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9 Dec 2013 13:03
9 December 2013
Hummingbird Resources plc
("Hummingbird" or "the Company") (AIM: HUM)
Holdings in Company
Hummingbird, the Liberian gold exploration and development company, has been informed of the following on market sale of ordinary shares of 0.01 pence in the Company by a Director of the Company which occurred on 4 December 2013:
Director | Number of Ordinary Shares Sold | Average Price of Ordinary Shares Sold | Total Number of Ordinary Shares Held Following Transaction | % of Company's Issued Capital |
Matthew Charles Idiens | 550,000 | 37.75p | 2,741,607 | 4.61 |
-ENDS-
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer |
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Thomas Hill, Finance Director |
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Robert Monro, Head of Business Development | +44 (0) 203 416 3560 |
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Cantor Fitzgerald Europe |
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Nominated Adviser and Broker |
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Stewart Dickson / Tom Sheldon / Jeremy Stephenson | +44 (0) 207 894 7000
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FTI Consulting LLP |
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Financial PR |
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Ben Brewerton / Oliver Winters | +44 (0) 207 831 3113 |
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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 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 2013, the Group is moving the Dugbe 1 Project towards feasibility with more than 15,800m of infill drilling completed this year. Additionally, the Group's licence areas constitute a significant proportion of eastern Liberia's Birimian sequence.
For more information, please visit www.hummingbirdresources.co.uk
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