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HUM will pay down $71m of debt in H1 2024 and $60 m 2024 With the gold price at a record high things are looking good ,
The company have edged 60 k ounces @ $2000 leaving 120k for market price sales .
Its Buy Buy guys
The q2 update will be released in July when details of Kor expectations will be posted.
Looks like profit taking may have set in, especially for those who bought in the last fund raise.
Should settle at some point with expectations ahead of Kourrousa, though does anyone know of any forecasts for increased production expectations? How big is Kourrousa expected to be? Cheers NR
On time and on track!
SP should move on todays news!
Hello. Where can i buy hum shares from? Thanls.
Madgpol, Many thanks for the encouraging vision , in 1998 I did a power survey for Randgold I travel from Bamako with their geologist , Gordon Brown had recently sold our gold at $280 an ounce by then it was $400 an ounce , the geo said you will never see gold that price again, alas I did not by in.
Having spotted HUM starting in Mail I started buying for the grandkids, the rest is history , I’m patient and will stick in there with you . Best Bob
Bobee, all things being equal with gold at $2k and HUM looking at producing 200k of Golder per year once 2nd mine in operation debt will melt away and that will support an increased SP. For what it's worth I have a price target north of your average for 2024. GL
I bought a large amount of HUM shares 5 yrs ago for my grand children , my average is 32p . Given Kourrousa comes into production soon can anyone on this board have a a guess the uplift in the share price ?
Or god forbid is it already priced in .
Q1 2023 Operational and Trading Update
Consecutive strong quarterly production of +27koz & improved AISC profile of US$1,109 per oz
Yanfolila, Mali
· Quarterly gold production for Q1 2023 of 27,262 ounces ("oz") (Q4 2022 of 28,264 oz, and Q1 2022 of 15,548 oz).
· AISC of US$1,109 per oz for Q1 2023 (a +11% improvement from Q4 2022 of $1,248 per oz and +50% from Q1 2022 of US$2,235 per oz).
· 26,380 oz of gold sold in Q1 2023 at an average realised price of US$1,878 per oz (Q4 2022: 27,860 oz of gold sold at an average realised price of US$1,726 per oz). The Company held 2,810 oz of gold inventory on 31 March 2023, valued at c.US$5.6 million.
Kouroussa, Guinea
· Kouroussa construction is fully funded, on budget and remains on track for first gold pour by the end of this quarter, Q2 2023.
Corporate
· Strategic investment by CIG SA ("CIG") and successful placement ("the Placement") of c.US$17.1 million during Q1 2023, completing the funding required to ensure Kouroussa goes into production as scheduled, and to fast-track exploration at that asset.
· Consecutive strong and improved quarterly Group EBITDA, up +59% to c.US$17.5 million for Q1 2023, versus Q4 2022 of c.US$11 million.
Outlook
· Similar trends from Q1 2023 levels expected this quarter, Q2 2023.
· As previously stated, an updated Group wide full year guidance update to be provided once Kouroussa is in production and ramping up.
Dan Betts, CEO of Hummingbird, commented:
"Hummingbird's second mine, Kouroussa, remains on track to pour first gold this quarter. The Project remains on time and on budget, and will mark a major milestone in the development of the Company to realising our ambitions of being a multi-mine, multi-jurisdiction gold producer. The mine will more than double our production profile, reduce the Group's cost of production, and diversify risk.
At Yanfolila, we continue to see operational improvements which is very positive, with a mine adding good cash flow returns to the business and performing more in line with expectations. Yanfolila had a positive quarter in terms of production and improved AISC profile, with many of the operational changes made in H2 2022 coming through to the bottom line in terms of a more stabilised and predictable performance at the mine."
I know the sensible thing to do is vote through the resolutions because otherwise this risks going under. However, I've just voted no to everything. I've already lost so much on this and I am completely fed up with the inept management. They could save some money by removing daddy from the board and getting rid of their investor relations for a start. Then Dan and Co can take a pay cut and opt to be paid in shares. Stop taking the mick!
Going nowhere right now, what’s the gen on this?
Interesting that Ruffer LLP have increased their stake to 11% sweeping up another 480k approx. shares. This investment company has offices in London, Edinburgh & Paris.
Their previous post 30th March suggests total gold mined to be 142 tons. I also like the broker target price of 46p.
30-Mar-21 Hummingbird (HUM) Canaccord Genuity Buy 46.00 46.00 Reiteration
why the sell off if things look so good
So, I've prepared an article on SA for the Q3 update but it will need around a day to go through editors. If you want to read it now though, it's available through a free trial here
https://seekingalpha.com/research/36303466-gold-panda/5365201-hummingbird-resources-turnaround-now-complete
Overall, the production and costs are close to my expectations, but I can't figure out why they're stockpiling so much ore
Well personally, I'm uber happy! After being nearly three grand down a few months ago, so bought more stock, I'm currently over £500 in the green!
Cloudy with possible rain
Bright!
After everyone has dumped the stock... what say is the future here??