Hummingbird Resources Secures US$5 Million Loan to Support Mali Operations

Hummingbird Resources ( (GB:HUM) ) has issued an announcement.

Hummingbird Resources has entered into a US$5 million unsecured, interest-free loan facility with CIG SA to meet financial obligations related to a payment to the Mali Government. The loan, which includes a fixed US$2.8 million royalty payable over a year, offers repayment flexibility and reflects the company’s strategy for long-term growth and stability. This transaction, deemed a related party transaction under AIM rules, is considered fair and reasonable for shareholders by the company’s independent directors.

More about Hummingbird Resources

Hummingbird Resources PLC is a leading multi-asset, multi-jurisdiction gold producing company, and a member of the World Gold Council. It operates the Yanfolila Gold Mine in Mali and the Kouroussa Gold Mine in Guinea, and has a controlling interest in the Dugbe Gold Project in Liberia. The company is focused on growing its asset base and producing profitable gold ounces, with a strong emphasis on Environmental, Social & Governance (ESG) policies.

YTD Price Performance: 18.18%

Average Trading Volume: 5,211,465

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £43.53M

For detailed information about HUM stock, go to TipRanks’ Stock Analysis page.