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Hummingbird Resources Ord Shs HUMRF

Hummingbird Resources PLC is a United Kingdom-based gold production, development, and exploration company. The Company is engaged in the exploration, evaluation, development, and operation of mineral projects. The Company has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea. In addition, the Company controls the Dugbe Gold Project in Liberia. The Yanfolila Gold Mine is located in southern Mali, is a high-grade open pit mining operation. Its Kouroussa Gold Project is situated in the Siguiri Basin, Guinea, which has a high-grade resource base of approximately 1.2 million ounces (Moz) of gold at over 3.02 grammes per ton (g/t) coupled with material exploration. The Dugbe Gold Mine is situated within the Dugbe Shear Zone and crosses the Company’s Dugbe and Joe Village Licences. The Dugbe permit area is approximately 2,565 square kilometers. The Dugbe Shear Zone is located in southeastern Liberia.


OTCPK:HUMRF - Post by User

Post by mercedesmanon Jun 02, 2020 11:20am
170 Views
Post# 31101609

Q1 - Results - Net cash positive second half

Q1 - Results - Net cash positive second halfhttps://polaris.brighterir.com/public/hummingbird/news/rns/story/w05g6lr

Corporate Highlights at 31 March 2020

 

·    Liquid assets (cash and gold) of $25m ($14m at end Q4 2019)

Cash of US$8m (US$9m at end of Q4 2019)

11,000 ozs of gold inventory on hand (2,900 oz at end Q4 2019) worth approx. US$17m at 31 March 2020 gold price

·    Bank debt of US$34m, repaying US$6m + interest in the current quarter (US$40m at end of Q4 2019)
 

...

Outlook

·    2020 production guidance of 110,000 - 125,000 ozs maintained

·    On track for targeted net cash position in H2 2020, with zero debt by end of H1 2021

·    Exploration programme targeting improved mine plan 

 

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