Hummingbird Resources plc has increased its debt with a US$5 million unsecured interest-free loan from its major investor CIG SA.
Funds will be used to pay the first instalment to the Government of Mali, where the company owns the Yanfolila gold mine.
The loan has a fixed $2.8mn royalty payable between 1 March 2025 and 28 February 2026.
Following the December $35.6m refinancing and cash buyout offer, Hummingbird’s debt now stands in the region of just over $40m.