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Pin to quick picksHummingbird Share News (HUM)

Share Price Information for Hummingbird (HUM)

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Share Price: 8.85
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TRADING UPDATES: Orosur finds gold; Hummingbird hit by low gold price

Fri, 21st Oct 2022 14:46

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Lowers annual production guidance as gold output falls, and revises all-in sustaining cost guidance upwards. Gold production in third quarter to September 30 falls 16% to 16,827 ounces from 20,013 a quarter ago. Sells 16,917 ounces of gold, down 17% from 20,490 ounces in the second quarter. Average quarter-on-quarter realised gold price declines 7.5% to USD1,713 per ounce from USD1,851. All-in sustaining cost worsens by 16% to USD2,161 per ounce from USD1,859 in the second quarter. Hummingbird lowered its annual gold production guidance to between 77,000 and 87,000 ounces from previously between 87,000 to 97,000 ounces.

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Orosur Mining Inc - mineral exploration and development company focused on South America - Shares "encouraging" drill results from Pepas and Pupino in Colombia. Holes PEP005 and PEP007 returned "substantial gold intersections", including 41.75 metres at 5.24 grammes of gold per tonne and 4.25 metres at 5.11 grammes of silver per tonne. "PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted. It is encouraging therefore that further holes have confirmed this first result and we eagerly await results from better positioned holes," Chief Executive Brad George says.

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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Produces less saleable recovered gold in third quarter ended September 30. Ming Mine in Canada averages ore production of 998 dry metric tonnes, down from 1,073 tonnes a year prior. Nugget Pond produces 1,177 tonnes per operating day at feed grade of 1.75% copper, up from 1,163 tonnes at 1.69% copper. Recovery of copper metal concentrates slips to 95.8% from 96.5%. Production of recovered saleable copper grows to 1,654 tonnes from 1,569 tonnes, but for gold this drops to 513 ounces from 645. Notes outstanding gold values as the firm is awaiting assay results. "We are still strongly of the view that Rambler's current valuation represents an exciting opportunity and will update the market on the outcome of our financing discussions in due course," says CEO Toby Bradbury.

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Record PLC - Windsor, England-based currency and derivatives manager - Assets under management equivalents in the third quarter rise by 3.7% to USD80.8 billion at September 30 from USD77.9 billion at June 30. Records net inflows of USD6.6 billion and performance fees of GBP500,000. Total AuME movement is positive USD2.9 billion in the third quarter, swung from negative USD5.2 billion in the second quarter. "Sustained uncertainty in financial markets continues to have only a limited impact on the value of some clients' underlying portfolios in our traditional business for currency products and services. Conversely, heightened volatility and inflationary pressure underscores the relevance of our products and offers new opportunities for growth and diversification," CEO Leslie Hill says.

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By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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21 Oct 2022 10:47

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IN BRIEF: Hummingbird Resources notes Dugbe feasibility study

Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Notes that Pasofino Gold Ltd has filed its feasibility study on the Dugbe gold project in Liberia.

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IN BRIEF: Hummingbird Resources Chair Russell King to retire

Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Says Non-Executive Chair Russell King to retire with effect from Wednesday, having been in the role since 2014. As the firm searches for his replacement, says Chief Executive Daniel Betts will add on role of interim executive chair.

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13 Jun 2022 21:22

IN BRIEF: Hummingbird Resources notes Dugbe project feasibility study

Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Notes Pasofino Gold Ltd publishing the feasibility study for the Dugbe gold project in Liberia, which gives a pretax net present value of USD690 million and a 26% internal rate of return.

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27 May 2022 14:29

Hummingbird Resources sees lower gold production and drop in revenue

(Alliance News) - Hummingbird Resources PLC on Friday said its company reserves increased to over 1 million ounces, while its revenue and gold production both dropped significantly in 2021.

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IN BRIEF: Hummingbird Resources shares fall on lower gold production

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.

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