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I think Armani might need some lube âŚ. So sad he canât stay the course
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
6 February 2023
Hummingbird Resources plc
("Hummingbird" or the "Company")
Q4 2022 and 2023 Outlook
Closing out the 2022 year with strong production of +28koz, meeting revised full year guidance and on track at Kouroussa, Guinea for first gold pour at the end of Q2 2023
Hummingbird Resources plc (AIM: HUM) provides an operational update for the fourth quarter of 2022 ("Q4 2022") and its outlook for FY2023.
Operational update
Yanfolila, Mali
§ Production: Strong Q4 2022 gold production of 28,264 ounces ("oz"), +67% from Q3 2022
o Full year 2022 production of 80,635 oz, meeting revised guidance
§ All-in Sustaining Cost ("AISC"): Materially improved quarterly AISC of US$1,248 per oz for Q4 2022 (Q3 2022 US$2,161 per oz)
o Full year 2022 AISC of US$1,782 pe--r oz, meeting revised guidance
§ Gold sold: 27,860 oz of gold sold in Q4 2022 at an average realised price of US$1,726 per oz (Q3 2022: 16,917 oz of gold sold at an average realised price of US$1,713 per oz). The Company held 2,057 oz of gold inventory on 31 December 2022, valued at c.US$3.7 million
Kouroussa, Guinea
§ Kouroussa remains on track for first gold pour at the end of Q2 2023
§ Critical path construction and operational readiness items are nearing completion
§ 2 million lost time injury ("LTI") free hours achieved, a key safety achievement for the Kouroussa construction team, with this positive safety trend continuing
Dugbe, Liberia
§ As reported in the Q3 2022 operational update, the Company is currently conducting a strategic review of its options to best realise the maximum value of the Dugbe project for all stakeholders. This process is ongoing with our joint venture partner, Pasofino Gold Limited ("Pasofino")
Corporate
§ Improved Group EBITDA of c.US$11 million for Q4 2022
§ ESG: The Company achieved full World Gold Council ("WGC") Responsible Gold Mining Principles ("RGMP") compliance during the quarter as detailed in 15 November 2022 RNS
2023 Outlook
§ The Company provides a 2023 guidance update for Yanfolila, Mali and, once Kouroussa, Guinea is in production and ramping up, the Company will provide a more detailed Group wide guidance update for the full year
o Expectations are that once Kouroussa is fully operational, the mine will add a material uplift to the Group's production profile for FY2023 and beyond
§ FY2023 production guidance for Yanfolila, Mali of 80,000 - 90,000 oz, with full year AISC of under US$1,500 per oz
NICE AISC..... keep it coming....
Drilling Delivers a Significant Lithium Resource Upgrade at the Uis Mine
Andrada Mining Limited, formerly Afritin Mining Limited, (AIM: ATM) an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to announce an updated lithium, tin, rubidium, and tantalum Mineral Resource Estimate (MRE), at its flagship Uis Mine ("Uis"). This updated MRE, is in accordance with JORC (2012) and is a result of the substantial 7,000 metre drilling programme undertaken in 2022 to expand and increase the main V1/V2 pegmatite deposit currently being mined at Uis.
Highlights:
§ Updated MRE for the V1/V2 deposit with lithium and tantalum upgraded to a Measured and Indicated classification as a result of infill drilling.
§ Lithium average grade has increased to 0.73% Li20 from 0.63% Li2O declared in 2019, total contained Li2O tonnes have increased by 30% to 587 000 tonnes.
§ Updated resource gives a Lithium Carbonate Equivalent of 1.45 million tonnes.
§ The Measured and Indicated lithium resources increased by 47% to 38Mt.
§ Tin average grade has increased to 0.15% Sn from a previous average of 0.134% Sn, resulting in contained tin metal content of 120 000 tonnes.
§ Maiden resource declared for rubidium with a contained total of 109 400 tonnes at an average grade of 0.14% Rb.
§ Total MRE for the V1/V2 deposit inclusive of mining depletion has increased to 81 Mt from 72 Mt.
