Ore Commissioning Commenced at Yanfolila

RNS Number : 4243Z
Hummingbird Resources PLC
15 December 2017
 

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

 

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

 

Ore Commissioning Commenced at Yanfolila

 

Hummingbird Resources (AIM: HUM) is pleased to announce that ore commissioning has commenced at the Yanfolila Gold Mine in Mali ("Yanfolila" or "the Project").

 

Highlights:

·    Introduction of ore to the mill and the carbon in leach ("CIL") process plant from the run-of-mine ("ROM") pad stockpile has commenced

·    First gold production expected before the end of December

·    Commercial ramp up during Q1 2018 with a target of delivering c.130,000 ounces of gold during the first full year of production

 

Dan Betts, CEO of Hummingbird, commented: 

 

"Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a smooth ramp up of the plant as we look to move into the production phase.  This is a key transitional moment for Hummingbird, transforming the Company from a developer to a producer.  Our first year's production is expected to be around 130,000oz of gold, which is projected to generate around US$70m of free cash flow at a US$1,250 gold price.  I look forward to reporting news of our first gold pour in the very near future."

 

Please click on the following link to see recent pictures and videos from Yanfolila: http://hummingbirdresources.co.uk/gallery/.

 

**ENDS**

 

For further information, please visit www.hummingbirdresources.co.uk or contact: 

Daniel Betts

Thomas Hill

Robert Monro

Hummingbird Resources plc

Tel: +44 (0)20 3416 3560




James Spinney

Ritchie Balmer

James Bellman

Strand Hanson Limited

Nominated & Financial Adviser

Tel: +44 (0) 20 7409 3494

 




Jon Belliss

Beaufort Securities Limited

Broker

Tel: +44 (0) 20 7382 8300




Lottie Wadham

Susie Geliher

St Brides Partners Ltd

Financial PR/IR

Tel: +44 (0) 20 7236 1177

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 

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.  It is currently building Yanfolila targeting first production by end of 2017, 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 132,000oz of first full year's production. 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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