Hummingbird plans AIM Float

03 December 2010
Hummingbird plans AIM Float

Plans to raise £25m, valuing company at £77m

Members of a Birmingham family active in the Jewellery Quarter gold trade since 1760 are hoping to raise £25 million when they float their Liberian gold-mining offshoot this month. Independent experts have vouched that Hockley-based exploration firm Hummingbird Resources, part of the historic bullion firm Stephen Betts Group, is sitting on potential gold resources which could be worth more than $1 billion in the West African country.

The firm is the biggest holder of licences in untapped areas of the jungle in eastern Liberia, part of a geological zone which makes up one of the richest gold mining areas in the world. It is now planning to list on AIM to raise capital for further exploration on December 10, and the flotation is set to value the firm at at least £77 million.

Read Graeme Browns's full article in the Birmingham Post by clicking here