Result of AGM

RNS Number : 4061T

Hummingbird Resources PLC

19 November 2013

 



19 November 2013

Hummingbird Resources plc

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

Result of AGM

Hummingbird announces that at the Company's Annual General Meeting held earlier today, all resolutions proposed were duly passed.

-ENDS-

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer
Thomas Hill, Finance Director
Robert Monro, Head of Business Development	[phone]
Cantor Fitzgerald Europe
Nominated Adviser and Broker
Stewart Dickson / Tom Sheldon / Jeremy Stephenson	[phone]
FTI Consulting LLP
Financial PR
Ben Brewerton / Oliver Winters	[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 an 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 with 15,802m of infill drilling completed this year. Additionally, the Group's licence areas constitute a significant proportion of eastern Liberia's Birimian sequence.

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

 

END

 

 

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