Anthony Viljoen (CEO) commented:
"I am very pleased to announce a new enlarged lithium resource at our Uis Mine in Namibia following significant drilling programme in 2022. This confirms our belief that Uis is a globally significant lithium and tin resource that remains open at depth and is one of over 180 mineralised pegmatites within 5km of the Uis processing facility. The drilling programme has exceeded our expectations, delivering higher grades, and has increased the overall tonnage by 13% when compared to the previous resource estimate from 2019 and 30% more contained lithium. The updated Mineral Resource Estimate is solely from V1/V2 pegmatite, which clearly highlights the significant untapped potential of the wider Uis pegmatite swarm across our licence area.
"This MRE has been delivered ahead of our lithium pilot plant commissioning which is due to come online in Q2 2023 and is an important step to realise the additional lithium and tantalum revenue streams alongside our tin production. This new resource will increase the economics for Andrada and will form the basis for the next phase of expansion and growth for the Uis mine.
"The next phase of exploration will investigate the other proximal pegmatites at Uis with the end goal of repeating this process and ultimately expand the resource at Uis to achieve the exploration target of 200 Mt."
Gold is way too cheapâŚ. This needs to be addressed ;-)
Indeed!
Last January it was 31stâŚ. So Tuesday ?
Tin price sure is kickin butt. Amen to that.
Note the car production numbers here. The slump and the trade war battle US/EU to scramble for investment for the new electric revolution. They wonât just need battery plant next to their car plants. They will need LiOH/LI2CO3 production facilities. Canât be relying on the Chinese for everything can we?
Andrada currently looks like one of the best investments I can recall seeing .
Real sexy
(âECR Mineralsâ, âECRâ or the âCompanyâ)
Soil Geochemistry Results from Creswick License EL006184
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated results from soil sampling and other on-going exploration activities within licence EL006184 at Creswick, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.
ECR CEO Andrew Haythorpe commented: âThe ECR board is now of the opinion that the geochem results from the Davey Road prospect provides ample evidence that Creswick is host to an extended gold system, and that our decision to plan a drilling campaign and complete permit applications is fully justified. This view is further supported by the samples and anecdotal evidence of drill specks in road gutters from the Blue Gum South prospect in our âon the groundâ follow up to the 2021 diamond drill campaign.
As we start to ramp up our activities ahead of the 2023 drilling campaign, I very much look forward to reporting back to you with our full Creswick drill plan, and on our activities across our other assets.â
HIGHLIGHTS
Final results from soil sampling at the newly identified Creswick Davey Road âCDYâ prospect have just been received.
Results up to 1.59 ppm Au obtained at the Blue Gum South âBGSâ prospect.
Figures related to this announcement can be viewed here;
Figure 1: Location map
https://www.ecrminerals.com/images/2023/fig1_Overview_Map_230120.png
Figure 2: Update gold anomaly map for Davey Road Prospect (CDY)
https://www.ecrminerals.com/images/2023/fig2_Davey_Rd_update_230120.png
Figure 3: Gold anomalies identified at Blue Gum South (BGS)
https://www.ecrminerals.com/images/2023/fig3_BGS_230120.png
UPDATED SOIL RESULTS AT DAVEY ROAD
Further results have been received from soil sampling at the recently announced Davey Road Prospect âCDYâ (see RNS from December 22 2022 here). Plotting of all the results strongly suggests that gold mineralisation originates from the North end of a line of historical gold workings, with another strong gold anomaly also present at the southern end of the historic workings. The Board believes these two anomalies represent the outcrop of two possible gold shoots.
GOLD ANOMALISM AT BLUE GUM SOUTH PROSPECT
Soil sampling has also been completed over a small grid area 200 metres to the north of some of the best drill intercepts from 2021âs diamond drilling (see Figure 3 above), where hole CSD003 returned 0.95m @ 9.93 g/t Au from 84.2m and 0.95m @ 23.58 g/t Au from 89.05m down hole. This grid lies within the Dimocks Main Shale trend., and the Company has named this
Drill assays reinforce quality of Molaoi zinc deposit
Rockfire Resources plc (LON: ROCK), the base metal, gold and critical mineral exploration company, is pleased to announce that results from the Company's geotechnical drilling programme at the Molaoi zinc deposit in Greece include multiple, high-grade intersections, which demonstrates the quality of the Molaoi deposit.
Confirmation of multiple lodes provides opportunity to significantly increase tonnage and potentially have a considerable positive impact on the future economics of the project.
