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This will turn soon and it looks like we will get an update before Q4 update in 4 weeks time.
Looking at the last RNS we should get ...
§ Drilling: A final drilling programme is being carried out at the Sanioumale East ("SE") deposit. Results to be released before year-end to complete Hummingbird's, to date, successful 2020 exploration and drilling campaign
§ 2021 budget: The Company's 2021 budget is expected to be finalised in the coming weeks, with the aim to release in Q1 2021, including key findings and forecast estimates.
Then in the maybe pile is...
§ Kouroussa gold project, Guinea: Pre-development plans are continuing. The Company is awaiting the award of the mining license by the government to then move into the development stage of this exciting gold project once pre-development plans are complete.
You would expect one of these updates to include an operational update along the lines of "we've had a good end to the quarter".
Hopefully this will coincide with gold picking up next week on the massive US stimulus deal. Lot's coming before year end so make sure you're in it to win it!
They're net debt free now* going into 6months of good weather/production where they can attack that high grade gold they missed.
Show some confidence and nab these cheap shares before gold rockets again.
*Assuming they've not paid a chunk on the new mine.
I've just topped up (AGAIN). Q4 news out in 5-6 weeks. With gold shooting up with the looming stimulus, I cannot see the down side. This aggressively flips once SC are out.
I wish HUM would buy SC's remaining shares at this bargain price. SC must be down to the last few £million.
I think part of it is deflection from their own directors were selling at the same time!
The new presentation HUM is full of information and the upside of LOM is clear.
https://wp-hummingbirdresources-2020.s3.eu-west-2.amazonaws.com/media/2020/10/26082553/Hummingbird-Resources-Presentation-Q320.pdf
Also in one of the interviews Dan mentions that he will only know if we are officially net debt free when the accounts tell him at the end of the month. So I'm hoping for an RNS next week.
Looks as though it will be Monday now. Hums volume has been off all week so not surprised.
Don’t mind the wait especially if this stimulus deal is reached.
I just hope HUM have got some decent media coverage lined up.
End of H1 we had a net debt of US$12 million (inc. gold dour).
We received $2million from Dugbe (plus reduction in Dugbe costs/) = Net debt of US$10m
H1 HUM made a pre-tax profit of US$23.7 million. Let's say worst case we maintain this pre-tax profit into Q3 (despite POG increasing by $250) gives us $11.85m at end of Q3.
Add another 20 days of mining (conservative $2m+ pre tax profit) means we have a cushion of +$4m net debt and that's me being conservative with our production numbers and not including POG being 14%+ higher in Q3 than Q2 (add's <$1.5m/$2m).
Add this to the positive news on drilling that will extend our Yanf. LOM, progression at Kouroussa, progression plus free exploration carry at Dugbe, positive news from Cora and Bunker hill.
It's quiet here at the moment but cheap as chips under 40p & a M/C of £140m!