Extractive Industries

Dugbe gold project draws third-party interest

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.

Objective: to sign a definitive acquisition agreement during Q4 2024 (Pixabay)

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.

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