Hummingbird Resources plc is scheduled to cease trading on 28 February after its major creditor Nokio Resources Corporation secured 75% or more of the company earlier this year. MINES Cancellation of admission to trading is expected at or shortly after 7am on 3 March 2025, after which the company is intended to re-register as a […]
Tag: Dugbe gold project Liberia
Hummingbird to cease trading
Hummingbird Resources plc will cancel its shares from trading after its major creditor Nioko Resources Corporation secured 75% or more of the company’s issued ordinary share capital. The move follows Hummingbird’s increasing debt, challenges at the Yanfolila gold mine in southern Mali, and delays at Kouroussa in Guinea which placed “significant strain” on its balance […]
Hummingbird secures loan extension
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 […]
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. […]