OTCPK:HUMRF - Post by User
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Monkeydonkeyon Jan 22, 2018 4:19pm
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Quarterly review (75% of capacity)
Quarterly review (75% of capacity) Quarterly Review
Hummingbird Resources (AIM: HUM) is pleased to announce a review of activities during Q4 2017, which saw production commence at its Yanfolila Gold Mine in Mali ("Yanfolila"), a high- grade, open multi-pit operation with significant expansion opportunities.
Q4 Operational Overview
o Targeting ~130,000oz gold in first full year of operation
o 107,000oz Au p/a over life of mine at ~3g/t average grade
o 1 million ounces gold outside current mine plan – drilling of existing resources
targeted throughout 2018 to deliver greater reserve life
Q4 Corporate Overview
-
Cash position ~US$40 million at YE 2017
-
Cora Gold Limited (in which HUM holds a 33.85% interest) raised £3.45 million and listed
on AIM, focussing on gold exploration in Mali and Senegal, offering potential for proximal
satellite deposits to provide further feedstock for Yanfolila plant
-
Soft-launched “1oz Hummingbird” Single Mine Origin pure gold coins from Yanfolila
o 1,400 people registered interest within one month of soft-launch https://hummingbirdresources.co.uk/coins
o Coin sales to commence in Q1 2018, with first delivery of coins targeted by end of H1 2018
Post-Period Highlights
o Plant throughput at 65% capacity during last two weeks of December
o Plant throughput reached 75% capacity in January 2018
-
Cora Gold announced visible gold in drill core, full assay results to follow shortly from
their maiden drilling campaign at Sanankoro
-
Malian President, Ibrahim Boubacar Keta, to officially open Yanfolila Gold Mine on 14
February 2018
To view pictures of gold poured by Hummingbird at Yanfolila, please view the gallery on the Company’s website: https://hummingbirdresources.co.uk/gallery.