Director/PDMR Shareholding

RNS Number : 4068D

Hummingbird Resources PLC

29 April 2013

 



Hummingbird Resources plc

("Hummingbird Resources" or "the Company") (AIM: HUM)

Holdings in Company

Hummingbird Resources was notified on 26 April 2013 that Stephen Betts and Sons Limited purchased 134,400 ordinary shares in the Company at 37p on 26 April 2013.

Following this Purchase, Stephen Betts and Sons Limited holds a total of 292,000 ordinary shares, representing approximately 0.51% of the issued ordinary share capital of the Company.

Stephen Betts, a director of the Company, is now interested directly or indirectly in a total of 673,500 ordinary shares, representing approximately 1.19% of the issued ordinary share capital of the Company.  Additionally Daniel Betts, a director of the Company, is now interested directly or indirectly in a total of 4,611,048 ordinary shares, representing approximately 8.13% of the issued ordinary share capital of the Company.

ENDS

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Finance Director

Robert Monro, Head of Business Development [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Christopher Kololian [phone]

FTI Consulting LLP

Financial PR

Ben Brewerton / Oliver Winters / Victoria Huxster [phone]

Notes to Editors

About Hummingbird Resources plc

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 Inferred Resource is 3,835,000 ounces of gold.  The Group has published a PEA on its project showing on a 3.5Mtpa tank leach operations and NPV of US$337m on a Capex of US$212m for an IRR of 43.4%.  This gives a payback period of 3 years and is based on a 10% discount rate and US$1,500 gold price (three year average gold price at time of release).

The Group has published a NI43-101 compliant Inferred Resource on its Dugbe F deposit of 43.01 million tonnes at 1.28 g/t Au to give 1,764,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade.  In addition, the Group has declared an Inferred Resource on its Tuzon project of 51.1 million tonnes at 1.26 g/t Au to give 2,071,000 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.  Tuzon lies 2.6km to the east of the Dugbe F deposit.  Exploration is being carried out to best industry practices.

In 2013 the Group is moving the Dugbe 1 Project towards feasibility and is currently infill drilling its existing Resources as well as continued regional exploration work.

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

 

END

 

 

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