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There's some stuff that hasn't been mentioned on here that ought to be.
Who caught that Dan said we should be into 4G/T at Kou when we shift a million BCMs? Which according to the contract with Corica should be ONE month?
Dan seemed way less aloof and much more natural in this presentation. Almost like a man that has had at least a bit of a weight on his mind removed.
The Hedge collar has seen 15000 ozs pushed back to Q1 25 from what I gathered, but I need to hear that part again. Whatever, the collar is now 15K a quarter, I think, from $2100 upwards.
I'm massively encouraged after hearing that, but then I didn't really need to be. The upside is massive, imo.
Whatever, it's a swine, as I nearly bought more yesterday, but was hoping it would fall a bit more. I'm building my holding, but do like to trade a few, for clarity. Probably the same as quite a few of us on here, I suspect. The volatility is superb.
Not my understanding.
The remaining 55k oz now spread over 4 Qs at the same collar points.
It really improves exposure to current prices as it should have been 20k in each of the next couple of Qs but is now only 13.5k per Q and that results in an additional 6.5k per Q at this crucial point in time.
At the end of the day, it is not make or break: that is down to how quickly they get the higher grade or greater volume (or both). That critical diagram invites the thought that they have to depart from the plan and start selective mining where the high grade is, using whatever equipment is available, now that the blasting team are back in action. Bad long term, but needs must.
I don't think so no, they've just 'rescheduled' it meaning they benefit more now from POG, in the immediate term from this $2300/oz price but if gold stays here or goes even higher through 2024 they'll be losing out there instead as it will be hedged/collared a lot lower than spot price. If they had actually used up cash doing this Dan would have emphasised that either in the rns or IMC but he didn't.
They are potentially giving up future cash revenues to maximise short term generation, understandably as they need to navigate the next few months whilst the cards are stacked against them.
That was my understanding Rus
From listening to the presentation they used cash in q1 to buy back their old hedge. Their new hedge starting from q2 is 15k oz for the next 4 quarters (total 60k oz) at a price around $2300. Any production above 15k per q will be sold at market price. Is that right?
If that is the case, that explains the extra cash used in q1 in order to get more cash in future quarters. Their previous $2100 ceiling is removed and their forward gold sale prices can average $2300+.
See you later Harchris..Wrong again it seems, better luck next time 🤡🤡
Well - I have now listened to the presentation and have committed some more funds!! Now my average is around 10p as I see that even if we get 1500ozs a week from kourroussa this gives us 63,500 a year and with 80000oz from yanfolia we should produce over 140000oz this year. Say a total cost of $1800 (aisc is not the total cost) then at $2250 for rest of year average we still make $63m which we can pay off debt. Aware that just like all banks being slightly adrift is fine as long as a plan is in place and if it all works out, LOM gets increased for both and aisc and total costs come down then I see a rosy future!! DYOR but these targets are not overly stretching and we would be fine imo
I’ve a few green boxes, no doubt the biggest clown
DB is out in force
It’s always a good sign that things are about to take off, One last gasp of putting doubt into shareholders
Best these clowns are ignored 🤡🤣
Have a great weekend
Woosh!!!!
On my brother's phone, trying to make peace not war!
HarChis / Grandalusia have you just outed yourself as a multi-ID time waster?
Based on the current production has anyone been able to work out when the gold hedge will be met and we switch to market prices?
Gold price short? I'm heavily invested in gold miners and positioned for it at the back end of 2023 so i'm alright! Just not HUM as of this time.
As it happens my posts tend to be intentionally a tad baiting and it's led to some very useful posts from yourself and especially Guvvi on this occasion. I see the SP is moving up nicely here, all the best and good luck - i'll likely be invested myself once there's more clarity re Kou and the funding situation even if that means I miss out on a sizeable move in the meantime.
HarChris - I was referencing slide 4 of the presentation released yesterday which states Yanfolila guidance 80-90koz, likely a company error as I can see 75-85koz is referenced in the written update and in the end of year forecasts. Still taking a middle of the road estimate of 80koz that's a difference of $4m.
