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Cenkos: Hummingbird Resources Plc - Reviewing numbers
- Published:
20 Sep 2019 -
Author:
Will Dymott -
Pages:
5 -
We have reviewed our numbers on Hummingbird as production is getting back on track, the second ball mill has been commissioned and the grade is improving. We have maintained our valuation with an increased long-term gold price of $1,400, offset by increased G&A and modelling higher costs than forecast in 2019. We have not added any increase in costs from the pre-strip, or production at Gonka, but neither have we increased production to the 130,000oz for 2021/22.