Hummingbird Resources PLC Increases Taurus Debt Facility (7672W)

TIDMHUM

RNS Number : 7672W

Hummingbird Resources PLC

14 February 2017

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

14 February 2017

Hummingbird Resources plc ('Hummingbird' or 'the Company')

Increases Taurus Debt Facility

Hummingbird Resources plc (AIM: HUM), announces that, further to the Company's announcement on 6 December 2016 regarding, inter alia, agreement to increase the existing bridge loan in place between the Company and Taurus Funds Management Pty Limited ("Taurus") from US$15 million to US$25 million, these additional funds have now been fully drawn down.

**ENDS**

For further information, please visit www.hummingbirdresources.co.uk or contact:

 
 Daniel Betts          Hummingbird Resources    Tel: +44 (0) 20 
  Thomas Hill           plc                      3416 3560 
  Robert Monro 
--------------------  -----------------------  ---------------- 
 
 James Spinney         Strand Hanson Limited    Tel: +44 (0) 20 
  Ritchie Balmer        Nominated & Financial    7409 3494 
  James Bellman         Adviser 
--------------------  -----------------------  ---------------- 
 
 Jon Belliss           Beaufort Securities      Tel: +44 (0) 20 
                        Limited                  7382 8300 
                        Broker 
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 Lottie Brocklehurst   St Brides Partners       Tel: +44 (0) 20 
  Susie Geliher         Ltd                      7236 1177 
                        Financial PR/IR 
--------------------  -----------------------  ---------------- 
 

About Hummingbird Resources Plc

Notes to Editors

Hummingbird Resources (AIM: HUM) is building a leading gold production, development and exploration company. The Company has two core gold projects, the near-term production Yanfolila Gold Project in Mali and the Dugbe Gold Project in Liberia. It is currently building Yanfolila targeting first production by end of 2017, which has a Probable Reserve of 709,800oz @ 3.14g/t and total Resources of 1.8Moz of gold and an additional 390,700oz of non-compliant exploration potential. The high-grade gold project has low operating costs of US$695/oz AISC with 132,000oz of first full year's production.

The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird with excellent development upside. An optimisation of the DFS is on-going whilst Yanfolila is brought to production in the near-term. Additionally, the Company has 4,000km(2) highly prospective exploration ground in Mali and Liberia and is constantly evaluating new quality assets.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 14, 2017 02:00 ET (07:00 GMT)