Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Hummingbird Resources maintained its annual production target after reporting an increase in output in the second quarter thanks to higher production at its Yanfolila gold mine.
In the three months through June, the company reported 27,466 ounces of gold poured, a 15% increase on last quarter's 23,807 ounces as the company addressed issues that had previously kept a lid on production.
The issues previously communicated which adversely affected production in Q1 have largely been addressed and this has translated into an improved production profile; April saw 7,582 ozs produced with May and June returning to circa. 10,000 ozs/month mark,' the company said.
The company sold 27,701 ounces of gold at an average price of US$1,311 per ounce.
The company maintained its target to produce 110,000 to 125,000 ounces, with increased plant throughput in the second half of the year.
At 8:39am: (LON:HUM) Hummingbird Resources share price was +0.5p at 22p