Increases Taurus Debt Facility

RNS Number : 7672W

Hummingbird Resources PLC

14 February 2017

 

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

14 February 2017

Hummingbird Resources plc ('Hummingbird' or 'the Company')

Increases Taurus Debt Facility

Hummingbird Resources plc (AIM: HUM), announces that, further to the Company's announcement on 6 December 2016 regarding, inter alia, agreement to increase the existing bridge loan in place between the Company and Taurus Funds Management Pty Limited ("Taurus") from US$15 million to US$25 million, these additional funds have now been fully drawn down.  

**ENDS**

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

Daniel Betts Thomas Hill Robert Monro	Hummingbird Resources plc	Tel: [phone]
James Spinney Ritchie Balmer James Bellman	Strand Hanson Limited Nominated & Financial Adviser	Tel: [phone]
Jon Belliss	Beaufort Securities Limited Broker	Tel: [phone]
Lottie Brocklehurst Susie Geliher	St Brides Partners Ltd Financial PR/IR	Tel: [phone]

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. 

The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird with excellent development upside.  An optimisation of the DFS is on-going whilst Yanfolila is brought to production in the near-term.  Additionally, the Company has 4,000km² highly prospective exploration ground in Mali and Liberia and is constantly evaluating new quality assets.

 

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