RE: US$30 million Placing @ 11.26p7 Dec 2023 07:19
Looks good for qrt1 2024 and beyond
Dan Betts, CEO of Hummingbird, commented:
"Today's announcement of an equity placement, corner-stoned by CIG demonstrates the ongoing support for Hummingbird to implement our growth strategy. The Placement strengthens our balance sheet, increases our exploration activities, and advances the Dugbe Gold Project, through the soon to be controlling interest we have now established in Pasofino. The revenue protection strategy also locks a portion of our FY-2024 gold production as we move to materially deleverage and strengthen our balance sheet.
With the ramp-up of Kouroussa progressing, we are set to reach full commercial production in early FY-2024, and remain on track to be a c.200,000 oz per year gold producer next year."