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Head Office Building 12, Greenstone Hill Office Park Emerald Boulevard, Greenstone, Modderfontein, Gauteng,
1609, RSA| o o
GPS Coordinates: 26 07’08.39”S 28 08’49.66”E
www.senet.co.za T. +27 (0) 11 409 1300
senet@senet.co.za
With the  nancing in place the next key step was for Betts to form the right team to take the project through the crucial construction stage and into production. Hummingbird has implemented a structure of divisional VPs responsible for speci c sections of the project overseen by senior VP for project delivery Shaun Bunn.
The vastly experienced Wayne Galea is
in charge of managing the engineering, procurement & construction management contract, former British Army o cer William Cook is taking on operations management, David Hebditch is on board to run the safety, health, environment and community considerations and Murray Paterson is the chief geologist.
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Hummingbird announced a $71 million equity raise from markets in London and
the US which serves as a re ection of the potential of the project and the con dence in the team.
On the back of that the company reengaged with its lender Taurus Funds Management to restructure the loan deal, reducing the total loan amount and in February of this year
the Government of Mali paid $11 million to increase its stake in the project to 20%.
“[The raise] was a catalyst, it recapitalised Hummingbird and allowed us to commit to construction at Yanfolila,” explains Betts. “We are fully funded and that is a major step forward from where we were last year. It means we are building the gold mine and also on all sorts of operational levels the progress has been monumental.”
The team
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