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Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
14 June 2016
Hummingbird Resources plc ("Hummingbird Resources" or the "Company")
Extension of Deadline for Overallotment Option
Hummingbird Resources plc (AIM: HUM), the West African gold company, announces that further to its Placing and Subscription to raise approximately £45.8 million to fund construction at its Yanfolila Gold Project in Mali as announced on 2 June 2016, the Company reports that in response to investor enquiries, it has agreed with RFC Ambrian Ltd to extend the deadline for applications under the Overallotment Option of up to 31,260,000 shares at 22p from 13 June 2016 to 17 June 2016.
Following this extension, results of the Overallotment Option will be announced by the Company on 20 June 2016. All other terms of the Overallotment Option, including dates, remain as set out in the announcement of 2 June 2016 with admission of new shares allotted under the Placing and Subscription (as defined therein) and the Overallotment Option, if exercised, expected to occur on 21 June 2016, following the General Meeting of shareholders to approve the transactions on 20 June 2016.
**ENDS**
For further information please visit the Hummingbird website www.hummingbirdresources.co.uk or contact:
Daniel Betts Thomas Hill Robert Monro | Hummingbird Resources plc | Tel: +44 (0) 20 3416 3560 |
Charlie Cryer Stefan Murphy Jonathan Stephens Oliver Morse
| RFC Ambrian Ltd Nominated Adviser, Bookrunner and Joint Broker | Tel: +44 (0) 20 3440 6800
|
Jon Belliss | Beaufort Securities Limited Joint Broker | Tel: +44 (0) 20 7382 8300 |
Lottie Brocklehurst Susie Geliher Hugo de Salis | St Brides Partners Ltd Financial PR/IR | Tel: +44 (0) 20 7236 1177 |
About Hummingbird Resources Plc
Notes to Editors
Hummingbird Resources (AIM: HUM) is building a leading gold production, development and exploration company. The Company has two core gold projects, the near-term production Yanfolila Gold Project in Mali and the Dugbe Gold Project in Liberia. Its current focus is on bringing Yanfolila, which has a Probable Reserve of 709,800oz @ 3.14g/t and total Resources of 1.8Moz of gold and an additional 390,700oz of non-compliant exploration potential. The high grade gold project has the potential to turn a profit in a varying gold price environment and will allow for quick returns with low operating costs.
The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird with excellent development upside. An optimisation of the DFS is on-going whilst Yanfolila is brought to production in the near-term. Additionally, the Company has 4,000km2 highly prospective exploration ground in Mali and Liberia and is constantly evaluating new quality assets.