Hummingbird Resources said it would re-commence drilling at its Yanfolila gold mine in Mali in the first quarter of 2020. The company also provided an updated on its reserves at the Yanfolila and said it was on track to meet full-year production guidance. The ore reserves for the Yanfolila operations was 7.9m tonnes of reserve ore at 2.66 grams per tonne containing 676,000 ounces of gold. That compared to the previous estimate of 7.04m tonnes at 3.14 grams per tonne containing 709,800 ounces. The company said it would detail a five-year mine plan based off its updated ore reserves and its 2020 guidance in early 2020. The fourth quarter of 2019 had remained a 'strong' quarter, keeping the company on track to meet its full-year production guidance, Hummingbird said. 'Over the course of 2020 we shall continue to aggressively de-leverage our debt position and strengthen our balance sheet with the anticipation of moving from a position of net debt to net cash,' it added. At 9:40am: (LON:HUM) Hummingbird Resources share price was +0.25p at 20.75p
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.