Hummingbird Resources (HUM LN) 17.375p, Mkt Cap £61.5m – Installation of Yanfolila’s second ball-mill running ahead of schedule • The Company reports that installation of the second ball-mill at Yanfolila is running ahead of schedule and remains on budget. • Hummingbird Resources expects the commissioning of the mill to start during July “with full capacity ore throughput expected in August 2019”. The commissioning team is expected to arrive on site before the end of June. • The new mill is expected to increase the existing capacity by 24% from 1mtpa to 1.24mtpa when processing fresh ore and by around 17% (from 1.2-1.4mtpa) when treating blended ore types. • CEO, Dan Betts, explained that “At full capacity, the mine will benefit from economies of scale, with no requirement for additional staff to the second mill, so we therefore look forward to a lowering cost profile with increasing production rates over the LoM." • Currently the remaining work required for the mill installation requires the installation of the sump pumps and electrical systems – both tasks are reported to be ahead of schedule and “all equipment for the project is now on site” suggesting that many of the potential risks to completing the installation and commissioning of the new mill have now been eliminated. • The mine’s draft LoM plant indicates with expanded capacity Yanfolila is expected to run at 130-145kozpa and AISC of $800/oz over the 2020-2022 period. Conclusion: Commissioning of the second ball-mill, which should increase throughput by up to 24%, is due to start at Yanfolila next month with full capacity expected to be achieved during August.
Hummingbird Resources Plc (HUM.L) Announced positive progress on the second ball mill project at its Yanfolila Gold Mine in Mali, West Africa and added that the project ahead of schedule and on budget as well as all engineering work completed and all equipment on site. Moreover, the company added that civil works, mechanical installation and structural erection completed and commissioning of the completed mill due to start in July with full capacity ore throughput expected in August 2019.
RNS Number: 3928 C Hummingbird Resources PLC 17 June 2019 Hummingbird Resources plc/ Ticker: HUM/ Index: AIM/ Sector: Mining. Second Ball Mill Ahead of Schedule at Yanfolila. Hummingbird Resources plc, is pleased to report positive progress on the second ball mill project at its Yanfolila Gold Mine in Mali, West Africa..
RNS Number: 9416 A Hummingbird Resources PLC 03 June 2019 Hummingbird Resources plc/ Ticker: HUM/ Index: AIM/ Sector: Mining. The AGM will be held at the offices of Canaccord Genuity Limited, 88 Wood Street, London, EC2V 7 QR on 26 June 2019 at 09:00am.. The Company has two core gold projects, the Yanfolila Gold Mine in Mali and the Dugbe Gold Project in Liberia.
Hummingbird Resources (HUM LN) 14.5p, Mkt Cap £51m – Annual results highlight operationally challenging 2018 • The Company expects to release updated Reserve and Resources statements by the end of this quarter that would include a revised life of mine plan. • The second ball mill is being installed and is due to come online in Q3/19 raising plant throughput y 24%. • The draft LoM plant indicates with expanded capacity Yanfolila is expected to run at 130-145kozpa and AISC of $800/oz over the 2020-2022 period. • The Company is preparing scoping studies on the Gonka deposit (5km from the process plant) and Komana Est underground potential that is expected to expand the life of mine and improve annual production rate that is currently estimated to come down to 80kozpa form 2023. • FY19 production guided at 110-125koz and above $800-850/oz AISCs with Yanfolila benefiting from increased throughput and open pit operations normalise following disruptions in H2/18. • On annual results, the Company produced 92koz at above $1,000/oz AISC having ramped up Yanfolila to full capacity in H1/18. • Operations have been impacted by heavy rainfall in Q3/18 that led to pit wall instability and damaged public bridge restricting the only access to the site. • The Company reported sales of $116.5m and an operating loss of $4.9m on the back of operational issues in H2/18. • EBITDA amounted to $15.0m. • Loss for the year came in at $12.8m or 2.93USc per share. • The Company had $39.4m in net debt as of Dec/18 comprised of $21.5m in cash and $60.9m in debt.
Hummingbird Resources Plc (HUM.L) Announced, in its final audited results for the period ended 31 December 2018, that its revenue for the continuing operation stood at $116.54 million. Loss for the year was $12.81 million, compared to $5.34 million. The company's diluted earnings per share was 2.93c, compared to 1.55c
RNS Number: 2209 A Hummingbird Resources PLC 28 May 2019 Hummingbird Resources plc/ Ticker: HUM/ Index: AIM/ Sector: Mining. 2018 Audited Final Results and LoM Plan Update. The current draft LoM plan, awaiting finalisation, indicates that in the upcoming 3 years the Company is able to achieve production of 130,000-145,000 oz per year at a targeted AISC of US $800/ oz.
