Final results for the year ended 31 May 2011
Published on
Hummingbird Resources plc announces its final results for the year ended 31 May 2011.
Highlights - for the year
· Maiden Resource of 812,000 ounces Au announced in December 2010
· Successful AIM IPO raising US$40m gross proceeds
· Joint venture with Petmin Limited on Mt Ginka licence
· Positive aeromagnetic survey over Mt Ginka iron ore licence completed
Highlights - following the year end
· Resource upgrade to 1,765,000 ounces Au announced in September 2011
· Grade of Indicated Resource increased by approximately 20% to 1.289g/t Au
· Drilling commenced at the Tuzon anomaly, based on strongest trenching results to date
· Petmin Limited increased stake in Mt Ginka to 50% for total investment of US$2m into the joint venture company, Iron Bird Resources Inc
- Programme of trenching, sampling and scout drilling commenced at Mt Ginka
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