Upon receiving all required approvals, the parties expect to enter into a definitive agreement in the fourth quarter of 2024, Pasofino said.
The proposed offer represents a purchase price of $0.66 (or C$0.907) per Pasofino share, which represents an approximate 20% premium on its current trading price of C$0.75 on the TSX Venture Exchange. Its market capitalization is about C$84 million.
Pasofino has been looking to enhance the value of its Dugbe project by securing funding for the various optimization initiatives outlined in its feasibility study in 2022. These include a review of the initial capital cost and operating costs assumed in study and the mine’s energy supply.
Disclosure of the offer, said the company, would allow it to undertake a financing to advance the Dugbe project.
The Dugbe project is situated within the Birimian geological province, which is host to the majority of West African gold deposits. The property…
