Hummingbird Resources - baut gerade eine Goldmine in Mali 107k zu 695 AISC (Seite 5)

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Precious Metals Summit Beaver Creek, Sept. 18-20, 2017
http://www.gowebcasting.com/events/precious-metals-summit-co…

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Neue Q3 Präsentation
http://hummingbirdresources.co.uk/_downloads/Hummingbird_Q3_…

Konstruktion zu 75% fertig
60Mio$ Cash und 155 Mio$ Mkap - voll finanziert
Vorproduktion/Abbau hat begonnen
Q4 Inbetriebnahme

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http://www.proactiveinvestors.co.uk/companies/news/183384/hu…
Hummingbird building a gold production presence in Africa and on the London market
Share
11:19 04 Sep 2017
Hummingbird is one of the few miners in recent years that's actually been able to finance and build a significant gold mine
Hummingbird building a gold production presence in Africa and on the London market

Profitable gold production is likely in a number of pricing scenarios
Core asset: the Yanfolila gold mine in Mali
In 2014 Hummingbird Resources PLC (LON:HUM) took over the Yanfolila gold project in Mali from Gold Fields (JSE:GFI), which in turn had taken it over from one-time London-listed junior Glencar.

Gold Fields, as one of the largest gold producing companies in the world, had concluded that on the whole the project was too small for it. But that hadn’t precluded it doing a lot of detailed investigations on viability, following up on the initial resource work that had been done by Glencar.

This work was then handed onto Hummingbird, which proceeded rapidly on to completing final economic studies, raising money and moving on into development.

Economic in a variety of gold price scenarios
According to the most up-to-date study conducted by Hummingbird, Yanfolila is capable of producing an after-tax internal rate of return of 60%, assuming a gold price of US$1,250, lower than where it is now.

That would be on the basis of life of a production scenario weighted towards the early years, but which over the life of the mine would produce at an average rate of 107,000 ounces per year.

However, if gold were to rise to US$1,400, the after-tax IRR rises to 77%. Similarly the NPV jumps from US$162 mln to US$216 mln.

Conversely though, if the gold price should fall to US$1,100, the project will still enjoy a 42% internal rate of return.

Mining underway
Hummingbird has now commenced mining at Yanfolila, although gold production is still some weeks away. That’s partly because the plant isn’t quite complete yet, and partly because the company is building up a planned stockpile of ore to allow for an orderly introduction into the process plant before the end of the year.

As it stands, Yanfolila is forecast to produce 132,000 ounces in its first year of production, at an average all-in sustaining cost over the life of the mine of US$695 per ounce.

Well-covered by brokers
In 2016, Beaufort Securities called Yanfolila “one of the best undeveloped gold projects in Africa”.

That analysis is only running out of date because Yanfolila is now producing, but the company is well-followed by other brokers, including Mirabaud, SP Angel and Shore Capital, and that kind of coverage isn’t always easy to achieve for a junior miner.

But with the gold price on an upward trend, and gold companies known to re-rate significantly once they move from development into production, the reasons for the interest are pretty clear.

Chief executive in upbeat mood
“Commencement of mining activities at Yanfolila is a significant milestone for Hummingbird as we continue to bring the project closer to production by the end of this year,” said chief executive Dann Betts.

“Our contract mining partners, AMS, have mobilised a significant fleet to site and this commitment emphasises the momentum the project has gained throughout the year. As we enter the final months of construction we remain on time and budget for first gold by the end of 2017. We will look to build on the current momentum as we ramp up to full scale mining and production.”

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Hummingbird flies onto global gold radar

Emerging gold producer Hummingbird Resources (LN: HUM) is on track to reap a cash windfall in 2018 from the new, 80%-owned Yanfolila mine in Mali. Yet the transformational event in Hummingbird’s move towards its goal of being a mid-tier gold company could be rivalled by significant developments on another front over the next 12 months.
Mining Journal29 Aug 20170:02 Company Profile

mehr
http://www.mining-journal.com/gold-and-silver-investor-hub/g…

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Mining Operations Commence at Yanfolila Gold Project in Mali

Hummingbird Resources (AIM: HUM) is pleased to announce that pre-production mining has commenced on schedule at its Yanfolila Gold Project in Mali ("Yanfolila" or "the Project") which is on track for its first gold pour by the end of 2017.

Highlights

· Pre-production mining by contract fleet, African Mining Services ("AMS") has commenced on schedule

· Ore to be stockpiled in advance of its introduction to the process plant in Q4 2017

· Process plant construction and associated infrastructure remain on budget and schedule - commissioning anticipated in Q4 2017

· Yanfolila is forecast to produce 132,000oz gold in its first full year of production at a Life of Mine ("LoM") All in Sustaining Cost ("AISC") of US$695/oz

· Average production of 107,000oz/year of gold over the Life of Mine in tandem with exploration and development initiatives to expand the current mine plan

Dan Betts, CEO of Hummingbird, commented: "Commencement of mining activities at Yanfolila is a significant milestone for Hummingbird as we continue to bring the Project closer to production by the end of this year. Our contract mining partners, AMS, have mobilised a significant fleet to site and this commitment emphasises the momentum the Project has gained throughout the year.

