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Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Notes that Pasofino Gold Ltd has filed its feasibility study on the Dugbe gold project in Liberia.
Feasibility study shows a 5.0 million tonnes per annum throughput, for a potential mine life of 14 years. There is an average annual production of 200,000 ounces for the first five years, estimated head grade of 1.30 grammes per tonne and post tax net present value at 5% of $524 million.
‘We are excited by the results of the FS and the huge potential of the Dugbe project. As previously highlighted the 2,500km land package along the Dugbe shear zone has huge exploration potential above and beyond this FS. Hummingbird and Pasofino are now working closely together to review the strategic options for the Dugbe project with the goal to realise long-term value for our stakeholders,’ said Chief Executive Officer Dan Betts.
Current stock price: 9.00 pence
12-month change: down 55%
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