Hummingbird Resources PLC HUMMINGBIRD PROVIDES A STATEMENT ON COVID-19 (6991H)
26 March 2020 - 8:55PM
UK Regulatory
TIDMHUM
RNS Number : 6991H
Hummingbird Resources PLC
26 March 2020
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
Hummingbird Resources plc
("Hummingbird" or the "Company")
HUMMINGBIRD PROVIDES A STATEMENT ON COVID-19
Hummingbird (AIM:HUM) places the safety and wellbeing of its
staff, contractors, service providers and suppliers as an absolute
priority. Hummingbird is following the guidelines provided by the
World Health Organisation ("WHO") in relation to COVID-19 and,
together with its medical business partner, Critical Care
International ("CCI") has access to some of the best advice around
the globe and has activated key procedures and mechanisms across
the business to ensure minimal disruption to operations. Currently
the business continues as normal with no impact on production at
the Yanfolila mine in Mali.
A COVID-19 task force has been established with a robust set of
procedures being implemented at site in order to minimise the
potential impact of COVID-19 where possible. These measures
include, but are not limited to, the movement of people and goods;
hygiene and cleanliness; social distancing and remote working;
isolation procedures in the event of higher risk personnel or
positive cases; community liaison and contingency plans for
potential disruptions including increases of inventory and reagents
where feasible. We are communicating with our key suppliers,
service providers and the Government of Mali all of whom are
committed to maintaining functional operations at Yanfolila.
COVID-19 presents a set of dynamic challenges which the task
force will try to mitigate through daily planning sessions. These
risks primarily involve potential disruptions to logistical
movement, both into and out of the country and to site, of people,
goods, supplies, spares, reagents and the export of gold which may
impact our ability to operate. Mali is a landlocked country and so
is not only subject to whatever regulations its own government
impose but also those imposed on it by others. Currently Mali, like
many other countries in the region, and globally, has temporarily
closed its national borders for civilian travel.
In order to meet the Company's primary objective of ensuring
business continuity for the long-term benefit of all our
stakeholders, the following short term strategic objectives have
been identified with the aim of maintaining production and
cashflows, together with progressing key medium and long term
initiatives for the duration of this unprecedented global
event.
1. Protect and secure the operating environment and local communities;
2. Protect the health, safety and fitness-to-work of everybody working at site;
3. Protect and preserve the supply chain; and
4. Protect and preserve short term liquidity.
Hummingbird has counselled all employees about the symptoms and
procedures being implemented as well as running education sessions
in the surrounding areas to Yanfolila and remains committed to
maintaining operations for the benefit for all stakeholders. The
Group is working closely with national and local authorities and
will be monitoring the situation closely whilst ensuring the safe
operation of the Yanfolila mine.
Despite the content of this announcement, to date Hummingbird
has experienced no adverse impact on its production from COVID-19
and expects Q1 production to be in line with expectations based on
annual guidance.
**ENDS**
For further information please visit
www.hummingbirdresources.co.uk or contact:
Daniel Betts, Hummingbird Resources plc Tel: +44 (0) 20 7409
CEO 6660
Thomas Hill,
FD
Douglas Ross,
IR
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
James Bellman Nominated Adviser
-------------------------- ----------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Ed Montgomery Broker 8000
-------------------------- ----------------------
Gordon Poole Camarco Tel: +44 (0) 20 3 757
Owen Roberts 4980
Ollie Head Financial PR/IR
-------------------------- ----------------------
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a leading gold production,
development and exploration company. The Company has two core gold
projects, the Yanfolila Gold Mine in Mali and the Dugbe Gold
Project in Liberia. Yanfolila produced its first gold pour on time
and budget in December 2017. At 31 October 2019 Yanfolila has a
7.9Mt of Reserve ore @ 2.66 g/t for 676,000ozs gold. At 31 March
2019 Yanfolila had a total Resource base (inclusive of Reserves) of
28Mt of Ore @ 2.23 g/t for 2,005,300ozs gold. The Dugbe Gold
Project has Resources currently totalling 4.2Moz of gold and a
completed NI 43-101 compliant PEA on the project showing a 43% IRR
and US$337m NPV at a US$1,500 gold price.
In addition to Hummingbird's production and development assets,
the Company also has an exploration footprint of 4,000km2 and a
significant shareholder in AIM listed Cora Gold, which is advancing
a portfolio of prospects in Mali and Senegal.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDJFMLTMTATMMM
(END) Dow Jones Newswires
March 26, 2020 05:55 ET (09:55 GMT)
Hummingbird Resources (LSE:HUM)
Historical Stock Chart
From Apr 2024 to May 2024
Hummingbird Resources (LSE:HUM)
Historical Stock Chart
From May 2023 to May 2024