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Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Says gold production in its first quarter ended March 31 fell 14% to 15,548 ounces from 18,181 ounces in the final quarter of 2021. Says this was as expected due to essential maintenance work on the processing plant. Says all-in sustaining cost rise 24% to USD2,235 per ounce from USD1,803 per ounce, primarily due to the lower quarterly production. Sells 15,179 ounces of gold sold in the first quarter at an average realised price of USD1,837, reflecting an 18% decrease from 18,489 ounces sold in the last quarter and a 3% reduction from the average realised price of USD1,782. Maintains its 2022 guidance of 87,000 to 97,000 ounces of gold, with all-in sustaining costs of USD1,300 to USD1,450 per ounce of gold.
Current stock price: 14.14 pence, down 19% on Monday
12-month change: down 32%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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