6th Aug 2020 14:12
(Correcting Yanfolila all-in-sustaining cost for the second quarter.)
Hummingbird Resources PLC - African gold producer - Provides second quarter operational and trading update on Yanfolila mine in Mali showing 24,054 ounces gold poured in period, down from 27,466 ounces in the same quarter of 2019. Sells 31,520 ounces of gold at USD1,663 average price per ounce. All in sustaining cost for Yanfolila USD983 per ounce versus USD998 year-on-year. Recordable injury frequency rate 2.3, under 2.5 target. June 30 cash USD6 million versus USD9 million December 31 and 4,000 ounces gold inventory on hand compared to 2.900 ounces 2019-end worth around USD8 million. Reduces bank debt by USD14 million from December to USD26 million. Maintains 2020 guidance for 11,000 to 125,000 ounces and ASIC USD995 per ounce. On track for net cash position target in second half with bank loans repaid by end of 2021 first half. Q2 Yanfolila mine drill intersections received includes 5.7 metres at 16.42 grams per tonne of ore from 263 metres depth.
By Anna Farley; [email protected]
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