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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

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