Despite unexpected challenges at Aim-listed Hummingbird’s Kouroussa gold mine, in Guinea, over the past year, including the fire at the national fuel depot in Conakry and the temporary suspension of operations by contractor Corica Mining Services, operations have fully resumed.

“We anticipate reaching commercial production at Kouroussa in the third quarter. With this progress, the company is well-positioned for significant growth, solidifying our status as a multi-asset, multi-jurisdictional gold producer,” Hummingbird CEO and interim chairperson Daniel Betts said on June 27 in an update on the progress of the ramp-up of mining operations at Kouroussa.

This follows the remobilisation of Corica and comes ahead of the company’s second-quarter operational and trading update, which will be released in late July.

Betts said the company had successfully met its 2023 production and all-in sustaining costs (AISC) guidance at Yanfolila, in Mali, and completed the construction of the second operating mine, Kouroussa, achieving first gold in June last year, a pivotal step towards becoming a major gold producer.

At Yanfolila, Hummingbird produced 83 965 oz of gold at an AISC of $1 331/oz. The company also started the development of the Komana East Underground (KEUG) mine following the completion of mining at the Komana East openpit deposit in the second quarter of 2023.

At Kouroussa, the company completed construction and achieved first gold pour in June last year, with total production of 6 068 oz for the year.

Hummingbird continued to ramp up mining operations throughout the year, with the processing plant performing in line with expectations. The company also further augmented the operational plan originally implemented by Corica, through the engagement of support capacity through additional contractor Etablissement Adama Sidibé (ETASI).

Betts said that, during the year, Hummingbird had also converted its 51% interest in the Dugbe gold project into a 51% interest in TSX-V-listed Pasofino Gold, thereby simplifying the ownership structure. The company then increased its stake in Pasofino to 53% following a $2-million investment in January.

Hummingbird achieved group adjusted earnings before interest, taxes, depreciation and amortisation of about $34.5-million for 2023. It also raised gross proceeds of $28.1-million through a placement and open offer announced in the fourth quarter of last year.

The company achieved a lost-time injury frequency rate of 0.60 per million hours worked, surpassing the target of 1.20.

Community engagement and development were prioritised, Betts said, with significant investments in educational infrastructure, water projects and health initiatives.

Efforts to combat malaria and improve overall wellbeing in the communities surrounding Yanfolila and Kouroussa were launched, while compliance with the World Gold Council's Responsible Gold Mining Principles continued.

A significant achievement at Yanfolila was the successful and timely repatriation of the Sanioumale East (SE) village resettlement, completed on budget and ahead of schedule. This enabled the company to initiate operations on the SE deposit earlier than planned.

In the first quarter of this year, the group produced 22 867 oz of gold, with Yanfolila contributing 16 999 oz and Kouroussa 5 868 oz.

At Yanfolila, the development of the KEUG mine is on track, with first ore expected in the second half of this year and commercial production anticipated later in the year.

Despite steady progress in February and early March, the primary contractor at Kouroussa, Corica, temporarily halted mining operations on March 17.

However, operations resumed in May. Since the restart, significant progress has been made in ramping up mining activities towards commercial production. All four Corica mining fleets are now fully operational, with two support fleets from ETASI integrated into the operations. Ramp-up activities are progressing as planned.

Since resuming operations, about 4 000 oz of gold have been produced at Kouroussa, bringing year-to-date production to about 12 000 oz. Based on the current rate of progress, Hummingbird expects to achieve commercial production at Kouroussa in the third quarter.