Hummingbird Resources' Kouroussa gold mine in Guinea resumed operations after a 2-month shutdown due to a payment dispute with contractor Corica.
Hummingbird Resources' Kouroussa gold mine in Guinea resumed operations after a 2-month shutdown due to a payment dispute with contractor Corica. Corica claims a $27m owed payment, while Hummingbird withheld due to underperformance. Production is expected to ramp up in Q3, with Hummingbird's largest shareholder, CIG, providing a $10m short-term loan. Shares increased by 12.3% since resumption.
May 17, 2024
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