I was wondering how you might deflect but didn't expect you to score an own goal with the gold price estimates lol. Many seasoned investors and market analysts today would disagree with you about where the price of gold is heading. Today the gold price trades at $2,340/oz and you are suggesting my Q2 estimate of $2,100/oz and H2 estimate of $2,200/oz (with hedging factored in) is "opportunistic". We will have to agree to disagree on that. Rates are due to start falling in H2 and the global economy is flatlining. I sincerely hope you're covering your gold price short.
As for Coris being supportive they may choose to defer a portion of the debt at a higher rate or perhaps negotiate a new term loan with which Hummingbird may drawdown and repay existing loans. Either way Coris will benefit from increased repayments over the course of the repayments and Hummingbird will receive the additional time required. Given the project economics have improved markedly over the past few months with gross margins per ounce jumping $300+ there shouldn't be an issue improving credit lines.
Couldn't make today's live presentation with HUMMINGBIRD RESOURCES PLC? #HUM HUM_gold
No problem! Catch up here:
https://www.youtube.com/watch?v=EPB_Vtj1HTU
Worth watching the presentation and Q&A
https://www.investormeetcompany.com/
I do tend to assume the worst and am not aware of the issues that the contractor has encountered,Dan was careful not to comment on why they have not kept to the mine plan despite Hummingbird management having overseen mining activities for 12 months or more
Jwhitw - who else is responsible for the mining then? What are these posts where people just mention something then suggest nothing then assume the worst.
As Dan said you'd have to ask Corica why they are not sticking to the mining plan, moving the dirt and getting us to where we hoped to be under the contract which they signed.
The graphic showing our actual position against planned mining in yesterday's presentation was quite alarming. It appears we have barely scratched the surface against what was planned. Are we to assume this is solely down to corica and this is indeed a $1000 aisc project.
Fill in the typos yourself
Chris... There is no one quite as odd as someone who posts the amount of absolute garbage as what you do and can't even read I'll use a calculator to establish the output using grade profile
You've literally been told by the company that the processing plan is operating at 110% capacity and no yesterday they have confirmed to you that the grade they're no processing is 2 grams Per tonne.
Yes they will. I had a period where we were into the bank for quite a bit and had to keep extending and re-financing things to make ends meet. We were waiting for business to pick up etc which we were sure would come. Every time our overdraft got extended or we organised payment holidays or whatever they charged us for the ' new ' facility. This is how banks make their money - they're a bank.
They never once suggested taking over our capital intensive business that they don't understand, can't run and wouldn't want to sell in a hurry to the lowest bidder which would take ages and result in huge problems.
Id guess that Coris will be flexible if the base case is still very strong and progress is being made. 77m dollars is due in 2024 and 9m has been paid already. What if they get 50m back this year and roll the remainder into next year? Sounds perfectly reasonable to me and risk-free for both parties ( as long as progress is made going forward now ).
Sounds far more reasonable than ' Coris will take the business they already own and wipe out shareholders ' or ' another equity raise at 5p is coming '. Why on earth would the bank want a huge controlling stake in a multi jurisdictional mining company!?
This is all dependant on Hummingbird continuing to deliver more at Yan and little by little at Kouroussa too. I agree if their production goes backwards now they could be in big trouble. Regarding CIG stake i'd say its more likely half of it gets sold at a profit to whoever wants to help fund Dugbe later in the year or 2025.
'Are you really saying that after last week you was defending 2 billion valuation for SRB based on guidance for a production profile that isn't even funded and not even guided for until atleast 2026?🤡🤡🤡🤡'
No, you've got the wrong person, that was someone else. I have a £1 target for SRB.
'The amount he cried last week because I said SRB would test 55p was unreal.'
You're an odd one. (i) I didn't get wound up because you just came on the SRB board spamming with no interest in debating and (ii) I was right that it wouldn't pull back that far.
Anyway I won't reply to you again however abusive and slanderous your posts as it's tedious for the rest.
Are you really saying that after last week you was defending 2 billion valuation for SRB based on guidance for a production profile that isn't even funded and not even guided for until atleast 2026?🤡🤡🤡🤡