Last checked at 9 Jun 2014 07:00
9 June 2014
Hummingbird Resources plc
("Hummingbird" or the "Company") (AIM: HUM)
Shareholding Disclosure
Hummingbird, the Liberian gold exploration and development company, has been notified that Exploration Capital Partners 2012 Limited Partnership (a private investment fund managed by Resource Capital Investment Corp., part of the Sprott Group of Companies) has a total beneficial holding of 5,278,393 ordinary shares, representing approximately 8.9% of the issued ordinary share capital of the Company.
ENDS
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer | |
Thomas Hill, Finance Director | |
Robert Monro, Head of Business Development | +44 (0) 203 416 3560 |
Cantor Fitzgerald Europe | |
Nominated Adviser and Broker | |
Stewart Dickson / Tom Sheldon / Jeremy Stephenson | +44 (0) 207 894 7000 |
FTI Consulting LLP | |
Financial PR | |
Ben Brewerton / Oliver Winters | +44 (0) 203 727 1000 |
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 that using a $1,500 gold price, on a 3.5Mtpa tank leach operation, The project has 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 recently published a Mineral Resource estimate for the Tuzon deposit constrained within a US$1,500 pit shell and using a 0.5 g/t cut off grade comprising of an Indicated Resource of 41.8 Mt at an average grade of 1.51 g/t Au for 2.03 Moz of gold and an Inferred Resource of 10.2 Mt at an average grade of 1.32 g/t Au for 0.43Moz of gold in accordance with the Canadian Institute of Mining, Metallurgy and Petrology Definitions Standards ("CIM Code") for Reporting of Mineral Resources and Ore Reserves. The Group has also 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.
For more information, please visit www.hummingbirdresources.co.uk