https://newsletter.mw.creamermedia.com
Gold|Mining|PROJECT|Resources
Gold|Mining|PROJECT|Resources
gold|mining|project|resources

Pasofino announces capital raise

Dugbe project, in Liberia

Dugbe project, in Liberia

7th October 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:4.857 4.938s - 127pq - 2rq
Subscribe Now