Hummingbird Resources announces first gold pour at Kouroussa Gold Mine
Hummingbird Resources has announced the successful first gold pour at its Kouroussa Gold Mine in Guinea. This achievement was ahead of the scheduled end of the second quarter of 2023 and was accomplished within the allocated budget.
The commissioning of the Kouroussa mine began in early May 2023, and now that the first gold pour has been achieved, the mine is expected to ramp up its operations for commercial production in the second half of 2023. The Kouroussa Gold Mine is considered a high-grade, low-cost mine and serves as Hummingbird’s second operational gold asset in West Africa.
During the first three years of commercial production, it is projected to produce an average of 120,000 to 140,000 ounces of gold annually. Over the mine’s current lifespan, it is expected to yield an average of 100,000 ounces per year. The all-in sustaining cost (AISC) profile for gold production is estimated to be around $1,000 per ounce.
Goals
Hummingbird Resources plans to provide a more comprehensive update on its group-wide guidance for the fiscal year 2023 once the Kouroussa mine is fully ramped up and operational. This milestone marks a significant achievement for the company, as it transforms Hummingbird into a multi-asset, multi-jurisdiction gold producer. The addition of the Kouroussa mine more than doubles the company’s production profile to over 200,000 ounces per annum.
Dan Betts, the CEO of Hummingbird Resources, expressed his satisfaction with the achievement of the first gold pour at the Kouroussa mine. He emphasized that this marks a major strategic milestone for the company and solidifies its position as a significant gold producer. Betts also acknowledged the efforts of the dedicated Kouroussa project team and construction partners, particularly the African and predominantly Guinean personnel involved. The operations team is now focused on safely ramping up production towards the expected nameplate production in the second half of 2023.
