Metals & Minerals News

Dugbe owner signs $75m acquisition offer

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Hummingbird Resources plc said that US$75 million had been offered for its 53% investee company developing the Dugbe gold project in Liberia.

Intend: undertake interim financing to advance the feasibility study (Pixabay)

FINANCING

Pasofino Gold Ltd signed an exclusivity agreement with the potential purchaser, valid until 7 November 2024.

Subject to due diligence and financing, a definitive agreement is expected during the fourth quarter of this year.

Pasofino also aims to undertake interim financing to advance Dugbe’s feasibility study.

Hummingbird has a 53% shareholding in the Canadian company.

The 2022 definitive feasibility study showed that Dugbe has total resources of 4.01Moz gold and total reserves of 2.76 Moz.

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