Hummingbird may start to sing after it snaps up Mali mine

By Joanne Hart, Financial Mail

Prospect: The jungle-bound Liberia gold mine stands to benefit from funds generated by the Mali site
Prospect: The jungle-bound Liberia gold mine stands to benefit from funds generated by the Mali site

The Betts family has been in the gold industry for 250 years. Based in Birmingham, they smelt gold, refine it and produce bars, coins, jewellery, and even alloys for dental crowns. Just over ten years ago, Dan Betts, then aged 31, decided to go back to the source, when he founded Hummingbird Resources, a gold explorer with a huge mine in Liberia.

Hummingbird listed on AIM in 2010 at 167p and Midas recommended the stock in March 2011, by which time the shares had fallen to 147½p. Today, the price is just 22½p.

The company has been hit by factors both general and specific. Between 2011 and January this year, the gold price plunged from more than $1,800 (£1,365) to just over $1,000 an ounce.

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SOURCES: News Now/Daily Mail

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About Cholo Brooks 13208 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.