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Hummingbird Resources PLC - gold miner with operations in Mali, Guinea and Liberia - Signs a $35.6 million loan agreement with Nioko Resources Corp to address financial pressures and support its Malian subsidiary, Societe des Mines de Komana SA. The loan, carrying 9% annual interest, is repayable by December 31, 2025. Independent directors, excluding Oumar Toguyeni and Geoff Eyre, deemed the agreement ‘fair and reasonable’ for shareholders. Interim Chief Executive Officer Geoff Eyre said the refinancing is a ‘critical step to enable the company to secure funding to alleviate Hummingbird’s immediate financial needs’. Current stock price: 2.30 pence, closed up 1.8% on Tuesday in London 12-month change: down 78% Copyright 2024 Alliance News Ltd. All Rights reserved.
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