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 […]
Tag: Hummingbird Resources plc
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. 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 […]
Hummingbird completes $25m refinancing
Hummingbird Resources plc this week completed the US$25 million strategic refinancing of a portion of its existing loan facilities with principal financing partner Coris Bank International. KOUROUSSA The company said that the 24-month loan, with an annual 12% interest, would meet its existing loan obligations due in Q2 2024, providing a two-year deferment of “specific […]
Hummingbird positive on Dugbe drill results
Hummingbird Resources plc said it was encouraged by results from diamond core drilling at the Bukon Jedeh ‘gold camp’, part of the Dugbe gold project in southern Liberia. LITHOLOGY Situated 8km southeast of the Tuzon deposit, Bukon Jedeh lies along a 4.1km trend known for its “highly productive artisanal gold mining operations”. The company, which […]
Hummingbird positive on upgrading Yanfolila
Hummingbird Resources plc said that it had positive results from drilling aimed at upgrading inferred resources into the indicated category at its Yanfolila gold mine in southern Mali. MRE During the first quarter, exploration mainly focused on the Sanioumale West North pit and Kabaya South deposits. The company added that Sanioumale West North showed “potential […]
Hummingbird takes over Kouroussa contracts
Hummingbird Resources plc has issued a formal ‘step-in notice’ allowing it to take contractual control of operations, suspended since 17 March, at its Kouroussa mine in Guinea. MINING The company said discussions continued with Corica Mining Services, which stopped work, aimed at returning its main contractor to work and ramp-up operations under the existing mining […]