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