couples4 wrote:
African Gold talks with Hummingbird cease, LOI dropped
2017-12-12 20:09 ET - News Release
Mr. Stephan Theron reports
AFRICAN GOLD GROUP ANNOUNCES TERMINATION OF NEGOTIATIONS WITH HUMMINGBIRD RESOURCES AND IS EVALUATING ALL LEGAL RIGHTS AND REMEDIES
The binding letter of intent with Hummingbird Resources PLC (HUM) announced on Sept. 27, 2017, has terminated, and all further negotiations regarding the execution of a definitive agreement for a strategic investment by HUM and continuing joint development of African Gold Group Inc.'s Kobada gold project have ceased.
The company is in the process of engaging counsel to evaluate all of its legal rights and potential remedies against HUM stemming from the termination of the binding LOI.
The company continues to work with consultants to compile the historical data at Kobada and Madougou to establish and verify their respective geological models. African Gold Group is in the process of designing an exploration program at both properties, which it intends to release to the market in the coming months.