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Hummingbird achieves ore commissioning at Yanfolila gold mine

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Hummingbird achieves ore commissioning at Yanfolila gold mine

Hummingbird Resources Plc achieved ore commissioning at its 80%-owned Yanfolila gold mine in Mali, the company said Dec. 15.

The company expects first gold production before the end of this month and commercial ramp-up during the first quarter of 2018.

Output during the first full year of production is expected at about 130,000 ounces of gold, which is forecast to result in about US$70 million of free cash flow at a gold price of US$1,250 per ounce.

The government of Mali owns the remaining 20% of the project.