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).

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Hummingbird Resources Ord Shs

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Comment by ts9222on Jan 31, 2018 4:50pm

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Post# 27474504

RE:RE:Takeover lagging?

If HUM gets $70m FCF this year as predicted by the company (this could well happen with gold currently above $1300 which is above their feasibility study), then HUM would be debt free by the end of this year. No need to worry about that 9%.

If HUM were to be sold, it would be much better to be sold at the end of this year than the beginning of this year.

Monkeydonkey wrote:

Monkeydonkey wrote: Hum should be at 60p by now. Something must be up... I think a take-over is coming in the next few weeks. With gold up to 1350 Hum is just so incredibly cheap right now. We are being held down by someone, i can only think of one reason, take over. Lets hope we get at least more than 50% premium.

Will my hunch prove correct? I think the edv private placement is dont to take over hummingbird. 300M USD at 3%. Hum's debt facility is 9%. Edv can take over here for a 50%+ premium, pay down the debt to save a lot of $$$, and still have some pocket change left to improve stuff and do the Dugbe DFS.
So even if they pay cash its paid for with the PP. Could also issue shares...