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: Pasofino Gold Ltd
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 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 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 finalises 51% holding of Dugbe partner
Hummingbird Resources plc has completed converting its 51% holding in the Dugbe gold project into a 51% interest in Canadian joint venture partner Pasofino Gold Ltd. STRUCTURE The company said that it now had “clear visibility and control” for more efficient decision-making and project advancement”. The agreement results in Pasofino now owning 100% of Dugbe, […]
Hummingbird partner to take 100% of Dugbe
Hummingbird Resources plc said that its joint venture partner will exercise its right to take 100% ownership of the 2,559 km2 Dugbe gold project in southern Liberia. TERMS The project lies within the southwestern corner of the Birimian Supergroup which hosts most West African gold deposits. Hummingbird identified two deposits of Dugbe F and Tuzon […]