Hummingbird Resources increases gold production in Q2

AIM-listed Hummingbird Resources is on course to meet its annual gold production guidance after increasing production from the Yanfolila mine in Mali during the second quarter of the year.

The company poured 27,466 ounces of gold from Yanfolila in Q2, up from 23,807 ounces in the first quarter of 2019. Hummingbird sold a total of 27,701 ounces of gold in the three months to June, at an average price of US$1,311 per ounce.

During the quarter Hummingbird completed the construction of a second ball mill at Yanfolila ahead of schedule and under budget, and is currently commissioning the project which will increase plant throughput capacity by 20%.

Hummingbird will maintain its 2019 production guidance in the range of 110,000 to 125,000 ounces of gold and is targeting annual production of 130,000 ounces from 2020 onwards.

CEO Dan Betts said: “The company is pleased to report a steadily improving operational performance in the second quarter.

“The issues previously communicated which adversely affected production in the first quarter have largely been addressed and this has translated into an improved production profile.”

@RGNonline