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Might be held back due to increasing tensions between Armenia and Azerbaijan and fear of escalation
No doubting the muli bag potential here with Anglo Asian Mining over the next few years from this 50p/60p level.
Has been noted a couple of times few weeks ago that we are producing at name plate capacity or above and at that time only a few meters away from the high grade ore body.
Getting into the ore body and the grades we have this change extremely quickly and thats what will be factored in.
We will get a quarter exit figure and importantly current production will be key for our 2nd producing gold mine.
It is going to be a transformational year for Hummingbird.
Gold price to hit $2,535 by the summer as its breakout is âunambiguousâ - Midas Touchâs Florian Grummes
https://www.kitco.com/news/article/2024-03-14/gold-price-hit-2535-summer-its-breakout-unambiguous-midas-touchs-florian
Having another company lead on the Dugbe Gold Project allows Hummingbird to focus on its two producing gold mines whilst maintaining substantial upside via its shareholding. This is a enormous resource and with the gold price moving to a new level, there is a good chance as things develop there this year that a major will be sniffing round and possibly with an early MoU agreement to secure interest.
As I note the beauty here is we have pasofino gold leading on this while we focus on both Yanfolila Gold Mine, and the Kouroussa Gold Mine, where the FY-2024 guidance is 165,000/200,000oz and group AISC below $1,500.
We are going to see major share price re-rates on a number of gold producers over the next 12 months.
Been noted a couple of times in recent weeks/interviews that we are producing at name plate capacity or above and approaching the high grade ore body.
Getting into the ore body and the grades we have this change extremely quickly and thats what will be factored in.
This is going to be a transformational year for Hummingbird
Reuters covering the end of the 3 day strike
https://www.reuters.com/world/africa/guinea-trade-unions-suspend-nationwide-strike-2024-02-28/
Guinean Trade Union Movement, an umbrella group for multiple workers' unions, said in the statement that it was suspending the strike following the freeing of a detained union leader, Sekou Jamal Pendessa on Wednesday, one of their key demands.
Well done to those who picked up shares yesterday and today, as the CEO stated they have not been affected at all, not in the slightest by the 3 day strike (now called off) in Conakry which is a long long way from Kouroussa.
Excellent interview with Dan Betts published today.
On day 3 the strike in the capital city of Guinea is called off on the release of Sekou Jamal Pendessa today which was the main demand by the unions.
New PM appointed yesterday and stated a need for dialogue and working together on a range of issues such as lower food prices, an end to media censorship and improved living conditions for civil servants.
Amadou Oury Bah, an economist and former minister who participated in all the meetings proposed by the junta in power in Guinea since 2021 and boycotted by the opposition, was named Prime Minister.
The head of the junta in Guinea appointed a Prime Minister on Tuesday February 27 on the second day of an indefinite general strike, and eight days after unexpectedly dissolving the previous government.
The new head of government will have the first mission of resolving the crisis with the unions at the origin of a large protest movement which has paralyzed the country for two days.
âMr. Amadou Oury Bah, economist, is appointed Prime Minister, head of government,â Minister Secretary General of the Presidency, General Amara Camara, declared on national television.
He has always advocated dialogue and participated in all the meetings proposed by the junta in power since 2021 and boycotted by the opposition.
https://www.tellerreport.com/news/2024-02-27-general-strike-in-guinea--amadou-oury-bah-appointed-prime-minister-to-resolve-the-crisis.B1_uBkh3a.html
I wrote to Hummingbird IR and had a reply back in 20 minutes this afternoon.
Good afternoon xxxxx,
Thank you for your email,
Our operations at Kouroussa have been unaffected by the current strike action in Conakry and remain fully operational. The Company continues to assess the situation and any mitigation measures required.
We recently provided a short social media post providing an update of progress on the ramp-up of mining operations at Kouroussa. You can find it here - https://x.com/HUM_gold/status/1762464696735522852?s=20
Kind Regards
The Company has completed several initiatives to improve ramp-up performance, including grade control drilling and dewatering of the operation, and has conducted additional training at the Kouroussa Mine. The Company remains focused on reaching full commercial production in Q1-2024.