Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Hummingbird Resources gets six months bridge loan extension

The extension will allow more time for the two to put together a finance package for the Yanfolila Gold project in Mali.
Hummingbird Resources gets six months bridge loan extension
Hummingbird wants US$75mln to build the mine in Mali

-- adds broker comment --

Hummingbird Resources (LON:HUM) has extended its US$15m bridge facility with Taurus Mining for another six months to September.

The gold junior said the extension will allow more time for the two to put together a finance package for the Yanfolila Gold project in Mali.

The bridge facility was originally set up in 2014 to be followed later by a full US$75mln financing package.

Additionally engineering consultant SENET has agreed to defer US$1.7m of fees due in April for an additional 12 months.

SENET carried out the process design and engineering study in the recent Definitive Feasibility Study.

Cantor Fitzgerald added that this is clearly positive for Hunningbird's short term financial position.

"Hopefully the company and the potential lender can now take less than 6 months to create a financing package that gets the Yanfolila project built and cash flow generative."

PhilW.jpg
Why Invest In Hummingbird Resources Ltd? Read More Here

Register here to be notified of future HUM Company articles
View full HUM profile

Hummingbird Resources Ltd Timeline

Related Articles

klondex_core.png
April 11 2016
Nevada-focused gold and silver firm Klondex Mines Ltd appears well on its way to becoming the next mid-tier mining company.
shutterstock_242616922.jpg
October 27 2015
The Philippines–based miner expects to produce between 120-130,000oz of gold this year.
Nickel---periodic-table.jpg
April 06 2016
Horizonte Minerals has a commanding position in a major Brazilian nickel district

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.