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Hummingbird Resources’ Monro on new plan for Yanfolila mine

The head of business development at Hummingbird Resources (LON:HUM), Bert Monro, explains how improvements at the Yanfolila gold project in Mali will see more gold being produced from two pits than the five initially planned.

Work since a recent optimisation study means the West African focused miner is now concentrating on a two pit mine plan at Komana East and West to smooth out the process in early years of debt repayment.

Yanfolila is fully funded, subject to the completion of the US$75mln debt package provided by Taurus, which Hummingbird will continue to draw down.

Munro says the other three pits will be brought into the mine plan in due course, further extending the mine life and increasing production.

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Price: 21.5 GBX

LSE:HUM
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Market Cap: £76.85 m
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