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Hummingbird poised to build gold mine - a trigger for share price action?

By Robert Tyerman | Wednesday 22 April 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


West African gold seeker Hummingbird Resources (HUM) says first steps towards construction of a mine at its 1.8 million-oz. Yanfolila project in Mali are ‘imminent’ in the wake of an upbeat project optimisation survey, while chief executive officer Dan Betts argues in the longer term another project, Dugbe in Liberia, promises to be the ‘company maker’. The Yanfolila survey gives the Mali project, which was acquired last year from the Gold Fields group, a net present value of $72.4 million (£49 million) and suggests a 35.1% internal rate of return over 6.5 years at an average gold price of $1,250 an ounce, somewhat above its present price of £1,192.02c.


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