Today is part 2 of our audio podcast with our resident blogger @slarratt1 We will be covering #88E #SDX #COPL #HNR #HUM #KRS #NMG #GGP #MTR #SAV #EMH
With a lot of interesting announcements, news updates to follow, we look across the AIM sector to see what has happened since we covered these companies. Plus we look at a new IPO listing from the Oil & Gas sector and what upside they may deliver in the near term future.
Rare earth, Lithium look to be the new hot sectors with the EV sector looking to exploded in the coming decade. We cover the mining stock that looks to be part of this new revolution.
LSE Share Talk catch up with @slarratt1 and we talk about Ferrum Crescent Limited #FRC in this first of a two part audio podcast.
Moonlight Iron Ore Project is highlighted along with #FRC being fully funded ad the Completion of Due Diligence Exercise on GoldQuest and its Lead-Zinc Exploration Projects in Spain
Part two tomorrow will cover #88E # SDX #COPL #HNR #HUM #KRS #NMG #GGP#MTR #SAV #EMH
Founded in late 2005, Hummingbird Resources is a West African gold explorer and developer (AIM:HUM), which listed on AIM in December 2010. Since IPO the Company has significantly grown its initial resource from an initial 0.8Moz to 4.2Moz at its Dugbe Gold Project in Liberia, West Africa and with the acquisition of Gold Fields’ gold assets in Mali, Hummingbird is now a multi-project, near-term producer with a 6Moz gold resource and 4,000 km2 of exploration ground.
Hummingbird’s strategy has always been to create a gold company that has a portfolio of assets encompassing exploration, development and production and the purchase of the Yanfolila Project marks a significant step towards fulfilling that ambition. Gold Fields’ decision to accept Hummingbird shares as consideration for the acquisition underlines the potential of the Yanfolila Project, its portfolio in Liberia and their confidence in Hummingbird’s ability to bring projects into production.
The Yanfolila Project provides Hummingbird with a fast, simple and low cost route to production, and the Company expects to commence gold production in 2017 at an initial gold production rate of 120koz in year one. Hummingbird has acquired an attractive and highly profitable project which can be brought into production within 24 months of acquisition. The project has excellent grade with low capex and opex, and has been acquired at an attractive valuation of $11 per oz of resource.
The Company’s Dugbe Gold Project remains a key focus and the Company published a positive PEA in April 2013 and is currently progressing its Detailed Feasibility Study. Dugbe Gold Project was the first mining project in Liberia to secure investment from the IFC, a member of the World Bank Group.
Bert Monro head of Business Development at Hummingbird PLC speaks to Share Talk about the Placing and Subscription to raise approximately £45.8 million market update. Funds will be used to complete detailed engineering, order long lead items and to commence construction of the Yanfolila Gold Mine with EGM approval.
Dan Betts, Managing Director of Hummingbird Resources, said: “We are now in a position to commence full-scale construction in order to bring Yanfolila, one of the highest margin undeveloped gold projects in Africa, to production. This equity placement enables Hummingbird to move immediately into detailed engineering with a clear timeline to production. The Company will now have a strong balance sheet and is positioned to negotiate the best possible debt terms for our shareholders.
“The Company will now make a number of key hires to strengthen the team. We look forward to making further announcements as we start delivering significant milestones at Yanfolila. Yanfolila will produce over US$70m of free cash flow in its first full year of steady state production.
MEO Australia Limited (“MEO”) (ASX: MEO) advises that the seismic reprocessing and inversion study over the Beehive prospect in WA-488-P (MEO 100%) has now been completed, with very encouraging results. The seismic inversion results have reinforced the interim reprocessing results (see ASX announcement 14 April 2016) and have enhanced the understanding of the Beehive reservoir and seal units, providing additional confidence regarding the nature of the Beehive prospect.
Beehive is potentially a multi-billion barrel, dual objective, oil prone prospect in the Bonaparte Basin located in 40m water depth next to the producing Blacktip field. The Carboniferous age objective is a 180km2 isolated carbonate build up with 400m of mapped vertical relief, analogous to the giant Tengiz field in the Caspian Basin. This play type is new and undrilled in the Bonaparte Basin.
Gervaise Heddle & Paul Johnson talk about the future of Greatland Gold. They explain the road map and how excited they are about the Bromus Project.
The resent appointment of Gervaise Heddle as a Non-Executive Director of Greatland Gold and the expeirance he brings to the company.
Will #GGP consider bringing any new assets on board in the future is answered in this interview