Nioko Resources to acquire Hummingbird Resources for £13.8m.

Nioko Resources, a mining company, agreed to acquire Hummingbird Resources, an African gold producer, for £13.8m. "Hummingbird requires a very material amount in equity financing to address the significant issues facing the business as a whole including urgently required remediation to the Kouroussa process plant infrastructure, resolution of contractual disputes, purchase of critical spares and alleviate the substantial creditor overhang to improve operational performance. The Yanfolila mine requires significant investment to improve mining fleet productivity, drilling to derisk the ore body and extend the life of mine and a reduction in overdue creditors to maintain continuity of the provision of service," Geoff Eyre, Hummingbird CEO.