Block Listing and Exercise of Options

RNS Number : 4695Z

Hummingbird Resources PLC

16 March 2012

 

16 March 2012

Hummingbird Resources plc

(the "Company")

Exercise of 45,000 Options

Block Admission of Existing Options

The Company has issued 45,000 new ordinary shares following exercise of options previously granted under the Company's Employee Share Option Plan. Application has been made for the shares to be admitted to trading on the AIM market of the London Stock Exchange, which is expected to take effect on or around 21 March 2012.

The Company has also today applied for admission of up to 4,385,000 ordinary shares in the Company (ISIN: GB00B60BWY28, TIDM: HUM), in advance of any future grant of Ordinary shares that may be issued pursuant to the exercise of employee share options or options convertible into ordinary shares, in accordance with the block listing process under Rule 29 of the AIM Rules.

The Company will announce the number of any Ordinary shares actually granted and admitted under the block listing, each 6 months, in accordance with Rule 29.

Enquiries:

Hummingbird Resources plc Daniel Betts, Chief Executive Officer Thomas Hill, Chief Financial Officer and Company Secretary Robert Monro, Head of Business Development	[phone]
Liberum Capital Limited Nominated Adviser and Broker Tom Fyson / Richard Bootle	[phone]
Mirabaud Securities LLP Joint Broker Peter Krens	[phone]

Notes to Editors

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia.  The Group's total Resource is 3,817,000 ounces of gold (Indicated Resource of 1,373,000 ounces gold and Inferred Resource of 2,444,000 ounces gold).

The Group has a gold Resource on its Dugbe F deposit of 43.01 million tonnes at 1.276 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.28 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au).  The Group now has in addition to this a maiden Resource on its Tuzon project of 52.8 million tonnes at 1.21 g/t Au to give 2,052,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au (Inferred Resource of 2,052,000 ounces gold at 1.21 g/t). Tuzon lies 2.6km to the east of the Dugbe F deposit.  The exploration has been based on sound geological premises and has been executed in an efficient and practical manner according to best industry practices.

The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

For more information, please visit www.hummingbirdresources.co.uk

 

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