HUMMINGBIRD Resources sold 38,726 ounces of gold in the second quarter – the first full quarter of production at the firm’s recently commissioned southern Mali mine, Yanfolila – and said it was also focusing on extending the life of the mine.
“The team is running the mine exceptionally well and it is pleasing to see our successful emergence as a commercial gold producer,” said Dan Betts, CEO of Hummingbird Resources in a statement today. “Our next focus is to prove that we can extend the mine life of Yanfolila by converting resources to reserves through the group’s exploration campaign, which is underway,” he said.
Some 33,101 oz of gold was poured in the quarter at an all-in sustaining cost of $790/oz. The gold was mined at an average grade of 3.43 grams per tonne. The gold was sold at an average price of $1,307/oz.
“It’s been our first full quarter of commercial production at Yanfolila and we have delivered on forecast with high grades and strong recoveries coming through the plant,” said Betts. As of June 30, the company had cash of $46.2m and net debt of $15.6m.