Member Info for sands1971

Our valuation is sensitive to several key assumptions such as oil price, WACC, farm-out dilution
and development costs. The valuation waterfall below provides a breakdown of our risked valuation
prior to farm-down at 62.1p/share, followed by what this potential could look like post farm-down at
a range of oil prices. Edison’s base case valuation of 30.8p/share is on the basis of a $70/bbl Brent
long-term oil price and 50% asset level value dilution. We note that the market is currently
assuming a lower oil price assumption and a higher risking/asset level dilution than Edison’s base
case valuation. In the exploration success case, our unrisked valuation would be significantly higher
than our base case 30.8p/share risked valuation at 265p/share. We caveat that completely unrisked
valuations do not take into account our view of geological, technical, commercial or political risks
and should be used for indicative purposes only.

Just to clarify your point is not on the Bunker Hill specifics per se but that you believe it shows a lack of judgement from the management? That I can agree with and I would add by not giving any comms/details on why they believe it fits exacerbates the issue.

Dropinmonkey this share price has been languishing far before last weeks announcement of the Bunker Hill deal but you think your point is proved due to the way the SP is behaving?

How long does the legal process take to enable the company to start this? If I'm right it was first included in an RNS in OCtober 2017 and it looks like the process could take up to a year or more. That seems like a very long time to me (but I could be wrong).

Is Idaho anywhere near Aspen in Colorado? Isn't Dan a skiier? Maybe he lost a bet and the fee was this investment as like others I can't see the logic in it either!!

Jibbo I do wonder if its the II and not the PI that will make this SP move in a large way and therefore its pressing palms that is needed probably more than anything. Although I do also wonder if at the moment we are overthinking this and the downturn in gold price and the continuing performance of the markets is keeping us down and when sentiment changes we should benefit. Is it a reverse perfect storm at the moment and to our detriment?

I didn't listen in but it seems now twice Dan has bristled at questions 1) the other week at the AGM regarding more communication and now 2) when commitment questioned regarding buying stock himself. If in 2 or 3 years the shares are £3 a pop (I know may never get there) him selling some shares would not decimate the share price in fact it would be seen as good planning on his part. Doesn't seem to like some questions.

One day closer to the Q2 update, hoping its a great update and will help raise interest in Hummingbird once more

Perry all info shared on these boards is available publicly so if you trust something on here without checking and doing further research then you run the chance of coming unstuck. Some day traders don’t give a f#ck if they cost people their lifesaving, or part of them, and they are the worst hence never trust a message board post to base an investment on.

If you know message boards and how they work then yes 100% ignore them. Rampers and de-rampers are some of the most vile people going and these message boards are full of them.

Surely anyone that buys shares based purely on message board posts is a fool and what they say about a fool and their money is a very accurate saying

I agree they could have bought more but if in a closed period, firstly due to issuing of annual accounts then due to JV negotiations, then they may not be able to BUT they could have last year and still didn’t so I agree with you they should have bought more.

That HUM are not alone in SP malaise

Frustration When you are unfortunate enough to top-up at bargain prices when it seems silly not to at the time and the SP continues to drop like a stone, it's only natural for frustration to surface.IMO

Really struggle with this fall yet again. Decent RNS comes out, there's a lot of activity going on and they're hitting their targets but the share goes into reverse yet again. Yes, I will buy some more and am building up a decent holding, but at some point I hope people take notice of this company and it starts to move in the right direction.

Perry how are other goldmining shares doing? I don’t think the SP here is behaving massively differently to other goldies over last 3 months or so, more of a general malaise that HUM is part of maybe?

Truth being ignored again Jibbo?

It’s just your constant negativity, you are a black cloud over this board. Compare your posts to someone like Perry’s. Also unhappy but willing to detail his thoughts/concerns whilst you just bleat on and on. Feel free to keep expressing your opinion as it’s time to filter. Life’s to short to allow such negative energy to continue.

Yes BT you’ve made the whole world more than aware for almost the last 6 months that you have concerns, we know, we’ve been subjected to your concerns on a daily f*cking basis for far too long now, how about selling up if you are that concerned? You tell us you are (one of the few according to you) in profit so how about taking your profit and leaving us in peace?

Yes it was spiralling downwards if I remember rightly!! My take on the SP is for numerous reasons there’s not enough demand and it’d take me too long to list and I’d probably miss some along the way. Patience is required though for any investment but don’t ask me how long!!