Kouroussa gold project, Guinea – update
Photo by Hummingbird Resources
Name of the Project
Kouroussa gold project.
Location
Siguiri basin, Guinea.
Project Owner/s
Hummingbird Resources.
Project Description
Kouroussa has reserves of 4.86-million tonnes grading 4.15 g/t gold.
The project is forecast to be a high-grade, low-cost mine that will produce an average of 100 000 oz/y over an initial seven-year life-of-mine, with material upside potential through further exploration drilling, which is being planned.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an estimated net present value of $210-million and internal rate of return of 71%, with a payback of two years.
Capital Expenditure
$115-million.
Planned Start/End Date
Hummingbird Resources poured first gold, ahead of schedule and budget, in June 2023.
Latest Developments
Hummingbird Resources aims to reach commercial production at Kouroussa in the first quarter of 2024.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Hunningbird Resources MD corporate development Edward Montgomery, tel +44 20 7409 6660.
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