Shareholding Disclosure

RNS Number : 1084J
Hummingbird Resources PLC
09 June 2014
 



 

9 June 2014

 

 

Hummingbird Resources plc

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

 

Shareholding Disclosure

 

 

Hummingbird, the Liberian gold exploration and development company, has been notified that Exploration Capital Partners 2012 Limited Partnership (a private investment fund managed by Resource Capital Investment Corp., part of the Sprott Group of Companies) has a total beneficial holding of 5,278,393 ordinary shares, representing approximately 8.9% of the issued ordinary share capital of the Company.

 

 

 

ENDS

 

Enquiries:

 

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer


Thomas Hill, Finance Director


Robert Monro, Head of Business Development

+44 (0) 203 416 3560



Cantor Fitzgerald Europe


Nominated Adviser and Broker


Stewart Dickson / Tom Sheldon / Jeremy Stephenson

+44 (0) 207 894 7000



FTI Consulting LLP


Financial PR


Ben Brewerton / Oliver Winters

+44 (0) 203 727 1000



 

 

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 has published a PEA on its project showing that using a $1,500 gold price, on a 3.5Mtpa tank leach operation, The project has 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 recently published a Mineral Resource estimate for the Tuzon deposit constrained within a US$1,500 pit shell and using a 0.5 g/t cut off grade comprising of an Indicated Resource of 41.8 Mt at an average grade of 1.51 g/t Au for 2.03 Moz of gold and an Inferred Resource of 10.2 Mt at an average grade of 1.32 g/t Au for 0.43Moz of gold in accordance with the Canadian Institute of Mining, Metallurgy and Petrology Definitions Standards ("CIM Code") for Reporting of Mineral Resources and Ore Reserves. The Group has also 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.

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


This information is provided by RNS
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