Update - slowly getting there..26 Oct 2023 07:06
Dan Betts, CEO of Hummingbird, commented:
"Being the wet season, Q3 is traditionally the most challenging period to operate in as we have learned over the years. However, during the quarter Yanfolila performed in line with our expectations and with over 69 Koz of gold produced through to the end of September, we are well positioned to comfortably meet our FY-2023 Production and AISC guidance.
At Kouroussa, we have focussed on ramping up the operation across all disciplines and are proud to have achieved over 1 million LTI free hours since commissioning the plant in Q2-2023. We expected challenges during the six-month ramp up period; however, our plant has exceeded expectations, regularly meeting nameplate capacity in Q3-2023. During the quarter we encountered hurdles in increasing mining volumes and ramping up the recruitment and training of local and national Guineans. W e're actively addressing these challenges, targeting increased operational performance in Q4-2023, setting the mine up for full commercial production from FY-2024 and are committed to building and operating a mine the people of Guinea can be proud of.
Further, the refinancing and funding package agreed with our long-term finance partners Coris Bank provides increased financial flexibility for Hummingbird, with material deleveraging projected to begin in FY-2024. Importantly, we remain on track to deliver c.200,000oz per year, establishing ourselves as a mid-tier, multi-asset, multi-jurisdiction gold producer. "