Hummingbird Resources (#HUM) – power plant fully commissioned at Yanfolila
- 2017-10-24 23:47:17
John Meyer of SP Angel this morning comments on Amur Minerals (AMC), Galantas Gold (GAL), GB Minerals (GBL), Glencore (GLEN), Hummingbird Resources (HUM), Paragon Diamonds (PRG) & Tri-Star Resources (TSTR) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Out-of-favour West African gold play Hummingbird Resources (HUM) has negotiated an extension of its bridging loan facility with Sydney-based investment group Taurus Funds Management from $10 million (£6.5 million) to $15 million and intends to have its 1.8 million-oz. Yanfolila project in Mali in production next year. The AIM-quoted company, whose shares have fallen from a 2010 float price of 167p to a mere 23.75p now in a dire market for gold, has completed initial earthworks over 80,000 cubic metres there and is poised to make the site ready for mining to begin, which will involve the first drawdown from the chief $75 million facility provided by Taurus under an agreement struck last year.
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at the shares of Acacia Mining (ACA), Centamin (CEY), Hummingbird Resources (HUM) and offer some share price targets.
Out of favour West African gold play Hummingbird Resources (HUM) is trumpeting positive developments at both its key 1.8 million-oz. Yanfolila project in Mali and its longer-term 4.2 million-oz. Dugbe prospect in Liberia. The AIM-quoted company, whose shares have crumbled 80% from their 167p AIM float price in 2010 to 32.5p now, has hoisted likely recoverable grades at the Komani East deposit within Yanfolila 68% to 5.24 grammes of gold per tonne of ore by means of grade control orientation drilling ahead of scheduled first production in the middle of next year.
John Meyer of SP Angel this morning comments on Anglo Asian Mining (AAZ), Hummingbird Resources (HUM), North River Resources (NRRP), Polymetal (POLY) and ZincOx Resources (ZOX) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.









