Member Info for BPat890

Logged into the wrong account there GoldInvestor7 😆

You don’t offer balance so let’s not pretend.

You said the company were loss making and heading to admin three months ago. How did Hummingbird continue trading all quarter with just $0.4 million cash at hand at end of last quarter if they were loss making?

For the sake of ‘balance’ why don’t you explain why you think “Koroso did 10,000 oz” in Q3 (your words) when production in July alone was 4,800 ounces?

I suspect you know production will have been higher but can’t possibly be seen to agree with sensible estimates. Consensus on here would remove the element of fear which you rely on to sow confusion and spread misinformation

21 Aug 2024

“I won’t post again till the placing or admin

Prepare to lose the lot”

In the past two months GoldInvestor7 has ignored his own advice and chosen to post here predominantly in a vain attempt to influence investors. Their rhetoric has been libellous. It is perhaps the reason they opened a new account in July to continue their campaign of abuse toward the company and its shareholders. Clearly looking back at his first posts this is not the first time they had posted on Hummingbird.

GoldInvestor7 is a multi-ID abuser, no point arguing that point. Question is what did you do to get your last account banned?

GoldInvestor7’s Lonely Hearts ad

‘attention seeking multi-ID-millionaire with all the time in the world, borderline split personality and loose grip on reality desires pessimistic soul to spend weekends online trolling together’

Two phrases that are oft repeated here ‘cash neutrality’ and ‘cash runway’. Neither seem to be backed up by recent results nor the company’s remarks on receivables which will in part be used to cover ongoing group costs.

Revenues collapsed last year, down 61% on the previous.

Company only here today following equity dilution to raise £2.7m worth from placings. Where have those funds gone?

They have yet to show how costs are going to be managed in the next six months, an order book of £0.75m is less than what they burned through in the past six months alone.

All while apparently cutting costs! I can’t see how they get through the next year without coming back

to the market cup in hand to beg for another injection of liquidity.

The gold price rise, record highs today of $2,768/oz adds to the bottom line increasing margins on unhedged sales and expectations of near term cash-flows early next year when hedges come off

The company expect Kouroussa and Yanfolila to be at a combined run rate of 50koz quarterly production by beginning of 2025.

Even at 40koz level with no hedges going forward (Q2 2025) with conservative AISC below $1,500/oz they will be generating $50 million after AISC every quarter.

AISC at Kouroussa are expected to be as low as $1,000/oz when monthly production is at 10koz.

LSE site rules being abused by Goldinvestor7 and Punter64, in particular these rules:

You will not;

- post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.

- post non-constructive, meaningless, one word (or short) non-sense posts.

- post or otherwise publish any content unrelated to the board or the board's topic.

- if you are going to post non-English, please also post an English translation of your post (this one specifically for GoldInvestor7)

They doth protest too much, methinks..

Shareholders forecasting a 20% miss on low end Q3 guidance using company’s latest figures is apparently ramping.

Non holders orchestrating a campaign of daily fear mongering and often libellous statements, forcing admin to remove certain posts (users Punter64 and Goldinvestor7 guilty) is apparently ‘normal’ behaviour.

Punter64 is the chief propagandist repeating the same boring one liners day after day. His lackey, the multi-millionaire without a dictionary is a serial liar and fraud.

Desperate attempts to steer sentiment. Most shareholders can see through you but I’ll keep highlighting your behaviour for those new here.

GoldInvestor7 has a habit of inflating his worth. What kind of millionaire spends his days sh*t posting in stocks they don’t hold and ramping penny stocks like FAB?

Really odd behaviour for a millionaire 😆

When is the next placing?

Lol he couldn’t help himself but bite 😆

Is this coming from the perma bear who claims to hold shares but only posts in agreement with the worst derampers on here? Thinks it’s going under but chooses to hold on..

Funnily enough Goldinvestor7 can’t spell either.

Or maybe there really is more than one sad person here day after day flinging sh*t about with nothing better to do..

Aww non holders are so concerned they are flipping between multiple IDs to get their one liners out.

We are all excited to see how far along Kouroussa production has come since beginning of Q3 when production averaged 1,200 ounces per week (July: 4,800 ounces).

@bobsknees - well they aren’t going to reveal anything noteworthy until they announce it to the market..

Kouroussa production in July was 4.8koz and the ramp up has continued ever since. They could well be at or over 6koz monthly run rate and allowing sufficient time to confirm the daily output amongst other factors are sustainable.

