Hummingbird Resources (HUM.L) plans to release an updated 5 year mine plan within the next few weeks and that new mine plan will be based on the most recent resource at Yanfolila. Hummingbird has now updated its open pit reserves at the several zones that comprise the Yanfolila gold mine in Mali.
The combined proven and probable reserves contain almost 676,000 ounces of gold which is an excellent achievement considering Hummingbord had ‘lost’ just 33,000 ounces of gold in the reserves compared to its pre-production reserve estimate despite having processed ore containing almost 200,000 ounces of gold. The maiden reserves at Gonka and Sanioumale West have contributed to Hummingbird being able to replenish the depleted reserves as these two zones now contain a combined 150,000 ounces of gold at an average grade of in excess of 2.5 g/t gold.
Disclosure: The author has no position in Hummingbird Resources.