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Hummingbird announces first gold pour at its Kouroussa mine in Guinea

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(Kitco News) - Africa-focused gold producer Hummingbird Resources (AIM: HUM) today announced first gold pour at the Kouroussa gold mine in Guinea on 08 June 2023, ahead of the end of Q2 2023 schedule and on budget. 

In a statement, the company said that commissioning at Kouroussa commenced early May 2023 and having achieved first gold pour, the mine is now expected to ramp up to commercial production during H2 2023.

The Kouroussa gold mine is a high grade, over 4 grammes per tonne, open pit operation, and is the company's second operating gold asset in West Africa.

The mine is expected to produce an average of 120,000 to 140,000 ounces of gold for the first three years of commercial production, and average 100,000 ounces per annum over the current life of mine at an all-in sustaining cost (AISC) profile of c.US$1,000 per ounce.

Hummingbird said that a more detailed update on the company’s FY 2023 guidance to be provided once Kouroussa is ramping up.

CEO Dan Betts commented, "The achievement of first gold pour at our second operating mine, Kouroussa in Guinea, is a major strategic milestone for the Company, transforming Hummingbird into a multi-asset, multi-jurisdiction gold producer, that more than doubles our production profile to 200,000+ oz pa.

“Kouroussa is the second mine Hummingbird has built on time and on budget, made up of a construction team of African and predominately (80%) Guinean personnel. I would like to thank all our dedicated Kouroussa project team and multiple construction partners in achieving this outstanding outcome. Our operations team is now focused on safely ramping up towards name plate production, expected during H2 2023."

Hummingbird currently has two core gold projects, the operational Yanfolila gold mine in Mali, and the Kouroussa gold mine in Guinea, which will more than double current gold production when at commercial production. The company also has a controlling interest in the Dugbe gold project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited.

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