Source - SMW
Shares in mining companies with operations in Mali sank on Wednesday following the resignation of president Ibrahim Boubacar Keita and dissolution of the war-torn country's parliament.

Resolute Mining slumped 14% to 61.98p, Cora Gold dropped 12% to 9.97p, Hummingbird Resource fell 9.2% to 31.32p and Kodal Minerals fell 6.5% to 0.044p.

All four companies said they were closely monitoring developments in the African nation, where Keita had recently been detained by mutinous soldiers.

Each company said there had been no impact on their respective operations, which in Resolute's case included its Syama gold mine, located in the south of Mali on the border with Ivory Coast.

'Resolute has operated Syama since 2003 under the well-established mining laws of Mali, the company said.

Hummingbird Resources, meanwhile, operated the Yanfolila mine in Mali, located some 280 kilometres south west of capital, Bamako.

'The company's security team is in regular contact with the operational and management team regarding the ongoing safety of Hummingbird's staff, operations and assets,' it said.

Hummingbird said it had been operating in Mali since 2015 and in production there since December 2017.

Cora Gold, which owns the Sanankoro project in southern Mali, said it would continue to monitor the situation as it evolved and provide further updates as necessary.

Kodal Minerals said the situation in Mali remained unclear. "However there is an expectation that new elections will be called and the company will make further statements as appropriate," it said.
 
At 1:35pm:

(LON:CORA) Cora Gold Limited Ord Npv Di share price was -1.35p at 9.9p

(LON:HUM) Hummingbird Resources share price was -3.25p at 31.25p

(LON:KOD) Kodal Minerals share price was -0.01p at 0.04p



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