"As we enter the final months of construction we remain on time and budget for first gold by the end of 2017. We will look to build on the current momentum as we ramp up to full scale mining and production."

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Hummingbird mine on track to boost Mali's gold output
https://af.reuters.com/article/investingNews/idAFKCN1B90KF-O…

LONDON (Reuters) - Hummingbird Resources said on Tuesday it had begun pre-production mining on schedule at its Yanfolila Gold Project in Mali and is on track to produce its first gold by the end of the year.

In Mali, Africa’s third largest gold producer after South Africa and Ghana, around a quarter of government revenues come from gold. Output has been falling this year pending the opening of new mines.

In its first full year of production, Yanfolila will produce 132,000 ounces of gold and average production over the life of the mine will be 107,000 ounces per year.

Hummingbird shares have almost doubled this year after the AIM-listed company successfully raised $75 million in 2016 to begin mine construction.

Yanfolila is expected to be one of the highest margin, lowest cost gold projects in West Africa, Hummingbird said.

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http://www.miningweekly.com/article/explorer-overcomes-fundi…

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Hummingbird Resources: Singing to the tune of success
http://www.miningglobal.com/company/hummingbird-resources-si…

Hummingbird Resources Is Getting Ready To Fly
Jul.28.17 | About: Hummingbird Resources (HUMRF)
https://seekingalpha.com/article/4092011-hummingbird-resourc…

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Q2 Update: Pre-Production Mining to commence in Q3
Tue, 18th Jul 2017 07:00
RNS Number : 3008L
Hummingbird Resources PLC
18 July 2017

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc ("Hummingbird Resources" or "Hummingbird" or "the Company")

Quarterly Review
Commencement of Pre-Production Mining due in Q3

Hummingbird Resources (AIM: HUM) is pleased to announce a review of activities during Q2 2017, including the advancement of mine construction at the Yanfolila Gold Project in Mali ("Yanfolila" or "the Project").

Highlights:

Operational
· Continued advancement of the 1.2Mtpa Yanfolila mine ahead of targeted first gold pour by the end of 2017
· Construction remains on schedule and on budget with several aspects of development now completed:

Area
Progress completed
Process Design
100%
Detailed Engineering
100%
Procurement and Delivery
88%
Construction
56%
Committed Capex
73%
Commissioning
0%

· Arrival of ball mill to site - significant milestone achieved in mine development which de-risks the delivery of Yanfolila's critical path
· African Mining Services ("AMS") contract fleet on site and assisting with Tailings Storage Facility ("TSF") construction alongside Malian civil contractor Inter Mining Services ahead of AMS commencing pre-production mining in Q3 2017
· 90% of Capex committed on the process plant construction

Corporate

· Increased ownership in the Project to 80% from 75% following the Company's acquisition from La Petite Mine d'Or SARL ("LPMDO") of its 5% interest in the Project for US$1 million
· Hummingbird also successfully negotiated the acquisition of the 1% royalty LPMDO had over the Project for a further US$1 million
· Total consideration of US$2 million to be paid in shares on 31 March 2018
· US$60 million debt facility entered into with Coris Bank International Group in April 2017
· US$35 million balance drawn from debt facility with Coris Bank International - facility is now fully drawn down having drawn an initial US$25 million in April 2017
· Company's cash balance on 17 July 2017 was approximately US$70 million

Please click on the following link to see recent pictures and videos of construction: http://hummingbirdresources.co.uk/gallery/. This will continue to be updated regularly.

Dan Betts, CEO of Hummingbird, commented:

"The construction of the Yanfolila Gold Project continues at pace. We currently have over 700 people on site and the construction team has recently completed 500,000 Lost Time Incident ("LTI") free hours which is a significant achievement.

"The Project remains on time and on budget and the team remains highly motivated as we enter the final phases of construction and mobilisation for mining begins.

"During Q2 we acquired a further 5% interest in Yanfolila and bought out a 1% royalty on the Project for a settlement of US$2m of Hummingbird shares to be settled in March 2018. This will allow us to retain more of the cashflows from Yanfolila for the benefit of shareholders. Based on our Reserves alone this is estimated to add at least US$10 million to the cashflows attributable to Hummingbird.

"Additionally, we entered into a loan agreement with Coris Bank International who are a supportive and knowledgeable lender. We have subsequently drawn the whole US$60 million loan in order to bring any financing risk to an absolute minimum. At a US$1,250 gold price we anticipate, based on the final Project study, free cashflows of around US$70 million in our first full year of production. We are very excited about keeping the market and our shareholders abreast of developments over this very busy Q3 period."

