Hummingbird buzzing over Liberian prospect
Hummingbird Resources, the Liberia focused gold explorer, says drilling at its 100% owned Tuzon prospect has produced a maiden inferred resource of 2.05m ounces of gold .
Hummingbird Resources, the Liberia focused gold explorer, says drilling at its 100% owned Tuzon prospect has produced a maiden inferred resource of 2.05m ounces of gold .
The news raises the company's total resources to 3.8 million ounces.
The site lies 2.6 kilometres from another prospect, Dugbe F, and so may be developed as part of the same project.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on the results, the Chief Executive of Hummingbird, Dan Betts, said: "The significance of this maiden resource discovery cannot be underestimated. It marks a seminal moment in the development of our company."
He added: "We now have a tremendous opportunity not just to discover more gold in what we believe to be a world class gold province, but to build Liberia's first multi-million ounce Birimian gold mine."
Shares in Hummingbird had risen by 4% by 11:47am. Over the last 12 months the stock is down 9%.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published