HUMMINGBIRD PROVIDES A STATEMENT ON COVID-19

RNS Number : 6991H

Hummingbird Resources PLC

26 March 2020

 

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

Hummingbird Resources plc

("Hummingbird" or the "Company")

HUMMINGBIRD PROVIDES A STATEMENT ON COVID-19

Hummingbird (AIM:HUM) places the safety and wellbeing of its staff, contractors, service providers and suppliers as an absolute priority. Hummingbird is following the guidelines provided by the World Health Organisation ("WHO") in relation to COVID-19 and, together with its medical business partner, Critical Care International ("CCI") has access to some of the best advice around the globe and has activated key procedures and mechanisms across the business to ensure minimal disruption to operations.  Currently the business continues as normal with no impact on production at the Yanfolila mine in Mali.

A COVID-19 task force has been established with a robust set of procedures being implemented at site in order to minimise the potential impact of COVID-19 where possible. These measures include, but are not limited to, the movement of people and goods; hygiene and cleanliness; social distancing and remote working;  isolation procedures in the event of higher risk personnel or positive cases; community liaison and contingency plans for potential disruptions including increases of inventory and reagents where feasible.  We are communicating with our key suppliers, service providers and the Government of Mali all of whom are committed to maintaining functional operations at Yanfolila.

COVID-19 presents a set of dynamic challenges which the task force will try to mitigate through daily planning sessions. These risks primarily involve potential disruptions to logistical movement, both into and out of the country and to site, of people, goods, supplies, spares, reagents and the export of gold which may impact our ability to operate. Mali is a landlocked country and so is not only subject to whatever regulations its own government impose but also those imposed on it by others.  Currently Mali, like many other countries in the region, and globally, has temporarily closed its national borders for civilian travel.

In order to meet the Company's primary objective of ensuring business continuity for the long-term benefit of all our stakeholders, the following short term strategic objectives have been identified with the aim of maintaining production and cashflows, together with progressing key medium and long term initiatives for the duration of this unprecedented global event.

1.  Protect and secure the operating environment and local communities;

2.  Protect the health, safety and fitness-to-work of everybody working at site;  

3.  Protect and preserve the supply chain; and

4.  Protect and preserve short term liquidity.

Hummingbird has counselled all employees about the symptoms and procedures being implemented  as well as running education sessions in the surrounding areas to Yanfolila and remains committed to maintaining operations for the benefit for all stakeholders. The Group is working closely with national and local authorities and will be monitoring the situation closely whilst ensuring the safe operation of the Yanfolila mine. 

Despite the content of this announcement, to date Hummingbird has experienced no adverse impact on its production from COVID-19 and expects Q1 production to be in line with expectations based on annual guidance.

**ENDS**

For further information please visit www.hummingbirdresources.co.uk or contact:  

Daniel Betts, CEO Thomas Hill, FD Douglas Ross, IR	Hummingbird Resources plc	Tel: [phone]
James Spinney Ritchie Balmer James Bellman	Strand Hanson Limited Nominated Adviser	Tel: [phone]
James Asensio Ed Montgomery	Canaccord Genuity Limited Broker	Tel: [phone]
Gordon Poole Owen Roberts Ollie Head	Camarco Financial PR/IR	Tel: [phone]

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.  At 31 October 2019 Yanfolila has a 7.9Mt of Reserve ore @ 2.66 g/t for 676,000ozs gold.  At 31 March 2019 Yanfolila had a total Resource base (inclusive of Reserves) of 28Mt of Ore @ 2.23 g/t for 2,005,300ozs gold.  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 43% IRR and US$337m NPV at a US$1,500 gold price.

In addition to Hummingbird's production and development assets, the Company also has an exploration footprint of ~4,000km2 and a significant shareholder in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.

 

END

 

 

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