REG - Hummingbird Res. - Second Ball Mill Ahead of Schedule at Yanfolila

Hummingbird ResourcesAnnouncement

17/06/2019 07:05

RNS Number : 3928C
Hummingbird Resources PLC
17 June 2019
 


Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
 
17 June 2019
 
Hummingbird Resources plc
 
Second Ball Mill Ahead of Schedule at Yanfolila
 
 
Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM), is pleased to report positive progress on the second ball mill project at its Yanfolila Gold Mine in Mali, West Africa.
 
Highlights:
·    Project ahead of schedule and on budget
·    All engineering work completed and all equipment on site
·    Civil works, mechanical installation and structural erection completed
·   Commissioning of the completed mill due to start in July with full capacity ore throughput expected in August 2019
 
Dan Betts, CEO of Hummingbird, commented: 
"The second ball mill project has continued to progress very well; construction is ahead of schedule and we remain on budget. All teams on the ground have worked hard to ensure that this project has advanced in a timely manner to date and it is encouraging that the mechanical installation of the mill is complete, and that the commissioning team will be mobilising to site before the end of the month. 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." 
 
Photos of progress can be found on our website or follow us on twitter @hum_gold
 
Further information:
 
The second ball mill will augment the existing process plant by increasing throughput capacity from 1Mtpa to 1.24Mtpa when operating at 100% fresh ore and from 1.2Mtpa to 1.4Mtpa when processing a blend of ore types. The mill was deemed the preferential choice when considering the alternative option of installing a tertiary crusher, which was included in the mine's Definitive Feasibility Study.
 
Since commencing the project in September 2018, the Company has continued to reach advancement targets and is delighted that both the engineering and civil works are now fully complete. Notable recently completed construction works include the mechanical installation of the mill, structural steel assembly, fitting of the feed and ball loading chute, and installation of the gearbox cooling system. Outstanding works include installation of the sump pumps and electrical systems, which are ahead of schedule.
 
The project remains on budget and, furthermore, all equipment for the project is now on site, with procurement and logistics teams having successfully coordinated full delivery.
 
 
**ENDS**
 
For further information please visit www.hummingbirdresources.co.uk or contact: 




Daniel Betts, CEO
Thomas Hill, FD
Robert Monro, IR


Hummingbird Resources plc


Tel: +44 (0) 20 7409 6660




 


 


 




James Spinney
Ritchie Balmer
James Bellman


Strand Hanson Limited
 
Nominated Adviser


Tel: +44 (0) 20 7409 3494




 


 


 




James Asensio


Canaccord Genuity Limited
 
Broker


Tel: +44 (0) 20 7523 8000




 


 


 




Gordon Poole
Owen Roberts
Ollie Head


Camarco
 
Financial PR/IR


Tel: +44 (0) 20 3 757 4980




 
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a leading gold production, development and exploration company.  The Company has two core gold projects, the Yanfolila Gold Mine in Mali and the Dugbe Gold Project in Liberia.  Yanfolila produced its first gold pour on time and budget in December 2017.  Yanfolila held pre-production Probable Reserves of 710,535oz @ 3.14g/t, total Resources of 1.8Moz of gold and an additional 390,700oz of non-compliant exploration potential.  The Dugbe Gold Project has Resources currently totalling 4.2Moz of gold and a completed NI 43-101 compliant PEA on the project showing a 29% IRR and US$186m NPV at a US$1,300 gold price.
In addition to Hummingbird's production and development assets, the Company also has an exploration footprint of ~4,000km2 and a 28% interest in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.
 




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