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 is anticipated to complete by the end of Q1 2018, with ~130,000 ounces of gold targeted for the first full year of production.

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

Timothy Huskinson

Timothy Huskinson
VP Finance

Tim joined the Hummingbird team in April 2011 and has been responsible for implementing the accounting and reporting structures within the Group. In July 2014, he oversaw the integration of the Yanfolila Gold Project companies. Tim qualified as a chartered accountant with BDO LLP in 2009 and has 10 years’ accountancy experience, covering a range of sectors, including natural resource and engineering. He has extensive experience of IFRS and complex international groups, and has taken Hummingbird through exploration, development, and now construction phases. He has an MEng degree with distinction from Nottingham University in Electrical & Electronic Engineering with management studies.

Meet the whole team