By Jaime Llinares Taboada
Hummingbird Resources PLC said Thursday that its total gold reserves have increased after including a maiden open pit reserve of 408,900 ounces for its Kouroussa mine in Guinea.
The London-listed mining company has upgraded gold reserves to 1.12 million ounces from the previous 672,000 ounces statement in October 2019.
The increase is driven by the maiden resource at Kouroussa and by a net increase of 29,700 ounces at the company’s flagship Yanfolila mine in Mali.
Chief Executive Dan Betts said that Hummingbird’s exploration campaigns in 2021 were three times larger than those in 2020, and that it will release a new resource and reserve update in the second quarter of 2022.
Shares at 0849 GMT were up 2.6% at 17.95 pence.
Write to Jaime Llinares Taboada at firstname.lastname@example.org; @JaimeLlinaresT