https://www.engineeringnews.co.za

Hummingbird lifts stake in Yanfolila project to 80%

13th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Hummingbird Resources has acquired an additional 5% interest and a 1% royalty in the Yanfolila gold project, in Mali, raising its stake to 80%.

The Aim-listed company agreed to take up its option to acquire La Petite Mine d’Or’s 5% interest in the project for $2-million in shares, which will be settled on March 31, 2018.

Hummingbird CEO Dan Betts noted that finalising the acquisition was another “exciting step forward” as the company closes in on its first gold pour from Yanfolila. 

“Additionally, by reducing the royalties over the project we have increased the benefit to Hummingbird, as we firmly believe the mine life will increase significantly as we convert further resources into reserves once we are in production.

“We continue to make excellent progress on site and as a result we continue to advance Yanfolila to production both on time and on budget,” he said.

Yanfolila is expected to produce about 132 000 oz of gold in its first year of full production.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

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:0.045 0.919s - 140pq - 2rq
Subscribe Now