Hummingbird Resources Studies Risks to Supply Chain From Fresh Sanctions on Mali

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by Anthony O’Goryinoff

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Hummingbird Resources Plc said on Monday it was evaluating immediate risks to its supply chain as its government proposed delaying elections until 2025 after the Economic Community of West African states imposed sanctions on Mali.

The AIM-listed gold mining company said that although all plans will be put in place to mitigate the potential impact of the situation, it is too early to say how the sanctions could potentially affect its business.

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“The restrictions relate to restrictions on the movement of cash, people and goods across borders, into and out of Mali, from the wider ECOWAS region,” the company said.

Hummingbird also noted that the 2021 to 2021 infill drilling program continues to show significant high-grade gaps, and has allowed it to strengthen its knowledge base of the Kourousa gold mine in Guinea.

“We are engaged in assessing the data, which will be a key contributor to upcoming resource and reserve updates and play an important role in Kourousa’s future mine plans,” the company said.

Shares were down 0.85 pence, or 5.9%, at 13.65 pence at 0955 GMT.

Anthony O. Write to Goriainoff at [email protected]

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