Hummingbird Resources Consultant Achieves Funding In South Africa

LONDON (Alliance News) - Hummingbird Resources PLC Thursday said that MDM Engineering, its definitive feasibility study consultant, has received approval from the South African Department of Trade and Industry for a grant to support its work with Hummingbird.

The Liberian gold exploration and development company said it expects to benefit from a 55% reduction in the cost of its DFS and feed work completed by MDM as a result of the funding.

The company said in October that it is fully funded through to the completion of its definitive feasibility study, which is due for completion at the end of its third quarter in 2014.

Hummingbird Resources shares were up 3.8% to 43.60 pence Thursday.

Source: Alliance News