Hummingbird sets 2024 guidance at up to 200 000 oz as Kouroussa ramps up

31st January 2024

By: Creamer Media Reporter


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Aim-listed Hummingbird Resources has set its group production guidance for this year at between 165 000 oz and 200 000 oz at an all-in sustaining cost (AISC) below $1 500/oz.

The miner's Yanfolila mine, in Mali, produced 83 965 oz of gold at an AISC of $1 361/oz in 2023 and is expected to produce between 75 000 oz and 85 000 oz of gold this year.

The company's Kouroussa mine, in Guinea, which produced its first gold in June 2023, produced 6 068 oz of gold during the second half of the year. Production for this year is expected to be between 90 000 oz and 115 000 oz.

"In the face of challenging conditions at Kouroussa, with delays in the mobilisation and commissioning of the mining fleet and the suspension of mining operations due to a fire at Guinea's main fuel depot, we successfully completed construction on schedule and within budget and produced 6 068 oz in the second half of 2023.

"During the mining shutdown, our team used this time diligently to further optimise the ramp-up process, and with fuel deliveries now occurring, all equipment on site and operations restarting our focus remains on reaching commercial production in the first quarter of 2024," CEO Dan Betts says.

He adds that the company's strategic objectives for this year include achieving a substantial increase in group production, significantly reducing the company's net debt position, executing on exploration programmes to further extend life-of-mine at both producing assets and delivering substantial value to its stakeholders through responsible mining practices and strategic growth initiatives.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


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