Member Info for BPat890

@Tony and shareminator - just look at the market valuation though, it doesn’t matter if Hummingbird only meet 75-80% production forecasts next year, that will be more than sufficient to repay loan obligations for the next 12 months by which time the debt will be significantly reduced and the risk profile significantly improved!

Group production at 75% anticipated output is around 150,000 ounces and factoring in the remaining hedges and assuming a worse than anticipated overall combined AISC of $1,500/oz (across both mines) the operations can easily generate $120 million next year with gold around $2,400/oz!

Deduct all the group costs, tax impact and add back any credits from costs sunk and the PE ratio is less than 2 currently on those back of the envelope numbers.

Nicely timed Jammin! Fellow holder in MTL, SRB and PAF, all three have done well up to now but still look cheap considering how far gold has come in recent months (+27%)

@BushyTailed - yes better terms than what most of us were hoping for!

- “two-year deferment following a 12-month pause on capital and interest, scheduled across three tranches beginning in H2-2025” provides ample time to get on top of the repayments

The rate of interest due on the facility has increased marginally but I suspect Hummingbird will more than make up for this once the hedges come off. I had thought one of the term requirements would be more hedging at less than satisfactory prices, but they have dodged that bullet!

Jammin86 they understand it, they just have an agenda. They talk it down in the hope weak holders buy the nonsense they push, buying up cheap stock for the inevitable rise.

This weekend the majority of people posting were ‘non holders’ (their publicly declared positions) talking absolute nonsense.. can you imagine how strange it would be if 4-5 people with no interest spent their weekend posting here as “good Samaritans”..

They will be buying behind the scenes and flipping after a rise like today. The big swing is coming end of September / early October when Q3 results are due and the production figures outshine anything these bozos claim is happening.

Very nice start! Brakes are off following last Friday’s surge in the price of gold

$2,500/oz far above what most experts were predicting at the beginning of the year :)

Eh no, more misinformation from a non holder. They have not taken on more debt.

They deferred payments. Which is good news now operations have picked up since the Corica walk out.

Net debt remains the same following the deferral.

Kouroussa AISC already belle $1,400/oz and heading lower with each passing day.

Non holder.

Look how they are raging today after Dan Betts delivered the imminent refinancing he said was coming. They are seething in the comments 🤣

Commercial production is on track and still anticipated to be achieved this quarter as indicated in the last quarterly update!

A strong indication the Kouroussa ramp up is going well given we are over half way through Q3 now.

Kouroussa monthly run rate of 4,800 ounces in July must be a fair bit higher now.

Coris Refinancing Package

Hummingbird (HUM: AIM) is pleased to announce the completion of the strategic refinancing of a portion of its existing loan facilities with the Company's principal financing partner Coris Bank International ("Coris Bank").

The Group has secured a refinancing package amounting to approximately US$25 million at an annual interest rate of 12%. This new financing will be utilised to meet the Company's existing loan obligations due in Q2 2024, providing a two-year deferment of specific facilities currently held with Coris Bank.

The new facility has a 24-month term with repayments, following a 12-month pause on capital and interest, scheduled across three tranches beginning in H2-2025. Importantly, the Company's net debt position will not change because full quantum of the facility is being used to repay existing obligations owed to Coris Bank.

This strategic refinancing is a key component of Hummingbird's broader financial strategy, aimed at reinforcing the Company's balance sheet and ensuring operational continuity amidst the ongoing adjustments at Kouroussa and Yanfolila. It positions the Company to better manage its resources while continuing the ramp-up to achieve commercial production, anticipated later this quarter.

Dan Betts, CEO of Hummingbird, commented:

"The refinancing with Coris Bank is a significant step in enhancing Hummingbird's financial resilience. We fully appreciate the ongoing support and constructive relationship with Coris, which has been instrumental in working through recent challenges and in the development of Hummingbird over the last several years. This move not only reduces near-term balance sheet constraints but also helps position us to navigate the current operating environment as we finalise the ramp-up at Kouroussa and target commercial production later this quarter."

