REG - Hummingbird Res. - Termination of African Gold Group LOI <Origin Href="QuoteRef">HUMR.L</Origin>

Hummingbird ResourcesAnnouncement

13/12/2017 14:00

RNS Number : 2570Z
Hummingbird Resources PLC
13 December 2017
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
13 December 2017
Hummingbird Resources plc ("Hummingbird Resources" or "the Company") 
Termination of African Gold Group LOI
Hummingbird Resources (AIM: HUM) notes the press release made by African Gold Group on 12 December 2017 relating to the conditional letter of intent ("LOI") for a potential earn-in to the Kobada Gold Project in Mali as announced on 27 September 2017. Hummingbird Resources confirms that negotiations have ended and the LOI has automatically terminated as the conditions were not satisfied within the 45-day period. 
The Company intends to focus its growth at its Yanfolila Gold Project in Mali ("Yanfolila") on higher grade deposits located on its mining permit, which are in closer proximity to its processing plant. 
Hummingbird Resources is pleased with ongoing commissioning progress at Yanfolila and the Company is 100% focussed on delivering first gold pour at Yanfolila before the end of the year, on time and on budget.
**ENDS**
For further information, please visit www.hummingbirdresources.co.uk or contact:
Daniel Betts
Thomas Hill 
Robert Monro
Hummingbird Resources plc
Tel: +44 (0)20 3416 3560
James Spinney
Ritchie Balmer
James Bellman
Strand Hanson Limited
Nominated & Financial Adviser 
Tel: +44 (0) 20 7409 3494 
Jon Belliss
Beaufort Securities Limited
Broker
Tel: +44 (0) 20 7382 8300
Lottie Wadham
Susie Geliher
St Brides Partners Ltd
Financial PR/IR
Tel: +44 (0) 20 7236 1177
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.
About Hummingbird Resources Plc
Notes to Editors
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. It is currently building Yanfolila targeting first production by end of 2017, 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 low operating costs of US$695/oz AISC with 132,000oz of first full year's production. 

This information is provided by RNS
The company news service from the London Stock Exchange
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