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 .

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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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