.95O
2021-06-18 15:25:1120.2349499.94O
2021-06-18 15:24:4319.7734,8236,884.51O
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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 20.50p.
Hummingbird Resources Plc has a 4 week average price of 19.75p and a 12 week average price of 19.50p.
The 1 year high share price is 42p while the 1 year low share price is currently 19.50p.
There are currently 357,428,268 shares in issue and the average daily traded volume is 859,320 shares. The market capitalisation of Hummingbird Resources Plc is £71,038,868.27.
dickbush: Just playing with numbers: Holding in Bunker Hill worth £1.25 mil Holding in Cora worth £1.9 mil 51% ARX holding worth £21.4 mil* *Based on Pasofino having 440 mil shares outstanding after the current offering, and guesstimate that the share price settles at C$0.08 (currently C$0.09) Total £24.5 mil. Current Market Value of HUM: £80.5 mil. So, HUM on about 1 times EBITDA at the current gold price after subtracting these holdings.
dickbush: I've never said anything about buying in shares or paying a divi as ways of getting the share price up but if Cassidy are complaining about the current share price v the 28.4p of the deal, it seems to me that if HUM were to promise 1p for this year and, say, 10 % of next year's EBITDA, that would get the share price back up to circa 28.4p
lowtrawler: Cinoib, if you magically lift the HUM operations to Australia or Canada the financial performance would give a share price around 100p. If the prospects, like Dugbe and Kouroussa were also in those territories, we might even be looking close to 200p. We are heavily discounted due to where we operate. The regional risks will almost always impact our price more than anything the company itself can do. Yesterday's upward spike at the end of the day was due to news emerging on Mali rather than anything leaked from the company. Investing in HUM is partially a bet on gold pricing but it is also a bet on regional stability. Those 2 external factors probably represent 70% of the influence on our price. Company performance is the other 30%.
lowtrawler: GP, any request from Cassidy to alter the terms of the transfer should now be seen as a test on the competence of our own Board. Clearly, they should have a cast-iron legal agreement already setting out the transfer terms. As with any corporate agreement, it is always possible for one of the parties to renege and take the consequences in court. Cassidy may see a 25% reduction in the HUM share price and political turmoil in Mali as an opportunity to seek bids from elsewhere but HUM should have penalties which mean this is not in Cassidy's interest. HUM may be willing to compromise in some of the details to avoid any protracted dispute. However, I am hoping that the announcement is only a delay and not an indication Cassidy want to get better terms.
laurence llewelyn binliner: There is no hiding from the fact that the Kouroussa deal came at a heavy price for the mining licence, over and above expectations, and the share price is reflecting that.. 15% Gov free carry +20% option to buy at what price..? 5% royalty on product tax 1% additional local tax 30% corporation tax, can we recover all associated costs first..? and historic costs..? 10% HUM dilution to pay Cassidy off Then there is the funding needed, USD100M at 4/5% for 4/5 years to get back to scratch where we are now..?, and the combined AISC is not expected to be sub 1000/Oz until Kouroussa is up and running.. Q2-2021 1800 POG | 1400 AISC | 24Koz | 400 margin | USD 10M EBITDA ..? Yanfolila is making money yes, but after HQ costs and taxes, the company is a long way off where they need to be and where I was hoping they would be at this time going into a new mine build and self funding it..
