- Gold producer Hummingbird Resources said it had completed the acquisition of the Kouroussa gold project, located in Guinea.

The company said it was awaiting to be awarded the mining licence for the project from the Government of Guinea.

Upon being granted the licence, the company would pay the initial consideration of £10m through the issue of 35,248,441 shares in the company at a price of 28.4 pence a share.

'The completion of the acquisition gives us further confidence to advance with these initiatives to bring Kouroussa into production and transform Hummingbird into a multi-asset producing resources company,' the company said.

At 8:05am: [LON:HUM] Hummingbird Resources share price was +0.5p at 36.5p

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