Remember it was this genius who said Coris refinancing wouldn’t happen!

This morning’s update has the derampers scrambling for a new angle: “They fail to see that they are in no better position than yesterday apart from they have been bought time”

Yes! The deferral of debt repayments is exactly as expected. Now Hummingbird are churning out more than 15,000 ounces per quarter at Kouroussa going forward, based on July’s preliminary production figures and the fact we have been ramping up since late May when Corica returned to site towards the targeted 30,000 ounces per quarter Kouroussa is forecast to do in 2025.

This is the perfect start to the week. The market clearly understands the importance of the news but Goldinvestor7 and his lackies seemingly cannot 🤣

Spent the whole weekend talking nonsense only to go and miss the boat 🤣🤣

“But HOCs mine is at commercial production my friend with a quarter under its belt so it will likely do its guidance”

Past performance is no guarantee of future results..

“It also is paying it down its debt (clear evidence) 10 million last quarter”

$10 million .. only another 9 years to go at this rate then..

Funny he’s “here all night” but won’t show his face on this board..

Relying to Goldinvestor7, he seems to struggle with his investment choices

It is you who doesn’t get it. The average run rate is INCREASING from a base of 1,200 ounces per week in July and forecast to hit 2,000 ounces per week by end of quarter. The ramp up is evidently happening before your eyes but you refuse to admit it because you’re so angry at losing money here in the past..

And the reason I know Kouroussa is turning positive cashflow now at 15koz is because operating costs are far lower than Yanfolila has been profitable at that rate in the past and would be but for the hedge.

You don’t have to believe anything Hummingbird put out as you’re not invested. But those of us who are won’t be taking advice from jobless shills who cherry pick the same company figures to suit their twisted agenda.

Now stick to your lane with your sh*tposts

HOC produced 150koz so ignoring its forward guidance as you say we should here it puts it on a 300koz per annum producer saddled with $360 million debt, interest payments of more than $40 million per annum, high sustaining capex and for the sum of $1.2 billion.

“HUM does not have an AISC of $1400 at the new mine.. That would be the figure when fully ramped up and producing stated gold”

Wrong again! Another dropped ball Goldinvestor7

Kouroussa: Reinstated guidance to 50,000 - 70,000 oz at an AISC below US$1,400 per oz, with refined guidance to be provided once operations reach commercial production.

Kouroussa’s AISC in H1 will have been far above $1,400/oz so it only makes sense AISC will be below $1,400/oz in the second half.

AISC on 14koz Kouroussa production in H1 will have been far above $2,000/oz if indeed it was loss making as indicated in the Q1 update and one can assume with Corica going awol the second quarter wasn’t much better.

I will forgive your ignorance again as it must be hard for you to keep up..

Kouroussa AISC is expected to be below $1,400 AISC over the entire year and as the mine is producing closer to commercial production with everyday that passes it will bring the AISC closer to the stated $1,000/oz AISC Kourussa is forecast to produce at

@Goldinvestor7 this is nothing less than psychobabble gaslighting, trying pass yourself off as a “normal guy” here to warn us all… after posting here you think holders deserve to lose all their money and how much you want Hummingbird to go bust. We both know you’re going to need to work harder than this to earn your small change. How much they paying you to work evenings? 🤣

“What makes you think Q3 will be any different..” given the underperformance relative to guidance in the first half?

“Why are you certain they will (increase) production at the new mine?” given Hochschild have in the past failed to meet guidance, keep a lid on rising costs and continue to pour money in the new mine development..

“So where is the money coming from to pay the debt?” Yes this one is a corker but I’m sure someone else will help him understand how increasing production and reducing costs might help..

“Don’t you see how precarious this situation is ? It’s a debt slave as it is and has no way of paying it back.”

$360 million debt and half 2 weighted guidance here. Anybody want to explain for GoldInvestor7’s benefit why Hochschild is (or isn’t) a “debt slave”