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Hummingbird Resources Ord Shs HUMRF

Metals & Mining Gold
Hummingbird Resources PLC is a multi-asset, multi-jurisdiction gold production, development and exploration company. The Company has two core gold projects: its flagship asset, the Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea. It also controls the Dugbe Gold Project in Liberia. The Yanfolila Gold Mine is located in southern Mali, and is a high-grade open pit mining operation with significant underground potential. The Kouroussa Mine is situated in the prolific Siguiri Basin in Guinea and has a high-grade resources base of 1.2 million ounces (Moz) at 3.02 grams per ton (g/t) and Reserves of 647 koz at 4.15 g/t. The Dugbe Gold Mine is situated within the Dugbe Shear Zone and crosses its Dugbe and Joe Village Licences. The Dugbe Shear Zone is located in south-eastern Liberia, located 40 miles by road from the deep-water port of Greenville, the capital city of County Sinoe. The Dugbe Gold Mine is made up of three mineral-rich discoveries (Dugbe F, Tuzon and Sackor).


OTCPK:HUMRF - Post by User

Hummingbird Resources Ord Shs
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Comment by carinthianon Aug 03, 2016 4:48pm
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Post# 25107842

RE:RE:RE:RE:RE:Rough estimate of humminbirds true value

RE:RE:RE:RE:RE:Rough estimate of humminbirds true value
Monkeydonkey wrote: A loan of 70M or 10M is a huge difference. An exploration company doesnt just get a loan that big today. That 10M could be a streaming deal, loan, placement,...

Exploration stage companys always have to dilute. This one is going to survive now imho.

But however, i believe hum will get picked up by a bigger west african miner when the project is (almost) built. Just like True gold was. I hope gold is 1600+ by then, and i can triple up.



A loan for 70mio would have been easy to pay down within the first 3-4 years due to the production schedule and there would have been enough meat for shareholders as well given a sharebase of 100mio and not 300mio... 

70mio debt for building a project with such economics is a laugh as in Latin America there are companies getting +200mio in debt to build their project with a lot lower IRR so I fear there is a flaw somewhere as Taurus never got over to the real financing stage...

And this thing now needs - as you say - a rising gold price and not - like others - the current price and the mine built to triple or more...THAT is the huge difference in my valuation.

This is the same tragedy as Lydian... 

Just my personal thoughts. DYODD
carinthian
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