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Pasofino Gold Limited
(TSXV: VEIN) (FSE: N071) ("Pasofino" or the "Company") is pleased to announce
that it has entered into an Exclusivity Agreement with ARX Resources Limited
("ARX"). Subject to satisfactory due diligence, an agreement on terms with ARX
and ARX's earn-in right becoming unconditional, the Company intends to acquire
all the issued and outstanding shares of ARX.
Could they made more? Only time will tell and maybe they have a set threshold (of profit, of risk??) and they have reached that and are happy to bank some profit, either way I am not sure that their method is flawed. A bird in the hand and all that!!
Contact the company, emails to HUM2020AGM@Hummingbirdresources.co.uk will hopefully be answered, I sent a question in yesterday regarding cash policy and dividends, not holding my breath but surely the more questions they receive the more likely they are to pick up on the perceptions of PI's.
Time for the shareholders to be rewarded for their patience, looks to me there will be more than enough cash available based on the structure of the deals announced recently. A nice 2p dividend I think would go down nicely.
Not sure it will make much difference but I had an email address or Camarcord so have dropped them an email to ask what PR is planned. From what I can see on the Hummingbird website they are still listed as the PR advisors
so nice to have considerate investors of other company's, but not HUM, coming on to this board and advising us what is wrong with this deal, where would we be without such considerable people!!
Looks like the medium term is being covered with this deal and DUGBE, short term with the LOM drilling and the potential processing of CORA gold through the Yanfolila plant, things beginning to tie together.