Coris Bank Boosts Hummingbird Resources with $25mln for Yanfolila Gold Mine
Monday, 19 August 2024 17:49
Coris Bank continues to be a major financial partner for West Africa's gold mining sector, having previously supported the construction of the Kiaka and Kouroussa gold mines in Guinea. The bank has now renewed its support for Hummingbird Resources, which owns the Yanfolila gold mine in Mali.
Hummingbird Resources announced today it has received an additional $25 million from Coris Bank. This new financing arrangement has a term of 24 months and an annual interest rate of 12%.
Dan Betts, CEO of Hummingbird Resources, described the refinancing as a significant step in enhancing the company’s financial resilience. He also expressed appreciation for Coris Bank's ongoing support and constructive relationship, which has been crucial in overcoming recent challenges and fostering Hummingbird’s growth.
Coris Bank remains one of the leading financial partners for gold mines in West Africa. Earlier this year, the bank, led by Idrissa Nassa, was involved in fundraising for the Kiaka gold mine and the expansion of the Bomboré gold mine in Burkina Faso.
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