REG - Hummingbird Res. - First Gold Pour at Kouroussa Gold Mine

Hummingbird ResourcesAnnouncement

09/06/2023 07:00

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RNS Number : 2361C  Hummingbird Resources PLC  09 June 2023

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

 

9 June 2023

Hummingbird Resources plc

("Hummingbird" or the "Company")

First Gold Pour at Kouroussa Gold Mine

Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM) is
pleased to announce first gold pour at the Kouroussa Gold Mine ("Kouroussa")
in Guinea on 08 June 2023, ahead of the end of Q2-2023 schedule and on budget.
 

 

Commissioning at Kouroussa commenced early May 2023 and having achieved first
gold pour, the mine is now expected to ramp up to commercial production during
H2-2023. Kouroussa is a high-grade, low-cost mine and is the Company's second
operating gold asset in West Africa. It is expected to produce an average of
120,000 to 140,000 ounces ("oz") of gold for the first three years of
commercial production, and average 100,000 oz per annum over the current life
of mine at an AISC profile of c.US$1,000 per oz.

 

A more detailed update on Group-wide FY-2023 guidance to be provided once
Kouroussa is ramping up.

Dan Betts, CEO of Hummingbird, commented:

"The achievement of first gold pour at our second operating mine, Kouroussa in
Guinea, is a major strategic milestone for the Company, transforming
Hummingbird into a multi-asset, multi-jurisdiction gold producer, that more
than doubles our production profile to 200,000+ oz pa. Kouroussa is the second
mine Hummingbird has built on time and on budget, made up of a construction
team of African and predominately (80%) Guinean personnel. I would like to
thank all our dedicated Kouroussa project team and multiple construction
partners in achieving this outstanding outcome. Our operations team is now
focussed on safely ramping up towards name plate production, expected during
H2-2023".

 

Kouroussa Gold Mine operational updates:

·      First gold pour was successfully poured at Kouroussa on 08 June
2023.

·      Mining continues in preparation for name plate production
expected during H2-2023, with a ROM pad stockpile currently of 120,000 tonnes
available for on-going commissioning and ramp-up.

·      The Kouroussa processing plant is a one million tonne per annum
("Mtpa") capacity standard carbon-in-leach ("CIL") plant.

·      Comprehensive community engagement plans have been implemented,
including daily, monthly and quarterly meetings with local communities and
local authorities covering a variety of topics such as: project progress;
recruitment; local content; environmental monitoring; and health and safety.
 

·      Further, implementation of detailed community project and
livelihood restoration programmes is ongoing as the mine becomes fully
operational.

·      Detailed Kouroussa exploration plans are being developed with a
view to re-initiated exploration drilling plans in H2 2023 / 2024, with the
focus to increase Kouroussa's current Reserves base of 647,000 oz at 4.15 g/t.

 

**ENDS**

Notes to Editors:

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset,
multi-jurisdiction gold producing Company, member of the World Gold Council
and founding member of Single Mine Origin (www.singlemineorigin.com). The
Company currently has two core gold projects, the operational Yanfolila Gold
Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than
double current gold production when at commercial production. Further, the
Company has a controlling interest in the Dugbe Gold Project in Liberia that
is being developed by joint venture partners, Pasofino Gold Limited. The final
feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics
such as a 3.5-year capex payback period once in production, and a 14-year life
of mine at a low AISC profile. Our vision is to continue to grow our asset
base, producing profitable ounces, while central to all we do being our
Environmental, Social & Governance ("ESG") policies and practices.

 

For further information, please visit hummingbirdresources.co.uk
(https://www.hummingbirdresources.co.uk/)  or contact:

 

 

 Daniel Betts, CEO       Hummingbird Resources plc  Tel: +44 (0) 20 7409 6660

 Thomas Hill, FD

 Edward Montgomery, CD
 James Spinney           Strand Hanson Limited      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer          Nominated Adviser
 James Asensio           Canaccord Genuity Limited  Tel: +44 (0) 20 7523 8000

 Gordon Hamilton         Broker
 Bobby Morse             Buchanan                   Tel:  +44 (0) 20 7466 5000

 Oonagh Reidy            Financial PR/IR            Email: HUM@buchanan.uk.com (mailto:HUM@buchanan.uk.com)

 George Pope

 

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