Introduction
Mali-focused gold miner Hummingbird Resources (OTCPK:OTCPK:HUMRF) has been searching for a partner with which to develop its stalled Dugbe gold project in Liberia for several years as the project is too large for the company to develop alone. The project has 4.2Moz of resources and the initial capex stood at $212 million.
There had been little development over the past six years but a partner was mentioned in the company’s 2019 results – a non-binding deal with an obscure firm named ARX Resources. The latter was set to acquire Dugbe by investing