1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Hummingbird Resources PLC
  6. News
  7. Summary
    HUM   GB00B60BWY28


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Sanctions-hit Mali facing isolation as neighbors cancel flights

01/10/2022 | 08:50am EDT
An Air France Airbus A330 airplane takes off from Paris Charles de Gaulle airport near Paris

PARIS/BAMAKO, Jan 10 (Reuters) - Airlines from neighboring countries and former colonial ruler France canceled flights to Mali on Monday, helping isolate a military junta under regional sanctions for trying to extend its hold on power.

The Economic Community of West African States (ECOWAS), on Sunday agreed https://www.reuters.com/world/africa/mali-eyes-elections-four-years-west-african-bloc-mulls-sanctions-2022-01-09 a raft of restrictions against Mali, including the suspension of financial transactions, over the interim authorities' failure to hold democratic elections next month as agreed after a 2020 military coup.

Neighbors also said they would close road and air borders. Ivory Coast's national carrier Air Cote d'Ivoire halted flights to the Malian capital Bamako on Monday. Flights from Senegal were also disrupted, according to a Reuters reporter trying to enter Mali.

Air France had also canceled flights, an airline spokesperson said, because of security risks, without providing further detail. The head of Mali's airports, Lassina Togola, said in a statement that Air France flights on Monday were canceled but not suspended long term.

Assimi Goita, Mali's current leader and one of several colonels who overthrew President Boubacar Ibrahim Keita in August 2020, called for calm in a statement on Monday, adding that Mali had the means to withstand the latest sanctions.

Goita, who staged a second coup in May 2021 when he pushed aside the interim president to take the job for himself, said that his government remains open to further negotiations with the regional bloc.

Another military spokesperson had previously condemned the sanctions as illegal and illegitimate.

This is the toughest stance ECOWAS has taken on Mali since it implemented similar measures in the immediate aftermath of President Boubacar Ibrahim Keita's ouster in August 2020.

Those sanctions, which caused a sharp drop in imports to the landlocked country, were lifted inside two months after the authorities promised an 18-month transition to civilian rule.

Guinea's transitional authorities said on Monday that they were not associated with ECOWAS's decision to sanction Mali, and that their shared border will remain open. The bloc suspended Guinea's membership in September after its own military coup.


The bloc hopes renewed economic pressure, including cutting Mali off from regional financial markets and trade of non-essential goods, will push Bamako to rethink the latest proposal to delay presidential and legislative elections to December 2025 - nearly four years after they were supposed to be held.

The Malian government has promised it will try to ensure a normal supply of goods to the public, but sanctions are likely to further hobble the economy in one of the world's poorest countries where an Islamist insurgency rages, fueled in part by widespread poverty.

Barrick Gold, which owns Mali's biggest gold mine complex Loulo-Gounkoto, said on Monday its mines in the country have "thus far not been affected" by the ECOWAS sanctions.

Gold miners Hummingbird Resources and Cora , which also have operations in Mali, said they were monitoring the situation in the wake of the sanctions decision.

Washington on Monday said it backed the sanctions move and shared concerns over the likely destabilizing impact of Russia-backed Wagner group forces.

"The United States commends the strong actions taken by the Economic Community of West African States (ECOWAS) in defense of democracy and stability in Mali," State Department spokesperson Ned Price said in a statement.

Mali's political upheaval has deepened tensions with France, which has thousands of soldiers deployed across West Africa's Sahel region to battle the insurgents.

For now, some residents in Bamako shrugged off the sanctions, saying they supported the government's strategy. "We cannot be independent without suffering, we have to accept suffering," said electronics store owner Aboubacar Yalcouye. (Reporting by Sudip Kar-Gupta, Tiemoko Diallo and Idrissa Sangare Additional reporting by Cheick Diouara, Fadimata Kontao, Helen Reid and Costas Pitas; Writing by Sudip Kar-Gupta and Alessandra Prentice, Editing by Edward McAllister, William Maclean, Grant McCool and Sandra Maler)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 2.31% 4.251 Real-time Quote.7.34%
BARRICK GOLD CORPORATION 4.36% 26.56 Delayed Quote.5.82%
CORA GOLD LIMITED -2.07% 7.1 Delayed Quote.-22.87%
GOLD 0.03% 1842.48 Delayed Quote.-0.81%
HUMMINGBIRD RESOURCES PLC -1.89% 13 Delayed Quote.-8.62%
OUSTER, INC. -0.40% 2.46 Delayed Quote.-52.50%
S&P GSCI GOLD INDEX -0.03% 1075.51 Real-time Quote.-0.18%
SILVER 0.07% 21.901 Delayed Quote.-7.20%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.01% 62.1099 Delayed Quote.-14.26%
05/09HUMMINGBIRD RESOURCES : Corporate Presentation Update
04/25Hummingbird Resources plc Provides Production Guidance for the Year 2022
04/06Hummingbird Resources PLC Provides Update on Kouroussa Gold Mine
03/10Mali forecasts industrial gold production of 64.1 T in 2022
03/02Hummingbird Resources PLC Provides Kouroussa Drilling Update
02/09Hummingbird Resources plc Provides updates on Completed 2021 Exploration Drilling Progr..
02/03HUMMINGBIRD RESOURCES : Corporate Presentation Update
01/31Hummingbird Resources PLC Reports Sales Results for the Fourth Quarter of 2021
01/31Hummingbird Resources PLC Provides Production Guidance for the Year 2022
01/31Hummingbird Resources PLC Reports Production Results for the Fourth Quarter of 2021
More news
Financials (USD)
Sales 2021 160 M - -
Net income 2021 -12,0 M - -
Net Debt 2021 26,0 M - -
P/E ratio 2021 -5,48x
Yield 2021 -
Capitalization 65,2 M 65,2 M -
EV / Sales 2021 0,57x
EV / Sales 2022 0,94x
Nbr of Employees 534
Free-Float 76,6%
Duration : Period :
Hummingbird Resources PLC Technical Analysis Chart | HUM | GB00B60BWY28 | MarketScreener
Technical analysis trends HUMMINGBIRD RESOURCES PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 2
Last Close Price 13,25 GBX
Average target price 14,50 GBX
Spread / Average Target 9,43%
EPS Revisions
Managers and Directors
Daniel Edward Betts Chief Executive Officer, Executive Director & MD
Thomas Rowland Hill Finance Director, Secretary & Executive Director
Russell John King Non-Executive Chairman
Anthony P. Kocken Chief Operating Officer
Saidou Idé General Manager-Finance & Administration
Sector and Competitors