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Hummingbird Resources Ltd

www: www.hummingbirdresources.co.uk   email: IR@hummingbirdresources.co.uk
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
LON:HUM GBX
OTCMKTS:HUMRF USD

Description

Hummingbird Resources Ltd are a gold focused mid-tier producer with one mine in development in Mali and one exploration property. They have approximately 4.2Moz. of gold in the reserves and resources category of which 3Moz. are in the measured and indicated category. They have a market capitalisation of ~$59.93M which is a fall of roughly 42% over the last twelve months. As of 05/01/2023 they have ~$120M debt and ~$9M cash. They have 601M shares outstanding and trade on the London Stock Exchange and the over-the-counter markets.

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General Details

Financial 05/01/2023
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $104.16M $59.93M 05/01/2023 $-44.23M
Total Assets: $300.00M $300.00M 05/01/2023 $0.00M
Total Liabilities: $232.00M $232.00M 05/01/2023 $0.00M
Current Assets: $30.00M $30.00M 05/01/2023 $0.00M
Current Liabilities: $78.00M $78.00M 05/01/2023 $0.00M
Total Debt: $120.00M $120.00M 05/01/2023 $0.00M
Cash: $9.00M $9.00M 05/01/2023 $0.00M
Enterprise Value: $215.16M $170.93M 06/02/1975 $-44.23M
Cash Flow: $43.37M $58.30M never $14.93M
Cash Flow Multiple: 2.40 1.03 never -1.37
Net Debt to
Cash Flow Ratio:		 2.56 1.90 never -0.66
Finance within 1 year: 05/01/2023 n/a
Misc 05/01/2023
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 601,000,000 601,000,000 05/01/2023 0
Shares (FD): 608,000,000 608,000,000 05/01/2023 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2018 05/01/2023 n/a
Production (Gold Eq Oz.): (guess) 
90,000		 (guess) 
100,000		 04/25/2024 10,000
Production (Silver Eq Oz.): (guess) 
7,152,005		 (guess) 
8,570,904		 04/25/2024 1,418,899
Initial CapEx (Outstanding): $80.00M
76.8% of MCap		 $80.00M
133.49% of MCap 		05/01/2023 $0.00M
Funding Option: n/a n/a 05/01/2023 n/a
Documentation: none PRODUCER 04/25/2024 n/a
Future MCap Modifier: 0.15
Producer: Average
 0.15
Producer: Average
 04/24/2023 0
Cash Flow Multiplier: 8 8 04/13/2023 0.00

Resource Data

GOLD 05/01/2023
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 1.00M 1.00M 05/01/2023 0.00M
Measured & Indicated: 3.00M 3.00M 05/01/2023 0.00M
Inferred: 1.20M 1.20M 05/01/2023 0.00M
Reserves & Resources: 4.20M 4.20M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.90M 0.90M 05/01/2023 0.00M
Measured & Indicated: 2.34M 2.34M 05/01/2023 0.00M
Inferred: 0.54M 0.54M 05/01/2023 0.00M
Reserves & Resources: 2.88M 2.88M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
90,000oz.		 (guess) 
100,000oz.		 04/25/2024 10,000oz.
Cash Cost: $1,000 $1,200 04/25/2024 $200.00
Extra Operating Cost: $500 $550 04/25/2024 $50.00
G
R
A
D
E		 Underground (Avg): 2.00 g/t n/a 03/23/2024 n/a
Open Pit (Avg): n/a 2.00 g/t 03/23/2024 2.00 g/t
Recovery Rate: (CG)  90.00% (CG)  90.00% 04/25/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 3.00M 3.00M 05/01/2023 0.00M
Annual Production: 200,000oz. 175,000oz. 04/25/2024 -25,000oz.
Cash Cost: $1,100 $1,100 05/01/2023 $0
Extra Operating Cost: $500 $500 05/01/2023 $0
SILVER 05/01/2023
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 05/01/2023 0.00M
Measured & Indicated: n/a n/a 05/01/2023 0.00M
Inferred: n/a n/a 05/01/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 05/01/2023 0.00M
Measured & Indicated: n/a n/a 05/01/2023 0.00M
Inferred: n/a n/a 05/01/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/01/2023 $0.00
Extra Operating Cost: n/a n/a 05/01/2023 $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 05/01/2023 n/a
Open Pit (Avg): n/a n/a 05/01/2023 n/a
Recovery Rate: n/a n/a 05/01/2023 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 05/01/2023 0.00M
Annual Production: n/a n/a 05/01/2023 n/a
Cash Cost: n/a n/a 05/01/2023 n/a
Extra Operating Cost: n/a n/a 05/01/2023 n/a

Property

Last Analysis Data  (05/01/2023)
Stage Name Owned Au Ag Cu Notes
Exp Kouroussa 100% show
1.2 million oz at 3 gpt
Dev Dugbe 50% show
4 million oz open pit project.

$212 million capex

Feasibility study in 2014

1 million acres. 140 targets.
Dev Yanfolila 80% show
Construction begins in 2015.

1.8 million oz at 2.5 gpt.

Very economic.
Total Land Package Size (ha): 270,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Kouroussa 100% show
1.2 million oz at 3 gpt
Dev Yanfolila 80% show
Construction begins in 2015.

1.8 million oz at 2.5 gpt.

Very economic.
Total Land Package Size (ha): 230,000  

Profitability (by resource)

Proven &
Probable		 05/01/2023
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 6.24M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.90M 0.90M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 5.62M
Maximum Profit (Gold): $433.71M $524.70M n/a $90.99M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $433.71M $524.70M n/a $90.99M
Max Profit / Current MCap: 4.164 8.755 n/a 4.592
Max Profit Per Share (Gold): $0.71 $0.86 n/a $0.15
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.71 $0.86 n/a $0.15
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $115.74 $66.59 n/a $-49.15
FD MCap / Silver Eq.: $1.46 $0.78 n/a $-0.68
FD MCap / Per Metal
as % Spot Price:		 5.84% 2.85% n/a -2.99%
Measured &
Indicated		 05/01/2023
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.00M 3.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 18.73M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.34M 2.34M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 14.61M
Maximum Profit (Gold): $1,127.65M $1,364.22M n/a $236.57M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,127.65M $1,364.22M n/a $236.57M
Max Profit / Current MCap: 10.826 22.764 n/a 11.938
Max Profit Per Share (Gold): $1.85 $2.24 n/a $0.39
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.85 $2.24 n/a $0.39
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $44.51 $25.61 n/a $-18.90
FD MCap / Silver Eq.: $0.56 $0.30 n/a $-0.26
FD MCap / Per Metal
as % Spot Price:		 2.25% 1.10% n/a -1.15%

Reserves &
Resources		 05/01/2023
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.20M 4.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 26.22M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.88M 2.88M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 17.98M
Maximum Profit (Gold): $1,387.87M $1,679.04M n/a $291.17M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,387.87M $1,679.04M n/a $291.17M
Max Profit / Current MCap: 13.324 28.017 n/a 14.693
Max Profit Per Share (Gold): $2.28 $2.76 n/a $0.48
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.28 $2.76 n/a $0.48
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $36.17 $20.81 n/a $-15.36
FD MCap / Silver Eq.: $0.46 $0.24 n/a $-0.21
FD MCap / Per Metal
as % Spot Price:		 1.82% 0.89% n/a -0.93%

Future Valuation (Cash Flow & Totals)

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