George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The production rate just went from poor to zero and we still have debt to pay. I know which I'd prefer!
Why on earth would DB get it right with the next contractors? Why give him any faith when he's repeatedly shown he's not up for the task?
Exactly. DB had no backup plan. Given how risky mining in Africa is, not having a contingency when there was supposedly a year of warning is incredibly poor.
Its his repeated inability to overcome the inevitable obstacles that make him unsuited to being CEO. This is PRECISELY what the good CEOs manage to do - overcome challenges effectively.
Only a crazy person would regard what's happened positively imo, but I am used to encountering crazy people who fall in love with shares on these boards!
Better due diligence upfront.
Better lawyers to tighten up the contracts.
Better communication with shareholders - he's been telling us all was well but its supposedly not been well for over a year.
Such a pity that gold is at 2350 and hummingbird can't profit from it. Really quite poor from Dan Betts. At these gold prices it's surely better to simply keep the peace and accept that productivity in Guinea is notoriously poor. Instead he shoots himself in the foot along with all investors. Cutting off his nose to spite his face.
Really childish and not what you want from the guy in charge.
Bushy, I'm not putting too much in ANY small cap miner, because they face such company specific risk.
My thesis remains that the gold price is going up, and I want to capitalise on that. Hummingbird is a dud, but others are doing incredibly well.
At current share price this still has a 40m market cap, so there is a LONG way to fall still. Don't be surprised to see this keep falling while awaiting resolution.
Best thing they could do at this point is fire management
Gold is literally at an all time high and hummingbird is at a 52 week low.
If the price of gold mattered, this would not be the case. Go look at every other miner that is actually delivering gold!
Delivery matters. If you can't deliver the gold, the gold price is not relevant.
Very very simple, as DavidBrent explained if you bothered to read. If Yan is not making enough money to produce positive cashflow, hummingbird face the very real risk of going under.
A capital raise at this point would erode so much value just to keep the lights on.
The fact Dan holds so few hum shares says it all. He doesn't care
Not sure why you're surprised, Dan has contempt for shareholders and hummingbird never provides them with the information they need to make informed decisions.
Bet your bottom dollar there are things we are not being told, and they are invariably negative
Hummingbird is worth zero, as I said a week ago.
Get out now while you have the chance to get more than it's worth. Dan will continue to run this into the ground, he is inept at overcoming the challenges that miners typically face.
There will always be issues, and time and again he's been found wanting. I'm utterly shocked ppl are considering buying in here when it's going concern status is so questionable