https://www.engineeringnews.co.za

Hummingbird draws down $10m for Yanfolila development

Hummingbird draws down $10m for Yanfolila development

Photo by Bloomberg

15th August 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Gold explorer Hummingbird Resources’ wholly owned subsidiary, Trochilidae Resources, has drawn down the $10-million available to it under the Taurus Mining Finance Fund bridge facility.

This facility was the first of a two-phase debt facility announced earlier this week, which would enable Hummingbird to fund the construction of the Yanfolila project, in Mali, through to first gold production, targeted for the end of 2015.

“The drawn down funds will be used to cover front-end engineering and design, detailed engineering, drilling, associated optimisation studies and long-lead capital equipment,” Hummingbird said on Friday.

Upon completion of the Yanfolila plant design and associated optimisation studies, Taurus would provide $75-million under a five-year facility to refinance the bridge facility and finance the development costs of Yanfolila.

Edited by Tracy Klückow
Creamer Media Contributing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.975s - 140pq - 2rq
Subscribe Now