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.