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15 Dec 2017 07:00
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc ("Hummingbird" or "the Company")
Ore Commissioning Commenced at Yanfolila
Hummingbird Resources (AIM: HUM) is pleased to announce that ore commissioning has commenced at the Yanfolila Gold Mine in Mali ("Yanfolila" or "the Project").
Highlights:
· Introduction of ore to the mill and the carbon in leach ("CIL") process plant from the run-of-mine ("ROM") pad stockpile has commenced
· First gold production expected before the end of December
· Commercial ramp up during Q1 2018 with a target of delivering c.130,000 ounces of gold during the first full year of production
Dan Betts, CEO of Hummingbird, commented:
"Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a smooth ramp up of the plant as we look to move into the production phase. This is a key transitional moment for Hummingbird, transforming the Company from a developer to a producer. Our first year's production is expected to be around 130,000oz of gold, which is projected to generate around US$70m of free cash flow at a US$1,250 gold price. I look forward to reporting news of our first gold pour in the very near future."
Please click on the following link to see recent pictures and videos from Yanfolila: http://hummingbirdresources.co.uk/gallery/.
**ENDS**
For further information, please visit www.hummingbirdresources.co.uk or contact:
Daniel Betts Thomas Hill Robert Monro | Hummingbird Resources plc | Tel: +44 (0)20 3416 3560 |
James Spinney Ritchie Balmer James Bellman | Strand Hanson Limited Nominated & Financial Adviser | Tel: +44 (0) 20 7409 3494
|
Jon Belliss | Beaufort Securities Limited Broker | Tel: +44 (0) 20 7382 8300 |
Lottie Wadham Susie Geliher | St Brides Partners Ltd Financial PR/IR | Tel: +44 (0) 20 7236 1177 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
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. It is currently building Yanfolila targeting first production by end of 2017, 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 132,000oz of first full year's production.
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