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Hummingbird Resources Ord Shs HUMRF

Hummingbird Resources PLC is a multi-asset, multi-jurisdiction gold production, development and exploration company. The Company has two core gold projects: its flagship asset, the Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea. It also controls the Dugbe Gold Project in Liberia. The Yanfolila Gold Mine is located in southern Mali, and is a high-grade open pit mining operation with significant underground potential. The Kouroussa Mine is situated in the prolific Siguiri Basin in Guinea and has a high-grade resources base of 1.2 million ounces (Moz) at 3.02 grams per ton (g/t) and Reserves of 647 koz at 4.15 g/t. The Dugbe Gold Mine is situated within the Dugbe Shear Zone and crosses its Dugbe and Joe Village Licences. The Dugbe Shear Zone is located in south-eastern Liberia, located 40 miles by road from the deep-water port of Greenville, the capital city of County Sinoe. The Dugbe Gold Mine is made up of three mineral-rich discoveries (Dugbe F, Tuzon and Sackor).


OTCPK:HUMRF - Post by User

Post by Monkeydonkeyon Jan 22, 2018 4:19pm
75 Views
Post# 27410833

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

  •  Commenced gold production on budget and on schedule

  •  Commissioned the 1.24Mtpa carbon-in-leach circuit (‘CIL’) processing plant at Yanfolila

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

  •  Shipping of gold dore bars to the refinery has commenced

  •  Ramp up to commercial production remains on plan

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


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