Further Information:
Construction Update

Progress continues to be made across all areas of construction at the Yanfolila Gold Project.

Construction of the CIL tanks are now complete. The completion of the CIL tanks has allowed other work fronts to progress rapidly, for example the tank agitators and tank-top steel are also now installed, again opening up more mechanical work fronts. The ball mill arrived on site on time and preparation is in place for its installation. This was the longest lead item on the Project and its arrival materially de-risked the construction timeline. Construction of the crushing circuit is ongoing with the conveyor system starting to arrive on site. Pre-assembly of the arrived conveyor sections has started and their erection is expected to start imminently.

A significant portion of the rest of the plant and equipment is now on site and installation of this equipment has started.

AMS has mobilised to site and is currently working on the TSF before commencing pre-production mining. Initial pre-production mining is due to start in Q3 2017.

A second round of grade control drilling was completed at the Komana East pit in advance of mining. 2,057m of drilling was completed over 11 days. This drilling was targeting zones where the mineralisation was not closed off either in the hanging wall or footwall of the main mineralisation.

Aggreko, the appointed power provider, will be mobilising to site in Q3 2017 to provide around 6MW of power from the commencement of commissioning. Construction power is currently provided through a 1.6MW generator. As previously announced Zen continue to provide fuel on site and the main fuel facility is currently being built to allow for greater fuel storage capacity.

Hiring of key personnel continues and the Company has been pleased with the quality of applicants as it builds up its capacity to move from construction into operations when commissioning starts.

Interest in Yanfolila Gold Project

When the Company acquired the Project the Government of Mali ("GoM") had a 10% free carried interest and LPMDO had a 5% interest in the Project. The GoM also had the right to acquire an additional 10% interest in the Project that it exercised in February 2017 for US$11 million, taking its stake to 20%.

Hummingbird has agreed to take up its option with LPMDO to acquire its 5% interest in the Project for US$1 million bringing the Company's interest in Yanfolila to 80%. In addition the Company has negotiated the acquisition of the 1% royalty LPMDO had over the Project for a further US$1 million. The 3% royalty to the GoM over the Project remains.

The consideration of US$2 million due to LPMDO will be satisfied though the issue of 6,197,353 ordinary 1p shares in Hummingbird which are expected to be issued on 31 March 2018.

Debt Facility with Coris Bank International

In April, the Company's subsidiary, SMK, entered into a senior secured term debt facility with Coris Bank International, one of the largest and fastest growing banks in West Africa. This new facility of up to US$60 million replaces the funding line previously anticipated with Taurus Mining Finance Management ("Taurus") to provide the Company with sufficient working capital to complete the mine build at Yanfolila at a lower cost and without any royalty commitment, which will result in a material saving for Hummingbird over the life of the mine. Following an initial draw down of CFA15.5 billion (approximately US$25 million) in April, the Company drew the balance of the debt facility (approximately US$35 million) post period end in July 2017.

Additionally the Company has also extended the termination date of the subscription agreement with Lindine Inc which was entered into on 1 June 2016 to 31 December 2017 and that the amount payable shall revert to the original 22p per share. The amount of shares currently outstanding to be paid for is 8,103,425 shares.

Yanfolila Exploration

The Company re-iterates the statement it made in its Q1 Update released on 24 April 2017 that it has reviewed all of its exploration potential on its mining permit and has created an outline plan to exploit that potential. Once Yanfolila is in production, the Company is looking forward to entering into a more active exploration programme with the specific focus on achieving a 10+ year Reserve mine life in the short term. Currently Hummingbird's Resources have been converting to Reserves at around a 50% rate so the Company looks forward to doing further work on the 1+Moz of Resources not currently in Reserves as well as other discoveries at a pre-Resource stage (noting there is no guarantee the conversion rate will remain the same). These targets include the Gonka deposit where the results of the scoping study published in early 2016 showed the potential for mining ore at grades of over 4.5g/t with a significant potential increase to the NPV.

Liberia update

The Company's 4.2 million ounce Dugbe Gold Project in Liberia ("Dugbe") offers a large-scale development opportunity for Hummingbird as demonstrated in the 2013 Preliminary Economic Assessment which showed viable economics of developing a 20 year gold mining project with initial gold production of 125,000 ounces per annum, an NPV of US$186 million, and IRR of 29% using a US$1,300/oz gold price. Signing a Mineral Development Agreement with the Government of Liberia in July 2015 gave the Company security of tenure for at least the next 25 years, allowing Hummingbird to focus on bringing Yanfolila to production whilst retaining access to the long-term potential of Dugbe. As Hummingbird approaches the production stage at Yanfolila and with the gold price looking increasingly favourable, the options to realise the significant latent value locked up within Dugbe should increase.

**ENDS**

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Hier eine gelungene Zusammenfassung des AGM:

http://www.iii.co.uk/investment/detail/?display=discussion&c…