Hummingbird Resources (LON:HUM) has topped up its bank balance through a £500,000 placing with Canadian resource investor Sprott.
Shares were placed at 33p per share, a slight discount to yesterday’s close with the money going towards working capital for the Yanfolila gold project in Mali.
Dan Betts, Hummingbird’s chief executive, said: "Sprott is a long term shareholder in Hummingbird and we are delighted that following a recent site visit they are supporting the company in this placing.
First gold pouring at Yanfolila is predicted for the first half of next year.