kalkaar: Kouroussa license granted.. RNS Number : 3358Z Hummingbird Resources PLC 20 May 2021 Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining 20 May 2021 Hummingbird Resources plc ('Hummingbird' or the 'Company') Mining Licences granted by the Government of Guinea for the Kouroussa Gold Project & Total Voting Rights Hummingbird Resources plc (AIM:HUM) is pleased to announce that the Company has been granted the mining licences for the Kouroussa Gold Project in Guinea (the 'Project') by the Government of Guinea (the "Grant"). Key terms of the mining licences include: § 15 year, renewable licence term § Mine construction to start within one year § 5% royalty payable to the Federal Government of Guinea § 1% contribution to Local Development Fund § 30% tax on profits The Government has the right to a 15% non-dilutable free carried interest in the share capital of Kouroussa Gold Mine SA (the wholly owned subsidiary of Hummingbird which owns the Project), with the right to acquire a further 20% participating interest for cash. The Grant triggers the requirement to pay the initial consideration of £10.0 million to Cassidy Gold Corp ('Cassidy'), which will be satisfied by issue of shares in Hummingbird as detailed below. The Company will further update the market in due course on the progress at the Project and future plans. Abdoulaye Magassouba, Minister of Mines, Guinea, commented: "This project is part of the reinforcement of the industrial production of gold in Guinea and will have a significant economic impact in Kouroussa and in the country, while contributing to the resilience of the mining sector. We look forward to an ongoing strong relationship with the Company and supporting the development and running of the operation going forward for the success of all stakeholders." Dan Betts, CEO of Hummingbird Resources, commented: "I am delighted to confirm that we have been granted the mining licences by the Guinea Government for our Kouroussa Gold Project. This marks an important step for the Company as we move from being a single asset producing gold company, towards being a multi-asset producing gold company in multi-jurisdictions. "I would like to thank the Government of Guinea and the people of Kouroussa. We look forward to working with them, and all our stakeholders, in developing and running a world class gold mine that embodies industry leading environmental, social and governance standards that the country, local people and the Company can be proud of. "Additionally, I would like to personally thank Saidou Idé, our Regional Director in Africa, and his team for their tireless efforts in working with the Government of Guinea to secure the mining licences for the Project. "We look forward to updating the market on our progress and plans for the Project in the near future." Further Details Further to the announcement on 26 June 2020, which set out the key terms of the Sale and Purchase Agreement for the Company to acquire the Project, the granting of the mining licences triggers the requirement to pay the initial consideration of £10.0 million, which will be satisfied by issue of 35,248,441 new ordinary shares in Hummingbird at a price of 28.4 pence per ordinary share to the beneficial owners of the vendor. Approximately 85% of these shares are subject to a 12-month lock in and 12-month orderly market arrangement. Application has been made for these shares to be admitted to trading on AIM, which is expected to occur on or around 26 May 2021. Total Voting Rights The total number of Ordinary Shares in issue following Admission will be 392,676,809 and the Company holds no shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 392,676,809. The above figure of 392,676,809 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Hummingbird under the FCA's Disclosure and Transparency Rules.
polaris: I'm OK with SC still reducing. They only have another 9 M maximum to sell...from over 30 M at peak. If you look at buy and sell timing then they have made a decent return. share price has suffered but there is buying pressure mopping it up, albeit slowly. When the selling pressure stops then the share price will rise - simple supply and demand dynamics. If HUM can actually deliver professionalism and steady-state ops this year, walk the walk AND talk the talk, that adds to the buying pressure. That'll go to a new level if HUM can get the license sorted and the contracts out for the second mine. I'm not ruling out new 2-year+ highs in H2 at current pog, never mind projecting forward from some of the pog numbers that pundits are floating out there by YE.
