Hummingbird Resources plc said that two non-binding expressions of interest had been submitted to acquire its 53% owned investee developing the Dugbe gold project in Liberia.
DISCUSSIONS
Operator Pasofino Gold Ltd is currently conducting a strategic review aimed at securing financing to advance a definitive feasibility study.
The Canadian company is also in discussions with several interested parties and has hosted a site visit.
Following due diligence, Pasofino and a third party aim to enter into a letter of intent/exclusivity agreement by the end of the third quarter and sign a definitive acquisition agreement in Q4 2024.
Hummingbird added that there was no certainty of a binding transaction.
Dugbe, comprising three mineral-rich discoveries of Dugbe F, Tuzon and Sackor, is the “largest discovery of gold” in Liberia.