REG - Hummingbird Res. - Security incident in Mali

Hummingbird ResourcesAnnouncement

29/05/2018 16:25

RNS Number : 5812P
Hummingbird Resources PLC
29 May 2018
 


Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
 
Hummingbird Resources plc
("Hummingbird" or the "Company")
 
Security incident in Mali
 
In recent days, a limited number of people in the local area have disputed the Company's plan, previously agreed with local community leaders, the Government of Mali's Ministry of Mines and local government, to extend mining operations within the Company's permit area to the Komana West deposit.  Our understanding is that this group of people were acting unilaterally to stop the Company carrying out initial site preparation work at Komana West.
 
The Company has been informed by the Malian National Guard that while upholding the rule of law, requested of them by the Government of Mali, a security incident occurred.  Very regrettably, we have been informed that this incident has led to the loss of at least three lives (two of which are believed not to be Malian nationals).  The Company expresses its sincerest condolences to the families of the deceased and others affected by this incident.  
 
All Hummingbird employees and contractors are safe.  The process plant continues to operate at this time.
 
The Government of Mali has a 20% interest in the Yanfolila Gold Mine and the mine has a 95% Malian work force. 
 
Further updates will be given by the Company as appropriate. 
 
**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 & Broker


Tel: +44 (0) 20 7409 3494
 


















Gordon Poole
Owen Roberts
James Crothers
 


Camarco
Financial PR/IR


Tel: +44 (0) 20 3 757 4980































About Hummingbird Resources Plc
 
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 and is expected to produce approximately 107,000oz gold/year on average over the Life of Mine.  Yanfolila holds Probable Reserves of 709,800oz @ 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 34% interest in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.
 
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
 
 




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