Member Info for Cheerfuldoor

Am i reading the new HIPPO scheme right that if management get the shareprice up by 18% yoy between Feb 21 and Feb 24 this triggers 1/3 of the payout? So a share price of around 34p?

Excuse typos - meant helps put the current market cap in context

One scenario put forward for the delay was that perhaps Someone now wants to buy the project. Whilst unlikely it prompts a great hypothetical question. Assuming Kouroussa is our project, what would we sell it on for? We paid $10 per oz from memory for circa 1m oz. My guess: 40m. Helps out the Hum market cap in context

Was checking out Cora’s latest drilling results from yesterday (19m at 4g from 13m depth). If Kouroussa falls through then perhaps this offers a realistic fast track plan b. No geographic diversification but hey, if you’re brave enough to invest in Hum in the first place what’s a 2nd mine in Mali. In fact we could fund the CAPEX for both Cora and Bunker Hill thinking about it. I can’t see the Kouroussa moving forward without Hum so being positive perhaps there’s a win win renegotiation going on or there’s a pause whilst the political situation is resolved

Thanks for correction BT and good questions Adamsmith. I’m also curious about the Dugbe CAPEX funding strategy. Maybe this is where Stephen Dattals expertise comes in, the ARX co-founder. He has has track record and his own website it turns out. I was invested in Polo resources whilst he was there and remember him doing a nice job in terms of returning funds to shareholders.

https://stephendattels.com/career/

And back to Dugbe for a moment I found a recent investor presentation from Ian Stalker. Points I noted but please dyor:

* Expected production 200k rising to 250k ounces if drilling successful
* Expects a competitive AISC and guesses will be below 1000USD oz
* Updated PEA will be released May or early June
* DFS now expected early 22 not end 21
* Expects drilling to increase deposit to 5m oz
* After first mine sees opportunity for further 2 mines
* Once DFS complete there is a put and Hum will need to combine their equity within the Pasofino vehicle
* Estimated caped for mine 300-330m which will come in as debt or equity and dilute all shareholders
* Recent Pasofino raise was at a low price and expects this to increase

https://youtu.be/4ovkAk4_0ic

Back to Yanfolila for a moment, I was reading the accounts of our former Mining Contractor AMS’s parent Perenti. They note that they wanted an early exit from the Yanfolila contract and that it was loss making which I’d not picked up.

Lets hope the new COO (formerly of AMS) and mining contractor can make the AISC work for all stakeholders going forwards.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02344473-6A1021380?access_token=83ff96335c2d45a094df02a206a39ff4

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02362030-6A1027832?access_token=83ff96335c2d45a094df02a206a39ff4

I wondered, for comparison, if Cassidy had ever previously announced government terms for the Kouroussa project and found a PEA announcement way from back in 2012:

https://www.investegate.co.uk/cassidy-gold-corp/rns/ni-43-101-completed-at-kouroussa-gold-project/201202290856543502Y/

15% state participation (unchanged)
5% royalty obligation (unchanged)
35% corporate tax rate (reduced to 30% tax on profits)

Added to this is we now have the 1% royalty for local communities (ok with me at least) and the government option to purchase a further 20% participating interest for cash and now the previously announced Cassidy 2% net smelter royalty.

Perhaps the terms will prove more in line with expectations than some seem to think but let’s see. Please DYOR etc.

Dan said the Cabinet meet on a Thursdays and so it proved to be with our mining license. It feels good that our little mining company now has a 2nd project. It will be certainly be interesting to hear the company perspective on the project financials, mine construction costs also likely to surprise on the upside given recent inflation

Wow up indeed - just touched 1840

Boom indeed!

Don Durrett, who runs a pay for website analysing gold stocks, posted his view on Hum 2 days back on Twitter.

“I just analyzed Hummingbird Resources. This stock has been an ongoing disappointment, but I put it back on the Top 25 list. They acquired a project in Guinea that adds to their risk-reward, which is compelling.”

His full note is here:

https://twitter.com/dondurrett/status/1389368658183344128?s=21

Some Highlights:

Don puts cash cost at $950
Don puts all in cost at $1500
Given large resource he expects LOM to extend
Describes Kouroussa as a bargain
Whilst doesn’t know capex cost says we can probably expect equity dilution to fund CAPEX
He asks why investors hated this stock - and puts it down to high costs

Cora put out an RNS yesterday with their latest drill results in case anyone missed it. For me, the potential synergies between the two businesses look interesting. A natural 4th Hum project perhaps

We were told in a Hum interview the Cabinet meets on a Thursday. Could today be the day...

One thing to look out for that’s not had much air time is the in progress green field Diaban drill campaign. This was delayed from 2020 due to success of SE. I was always struck that this particular exploration target is a rather large blob on the map. Good luck Murray and Team!

Cora put out a nice drill results RNS today, share price up 14%. HUM hold circa 11% of Cora.

I’m curious what the plan is with these investments. Being debt free will open up some possibilities perhaps.

https://www.**********.co.uk/articles/hummingbird-resources-ceo-dan-betts-on-q1-and-outlook-plus-john-meyer-on-7-resource-stocks-0d9b149/

Vox Markets interview. Dan is travelling to West Africa next weeks and will meet the Minister of Mines. Signing ceremony perhaps?

For me company is rapidly becoming more investable. Communication is clear and straightforward. There is the welcome invitation to ask questions. The COO appointment is reassuring. I would also like thank to the investor group for giving private investors a voice and the company for its mature and shareholder friendly response

Bunker Hill has released the PEA, 101m NPV 20m annual FCF. There’s exploration upside to come. Hum hold around 6% I believe

https://www.globenewswire.com/news-release/2021/04/20/2213079/0/en/Bunker-Hill-Announces-Robust-Restart-PEA-101M-NPV-46-IRR-2-5-Year-Payback-42M-Initial-Capex-20M-Average-Annual-FCF-Over-10-Years.html

We have one piece of guaranteed news to look forward to tomorrow. Bunker Hill will announce their PEA before the markets open. I watched their latest presentation on the weekend. Have to say I’m impressed. They also have multi-mine ambitions and the new team seems great