Project: Yanfolila Gold Mine

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Yanfolila Project
Yanfolila Mining Permit

Yanfolila Gold Mine

The Yanfolila Gold Mine, located in southern Mali, is a low cost, high grade open pit mining operation, which poured first gold in December 2017.Commercial ramp up of gold production was completed in Q1 2018, with ~130,000 ounces of gold targeted for the first full year of production. Currently, focus remains on continually refining and improving Yanfolila into a consistent low cost operation. Meanwhile, Hummingbird also intends to aggressively explore and develop near mine resources to convert resources into reserves and, ultimately, extend the mine life of Yanfolila.

For more information on Yanfolila’s commercial ramp up, please visit our news page for the latest announcements.

Economics

Definitive Feasibility Study

The table below provides the key parameters and results of the Definitive Feasibility Study released by Hummingbird Resources on 18 January 2016 as well as the Optimised New Mine Schedule released 29 February 2016.

Feb 2016 Optimised Mine Plan (US$1,100) Feb 2016 Optimised Mine Plan (US$1,250) Feb 2016 Optimised Mine Plan (US$1,400)
Production Year 1 132,000oz 132,000oz 132,000oz
LoM Production/Year 107,000oz 107,000oz 107,000oz
LoM Grade 2.95g/t 2.95g/t 2.95g/t
Annual Throughput 1.24Mtpa 1.24Mtpa 1.24Mtpa
Project CAPEX US$79m US$79m US$79m
Recovery 92.8% 92.8% 92.8%
All in Sustaining Costs (US$/oz) US$686 US$695 US$701
LoM NPV (8%) US$109m US$162m US$216m
After Tax IRR 42% 60% 77%

Probable Reserves

Tonnes Contained Ounces (Au) Grade (g/t)
Komana East 4,606,000 470,600 3.18
Komana West 2,433,000 239,200 3.06
Total 7,039,000 709,800 3.14

Indicated and Inferred Resources (Inclusive of Reserves)

Tonnes Contained Ounces (Au) Grade (g/t)
JORC 2012 18,654,00 1,587,600 2.64
SAMREC 2009 3,520,000 224,400 1.98
Total 22,165,000 1,812,000 2.54
Net Attributed to Hummingbird (80%) 18,840,250 1,540,200 2.54

Gold Fields 2013 Non Code Compliant Mineral Inventory

Tonnes Contained Ounces (Au) Grade (g/t)
De-Risking Study 6,324,200 390,700 1.92

Team spotlight

David Straker-Smith

David Straker-Smith
Non-Executive Director

David Straker-Smith is a Director of CrossBorder Capital Ltd, which he joined in April 1999. CrossBorder Capital is a London-based investment research and advisory firm regulated by the FCA. Previously, he worked at ING Barings Securities Ltd from 1996 to 1999, where he was Head of Equity Sales for Eastern Europe, and at Gerrard & National Holdings plc from 1980 until 1995, a firm which operated as a discount house, futures broker, money broker, stockbroker and fund manager. During his time at Gerrard & National Holdings plc, he became a main Board Director and active Fund Manager. He is a Director of New Vision Management Limited, a Dublin regulated management company, and a Director of Nomad Energy UK Limited.

Meet the whole team