Corica restarts mining services at Kouroussa

Hummingbird Resources has remobilised Corica Mining Services at the Kouroussa gold mine in Guinea following the suspension of work on 17 March as a result of various contractual disputes.

CIG SA, Hummingbird’s largest shareholder, has agreed to provide a US$10 million loan in order to ensure continuity of operations during this re-ramping up phase of mining operations.

“The agreement to remobilise Corica at Kouroussa demonstrates a commitment from both parties in finding a practical solution to the ongoing disputes. I am hopeful that this provides the framework for constructive discussions to resolve and re-base our relationship with Corica,” said Hummingbird Resources CEO Dan Betts.

“Our ongoing discussions with Coris, together with CIG’s support, provide us with a platform to enable a smooth transition back to full operations at Kouroussa. Corica’s return to work will allow Hummingbird to increase the mining of the higher-grade material and accelerate our plans to reach our 200,000 ounces per annum production profile over the coming months. The momentum this brings reiterates our confidence in the strong future ahead for the Kouroussa project.”

Kouroussa, which is located in the Siguiri Basin, achieved first gold pour on 8 June 2023 and is expected to produce an average of 120,000-140,000 oz. of gold for the first three years of commercial production.

Source: Hummingbird Resources

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