Hummingbird raises $3.8m for value adds at Yanfolila

Aim-listed Hummingbird Resources has raised some $3.8-million in a private placing with Fidelity Investments to unlock additional value at its Yanfolila gold project, in Mali. The West Africa-focused gold company placed 11.1-million new ordinary shares in the company at 26 p a share, the proceeds of which will provide Hummingbird the added flexibility of reviewing the potential development of additional near-mine resources as it ramps up to start production at its 2.2-million-ounce-a-year project by the end of 2017.