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Humming along nicely

London-listed Hummingbird Resources this week unveiled an improved mine design at its Yanfolila gold development in Mali and topped up its cash reserves with a £3.5 million (US$7.1 million) placement, reminding miners that funds are still available for low cost projects.

The cost to build the 79,000 ounce per annum mine is just over US$70 million and all-in-sustaining-costs are just $733/oz for an after tax NPV (8%) and IRR of US$72.4 million and 35.