Termination of African Gold Group LOI

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 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 Wadham Susie Geliher	St Brides Partners Ltd Financial PR/IR	Tel: [phone]

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. 

 

END

 

 

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