https://www.miningweekly.com

Hummingbird produces 22 206 oz of gold in Q3

26th October 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed Hummingbird Resources poured 22 206 oz of gold at an average grade of 2.99 g/t, for the quarter ended September 30, which represents the company’s second full quarter of commercial production at the Yanfolila gold mine, in Mali.

It sold 20 029 oz of gold at an average price of $1 271/oz, while all-in sustaining costs reached $1 006/oz.

“As previously guided, the quarter was going to be softer in terms of mining and processing levels, given the rainy season that has been unusually heavy,” commented CEO Dan Betts.

Year to date production reached 74 092 oz of gold at the end of the third quarter.

Meanwhile, the 2018 exploration programme delivered early, positive results that the company expects will benefit the mine life, converting the mineral estimate from resources to reserves.

Meanwhile, Hummingbird on Thursday announced that pit stability issues had been identified at the Komana East pit, which present a risk to the continued safe mining directly below its western wall.

The necessary rehabilitation work on the western wall of this pit means that the company’s fourth-quarter production will be negatively impacted and Hummingbird will no longer meet its 2018 production guidance.

The company had previously expected to produce between 105 000 oz and 115 000 oz of gold for the full-year.

The company will give a further update once a remediation plan has been developed.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

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







sq:0.272 0.308s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: