Extension of Deadline for Overallotment Option

RNS Number : 0705B

Hummingbird Resources PLC

14 June 2016

 

NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

14 June 2016

Hummingbird Resources plc ("Hummingbird Resources" or the "Company")

Extension of Deadline for Overallotment Option

Hummingbird Resources plc (AIM: HUM), the West African gold company, announces that further to its Placing and Subscription to raise approximately £45.8 million to fund construction at its Yanfolila Gold Project in Mali as announced on 2 June 2016, the Company reports that in response to investor enquiries, it has agreed with RFC Ambrian Ltd to extend the deadline for applications under the Overallotment Option of up to 31,260,000 shares at 22p from 13 June 2016 to 17 June 2016.  

Following this extension, results of the Overallotment Option will be announced by the Company on 20 June 2016.  All other terms of the Overallotment Option, including dates, remain as set out in the announcement of 2 June 2016 with admission of new shares allotted under the Placing and Subscription (as defined therein) and the Overallotment Option, if exercised, expected to occur on 21 June 2016, following the General Meeting of shareholders to approve the transactions on 20 June 2016.

**ENDS**

For further information please visit the Hummingbird website www.hummingbirdresources.co.uk or contact:

Daniel Betts Thomas Hill Robert Monro	Hummingbird Resources plc	Tel: [phone]
Charlie Cryer Stefan Murphy Jonathan Stephens Oliver Morse	RFC Ambrian Ltd Nominated Adviser, Bookrunner and Joint Broker	Tel: [phone]
Jon Belliss	Beaufort Securities Limited Joint Broker	Tel: [phone]
Lottie Brocklehurst Susie Geliher Hugo de Salis	St Brides Partners Ltd Financial PR/IR	Tel: [phone]

About Hummingbird Resources Plc

Notes to Editors

Hummingbird Resources (AIM: HUM) is building a leading gold production, development and exploration company.  The Company has two core gold projects, the near-term production Yanfolila Gold Project in Mali and the Dugbe Gold Project in Liberia.  Its current focus is on bringing Yanfolila, which has a Probable Reserve of 709,800oz @ 3.14g/t and total Resources of 1.8Moz of gold and an additional 390,700oz of non-compliant exploration potential.  The high grade gold project has the potential to turn a profit in a varying gold price environment and will allow for quick returns with low operating costs. 

The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird with excellent development upside.  An optimisation of the DFS is on-going whilst Yanfolila is brought to production in the near-term.  Additionally, the Company has 4,000km² highly prospective exploration ground in Mali and Liberia and is constantly evaluating new quality assets.

 

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