15/12/17 – Hummingbird Resources PLC (LON:HUM) said it expects to pour its first gold from the Yanfolila mine in Mali with the processing of ore well underway.
Supply from the pad stockpile is now going through the mill and carbon in leach process plant in order to extract the yellow metal.
Commercial ramp up will begin in the first quarter of next year and the aim is to produce 130,000 ounces of gold.
Impressive free cash flow
Output on that scale is expected to generate free cash of around US$70mln at a gold price of US$1,250 an ounce.
« Ore commissioning represents the final step ahead of first gold production at Yanfolila,” said chief executive Dan Betts.
“Everybody on site is totally focused on a smooth ramp up of the plant as we look to move into the production phase.
“This is a key transitional moment for Hummingbird, transforming the company from a developer to a producer.”
Source: ProActive Investors