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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 6.5Moz. of gold in the reserves and resources category of which 3Moz. are in the measured and indicated category. They have a market capitalisation of ~$112.2M which is a rise of roughly 31% over the last two months. As of 07/12/2019 they have ~$56M debt and ~$13M 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 07/12/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $85.66M $112.20M 07/12/2019 $26.54M
Total Assets: $260.00M $260.00M 07/12/2019 $0.00M
Total Liabilities: $130.00M $130.00M 07/12/2019 $0.00M
Current Assets: $48.00M $48.00M 07/12/2019 $0.00M
Current Liabilities: $75.00M $75.00M 07/12/2019 $0.00M
Total Debt: $56.00M $56.00M 07/12/2019 $0.00M
Cash: $13.00M $13.00M 07/12/2019 $0.00M
Enterprise Value: $128.66M $155.20M 12/02/1974 $26.54M
Cash Flow: $16.59M $24.34M never $7.75M
Cash Flow Multiple: 5.16 4.61 never -0.55
Net Debt to
Cash Flow Ratio:
2.59 1.77 never -0.82
Finance within 1 year: 07/12/2019 n/a
Tax Rate: (guess)  30.00% (guess)  30.00% 07/12/2019 0.00%
Misc 07/12/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 354,000,000 354,000,000 07/12/2019 0
Shares (FD): 364,000,000 364,000,000 07/12/2019 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 07/12/2019 n/a
Production (Gold Eq Oz.): (guess) 
110,000
(guess) 
110,000
07/12/2019 0
Production (Silver Eq Oz.): (guess) 
10,243,750
(guess) 
9,270,206
07/12/2019 -973,544
Initial CapEx (Outstanding): $80.00M
93.39% of Mkt.Cap
$80.00M
71.3% of Mkt.Cap
07/12/2019 $0.00M
Funding Option: n/a n/a 07/12/2019 n/a
Documentation: none PRODUCER 07/12/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 07/12/2019
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 07/12/2019 0.00M
Measured & Indicated: 3.00M 3.00M 07/12/2019 0.00M
Inferred: 3.50M 3.50M 07/12/2019 0.00M
Reserves & Resources: 6.50M 6.50M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.63M 0.63M 07/12/2019 0.00M
Measured & Indicated: 2.29M 2.29M 07/12/2019 0.00M
Inferred: 1.58M 1.58M 07/12/2019 0.00M
Reserves & Resources: 3.86M 3.86M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
110,000oz.
(guess) 
110,000oz.
07/12/2019 0oz.
Cash Cost: $800 $800 07/12/2019 $0.00
Extra Operating Cost: $400 $400 07/12/2019 $0.00
Average Grade: 2.00 g/t 2.00 g/t 07/12/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 07/12/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 4.00M 4.00M 07/12/2019 0.00M
Annual Production: 200,000oz. 200,000oz. 07/12/2019 0oz.
Cash Cost: $800 $800 07/12/2019 $0
Extra Operating Cost: $400 $400 07/12/2019 $0
SILVER 07/12/2019
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 07/12/2019 0.00M
Measured & Indicated: n/a n/a 07/12/2019 0.00M
Inferred: n/a n/a 07/12/2019 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 07/12/2019 0.00M
Measured & Indicated: n/a n/a 07/12/2019 0.00M
Inferred: n/a n/a 07/12/2019 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 07/12/2019 $0.00
Extra Operating Cost: n/a n/a 07/12/2019 $0.00
Average Grade: n/a n/a 07/12/2019 n/a
Recovery Rate: n/a n/a 07/12/2019 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 07/12/2019 0.00M
Annual Production: n/a n/a 07/12/2019 n/a
Cash Cost: n/a n/a 07/12/2019 n/a
Extra Operating Cost: n/a n/a 07/12/2019 n/a

Property

Last Analysis Data  (07/12/2019)
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
07/12/2019
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 -6.20M
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 -5.58M
Maximum Profit (Gold): $95.04M $139.40M n/a $44.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $95.04M $139.40M n/a $44.36M
Max Profit / Current MCap: 1.109 1.242 n/a 0.133
Max Profit Per Share (Gold): $0.26 $0.38 n/a $0.12
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.26 $0.38 n/a $0.12
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $135.97 $178.09 n/a $42.12
FD Mkt. Cap / Silver Eq.: $1.46 $2.11 n/a $0.65
FD Mkt. Cap / Per Metal
as % Spot Price:
9.61% 11.75% n/a 2.14%
Measured &
Indicated
07/12/2019
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 -26.55M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.29M 2.29M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -20.23M
Maximum Profit (Gold): $344.84M $505.82M n/a $160.98M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $344.84M $505.82M n/a $160.98M
Max Profit / Current MCap: 4.026 4.508 n/a 0.483
Max Profit Per Share (Gold): $0.95 $1.39 n/a $0.44
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.95 $1.39 n/a $0.44
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $37.47 $49.08 n/a $11.61
FD Mkt. Cap / Silver Eq.: $0.40 $0.58 n/a $0.18
FD Mkt. Cap / Per Metal
as % Spot Price:
2.65% 3.24% n/a 0.59%

Reserves &
Resources
07/12/2019
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.): 6.50M 6.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -57.53M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.86M 3.86M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -34.17M
Maximum Profit (Gold): $582.43M $854.32M n/a $271.89M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $582.43M $854.32M n/a $271.89M
Max Profit / Current MCap: 6.799 7.614 n/a 0.815
Max Profit Per Share (Gold): $1.60 $2.35 n/a $0.75
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.60 $2.35 n/a $0.75
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $22.19 $29.06 n/a $6.87
FD Mkt. Cap / Silver Eq.: $0.24 $0.34 n/a $0.11
FD Mkt. Cap / Per Metal
as % Spot Price:
1.57% 1.92% n/a 0.35%

Future Valuation (Cash Flow & Totals)

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