OTCPK:HUMRF - Post by User
Post by
Monkeydonkeyon Sep 28, 2017 11:25am
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Post# 26753668
50 pct stake in Kobada gold project in Mali
50 pct stake in Kobada gold project in Mali BRIEF-Hummingbird to buy 50 pct stake in Kobada gold project in Mali
- Bron: RTRS
Sept 27 (Reuters) - HUMMINGBIRD RESOURCES PLC HUMR.L : * CONDITIONAL ACQUISITION IN GOLD PROJECT, MALI * CONDITIONAL ACQUISITION OF 50 PCT INTEREST IN KOBADA GOLD PROJECT OWNED BY AFRICAN GOLD GROUP INC * DEAL TO TARGET AN INCREASE IN ANNUAL PRODUCTION AT YANFOLILA BY +45 PCT TO +150,000OZ PER ANNUM * TRANSACTION IS SUBJECT TO CERTAIN CONDITIONS, INCLUDING THAT BINDING AGREEMENTS ARE ENTERED INTO WITHIN 45 DAYS * 120-DAY EXCLUSIVITY PERIOD FOR DUE DILIGENCE * HUMMINGBIRD TO RECEIVE 70 PCT OF CASHFLOWS UNTIL CAPEX RECOVERED * DURING EXCLUSIVITY PERIOD HUMMINGBIRD HAS RIGHT TO INCREASE SHAREHOLDING IN AGG TO 19.2 PCT FOR A FURTHER CONSIDERATION OF CAD$4.4M