Pasofino announces capital raise
Aim-listed Hummingbird Resources’ subsidiary Pasofino Gold has launched a private placement to raise $2.5-million for advancing the Dugbe gold project, in Liberia.
The company will also use some of the proceeds for working capital purposes.
The placement involves the issue of up to 4.8-million shares at a price of $0.52 apiece.
Each unit will comprise one common share and one half of a common share purchase warrant, with each full warrant allowing the purchase of a share at C$0.90 within 18 months.
Pasofino expects the private placement to close in October.
Hummingbird says it does not intend to participate in the fundraise but will still retain its majority shareholding, albeit at a reduced stake of 50.4%, compared with 53% currently.
The Dugbe project has a 2.7-million-ounce reserve that can be mined over a 14-year mine life at a low cost profile.
Meanwhile, Pasofino has appointed Brett Richards as a nonexecutive director to the board. He currently holds other board roles at Nickel 28 Capital Corporation, Goldshore Resources and Midnight Sun Mining.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation