16th Dec 2024 19:57
Hummingbird Resources PLC - gold miner with operations in Mali, Guinea and Liberia - Agrees GBP13.8 million cash takeover from Nioko Resources Corp. Nioko offers 2.6777 pence per Hummingbird share. Nioko is a wholly-owned subsidiary of CIG. Hummingbird agrees that USD30 million outstanding under the new CIG loan will be converted, in two tranches, into ordinary shares in Hummingbird. The conversion would increase Nioko's voting rights to around 50% from 42%, and thereafter to around 72%. Hummingbird says will need to work with its creditors to restructure some USD140 million in debt. Read More
