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Hummingbird Resources quarterly output falls; affirms annual guidance

By BFN News | 01:16 PM | Wednesday 05 August, 2020


Mali and Guinea focused miner Hummingbird Resources posted a fall in second-quarter production amid disruptions from the Covid-19 pandemic, though the company stuck to its full-year output guidance. The company said 24,054 ounces of gold poured were poured in the three months through June, down from 27,466 ounces on year. Annual guidance was maintained of 110,000 - 125,000 ounces at an all-sustaining cash cost of up to $995 per ounce. 'The COVID-19 pandemic has presented us all with a very challenging and dynamic operating environment over the last few months, which previously caused us to advise that we anticipated cost pressure across the board whilst we moved towards a more stable operating situation,' chief executive Dan Betts said. 'While that proved to be the case in the second quarter, with logistical, mechanical and mining challenges all exacerbated by restricted movements and quarantine periods, I am pleased to say that the team has continued to perform well in these trying times and that we have established a stable footing enabling us have a robust outlook for the second half of the year.' At 1:16pm: (LON:HUM) Hummingbird Resources share price was -0.2p at 40.5p Story provided by StockMarketWire.com

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