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Hummingbird Resources ( (GB:HUM) ) has issued an announcement.
Hummingbird Resources announced that its shareholders approved the conversion of a US$30 million loan from CIG SA into new ordinary shares of the company. This debt-to-equity conversion will result in Nioko Resources Corporation holding a significant share of the company, potentially increasing to 71.8%, subject to regulatory approvals. This move is expected to impact Hummingbird’s operations and market position by altering its shareholding structure, with implications for its assets in Mali, Guinea, and Liberia.
More about Hummingbird Resources
Hummingbird Resources plc is a leading multi-asset, multi-jurisdiction gold producing company, a member of the World Gold Council, and a founding member of Single Mine Origin. The company operates the Yanfolila Gold Mine in Mali and the Kouroussa Gold Mine in Guinea, and holds a controlling interest in the Dugbe Gold Project in Liberia. The company’s focus is on growing its asset base and producing profitable ounces while adhering to its Environmental, Social & Governance policies.
YTD Price Performance: -78.54%
Average Trading Volume: 4,144,181
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £17.85M
Find detailed analytics on HUM stock on TipRanks’ Stock Analysis page.
