By Anthony O. Goriainoff
Hummingbird Resources PLC said Monday that it is evaluating the immediate risks to its supply chain after the Economic Community of West African States imposed sanctions on Mali after its government proposed delaying elections until 2025.
The AIM-listed gold mining company said that although all plans will be made to minimize the potential effect of the situation it was still too early to say how the sanctions may potentially affect its business.
“The sanctions pertain 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 said that its 2021 infill drilling program from 2021 continued to show significant high-grade intervals, and that this has allowed it to strengthen its knowledge base of the Kouroussa gold mine in Guinea.
“We are busy assessing the data, which will be key contributors to the upcoming Resources and Reserves update and will play a pivotal role in Kouroussa’s future mine plans,” the company said.
Shares at 0955 GMT were down 0.85 pence, or 5.9%, at 13.65 pence.
Write to Anthony O. Goriainoff at [email protected]
