https://www.miningweekly.com

Hummingbird’s Yanfolila on track for first gold pour by year-end

18th July 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Construction at Hummingbird Resources’ Mali-based Yanfolila mine is progressing on schedule and within budget, with several aspects of development, including process design and detailed engineering, now complete.

Updating shareholders on developments at the mine during the three months ended June 30, the company on Tuesday said construction was 56% complete, with 73% of the estimated capital expenditure spend committed, as it continued to target first gold pour by the end of this year.

At a gold price of $1 250/oz, the company anticipates, based on the final project study, free cash flows of around $70-million in the mine’s first full year of production. 

Hummingbird acquired a further 5% interest in Yanfolila during the quarter, as well as the 1% royalty from La Petite Mine d’Or for a total consideration of $2-million to be paid in shares on March 31, 2018.

“The construction of the Yanfolila gold project continues at pace. We currently have over 700 people on site and the construction team has recently completed 500 000 lost-time incident-free hours, which is a significant achievement,” CEO Dan Betts said.
 
Meanwhile, construction of the carbon-in-leach tanks at Yanfolila is now complete, allowing other work fronts to progress rapidly.

The ball mill arrived on site, on time, in preparation for its installation. This was the longest lead item for the project and its arrival materially derisked the construction timeline. 

Construction of the crushing circuit is ongoing with parts of the conveyor system starting to arrive on site. Preassembly of the conveyor sections has started and their installation is expected to start imminently.
 
A significant portion of the rest of the plant and equipment is now on site and installation of this equipment has started.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

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:0.042 0.789s - 110pq - 2rq
Subscribe Now