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(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
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