Aim-listed Hummingbird Resources has informed shareholders that commercial production at its Kouroussa gold mine, in Guinea, will be delayed beyond the targeted first quarter of this year owing to reduced mining activity.
In the meantime, the supporting mining contractor continues to operate, with the processing plant processing this ore, together with stockpiled material.
“Resolution to the current situation will allow the upcoming blast to proceed, which is expected to provide access to higher-grade ore necessary to achieve commercial production,” the company says.
Following the suspension of mining activities by mining services provider Corica Mining Services on March 17 in a dispute over payments, Hummingbird has engaged in discussions with Corica, alternative and additional mining contractors, suppliers and the company’s primary lender Coris Bank International.
Earlier this week, the company’s senior management team met with a number of these key stakeholders in West Africa.
The objective of these discussions was to restart mining operations at Kouroussa as soon as possible and outline a path towards achieving sustainable commercial production levels. Discussions remain ongoing.
While discussions with Corica continue, a supporting mining contractor continues to operate, with the processing plant processing this ore, together with stockpiled material.
“Discussions are focussed on various scenarios and initiatives, with the company confident of reaching a constructive resolution in the near term.
Mining Weekly has reached out to Corica for comment on the dispute with Hummingbird.