Stock Market News
Hummingbird Resources prepares to open Malian gold mine
Multi-asset gold company Hummingbird Resources saw production begin on budget and on schedule at its Yanfolila Gold Mine in Mali during its fourth trading quarter, setting the firm up for a promising 2018.
In the twelve months to 31 December 2017, Hummingbird commissioned the 1.24m tonne per annum carbon-in-leach (CIL) processing plant at Yanfolila, of which it issued a target of 130,000 ounces of gold at a grade of 3 grams per tonne (g/t) from the first year of production.
Ramp up to commercial production remained on plan after the period end, with plant throughput reaching 65% during the last two weeks of December, as Malian President Ibrahim Boubacar Keita was set to officially open the mine on 14 February.
Dan Betts, chief executive of Hummingbird, said, "The last quarter of 2017 saw Hummingbird become the newest African gold producer, delivering the Yanfolila Gold Mine on time and budget. The team on the ground at Yanfolila operated 24/7 over the Christmas period and the ramp up is going well and on track to reach commercial production as planned."
Hummingbird had a net cash position of $40m at year end.
As of 1120 GMT, shares had inched forward 2.05% to 38.17p.
In the twelve months to 31 December 2017, Hummingbird commissioned the 1.24m tonne per annum carbon-in-leach (CIL) processing plant at Yanfolila, of which it issued a target of 130,000 ounces of gold at a grade of 3 grams per tonne (g/t) from the first year of production.
Ramp up to commercial production remained on plan after the period end, with plant throughput reaching 65% during the last two weeks of December, as Malian President Ibrahim Boubacar Keita was set to officially open the mine on 14 February.
Dan Betts, chief executive of Hummingbird, said, "The last quarter of 2017 saw Hummingbird become the newest African gold producer, delivering the Yanfolila Gold Mine on time and budget. The team on the ground at Yanfolila operated 24/7 over the Christmas period and the ramp up is going well and on track to reach commercial production as planned."
Hummingbird had a net cash position of $40m at year end.
As of 1120 GMT, shares had inched forward 2.05% to 38.17p.
Related share prices |
---|
Hummingbird Resources (HUM) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price