rubric1: Been trying to understand the intrinsic value of HUM. Any comments on the below would be gratefully received. I know there is stuff I have got wrong, and would appreciate being put right. 1. 2021 production guidance is 100-110k oz at AISC of $1250-$1350. Assuming mid ranges of each and a gold price of $1788 (last quarters price) I get 2021 earnings of around 105,000 x (1788-1300) = $51M. Given 357M shares and converting to GBP at £1=$1.4, thats around 10p per share full year earnings – substantially over current broker estimates of 4p. Not sure if that EPS allows for corporation tax, which would take it down 20-30%. 2. HUM appears to have had a credibility issue in recent years, the chief exec is not well liked on this board. The recent newsflow seems to be that they have improved financial reporting, and hired an experienced COO to address cost overruns. Distrust of managements numbers could explain the discrepancy in 2021 EPS. 3. The expectation is that AISC drops from $1494 in Q1 to $1250-£1350 for the full year. If production is weighted towards later in the year then that could be reasonable. 4. The Yanfolila mine has an MRE of 1.92M oz, or about 18 years worth of gold at 105,000 per year. Of course, extraction rate may increase and hopefully more ore will be found with the 2021 $10m exploration project. Is it reasonable that much of the MRE would be extracted, or could there be a lot of unrecoverable ore ? I couldnt find much opinion on that point. If all that ore was recovered, and no more was found, and gold remained the same price and AISC was $1300 then the mine is worth around $930M, before discounting back to todays money. Thats a lot of Ifs so in reality it will probably be less than that – though it could also be more. 5. Kouroussa is pre development. If the MRE of 1.18M Oz is correct then it is worth around $575M. Even more Ifs on that estimate, but also more unknown potential upside. The implied goal is to pull around $100k Oz of gold PA from the mine, which could almost double current EPS. 6. Dugbe appears to be a case of Hummingbird not wanting to throw good money after bad, and have got a partner to pay for exploration in return for 49% of the mining rights. The partner (Pasofino) seems to have an experienced board from their investor presentation. The MRE seems to be relatively low grade ore (around 1.5g/t) so presumably the AISC will be higher. Anyone got any idea what a reasonable AISC assumption would be ? HUM will own 51% minus the Govts 10% interest, so around 45% of the total project. I could make a case for the HUM share to be worth anything from zero to $400m or so. 7. The stakes in Cora Gold and Bunker Hill are worth something, but probably small in the overall context. 8. If we add the implied valuations of the 3 main mines we get a per share value of around £3.80. Before everyone laughs hysterically, of course that assumes lots of things go well – which they won’t. So the real value is a lot less than that. The question is how much to discount the future unknowns (political risk / war etc) to get to an intrinsic value.
polaris: HUM are certainly trying to look more professional. The improvements to the Q1 report in terms of providing prior period comparisons, the COO and the change in language from CEO at interviews are welcome. At 21 p, the EV is around $100 M for the 100 k oz p.a. producing mine, one full development project and 51 % (though i think this includes the 10 % government free carry) of another, very large, development project. Then there are a few side 'ahem' projects that might add a bit of value. Q2 will see the company debt free from Yanfolila. I'd say HUM have been naive over the last 18 months but the new COO, the replacement of the mining contractor and re-arrangement of senior staff at Yanfolila is a turning point. It will take a while for the market to be convinced and the share price may remain depressed while/if SC continue to offload. Q2 results/HY figures will be key for measuring progress. Kouroussa permit will hopefully be confirmed soon, meaning some of the cash flow from completing the debt repayments will move straight into funding the construction project. Q1 shows HUM can generate hefty cash-flow, even with lowered production and higher AISCs ($8.6 M debt repaid and cash balances still increased). There may be a need for more debt to build Kouroussa. I have zero problem with that as HUM have proven they can build and operate a mine, and repay debt. Many small miners fail at or before this point. Any additions to my holding will require me to trim elsewhere. I doubt that will happen for a few months for me. I like HUM, but have to say that i like MML more on its production profile, costs and cash pile. It's EV is even lower than HUM. It also suffers from bad management legacy and is only listed on ASX, so unavailable/inconvenient for many. It'll announce Q3 FY21 production (it has a July-June FY) next week. With a bit of luck, an uptick at MML will provide me with more margin to share there and here. Oh...MML also restarted paying a dividend at HY FY21... Doubt HUM will be in that position for at least another 18-24 months, given cap-ex requirements for Kouroussa and Dugbe, but it will come. On the plus side, a multi-asset producer should never be under-estimated. It does provide protection for the unforeseen!
dickbush: Plat Issuing circa 120 mil shares at C7cents according to the circular. A few unknowns, like where the share price will end up after the new shares are issued. Assuming they end up at C8c, VEIN's MV would be just under £20mil ex dilution. So, circa £20mil for HUM's 51%. LOL but if VEIN could talk the share price back up to last year's peak (C40c), the MV would be circa £100mil. Those were days!
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