RNS Number: 0974 Z Hummingbird Resources PLC 15 May 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9726 Y Hummingbird Resources PLC 14 May 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Mineral Development Agreement with Government of Liberia. Hummingbird Resources plc, is pleased to announce an update on the 25- year Mineral Development Agreement with the Government of Liberia over a land package of approximately 2,000 km 2, which includes the Company's 4.2 Moz Dugbe Gold Project.. The Dugbe MDA is the first gold MDA to be negotiated with the...
RNS Number: 9265 W Hummingbird Resources PLC 24 April 2019 TR-1: S tandard form for notification of major holdings. i Please note that national forms may vary due to specific national legislation as for instance the applicable thresholds or information regarding capital holdings.. Indicate in the relevant section whether the issuer is a non UK issuer..
RNS Number: 6409 W Hummingbird Resources PLC 18 April 2019 TR-1: S tandard form for notification of major holdings. Please send the completed form together with this annex to the FCA at the following email. Indicate in the relevant section whether the issuer is a non UK issuer..
RNS Number: 4006 W Hummingbird Resources PLC 16 April 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3994 W Hummingbird Resources PLC 16 April 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Hummingbird Resources (HUM LN) 18.4p, Mkt Cap £65m – Q1 production update • 23.8koz produced in Q1/19 (Q4/18: 17.9koz) processing 281.3kt at 2.46g/t (Q4/18: 333.7kt at 1.91g/t). • AISC amounted to $1,297/oz versus $1,677/oz in Q4/18 reflecting Komana East pit wall remediation works carried during the period. • Production is reported to have come below estimates led by weaker plant throughput due to reduced supply of softer oxide ore blend and lower treatment facility availability as well as lower mined grades. • Lower grades and availability of oxide ROM ore was attributed to deeper and more extensive artisanal mining depletion in Komana West, higher than anticipated mining dilution and ore losses as part of rehabilitation works in Q4/18 and early 2019 and lower mining volumes of higher grade zones that are yet to be accessed. • The team is working closely with the mining contractor to improve the delivery of additional tonnes to the ROM pad ahead of the west season. • Additionally, the Company is looking to update resources/reserves and Yanfolila LoM in Q2. • Second ball mill construction works are 60% complete with the project due to be completed in Q3/19 allowing to raise throughput of the milling circuit by c.25% from current 1mtpa (based on fresh ore). • The Company cautiously reiterated its 110-125koz production target for the year while highlighting that AISC may exceed its previous $800-850/oz guided range. Conclusion: Quarterly production update highlights challenges encountered on the mining side as well as lower than anticipated plant availability which are being addressed by the management. While reiterating previous production and AISC guidance, the Company cautioned those may come in weaker than anticipated.
Hummingbird Resources (HUM.L) 18.25p £71.62m Hummingbird Resources, the African gold producer, provided an operational update and announced production results for the Q1 2019, at its Yanfolila Gold Mine in Mali. 23,807 oz of gold poured in Q1 2019 (up 33% from 17,895 oz in Q4 2018) Average mill feed grade of 2.46 g/t (1.91 g/t in Q4 2018) AISC of $1,297/oz (down 23% from $1,677/oz in Q4 2018) Second ball mill construction at Yanfolila remains on budget and on schedule for completion in Q3 2019 Total recorded injury frequency rate ('TRIFR') of 3.77 Cash of $13m ($21m at end of Q4 2018) Bank debt of $56m ($61m at end of Q4 2018)
Hummingbird Resources Plc (HUM.L) Announced, in its 1Q19 production and operational update, that 23,807.00 oz of gold was poured in the period. The company recorded an average mill feed grade of 2.46 g/t. Second ball mill construction at Yanfolila remains on budget and on schedule for completion in 3Q19. Moreover, the company recorded a total injury frequency rate of 3.77.
Founded in late 2005, Hummingbird Resources is a West African gold producer, developer and explorer (AIM:HUM), which listed on AIM in December 2010. Since IPO the Company has significantly grown its global resource inventory from an initial 0.8Moz to 6.4Moz across two countries, Mali and Liberia. Initially focussing the majority of its resources on the Dugbe Gold Project in Liberia, the largest known gold deposit in the country, following the low-cost acquisition of Gold Fields’ gold assets in Mali in 2014, Hummingbird refocussed its attention of the high grade Yanfolila Gold Project. The Yanfolila Gold Project provided Hummingbird with a fast, simple and low-cost route to production, and this was successfully achieved on budget and on schedule in December 2017. The Dugbe Gold Project remains an important component of Hummingbird’s portfolio and the Company published a positive PEA in April 2013 and is currently progressing its Detailed Feasibility Study. The Dugbe Gold Project was the first mining project in Liberia to secure investment from the IFC, a member of the World Bank Group.
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