Hummingbird reports gold production decline in Mali due to 'underperformance' by mining contractor
(Kitco News) - West Africa - focused goldminer Hummingbird Resources (AIM: HUM) announced today that it poured 22,102 ozof gold at its Yanfolila gold mine in Mali in Q3 2021, a decrease of 11%compared to 24,722 oz poured in Q3 2020.
The company said that goldproduction at Yanfolila in third quarter was impacted by mining contractorexcavator equipment availability in September.
"Mitigation measures arebeing implemented with our mining contractor in order to bring mining volumesback to contracted levels," the company said in its statement.
Importantly, the companypointed out that construction of the Kouroussa gold mine in Guinea is scheduledto commence this current quarter, with first gold pour scheduled for the end ofQ2 2023.
CEO Dan Betts commented, "Beyondthe challenges faced during the quarter from underperformance by our contractminer, the company has seen a number of operational improvements across theboard as we continue to build our business. We look forward to updating themarket over the coming months with further developments as we execute on ourgrowth strategy."
Hummingbird Resourcescurrently has two core gold projects, the Yanfolila gold mine in Mali and therecently acquired Kouroussa gold project in Guinea. Further, the company has acontrolling interest in the Dugbe gold project in Liberia that is beingdeveloped by Pasofino Gold through an earn-in agreement.
By Vladimir BasovFor Kitco News
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