Hummingbird Resources (HUM)

Sector:

Mining

Index:

FTSE AIM All-Share

25.25p
   
  • Change Today:
      0.75p
  • 52 Week High: 28.50
  • 52 Week Low: 13.00
  • Currency: UK Pounds
  • Shares Issued: 353.69m
  • Volume: 1,155,189
  • Market Cap: £89.31m
  • Beta: 0.08

Hummingbird sees decent increase in production in first quarter

By Josh White

Date: Tuesday 16 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Africa-focussed gold producer Hummingbird Resources updated the market on its operations and production for the first quarter at its Yanfolila Gold Mine in Mali on Tuesday, reporting that 23,807 ounces of gold was poured in the period, up 33% quarter-on-quarter.
The AIM-traded firm said the average mill feed grade was 2.46 grams per tonne, up from 1.91 grams per tonne in the prior quarter, while its all-in sustaining costs fell 23% to $1,297 per ounce.

It said the second ball mill construction at Yanfolila remained on budget and on schedule for completion in the third quarter of 2019, while its total recorded injury frequency rate was 3.77.

Cash at period end totalled $13m, down from $21m at the end of the fourth quarter, while bank debt of narrowed to $56m from $61m.

"The period under review has seen the company resume mining to plan, following a period of remediation work on the pit wall, with a quarter on quarter increase in production of 33%," said Hummingbird chief executive officer Dan Betts.

"In the period, production was impacted by ore depletion from the Komana West pit from historical artisanal workings, which was greater than forecast in the reserve model.

"We are taking immediate steps to reverse the impact of this dilution through working closely with the mine contractor and as we progress deeper in the pits the impact of this is expected to reduce significantly in the near term as we access areas of expected higher-grade ore."

Betts said the company was "looking forward" to receiving the updated reserve and resources report in the second quarter, which would allow it to publish a new life-of-mine plan for Yanfolila.

"It is also pleasing to note the strong progress we have made on the second ball mill project and we look forward to the positive impact that will bring to our process plant capacity once completed."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HUM Market Data

Currency UK Pounds
Share Price 25.25p
Change Today 0.75p
% Change 3.06 %
52 Week High 28.50
52 Week Low 13.00
Volume 1,155,189
Shares Issued 353.69m
Market Cap £89.31m
Beta 0.08

HUM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.44% above the market average80.44% above the market average80.44% above the market average80.44% above the market average80.44% above the market average
74.58% above the sector average74.58% above the sector average74.58% above the sector average74.58% above the sector average74.58% above the sector average
Price Trend
14.17% above the market average14.17% above the market average14.17% above the market average14.17% above the market average14.17% above the market average
42.40% above the sector average42.40% above the sector average42.40% above the sector average42.40% above the sector average42.40% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HUM Dividends

No dividends found

Trades for 18-Oct-2019

Time Volume / Share Price
17:06 261,000 @ 25.25p
15:04 400,000 @ 25.09p
16:29 51,314 @ 25.25p
15:53 1,280 @ 25.55p
14:27 150,000 @ 25.85p

HUM Key Personnel

Finance Director Thomas Hill

Top of Page