Member Info for shamI89

Are planning on buying it when both of these options wont leave no or very little value for equity holders.

Problem is aisc would spiral out of control and that leads nothing to pay lenders.I do think it will be sorted but if it drags out for a little bit longer, company would need more funds and that is not an ideal situation.Dan has to go.

There are three or four other contracts too.DRC was meant to be a formality and PF put the boots on ground without getting paid rest is as they history.However he must be sitting on 10-20 mous right now.

Are promoting it so that means one thing only.I am still surprised that PF has managed to get this far without placing.DRC ratification was meant to be a formality many moons ago but....

In my opinion in should be sorted really quickly, quickly,however if it drags on little bit further that it can impact company's finances and there wont be any room for any further mistakes.

Rising price of gold has saved this company right now otherwise it would have run out of money.Right now they need to stablise production and then expand it gradually.They need to bring in new management.

Either way I still believe a settlement would be reached between two parties but lenders have to approve

Says who?

Company cant afford to say no to coirca as other mine is at stake, in my opinion company has no choice but to pay them.However this process has to be approved by lenders and payments to lenders would need to be pushed forward.

Court I am afraid,suspension of operation would impact cash flows and company would need to push due payments further.However ramping production would be key to increase future cashflow and you cant do it when your main contractor is walking away.

They are not going to pay this contractor for this mine but expect it to continue working at other.Production halt that can impact company's finances

Sometime, recently quite a few have been burnt heavily in these sort of gambles but they cant help it.Wait for RNS as very next RNS send it crashing down even further

Release an RNS to outline their strategy.We dont want after hours RNS to confirm speculation.Coirca does seem to have a decent list of clients and know what they are doing.So looks like whatever problem is Hummingbird has a part to play in it.

It is not just "short-term loan" only , future payments to lenders would be pushed too and this fiasco puts a question mark on every revenue/production forecast.This company has a habit of overpromising and underdeilvering and have only hit forecast coupke of times.It is due to rising price of gold that has helped them this year.

Someone would get these mines really cheaply when these were financed and developed by aim investors.Right now fresh cash injection is needed along with complete overhaul of management.

Hummingbird has more to lose than coirca, they should have paid when required.If this escalates it can lead to second mine closure and that is a disastrous situstion.My opinion is company is either seeking further funds to pay contractors or is trying to push debt repayments or needs lenders permissions to issue more shares and none of these scenarios bodes well for shareholders.Equity is worthless right now

Clearly company was happy with their performance at other mine otherwise would not have brought them in.Something is not adding up here, it is either incompetence,fraud or both.It is chain of reactions that can bring the company down.

So why does company not issue an RNS to clarify few things.In one of previous updates it was stated that contractors would be paid once mine is in production and that was meant to happen in Q2 2023.It looks like Coirca has been chasing them for money for quiet sometime and decided that enough is enough.Q1 results would be terrible if this drags on for bit longer.

It is hell alot of money and rest assured that a few discussions would have been held behind the scenes.

Need to issue an RNS to outline any future plan it may have.These crooks were sitting on price sensitive information and decided to withold it.