Highlights
¡ Assay results from Rockfire's first geotechnical drill hole at Molaoi (MO_GTK_001) are now at hand and provided below.
¡ MO_GTK_001 was drilled halfway between historical drill holes to provide sufficient sample for geotechnical test work. Historical drilling encountered several possible parallel lodes and MO_GTK_001 confirms that Molaoi comprises multiple lodes, and perhaps as many as four stacked, high-grade lodes.
¡ MAIN LODE
13.4% ZnEq. over 7.18m width, from 130.62m (11.3% Zn, 1.4% Pb and 50g/t Ag).
¡ SECOND LODE
15.6% ZnEq. over 0.17m width, from 142.60m (14.3% Zn, 0.5% Pb and 41.80g/t Ag)
¡ THIRD LODE
10.7% ZnEq. over 1.73m width, from 144.90m (8.3% Zn, 1.3% Pb and 62g/t Ag)
¡ FOURTH LODE
19.5% ZnEq. over 2.24 m width, from 161.10m (16.6% Zn, 3.1% Pb and 36g/t Ag)
¡ Overall, the main, second and third lodes, comprise a broad mineralised zone with an intersection of 7.5% ZnEq. over 16m width, from 130.62m (6.2% Zn, 0.8% Pb and 31 g/t Ag).
¡ The highest individual samples are:
20.5% Zn and 93.4g/t Ag over 1.25m (from 132.15m depth) and 4.1% Pb over 1.0m (from 161.10m)
¡ Germanium values are low, suggesting that germanium may be concentrated in a particular part of the resource, or controlled by structures or preferential lithology. More drilling is required to determine the precise association between zinc and germanium.
¡ Core samples from the mineralised lodes will contribute towards a compilation sample to commence crushing and grinding work index studies.
¡ The geotechnical drilling programme continues, with the third drill hole currently being drilled. Core from the second drill hole is being cut and will be sent to the laboratory when core sampling is complete.
David Price, Chief Executive Officer of Rockfire, commented:
" Results from our first geotechnical drill hole at Molaoi are outstanding.
"MO_GTK_001 illustrates several very important points at Molaoi.
§ The deposit continues to demonstrate very high grades
§ Zinc occurs over widths suitable for underground, mechanised mining
§ Mineralisation is continuous between historical drill sections
§ Multiple lodes have been confirmed
§ Downhole surveys show no material hole deviation from th
Perhaps the best RNS of recent times... shows they have focus on Greece......
And that shows they are very happy with what they see at Molaoi.
My trade from this morning is missing as has been a previous 1000000 purchase so the list shown here is often incomplete. Hmmm
Trade colour on here is no guide... both latest buys shown red... today 08.06 80000 is a buy.... I know this for the obvious reason....GLALTH
HNY LTH's
We have $1850 and we have multiple positive newsflows and we have a garbage SP....
Which way can this go? Downside vs upside??
I reckon you can probably work that one out friends. Amen.
POG rising nicely and SRB now looking very poorly priced considering it's cash positive with a new resource steadily approaching in the pipeline and Matilda being offered to JV partner majors who have visited the site.
The refreshingly honest CRUX video (see below) was my favourite of the year along with the ATM Crux vid (wow and apologies for cross ref) and he hadn't even had a shave!!
Have added in the 20's so now to it back and watch the fun... GLALTH
Ditto above guys... POG nearly $1850 as I type and I have the feeling it will be above $1900 in the next few days....
For all of 2022 we have had Kouroussa 'on time and on budget' so we are getting mighty close to a 'game changer' with new production AISC at what could be only half of the POG by the summer.
And then there's Dugbe.... should make for an interesting share price chart! GLALTH
Armani... you need help... mentally speaking.
Marking all the buy trades as red.... who the f do they think we are lol.... i know, i know.... but still....
Couple of big trades today...
Well British Bulls has finally given SRB they buy signal⌠lol
Time for a bullish ride :-)
Bigger buys thereâŚ
improving... just need a decent Q4 number now and we can look forward to the second mine....
Armani.... I have made a big effort not to post here but you could easily just post your views a couple of times and we would know where you are. this could be applied on the positive side to....
That said, you do make me laugh so 'every cloud...' GLA Let them hit some at Blue Moon and sort out Creswick ffs