Pasofino Gold ( (TSE:VEIN) ) has shared an announcement.
Pasofino Gold Limited has entered into a Co-operation Agreement with its major shareholder, Hummingbird Resources PLC, and Nioko Resources Corporation. This agreement involves reconstituting the board, terminating the shareholder rights plan, and planning to raise funds for the Dugbe Gold Project’s feasibility study and pre-construction activities. The agreement also includes strategic decisions regarding the project’s financing and potential production, with Hummingbird agreeing to a standstill period to support Pasofino’s management. Additionally, a proposal has been made concerning a potential termination fee related to a royalty deed, with Hummingbird-Nioko agreeing to cover the fee if necessary.
More about Pasofino Gold
Pasofino Gold Limited is a company operating in the mining industry, focusing on gold exploration and development. The company is primarily involved in advancing the Dugbe Gold Project in Liberia, aiming to enhance its feasibility and prepare for construction activities.
YTD Price Performance: 2.05%
Average Trading Volume: 2,552
Technical Sentiment Signal: Hold
Current Market Cap: $45.99M
For a thorough assessment of VEIN stock, go to TipRanks’ Stock Analysis page.