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Hummingbird Resources Ltd

www: www.hummingbirdresources.co.uk   email: enquiries@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 two mines in development in Liberia and Mali. They have approximately 4Moz. of gold in the reserves and resources category of which 2Moz. are in the measured and indicated category. They have a market capitalisation of ~$184.61M which is a rise of roughly 54% over the last five months. As of 05/02/2020 they have ~$34M debt and ~$25M cash. They have 354M shares outstanding and trade on the London Stock Exchange and the over-the-counter markets.

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General Details

Financial 05/02/2020
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $120.11M $184.61M 05/02/2020 $64.50M
Total Assets: $260.00M $260.00M 05/02/2020 $0.00M
Total Liabilities: $100.00M $100.00M 05/02/2020 $0.00M
Current Assets: $50.00M $50.00M 05/02/2020 $0.00M
Current Liabilities: $55.00M $55.00M 05/02/2020 $0.00M
Total Debt: $34.00M $34.00M 05/02/2020 $0.00M
Cash: $25.00M $25.00M 05/02/2020 $0.00M
Enterprise Value: $129.11M $193.61M 02/19/1976 $64.50M
Cash Flow: $42.27M $62.92M never $20.65M
Cash Flow Multiple: 2.84 2.93 never 0.09
Net Debt to
Cash Flow Ratio:
0.21 0.14 never -0.07
Finance within 1 year: 05/02/2020 n/a
Tax Rate: (guess)  30.00% (guess)  30.00% 05/02/2020 0.00%
Misc 05/02/2020
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 354,155,000 354,155,000 05/02/2020 0
Shares (FD): 364,000,000 364,000,000 05/02/2020 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2018 05/02/2020 n/a
Production (Gold Eq Oz.): (guess) 
120,000
(guess) 
120,000
05/02/2020 0
Production (Silver Eq Oz.): (guess) 
13,671,171
(guess) 
8,749,719
05/02/2020 -4,921,451
Initial CapEx (Outstanding): $80.00M
66.61% of Mkt.Cap
$80.00M
43.34% of Mkt.Cap
05/02/2020 $0.00M
Funding Option: n/a n/a 05/02/2020 n/a
Documentation: none PRODUCER 05/02/2020 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 05/02/2020
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 0.70M 0.70M 05/02/2020 0.00M
Measured & Indicated: 2.00M 2.00M 05/02/2020 0.00M
Inferred: 2.00M 2.00M 05/02/2020 0.00M
Reserves & Resources: 4.00M 4.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.63M 0.63M 05/02/2020 0.00M
Measured & Indicated: 1.57M 1.57M 05/02/2020 0.00M
Inferred: 0.90M 0.90M 05/02/2020 0.00M
Reserves & Resources: 2.47M 2.47M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
120,000oz.
(guess) 
120,000oz.
05/02/2020 0oz.
Cash Cost: $800 $800 05/02/2020 $0.00
Extra Operating Cost: $400 $400 05/02/2020 $0.00
Average Grade: 2.00 g/t 2.00 g/t 05/02/2020 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 05/02/2020 0.00%
F
U
T
U
R
E
Proven & Probable: 3.00M 3.00M 05/02/2020 0.00M
Annual Production: 150,000oz. 150,000oz. 05/02/2020 0oz.
Cash Cost: $800 $800 05/02/2020 $0
Extra Operating Cost: $400 $400 05/02/2020 $0
SILVER 05/02/2020
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 05/02/2020 0.00M
Measured & Indicated: n/a n/a 05/02/2020 0.00M
Inferred: n/a n/a 05/02/2020 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 05/02/2020 0.00M
Measured & Indicated: n/a n/a 05/02/2020 0.00M
Inferred: n/a n/a 05/02/2020 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 05/02/2020 $0.00
Extra Operating Cost: n/a n/a 05/02/2020 $0.00
Average Grade: n/a n/a 05/02/2020 n/a
Recovery Rate: n/a n/a 05/02/2020 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 05/02/2020 0.00M
Annual Production: n/a n/a 05/02/2020 n/a
Cash Cost: n/a n/a 05/02/2020 n/a
Extra Operating Cost: n/a n/a 05/02/2020 n/a

Property

Last Analysis Data  (05/02/2020)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Liberia, Liberia Dugbe 100% (guess) 40,000 Open Pit show
4 million oz open pit project.

$212 million capex

Feasibility study in 2014

1 million acres. 140 targets.
Development West Africa, Mali Yanfolila 80% (guess) 230,000 Open Pit 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 Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Liberia, Liberia Dugbe 100% (guess) 40,000 Open Pit show
4 million oz open pit project.

$212 million capex

Feasibility study in 2014

1 million acres. 140 targets.
Development West Africa, Mali Yanfolila 80% (guess) 230,000 Open Pit show
Construction begins in 2015.

1.8 million oz at 2.5 gpt.

Very economic.
Total Land Package Size (ha): 270,000  

Profitability (by resource)

Proven &
Probable
05/02/2020
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.): 0.70M 0.70M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -28.71M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.63M 0.63M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -25.84M
Maximum Profit (Gold): $221.91M $330.31M n/a $108.40M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $221.91M $330.31M n/a $108.40M
Max Profit / Current MCap: 1.848 1.789 n/a -0.058
Max Profit Per Share (Gold): $0.61 $0.91 n/a $0.30
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.61 $0.91 n/a $0.30
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $190.65 $293.03 n/a $102.38
FD Mkt. Cap / Silver Eq.: $1.67 $4.02 n/a $2.35
FD Mkt. Cap / Per Metal
as % Spot Price:
11.19% 15.03% n/a 3.84%
Measured &
Indicated
05/02/2020
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.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -82.02M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.57M 1.57M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -64.22M
Maximum Profit (Gold): $551.61M $821.05M n/a $269.45M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $551.61M $821.05M n/a $269.45M
Max Profit / Current MCap: 4.593 4.448 n/a -0.145
Max Profit Per Share (Gold): $1.52 $2.26 n/a $0.74
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.52 $2.26 n/a $0.74
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $76.70 $117.89 n/a $41.19
FD Mkt. Cap / Silver Eq.: $0.67 $1.62 n/a $0.94
FD Mkt. Cap / Per Metal
as % Spot Price:
4.50% 6.05% n/a 1.55%

Reserves &
Resources
05/02/2020
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.): 4.00M 4.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -164.05M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.47M 2.47M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -101.14M
Maximum Profit (Gold): $868.62M $1,292.92M n/a $424.30M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $868.62M $1,292.92M n/a $424.30M
Max Profit / Current MCap: 7.232 7.004 n/a -0.228
Max Profit Per Share (Gold): $2.39 $3.55 n/a $1.17
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.39 $3.55 n/a $1.17
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $48.71 $74.86 n/a $26.16
FD Mkt. Cap / Silver Eq.: $0.43 $1.03 n/a $0.60
FD Mkt. Cap / Per Metal
as % Spot Price:
2.86% 3.84% n/a 0.98%

Future Valuation (Cash Flow & Totals)

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