Hummingbird Resources plc has secured a binding agreement with its major investors on a new loan extension. SUPPORT The transaction is with CIG SA and Nioko Resources Corporation regarding the new CIG loan. Shareholders voted in favour of converting the CIG US$30 million loan, dated 6 November, into new ordinary shares in a debt-to-equity conversion. The […]
Tag: Dugbe gold project Liberia
Hummingbird investee appoints new CEO
Hummingbird Resources plc’s investee and owner of the Liberian Dugbe gold project has appointed Brett A. Richards as chief executive officer with immediate effect. The company holds a 53% interest in Pasofino Gold Ltd which in September was under a US$75 million offer. Mr Richards has more than 37 years’ mining and metals industry experience […]
Dugbe owner signs $75m acquisition offer
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 […]
Hummingbird increases share in Dugbe owner
Hummingbird Resources plc has increased its holding to 53% in Pasofino Gold Ltd, owner of the Dugbe gold project in south Liberia. MAXIMISATION The company finalised the acquisition in December through a US$2 million investment in Pasofino’s non-brokered private placement, totalling $2.33m, announced today. Funds will be used to optimise the 2022 definitive feasibility study. […]
Hummingbird net group estimates fall
Hummingbird Resources plc net group estimates have fallen compared with last year’s statement for its projects in Guinea, Mali and Liberia. UNTAPPED EXPLORATION Revised group reserves total 4.03 million ounces of gold and group resources of 6.95 Moz, while net figures saw a decrease of 98,000 ounces and 327 Koz respectively. At the Kouroussa gold […]
Hummingbird has strong first half at Yanofila
Hummingbird Resources plc has reversed its fortunes with strong first half production from Yanfolila gold mine in southern Mali. PRODUCTION The company’s Q2 2023 operational and trading report showed an increase to 23,885 oz gold produced in Q2 2023 (Q2 2023: 20,013 oz). Total H1 2023 gold produced reached 51,147 oz (H1 2022: 35,561 oz). […]