Posting of Annual Report

RNS Number : 2548Q

Hummingbird Resources PLC

11 October 2013

 



11 October 2013

Hummingbird Resources plc

("Hummingbird" or the "Company") (AIM: HUM)

Posting of Annual Report

Hummingbird Resources Plc, the Liberian gold exploration and development company with a 3.8 Moz gold Resource, announces that its annual report for the year ending 31 May 2013 has been sent to shareholders and is now available on the Company's website at http://www.hummingbirdresources.co.uk/   

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer
Thomas Hill, Finance Director
Robert Monro, Head of Business Development	[phone]
Liberum Capital Limited
Nominated Adviser and Broker
Tom Fyson / Ryan de Franck	[phone]
FTI Consulting LLP
Financial PR
Ben Brewerton / Oliver Winters	[phone]

Notes to Editors

About Hummingbird Resources plc

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia. The Group's total Inferred Resource is 3,835,000 ounces of gold. The Group has published a PEA on its project showing on a 3.5Mtpa tank leach operations an NPV of US$337m on a Capex of US$212m for an IRR of 43.4%. This gives a payback period of 3 years and is based on a 10% discount rate and US$1,500 gold price (three year average gold price at time of release).

The Group has published a NI43-101 compliant Inferred Resource on its Dugbe F deposit of 43.01 million tonnes at 1.28 g/t Au to give 1,764,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade. In addition, the Group has declared an Inferred Resource on its Tuzon project of 51.1 million tonnes at 1.26 g/t Au to give 2,071,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au. Tuzon lies 2.6km to the east of the Dugbe F deposit. Exploration is being carried out to best industry practices.

In 2013, the Group is moving the Dugbe 1 Project towards feasibility with 15,802m of infill drilling completed this year.

The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

For more information, please visit www.hummingbirdresources.co.uk

 

END

 

 

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