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17 Sep 2013 10:43
Hummingbird Resources plc
("Hummingbird Resources" or the "Company") (AIM: HUM)
BLOCK LISTING SIX MONTHLY RETURN
Hummingbird Resources plc ("Hummingbird" or the "Company") today announces the following update relating to its block admission of shares to be issued to certain option holders upon the exercise by such option holders of options granted pursuant to the Company's share options schemes:
Name of company: | Hummingbird Resources plc
|
Name of schemes: | The Hummingbird Resources plc - Unapproved Share Option Scheme, the Hummingbird Resources Limited EMI Share Option Plan 2010, and other share options
|
Period of return: | From: 21 March 2013 To: 16 September 2013
|
Balance under the schemes of securities not issued at the beginning of the period subject to the block admission:
| 3,842,000 ordinary shares |
Number of securities issued under the schemes during the period:
| Nil ordinary shares |
Number of securities lapsed under the schemes during the period:
| 19,500 ordinary shares |
Balance under the schemes of securities not yet issued at the end of the period subject to the block admission:
| 3,822,500 ordinary shares |
Number and class of securities originally admitted and the date of admission:
| 4,385,000 ordinary shares admitted on 21 March 2012 |
Name of contact:
| Thomas Hill, Finance Director |
Telephone number of contact: | +44 (0) 203 416 3560 |
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer
Thomas Hill, Finance Director
Robert Monro, Head of Business Development +44 (0) 203 416 3560
Liberum Capital Limited
Nominated Adviser and Joint Broker
Tom Fyson / Christopher Kololian +44 (0) 203 100 2222
FTI Consulting LLP
Financial PR
Ben Brewerton / Oliver Winters +44 (0) 207 831 3113
Notes to Editors
About Hummingbird Resources plc
Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia. The Group's total Inferred Resource is 3,835,000 ounces of gold. The Group has published a PEA on its project showing on a 3.5Mtpa tank leach operations an NPV of US$337m on a Capex of US$212m for an IRR of 43.4%. This gives a payback period of 3 years and is based on a 10% discount rate and US$1,500 gold price (three year average gold price at time of release).
The Group has published a NI43-101 compliant Inferred Resource on its Dugbe F deposit of 43.01 million tonnes at 1.28 g/t Au to give 1,764,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade. In addition, the Group has declared an Inferred Resource on its Tuzon project of 51.1 million tonnes at 1.26 g/t Au to give 2,071,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au. Tuzon lies 2.6km to the east of the Dugbe F deposit. Exploration is being carried out to best industry practices.
In 2013, the Group is moving the Dugbe 1 Project towards feasibility with 15,802m of infill drilling completed this year.
The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.
For more information, please visit www.hummingbirdresources.co.uk
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