AIM-listed Hummingbird Resources announced that in line with the imminent commencement of production from its Yanfolila gold mine in Mali (Yanfolila), the company will be producing pure gold coins, the 1 oz Hummingbird.
Each coin will be crafted from 1 oz pure gold from the Yanfolila mine.
The company intends to commence sales in Q1 2018, with first delivery of coins targeted by end of H1 2018.
Full terms and conditions will be circulated in due course when the coins are officially for sale.
The 1oz Hummingbird will be part of a collection of seven coins to be launched officially in 2018.
In line with equator principles, each coin will seek to exemplify Hummingbird’s commitment to quality and best practice; for every ounce of gold Hummingbird produces from Yanfolila mine, the company will be investing in its community-based projects across West Africa.
The construction of the Yanfolila process plant and associated infrastructure remain on budget and schedule with commissioning anticipated in Q4, 2017.
Yanfolila is forecast to produce 132 000 oz in its first full year of production at a LoM AISC of US$695/oz.
The average production at Yanfolila is 107 000 oz/year over the LoM, in tandem with exploration and development initiatives, will expand the current mine plan.
The 1 oz Hummingbird is intended to be a collectible coin minted with the portrait of Musa I of Mali, the richest man in history.
The collection will comprise of six other coins representing Hummingbird’s industry, journey and company values: explore; develop; mine; produce; community; and conserve.
Full sets of seven coins will be presented in a commemorative box and all coins will be priced based on the spot gold price at the time of purchase.
Hummingbird is prepared to purchase any sold coins directly back from the customer for 98% of the spot gold price at the time of the re-purchase.
If you are interested in purchasing a coin or the collection, please register your interest as soon as possible at http://hummingbirdresources.co.uk/coins.
Feature image credit: Hummingbird Resources