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Pasofino Gold ( (TSE:VEIN) ) has shared an announcement.
Pasofino Gold has received a notice from the Government of Liberia alleging that the company has failed to meet several obligations under its Mineral Development Agreement for the Dugbe Gold Project, including payment and project-activity deadlines, some of which fell during the COVID-19 period. The company plans to meet Liberian officials in January 2026 to clarify the alleged defaults, agree remedial steps and, where necessary, secure funding support from controlling shareholder Mansa Resources to address financial remedies, while working within contractual timelines that give Pasofino a limited window to contest the allegations, cure any breaches and avoid potential termination of the agreement, a process that could materially affect the project’s development path and stakeholder interests but is ultimately backed by consultation and arbitration mechanisms if disputes persist.
More about Pasofino Gold
Pasofino Gold Limited is a Toronto-based mineral exploration and development company focused on advancing the Dugbe Gold Project in southern Liberia, a large-scale gold asset located within the prospective Birimian Supergroup that hosts many of West Africa’s gold deposits. The project currently comprises two main deposits, Dugbe F and Tuzon, with combined measured and indicated resources of 3.3 million ounces of gold and additional inferred resources, and is governed by a long-term mineral development agreement with the Liberian government that sets out tax, royalty and state participation terms.
YTD Price Performance: 18.58%
Average Trading Volume: 112,743
Technical Sentiment Signal: Buy
Current Market Cap: C$101.2M
See more insights into VEIN stock on TipRanks’ Stock Analysis page.