Name of the Project
Kouroussa gold project.

Location
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
$115-million.

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 poured the first gold at its Kouroussa gold mine, ahead of schedule and budget.

The mine is now expected to ramp up to nameplate production through the second half of 2023.

Kouroussa marks Hummingbird’s second operating gold asset in West Africa, the first being the Yanfolila gold mine, in Mali.

The achievement of the first gold pour at the mine is a major strategic milestone for the company, transforming Hummingbird into a multi-asset, multijurisdiction gold producer with a gold production profile of more than 200 000 oz/y.

Hummingbird is developing an exploration plan for the remainder of the year and 2024 to increase Kouroussa’s current reserve base.

Key Contracts, Suppliers and Consultants
None stated.

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