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172 GOLD | Hummingbird Resources Hummingbird Resources has been very busy since last speaking to ABN in February 2016. The AIM-listed firm has made substantial steps in advancing the low cost, high grade Yanfolila gold project in Mali. The mine is expected to
be pouring the first gold by the end of 2017, a new team for construction and production has been put in place, the project
is fully funded thanks to some strategic raises in the last year from different sources and the construction process is firmly underway. Hummingbird CEO Daniel Betts says the project is delivering as per the plan and expects the mine to be completed on time and on budget.
Hummingbird delivered a de nitive feasibility study on Yanfolila in January 2016, followed up by the optimised new mine schedule, which outlined a mining plan of 132,000 ounces gold production in the  rst year and life of mine production
at 107,000oz p/a. The AISC remains low at US$695/oz and the after-tax IRR sits at 60% at a US$1,250 gold price.
Over the last year Hummingbird has been able to secure ample  nance to fully fund Yanfolila and that has been a major achievement in terms of commencing construction in Mali. In June 2016,

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