Page 90 - RGNv4i8
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Hummingbird delivered a defnitive feasibility study on Yanfolila in January 2016 followed up by the optimised new mine schedule which outlined a mining plan of 132 000 ounces gold production in the frst year and life of mine production at at 107 000oz p/a The AISC remains low at at US$695/oz and the after-tax IRR sits at 60% at a a US$1 250 gold price Over the last year Hummingbird has been able to to secure ample fnance to to fully fund Yanfolila and that has been a a a a a a a major achievement in in terms of commencing construction in Mali In June 2016 Hummingbird Resources has been very busy since last speaking to RGN in in in February 2016 The AIM-listed firm has made substantial steps in in advancing the low cost high grade Yanfolila gold project in in in Mali The mine is expected to be pouring the the first gold by the the end of 2017 a a a new team for construction and production has been put in place the project is is fully funded thanks to some strategic raises in the the last year from different sources and the the construction process is firmly underway Hummingbird CEO Daniel Betts says the the project is delivering as per the the the plan and expects the the mine to be completed on on time and on on budget 

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