HUMMINGBIRD RESOURCES PLC
CORPORATE UPDATE - JULY 2021
DISCLAIMER
These presentation slides have been prepared by, and are the sole responsibility of, the directors of Hummingbird Resources plc ("Hummingbird Resources" or the "Company"). Those directors have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge, information and belief. The information in this document is subject to updating, revision and amendment. This document neither constitutes nor forms nor should be constructed as constituting or forming part of any offer or invitation to sell or any solicitation of any offer to purchase or to subscribe for any securities in Hummingbird Resources or any other body corporate or an invitation or inducement to engage in investment activity under section 21 of the UK Financial Services and Markets Act 2000 nor shall it or any part of it form the basis of or be relied on in connection with any contract therefore. This document does not constitute an invitation to effect any transaction with Hummingbird Resources nor to make use of any services provided by Hummingbird Resources. No reliance may be placed for any purpose whatsoever on the information contained in this document nor on assumptions made as to its completeness. No representation or warranty, express or implied, is given by Hummingbird Resources, any of its subsidiaries or any of its respective advisers, officers, employees or agents, as to the accuracy, fairness or completeness of the information or opinions contained in this document or expressed in the presentation and, no liability is accepted for any such information or opinions (which should not be relied upon) or for any loss howsoever arising, directly or indirectly, from any use of this document or its contents or information expressed in the presentation.
The information and opinions contained in this document and the presentation are provided as the date of this document and the presentation and are subject to change without notice.
This presentation contains forward-looking statements that are based on Hummingbird Resources' current expectations and estimates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and Hummingbird Resources disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.
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Hummingbird Resources Plc: An overview
Strong production base | Multi asset & jurisdiction base | |
100koz - 110koz (2021 guidance) | 1 producing & 2 development assets in 3 | |
West African countries | ||
Strong financials
Growing net cash position.
~US$12.4mln* end Q2 2021 versus ~US$4.9mln end of Q1 2021
Material exploration upside
~US$10mln 2021 budget in Mali & infill drilling commenced and planning in progress for Guinea
Kouroussa Gold Project, Guinea
Finalising capex estimates, financing & key work streams to then begin construction
ESG policy
ESG policy & procedures central to the Company's strategy
Debt free in Q2 2021
Last ~US$4.7mln debt paid during Q2 2021 taking Company into a debt free position
Clear growth strategy
Targeting +200koz from Mali & Guinea in 2023
Dugbe Gold Project, Liberia**
Earn-in partner Pasofino Gold Ltd (TSX:VEIN) PEA pre-tax NPV of US$826mln at 34% IRR
Management expertise
New COO in place to help drive operational improvements at Yanfolila & oversea the Kouroussa project delivery
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Note: * Net-cash including the value of gold inventory as at 30.06.2021 ** Dugbe Gold Project, Liberia mineral resource estimates as of March 2014 and Pasofino Gold Ltd's PEA as released 24 June 2021
2021 outlook: Key deliverable focus areas
- Deliver on 2021 forecasts:
- 100,000 - 110,000 oz of gold (2H weighted), @ AISC of US$1,250 - 1,350/oz gold sold & drive Group profitability
- Increase group life of mine ("LOM") potential:
- Doubling exploration budget to $10 mln to extend Group LOM potential
- Yanfolila, Komana East Underground ("KEUG") development:
- Finalise permitting, drilling and economic analysis to bring into future mine plans
- Kouroussa, Guinea
- Mining licences received. Finalising capex estimates, financing plans and key work streams
- Begin construction in 2H 2021
- Dugbe, Liberia
- Pasofino's high PEA valuation provides the foundation for a significant DFS delivery**
- ESG enhancement
- Continued enhancement of ESG initiatives and increasing the number of mines on the Single Mine Origin ('SMO') platform
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Note: * Net-cash including the value of gold inventory as at 30.06.2021. ** Based on Pasofino Gold Ltd's PEA as released 24 June 2021
Environmental, social & governance: 2021 plans
Environment
- Diversity improvement: Commitment to repair, improve & enhance the diversity environment on and around our mine sites
-
World Gold Council Membership: Commitment to implementation & adhere to the Responsible Gold Mining
Principles ("RGMPs") - Hummingbird Tree Initiative: +8,000 trees per annum and a community lead nursery in operation
- Water: Rehabilitate market garden water infrastructure at local villages
- Tailings storage facilities ("TSF"):
~$US2mln capex upgrade
Social
- Leave a positive legacy for our communities: Committed to building a lasting positive legacy for those living in the communities where we operate
- Community health: New local Dr at clinic
- Market gardens: Adding 2, total to 10, employing +700-900 locals
- Schools: 11 teacher salaries & school maintenance improvements
- Poultry Farms: Adding 2, total to 6, employing >40 locals
- Soap manufacturing: Training on manufacturing & business practices
- Honey initiative: Ongoing training on beehive manufacturing
- Malaria community spraying: Continue our annual community spraying campaign
People & Ethics
- Operate responsibly and ethically: Committed to operating at the highest levels both responsibly and ethically
- World Gold Council RGMP adherence
- High local and region employment: >95% national and >25% local (inc. contractors)
- Local and country supply chain focus
-
The Company is a founding member of
Single Mine Origin ("SMO") www.singlemineorigin.com. Aim to onboard more global mines onto the SMO platform in 2021
HSE
- Zero harm policy: Committed to operating to achieve Zero Harm with every employee, contractor and visitor returning home safely each day
- COVID 19 stringent work practices in place to minimise / eliminate virus spread
- Monthly site safety champion awards
- CCI remote specialist health expertise on sitewww.critcareint.com
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Hummingbird Resources plc published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 12:57:07 UTC.