Hummingbird Resources PLC Termination of African Gold Group LOI (2570Z)
December 13 2017 - 8:00AM
UK Regulatory
TIDMHUM
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 Hummingbird Resources Tel: +44 (0)20
Thomas Hill plc 3416 3560
Robert Monro
James Spinney Strand Hanson Limited Tel: +44 (0) 20
Ritchie Balmer Nominated & Financial 7409 3494
James Bellman Adviser
Jon Belliss Beaufort Securities Tel: +44 (0) 20
Limited 7382 8300
Broker
Lottie Wadham St Brides Partners Tel: +44 (0) 20
Susie Geliher Ltd 7236 1177
Financial PR/IR
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
END
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