Hummingbird Resources today posted its first quarter results, in which it revealed that it produced 22,867oz gold, of which 16,999oz came from Yanfolila in Mali and 5,868oz from Kouroussa, Guinea. This is an increase of 18% when compared to the fourth quarter 2023. It possibly would have been higher, had a fire not temporarily disrupted operations at Kouroussa.
AISC of US$1,616/oz in Q1-2024 was down 5% from Q4-2023.
Guidance remains unchanged with guidance of 75,000 - 85,000 oz at AISC below US$1,500 oz.
It added, in the release, that it "continues to work closely with the company's primary lender, Coris Bank International, which remains fully supportive of the business and its current strategy, including surrounding mitigation of the financial impacts of the ongoing contractual dispute with Corica."
Shares were trading at 7.52p/share, up 3.7% on the previous session's price.
Empire Metals, which is developing the Pitfield Project in Western Australia, today reports that, as expected, the analytical lab results from an initial 18 Reverse Circulation drill provides further evidence of extensive high-grade titanium mineralisation within two key target areas.
The two targets, now referred to as the Cosgrove and Thomas sites, form part of a much larger (and never previously-encountered) giant, titanium-enriched mineral system.
Highlights include:
- RC24COS019 intersected 148m @ 6.49% TiO2 from 0m;
- RC24COS018 intersected 148m @ 6.30% TiO2 from 0m;
- RC24COS016 intersected 136m @ 6.08% TiO2 from 12m; and
- RC24TOM015 intersected 154m @ 5.30% TiO2 from 0m;
"What is truly remarkable about this giant mineral system, is that having now drilled a total of 108 holes for 17,035m (including seven diamond core holes for 2,025m) over a 30km strike length, we are yet to encounter any igneous intrusions or significant cross faults that could disrupt and complicate the ore geology," Shaun Bunn, managing director, said.
"Consequently the remarkable continuity of titanium mineralisation and the consistent grades demonstrates just how simple the giant mineral system really is from a geological modelling perspective and it is for this reason we have been able to rapidly progress the project from maiden discovery to establishing exploration targets and commencing process development within the space of 12 months," he added.
Empire shares are at 7.53p/share. It has a market cap of £45.11million.
European Metals Holdings Limited has announce the selection of a new site for the Cinovec Lithium Processing Plant which is anticipated to provide improved permitting and project economics.
The new site selection follows evaluation and preliminary agreement between project company Geomet and the relevant municipal and regional governments to move the lithium processing plant from Dukla to the Prunéřov industrial site.
Prunéřov is the site of the former Prunéřov 1 Power Station, which was decommissioned in 2020 and Prunéřov 2 Power Station. The site is owned and operated by CEZ, the company's project level partner.
Shares in the company were down 6%, at 20p/share. It has a market cap of £41.39million.
