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26 Oct 2018 | 14:50

Hummingbird Resources gold output falls 33% after heavy rains

Hummingbird Resources poured 33% less gold in the third quarter after production was disrupted by an unusually heavy rainy season.

For the three months through September fell to 22,206 ounces, the company said.

'As previously guided, the quarter was always going to be softer in terms of mining and processing levels given the rainy season, which has been unusually heavy,' chief executive Dan Betts said.

'The company produced 22,206 ounces of gold taking total year to date production to 74,092 ounces of gold.'

'The 2018 exploration programme delivered early, positive results that we expect in time to benefit the mine life by resources to reserves.'

'The rainy season and associated flooding has also had an impact on the public bridge, which is over 35km away from the mine, along the only route into site; this situation has therefore caused supplies to be double handled and means that the mine is restricted in its ability to mobilise heavy equipment to site which would have the capacity to speed up any remediation work needed.'

'We are currently working on a number of solutions to this situation.'

At 2:50pm: (LON:HUM) Hummingbird Resources share price was -0.25p at 19p

Story provided by StockMarketWire.com
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