Aim-listed Hummingbird Resources and the Liberian government have signed a 25-year mineral development agreement (MDA) that paves the way for the development of Hummingbird's 4.2-million-ounce Dugbe gold project.
The MDA has also been ratified by the Liberian Legislature, approved into law by the country's President George Weah and published in handbills, bringing it into effect.
“The completion of the MDA is an important milestone for Hummingbird and Liberia. Hummingbird, with this agreement in place, can now look towards taking the next steps at Dugbe in the best interests of all stakeholders," Hummingbird CEO Dan Betts said in a statement issued this week.