Member Info for twogoals

Looking strong for next week and the moment we turn net cash positive! A massive stepping stone for the company!

With the gold price today we might find out! Haha

I know Bunker Hill has been a contentious subject on these boards. I'm interested in hearing peoples opinions on how it is currently sitting.
Like most things, it's not valued in the SP but by my beginner eyes it has not been a big burden on our financial situation. BH did a big raising in January so they look to be in a good situation in this current environment (assuming they find more silver with their drilling program). I'm not saying this was the right decision but should we start to look at this with new eyes and hopefulness?

"On 26 February 2020, Bunker Hill Mining Corporation ("Bunker Hill") (CSE:BNKR), announced the closing of the first tranche of a placing of up to C$4,000,000 at C$0.56 per Common Share (the "Placement").
As part of the Placement, Hummingbird has participated in the quantum of US$600,000, split according to a US$300,000 cash investment and a US$300,000 conversion of the Loan (as defined below), equating to a total subscription, all at C$0.56, for 1,392,857 Common Shares.
Following the Placement, Hummingbird holds 4,052,857 Common Shares, equating to an interest in Bunker Hill of 5.8 per cent, which at a current share price of C$0.73 has a approx. value of US$2m. In addition, Hummingbird holds 2,660,000 Common Share Warrants and balance of US$1.6m (excluding accrued interest) of the US$2m interest bearing convertible loan provided to Bunker Hill, as first announced on 19 July 2018."

Great work HUM. 100+ gold mines have closed around the world and yet you've hit targets!
Like the exploration drill comments. Even the bunker hill note shows that the investment has made money.

The research I've done has reassured me on a few things. The president of Mali stated on Friday that 2nd round of elections would go ahead next week as planned. He did say they were obviously concerned and are looking at a potential lockdown of Bamako as all the majority of cases have come from there.
Hum's mine is over 200km outside of the capital in an isolated area so that is good news from a production pov.
It's an open pit mine with little staff onsite so I think they can contain it in camp.

I also read this article today that shows how Barrick is trying to support the Mali government. I'm sure the gov. need miners gold/ tax during this time so there's a good chance miners will be exempt from any lockdown.
https://www.globenewswire.com/news-release/2020/04/10/2014785/0/en/Barrick-Joins-Fight-Against-Covid-19-in-Mali.html

HUM have less than $35m debt after this Q1 and targeting net cash position in H2 2020 so I'm very confident that even if they were effected by a temporary lockdown surely they would have enough cash to continue paying the loans. They had $9m cash at the end of Q4 so that should be significantly higher after a good Q1 and better POG average.

Wont be long to find out.

https://www.mining.com/desert-gold-sells-gold-project-in-mali-to-indigo/

The Djimbala permit is located in the Yanfolila Gold Belt and is surrounded by a number of gold deposits, mines and prospecting permits. In detail, the property lies immediately east of Hummingbird Resources’ 0.7 million-ounces Komana gold mine, 21 kilometres north, along strike, of the Kodieran gold Mine and 28 kilometres north, along strike, from Endeavour’s high grade 3.3 million-ounces Kalana project.

Q1 was on the 16th April last year so expecting it this week. Bring it on!

My broker is offering me only 26.65p a share. I think I need to remind them April fools is over!

Gold $1745!

For new investors looking for GOLD plays. Here is my HUM summary.

- HUM is a pure open pit gold play in West Africa
- Four consecutive quarters of increased production and cost reduction at Yanfolila from Q4 2018 to Q4 2019.
- Q1 RNS due this week
- Aisc $839/oz (current gold price $1700/oz)
- On track to be in a net cash position this year
- 5 years of gold reserves guaranteed but could eventually be double (at least?) that once we drill prospective areas near the mine (drilling happening now)
- Own 19% of Cora Gold & a potential deal to put their gold reserves through our mine
- Large scale gold resource with significant growth potential in the Dugbe project in Liberia. Another company is looking at taking this further with little risk to HUM.
- SP was at 39p before we started drilling so due a rerate (IMO).

So apart from us expecting the latest Q1 RNS (imminently) we have updates on drill results, update on Cora input, and update on Dugbe.

DYOR: Latest presentation https://hummingbirdresources.co.uk/wp-content/uploads/2020/02/Corporate-Presentation-Q1-2020.pdf

Anyone got level 2 on the next resistance once this goes?

Thanks DMonkey.

Hi dropinmonkey, I'm a relatively new investor. Do you mean that a buy back would boost the SP and hit their option price? I thought the recent options were based on performance targets (production/ lower aisc) and not SP?

Wow, going to be an interesting couple of days.

RNS due this week with hopefully a new record mined along with a new lower aisc record?

If we continue like this the change in gold price, lower aisc & favourable exchange rate will cover our remaining debt all by itself!

The Ave gold price for Q4 was $100 less than what it will be for Q1.
Looking ahead, add on another $100 plus for the current Q2 ave.
With oil costs going down I cannot wait to see the aisc for Q2!

You'd think that ARX would be keen to get this deal over the line asap? Fingers crossed this could be a nice bonus in the update this week.

Dugbe Gold Project

As previously announced, Hummingbird has continued to explore numerous avenues in order to progress the exploration and development potential of the Dugbe Gold Project in Liberia. We are pleased to announce that, as part of this process, Hummingbird has signed a non-binding memorandum of understanding with ARX Resources Limited ("ARX"), a BVI incorporated company, whereby, subject to certain conditions precedent, ARX will acquire the Dugbe project and commit at least US$30m for further exploration to increase the already substantial (4.2m oz, independently verified according to the CIM Code) gold inventory and complete a Feasibility Study on the Project. The 2013 PEA showed an NPV10 (post tax) of US$337 million at a US$1,500 gold price and a resource estimate that the management of ARX strongly believe they can materially improve upon.

The conditions precedent include but are not limited to the satisfaction of all legal, government and regulatory approvals; the approval of both Boards; the availability of at least US$30m of liquid finance; an approved management team with the requisite skills and experience to develop the project and satisfactory shareholder protections, including various anti-dilutionary rights for Hummingbird. As part of this deal, Hummingbird expects to become a significant shareholder in ARX, have Board representation and assist with the development and execution of all operating plans. Further updates will be forthcoming if the ARX deal progresses to a binding nature, of which there is no current certainty.

Could be a great week!
Do we reckon RNS 2mw or Wednesday?

These golden eggs are starting to move now!

Looks like gold wants to break out just before the long weekend.