Modern Mining September 2015

MINING News

Hummingbird Resources, which is devel- oping the 1,8 Moz Yanfolila gold project in Mali, has announced that Taurus Funds Management has extended the US$10 mil- lion bridge facility by a further US$5million for the on-going development work at Yanfolila. Additionally, plant earthworks are now complete ahead of commencing full-scale construction with the first gold pour targeted in 2016. “The extension of the bridge facil- Plant earthworks for Yanfolila completed ity allows Hummingbird to maintain its schedule as we conclude all the necessary technical, financial and legal due diligence prior to first draw on themain facility,”com- ments Dan Betts, CEO of Hummingbird Resources. “This extension demonstrates both Taurus’ continued commitment to the development of the Yanfolila gold proj- ect and their belief in the robust nature of the project at a time when the gold mar-

ket appears to be suffering in confidence. Hummingbird is delighted to be working with such a supportive partner to develop this project. “We have recently completed the plant earthworks which consisted of the exca- vation, landscaping and compaction of over 80 000 cubic metres of earth and we continue to believe that the development of Yanfolila during the downturn will set Hummingbird apart as a cash generative miner offering investors leveraged expo- sure into the gold space.” 

Earthmoving machinery at work at the Yanfolila site in Mali. The plant earthworks have recently been completed (photo: Hummingbird Resources).

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