1st Jul 2019 11:58
(Alliance News) - Gold miner Hummingbird Resources PLC on Monday said it has completed the second ball mill at the Yanfolila mine ahead of schedule and on budget.
Hummingbird is to commission the mill immediately, and ore will be introduced in July, a month earlier than planned.
Once it becomes operational, throughput capacity at Yanfolila, in Mali, will rise to 1.2 million tonnes a month from 1.0 million currently.
Chief Executive Dan Betts said: "We are delighted to announce the completion of construction of the second ball mill at Yanfolila ahead of schedule. This is testament to the hard work of our staff and contractors who have worked extremely well together to deliver this project so successfully.
"We look forward to the positive benefits the second ball mill will bring, namely increasing our plant throughput capacity by around 24% and the resultant economies of scale as we transition to an increased rate of annual gold production."
Elsewhere, in July 2018, Hummingbird agreed a USD2 million convertible loan with Bunker Hill Mining Corp. It has now agreed to convert USD100,000 of this into Bunker Hill shares, with USD1.9 million outstanding.
Hummingbird shares were 1.8% higher on Monday morning at 17.30 pence each.
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