Hummingbird raises funds to advance Mali mine development

West African gold exploration and development company Hummingbird Resources has entered into a subscription agreement to raise £500 000, before expenses, to advance its Yanfolila gold project, in Mali, to near-term production and for working capital purposes.  The Aim-listed company would raise the funds through the placing of 1.51-million new ordinary shares, at 33p apiece, with a long-term shareholder, who is an affiliate of TSX-listed Sprott.