Keystone Law’s corporate and commercial teams are delighted to have assisted AIM listed, Africa-focused gold producer Hummingbird Resources plc on the negotiation and signing of a 25-year Mineral Development Agreement (“MDA”) in Liberia, West Africa.
Led by senior lawyer Richard Temple, the deal involved negotiating the MDA with the Government of Liberia over a land package of approximately 2,000 km2, which includes Hummingbird’s 4.2Moz Dugbe Gold Project.
The Dugbe MDA is the first gold MDA to be negotiated with the Government of Liberia, following a discovery, in over 10 years and represents a huge milestone for both the Government and Hummingbird. The Project is the largest gold project in Liberia and is complemented by an extremely significant and largely unexplored land holding.
Founded in 2005, Hummingbird listed on AIM in 2010 and since then has significantly grown its global resource inventory across Mali and Liberia.
Hummingbird CEO Dan Betts commented on the deal:
“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.”
“I am delighted to have advised Hummingbird Resources plc on this ground-breaking transaction and that the MDA has now been ratified by the Government of Liberia and passed into law.”