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I've lost faith and started to offload my holding... 2 tranches of 75k done so far... can't get a trade for any more at the moment...

Totally understand the sentiment... The Chair and CEO role need to be separated out asap. We need a Chair who can hold the CEO to account.

The dilution caught most by surprise given the message in the interviews...

Https://www.hummingbirdresources.co.uk/corporate-interviews/dan-betts-discusses-corporate-update-equity-placement-announcement/

Less than £70k sold today - likely just retail, but no one knows for sure.

If the company delivers and gold price holds up, i think the P&L and balance sheet will support an MC of a lot more than £120m

Hoping for good news!!

Posted by the company on the 7th December 2022:

#HUM is pleased to report that key equipment, including grade control rigs secured in Q3 to supplement the underperforming drilling fleet, are performing well at #Yanfolila allowing us to mine to our scheduled mine plan and accelerate our production for the remainder of the year.

From the Financial Statement RNS in December....

'we will seek additional funding before significant revenue traction is achieved'

.... so yes, there will likely be a raise.

Thanks Sjb ... :)

Hi all

Looking at the HUM fundamentals page on this site, I can see that the Net Asset Value per share at 2021 close was recorded as $0.21, however, when I take the Net Asset Value on the balance sheet of 173m and divide by the number of shares 394m, I come to a NAV per share of 0.43 per share.

Can someone more knowledgeable on these matters point me in the direction of where i am going wrong.

Many thanks

Re the RNS - I wonder if the business has the cash to complete this without a further fund raise/dilution?

Nice chart! Is £80 per test the cost to the end user, or revenue GDR will take from each test? I was trying to get this information a few weeks back but struggled.

Not sure they will announce news on individual sales - distribution agreements yes, but surely sales would be part of a trading update and non specific

Hi all - Does anyone know the price of the MT-RNR1 Product Range?

Thanks

does £30m revenue by year 5 justify a market cap of £22m - which is the current MC?

;)

Wouldn't we have seen a TR1 via RNS if it was the September investors that sold?

Some on here have suggested that we are going to see sales agreements via an RNS - I don't think this will be the case, I think it is more likely that we will see distribution agreements, hopefully at country level, but we will see...

I very much doubt that the distribution agreements will have minimum purchase terms, but i doubt we will ever know, as commercially sensitive...

What we do know from the RNS of the 29 Nov is that GDR were moving forward with sending the test kits to selective distributors for review, we also know that they were seeking additional distributors in certain territories.

Some of these distributors would have had the product for about 2 weeks by now - is that enough time to evaluate the product and negotiate a distribution agreement? maybe/maybe not, it only takes a derision maker at a major distributor to be off sick or on holiday to slow down the process.

We also know that there was additional investment of £6m back in September - this wouldn't have been given without the backers being comfortable of future plans...

Given that the pandemic is back at an alarming rate and given the requirement for test kits, I think that this company will come good...

The only reason you would post a message like this is if you planned to buy... ;)

you have read the investor reports right?

but they have stated how much they cost to produce and how much the test machines cost and this is very competitive relative to PCR tests