Kouroussa achieving a 10koz monthly run rate this year or early next is less of a concern as long as the ramp up is achieving rates high enough to throw off enough free cash to cover group costs and due loan repayments.

Kouroussa achieving 7-8koz per month by end of this quarter would be a significant improvement yet again and quite likely given previous low end Q4 group production guidance of 43koz (with Q3 circa 30koz). They said in the last presentation that H2 guidance intact despite Q3 being worse than company expectations.

7-8koz per month this quarter from Kouroussa alone (Yanfolila another 5-6koz per month) will squash any false rumours being spread about the company running out of cash, needing to conduct a placing (at 4p apparently) or going under - nonsense we regularly see from Punter64 / GoldInvestor7 to name but a few

I call bullsh*t anybody claiming the company sent them an email with market sensitive information...

Especially if Punter64 is backing up those claims.

Suggesting you’re in receipt of market sensitive information and have sold is illegal. Of course if you’re telling fibs, don’t actually hold and just trying to influence the share price that too could land you in hot water..

LSE has a very clear policy of removing posts that are defamatory or libellous. From my time here I’ve seen posts removed for both false rumours (Dugbe sale imminent) and the malicious campaign of smears spread by two or more users. Both Goldinvestor7 and Punter64 have had posts removed. Goldinvestor7 has gone quiet recently after I came over to the FAB chat board where he is invested and shared his behaviour with the community. The campaign of misinformation and fear mongering by these people is to destroy sentiment and drive people to sell so they can pick up cheap stock. There is no other sane reason why the likes of Punter64 would post 10-20 times a day quite often more, throughout the day and late into the evening.

Many here would ask you the more important question, why do you persist with your daily smear campaign?

You don’t seem to have a job or a life for that matter. You’ve posted here everyday for at least 3 months that I’ve been here, more so when the rhetoric turns positive. Is it because you enjoy controlling the narrative?

How many times did you lie about a 4p Friday placing coming? How many times did you downplay the company’s Kouroussa figures because “they can’t be trusted” - your words.. while cherry picking data to suit your negative spin. Shameful behaviour.

Only you are to blame for admin removing a couple of your worst offending posts. Your words clearly went beyond the site rules. I have no say over anything admin does but if you want to blame me I will happily take it 😆 your so called “Facts” didn’t stack up and had to be removed for your own sake.

Q4 going to be a record gold production quarter for the company and with gold flying high at $2,730/oz with less than half forecast production hedged they will be generating greater margins as you well know.

34 degrees, sunshine and clear skies all week now and next.

I guess there isn’t much to talk about when the weather is mighty fine 😆

Hedges have reduced by roughly 26koz during Q3.

60koz hedges remaining at the time of the H2 presentation down to 34koz hedges at an increased price of 2,230/oz mentioned in the latest video presentation. In the past hedges make up a large portion of sales but never the entirety so this is perhaps another clear indication group production was around the 30koz level..

The remaining 34koz hedges at $2,230/oz will be spread over the next 6 months. As mentioned before roughly 17koz this quarter and next.

With production increasing from around a 30koz level in Q3 to around the 40koz (42koz is low end company guidance) a greater portion of production is exposed to the gold price - well above $2,700/oz.

Of the 40koz in Q4 less than half of sold ounces would be sold at hedge prices of $2,230/oz with the majority sold around the current gold price, almost $500/oz higher today.

The combined average realised gold price is likely to be around $2,450/oz - dependant on production, ration of hedged ounces sold and the average gold price throughout the quarter. Clearly far higher than last quarter and any quarter previously.

With increasing production this quarter and lower costs across both mines, particularly at low cost Kouroussa ($1,000/oz AISC once at a 10koz monthly run rate) the cash generated from operations is going to be game changing.

Hummingbird went the entire Q3 without additional finance despite having just $0.4m in the bank at the end of Q2. They refinanced half of debts due this year to H2 2025 and further out also. At the end of Q3 they announced a new $20 million loan from Nioko. Cash-flow likely not an issue, equity raise isn’t on the cards.

In terms of Q3 production the resident trolls Goldinvestor7 / Punter64 are expecting 10koz from “Koruso” and 12koz from Yanfolila, although they have flip flopped around with other nonsense figures.

Kouroussa has continued ramping up throughout Q3. They haven’t achieved commercial production. Both statements coming from the company which tells us the monthly run rates were higher in august and September (but for mill relining).

We know mill relining was completed “well within the two weeks timeframe”. Only the resident derampers believe September output was 2.4koz at Kouroussa.

We are probably at or around the 30koz group production last quarter which is a miss of about 20% on lower end guidance.