Kouroussa gold project, Guinea – update

Image of the Kouroussa gold operation, in Guinea

Photo by Hummingbird Resources

26th May 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Kouroussa gold project.

Siguiri basin, Guinea.

Project Owner/s
Hummingbird Resources.

Project Description
Kouroussa has reserves of 4.86-million tonnes grading 4.15 g/t gold. The project is forecast to be a high-grade, low-cost mine that will produce an average of 100 000 oz/y over an initial seven-year life-of-mine, with material upside potential through further exploration drilling, which is being planned.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated net present value of $210-million and internal rate of return 71%, with a payback of two years.

Capital Expenditure

Planned Start/End Date
Kouroussa is under construction and advancing towards first gold pour by the end of the second quarter of 2023.

Hummingbird aims to reach commercial and nameplate production in the second half of 2023.

Latest Developments
Hummingbird Resources has announced the start of the hot commissioning phase at the Kouroussa gold mine, with the next step being first gold pour, which is expected in this quarter.

Phase 1 of testing the processing plant’s mechanical, electrical and overall functionality has performed per design, allowing for the next phase – hot commissioning – to begin.

First ore was introduced to the one-million-tonne-a-year plant at Kouroussa on May 20, 2023.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Hunningbird Resources MD corporate development Edward Montgomery, tel +44 20 7409 6660.

Edited by Creamer Media Reporter


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