Hummingbird Resources (HUM)

Sector:

Mining

Index:

FTSE AIM All-Share

24.90p
   
  • Change Today:
    -1.10p
  • 52 Week High: 28.50
  • 52 Week Low: 13.00
  • Currency: UK Pounds
  • Shares Issued: 353.69m
  • Volume: 868,588
  • Market Cap: £88.07m
  • Beta: 0.08

Hummingbird makes it through 'challenging' fourth quarter

By Josh White

Date: Wednesday 30 Jan 2019

LONDON (ShareCast) - (Sharecast News) - African gold producer Hummingbird Resources updated the market on its operations on Wednesday, reporting that 91,620 ounces of gold was poured in 2018, which was at the top end of its revised guidance of between 87,000 oz and 92,000 oz.
The AIM-traded firm said 17,895 oz of gold was poured in the fourth quarter, at an all-in sustaining cost of $1,677 per ounce.

It said it had made a "good start" to operations in 2019, with production in January on track to produce around 10,000 oz.

The remediation of the pit wall at Komana East was also progressing "well", according to the boar, with completion due in the coming weeks.

Construction of the second ball mill at Yanfolila remained on budget, and was on schedule for completion in the third quarter.

Hummingbird also pointed to its improving safety record at site, with the total recordable injury frequency rate dropping from 11.63 in the first quarter to 3.64 in the fourth quarter.

Guidance for 2019 was for between 110,000 oz and 125,000 oz production, at an all-in sustaining cost of between $800 and $850 per ounce.

On the corporate font, Hummingbird reported cash of $21m at period-end, including $9.5m drawn under its new loan for the second ball mill.

Debts stood at $61m, widening from $58m at end of the third quarter.

"The group has been through an operationally challenging quarter, but I am pleased to report that we have made significant headway on the ground in resolving the issues we faced," said chief executive officer Dan Betts.

"January's production figures are in line with 2019's production guidance and mine plan and we are making positive progress with the construction of a second ball mill, which is due for completion in the third quarter of 2019."

That would increase throughput and, along with its exploration campaign, the long-term value of Yanfolila, Betts explained.

"Over the course of the first quarter we look forward to receiving the remaining drilling results from the 2018 exploration campaign and working with the team to understand how to release the expected potential of these results in our life-of-mine planning."

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HUM Market Data

Currency UK Pounds
Share Price 24.90p
Change Today -1.10p
% Change -4.23 %
52 Week High 28.50
52 Week Low 13.00
Volume 868,588
Shares Issued 353.69m
Market Cap £88.07m
Beta 0.08

HUM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.74% above the market average79.74% above the market average79.74% above the market average79.74% above the market average79.74% above the market average
71.19% above the sector average71.19% above the sector average71.19% above the sector average71.19% above the sector average71.19% above the sector average
Price Trend
17.64% above the market average17.64% above the market average17.64% above the market average17.64% above the market average17.64% above the market average
44.00% above the sector average44.00% above the sector average44.00% above the sector average44.00% above the sector average44.00% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HUM Dividends

No dividends found

Trades for 22-Oct-2019

Time Volume / Share Price
16:35 5,001 @ 24.90p
16:29 3,952 @ 25.00p
16:15 4,283 @ 24.78p
15:53 4,000 @ 25.00p
15:13 278 @ 24.75p

HUM Key Personnel

Finance Director Thomas Hill

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