måndag 12 september 2016

Hummingbird, humming along.. bara kursen som inte rör sig

Appointment of Civil Contractor
Hummingbird Resources (AIM: HUM) is pleased to announce an update on progress at its 2.2Moz Yanfolila Gold Project in Mali ("Yanfolila").
Highlights:
  • Appointment of  IMAGRI-SARL (“IMAGRI” or “the Contractor”) as civil works contractor
    • IMAGRI is a leading specialist of building, mining and industrial infrastructure in Mali
  • IMAGRI is responsible for the completion of plant civil works, which includes:
    • ROM tip and primary crusher
    • Secondary crusher and screen
    • Milling and Carbon in Leach (CIL) area
  •  Mobilisation to site will continue throughout September 2016
  • Work targeted to commence at the start of October 2016
  •  Yanfolila project development advances on-schedule and on-budget
Dan Betts, CEO of Hummingbird Resources, said: “Development at Yanfolila continues on-schedule and budget, as we target initial production of 130,000oz gold from the first full year of production.  The appointment of the civil contractor and mobilisation of equipment is a pivotal undertaking in the project’s evolution into a producing mine. IMAGRI’s local experience, which includes working for Randgold in Mali, will be invaluable as we advance Yanfolila.
“I look forward to reporting on additional progress over the coming months as Hummingbird gets closer to delivering one of Africa’s newest and highest margin gold mines, generating in excess of US$70 million free cash flow in its first full year of production at current gold prices.”
Mathias Thibieroz, CEO of IMAGRI, said: “I am delighted that IMAGRI has been selected as contractor, leading the construction of the civil works for the Yanfolila Gold Project.  We are pleased to have been given the opportunity to demonstrate our efficiency and performance on this highly prospective site and look forward to working with Hummingbird and SENET over the coming months."
For the full release please visit our website: http://www.hummingbirdresources.co.uk
Men så är det ju ofta med juniorer, ketchup effekt när det väl händer något. Bolaget är också via sina två stora projekt och låga värdering en högst sannolik uppköpskandidat är min känsla.

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.

Jag har noterat problem med högra "nyhetsrullarna". Jag hoppas det löser sig själv, har inte tid närmaste veckorna att tackla det.

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