Latest news with #BrettRichards
Globe and Mail
08-07-2025
- Business
- Globe and Mail
Pasofino Gold: Advancing a High-Grade Discovery in Liberia
Focused on Responsible Development and Strong Economics in West Africa Pasofino Gold is gaining attention for its promising gold project in Liberia—an emerging mining jurisdiction with historical significance. CEO Brett Richards, a veteran in African mining operations, highlights Liberia as one of the best environments he's worked in across a decades-long career. With 3.9 million ounces in measured and indicated gold resources at an average grade of 1.37 g/t, the company is now focused on updating its 2022 feasibility study while exploring financing options to transition to construction. The project is scoped for a 5-million-tonne-per-year operation, aiming for an average annual production of 171,000 ounces over a 14-year mine life, peaking at 200,000 ounces in its early years. Richards notes strong economics—with operating costs near $1,005/oz and a post-tax NPV four times its capital cost—creating a potential for $300–$400 million in annual free cash flow at full production. As Pasofino finalizes technical and financial planning, it continues to optimize its approach to benefit both investors and local stakeholders. Published by BTV - The Agency
Yahoo
25-06-2025
- Business
- Yahoo
CEO.CA's Inside the Boardroom: Two Gold CEOs Counter West Africa Mining Skepticism with Liberia's Democratic Stability
Toronto, Ontario--(Newsfile Corp. - June 25, 2025) - (" the leading investor social network in junior resource and venture stocks, shares exclusive updates with CEOs of junior mining explorers. Founded in 2012, a wholly owned subsidiary of EarthLabs, Inc., is one of the most popular free financial websites and apps in Canada and for investors globally - with industry leading audience engagement and mobile functionality. Millions of people visit each year to connect with investors from around the world, share knowledge and view impactful stories about stocks, commodities, and emerging companies. Meet the Executives Shaping the Mining Landscape 'Inside the Boardroom' is more than just an interview series - it's a chance to gain firsthand knowledge from industry leaders, understanding their vision, challenges, and strategy. We caught up with David Kol, CEO of Zodiac Gold Inc. (TSXV: ZAU) and Brett Richards, CEO of Pasofino Gold Ltd. (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) on why Liberia represents a compelling opportunity in West Africa's gold sector as neighboring countries embrace resource nationalism. Kol provides details on advancing the Todi Project through five targets, while Richards outlines updating the Dugbe feasibility study and timeline to production in this underexplored West African jurisdiction. Zodiac Gold (TSXV: ZAU) AND Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) Cannot view this video? Visit: Tune in to 'Inside the Boardroom' each week and be part of the conversation that's shaping the business landscape. Visit or our YouTube page for hundreds more executive interviews from here. Interested in showcasing your company on 'Inside the Boardroom'? Get in touch with our team at sales@ for further details and opportunities. About The leading community for investors & traders in junior resource & venture stocks. is one of the most popular free financial websites and apps in Canada and for small-cap investors globally -- with industry leading audience engagement and mobile functionality. Since 2012, has brought millions of investors together from over 164 countries to discuss their portfolio holdings and find new investment opportunities. Download our App on iOS or Android marketplace or visit us today at to set up your free account. is a wholly owned subsidiary of EarthLabs, Inc. For further information please contact: hello@ Neither the TSX Venture Exchange ("TSXV"), OTC Best Market "(OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement The information regarding any issuer contained or referred to in any interviews conducted by has been furnished by such issuer directly, and neither nor any of its affiliates or principals assumes any responsibility for the accuracy or completeness of such information or for any failure by an issuer to ensure disclosure of events or facts which may affect the significance or accuracy of any such information. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the objectives, goals, future plans, statements regarding exploration results and exploration and/or development plans of companies featured on the platform. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects, currency risk and the other risks involved in the applicable exploration and development industry, and those risks set out in the public documents of such companies filed on SEDAR or elsewhere from time to time. Undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
CEO.CA's Inside the Boardroom: Two Gold CEOs Counter West Africa Mining Skepticism with Liberia's Democratic Stability
Toronto, Ontario--(Newsfile Corp. - June 25, 2025) - (" the leading investor social network in junior resource and venture stocks, shares exclusive updates with CEOs of junior mining explorers. Founded in 2012, a wholly owned subsidiary of EarthLabs, Inc., is one of the most popular free financial websites and apps in Canada and for investors globally - with industry leading audience engagement and mobile functionality. Millions of people visit each year to connect with investors from around the world, share knowledge and view impactful stories about stocks, commodities, and emerging companies. Meet the Executives Shaping the Mining Landscape 'Inside the Boardroom' is more than just an interview series - it's a chance to gain firsthand knowledge from industry leaders, understanding their vision, challenges, and strategy. We caught up with David Kol, CEO of Zodiac Gold Inc. (TSXV: ZAU) and Brett Richards, CEO of Pasofino Gold Ltd. (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) on why Liberia represents a compelling opportunity in West Africa's gold sector as neighboring countries embrace resource nationalism. Kol provides details on advancing the Todi Project through five targets, while Richards outlines updating the Dugbe feasibility study and timeline to production in this underexplored West African jurisdiction. Zodiac Gold (TSXV: ZAU) AND Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) Cannot view this video? Visit: Tune in to 'Inside the Boardroom' each week and be part of the conversation that's shaping the business landscape. Visit or our YouTube page for hundreds more executive interviews from here. Interested in showcasing your company on 'Inside the Boardroom'? Get in touch with our team at sales@ for further details and opportunities. About The leading community for investors & traders in junior resource & venture stocks. is one of the most popular free financial websites and apps in Canada and for small-cap investors globally -- with industry leading audience engagement and mobile functionality. Since 2012, has brought millions of investors together from over 164 countries to discuss their portfolio holdings and find new investment opportunities. Download our App on iOS or Android marketplace or visit us today at to set up your free account. is a wholly owned subsidiary of EarthLabs, Inc. For further information please contact: hello@ Neither the TSX Venture Exchange ("TSXV"), OTC Best Market "(OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement The information regarding any issuer contained or referred to in any interviews conducted by has been furnished by such issuer directly, and neither nor any of its affiliates or principals assumes any responsibility for the accuracy or completeness of such information or for any failure by an issuer to ensure disclosure of events or facts which may affect the significance or accuracy of any such information. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the objectives, goals, future plans, statements regarding exploration results and exploration and/or development plans of companies featured on the platform. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects, currency risk and the other risks involved in the applicable exploration and development industry, and those risks set out in the public documents of such companies filed on SEDAR or elsewhere from time to time. Undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
30-05-2025
- Business
- Yahoo
Pasofino Gold Announces Its Attendance at the Mining Investment Event in Quebec City, Quebec from June 3-5, 2025
Toronto, Ontario--(Newsfile Corp. - May 30, 2025) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it will be in attendance for the Mining Investment Event taking place in Quebec City, Quebec, from June 3rd to June 5th 2025, inclusive. Chief Executive Officer, Mr. Brett Richards, commented: "We are looking forward to the Mining Investment Event this coming week in Quebec City, and welcome Issuers and investors interested in hearing the new Pasofino Gold story, and its path to production." ABOUT THE DUGBE GOLD PROJECT The 2,078 km2 Dugbe Gold Project (the "Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. QUALIFIED PERSONS STATEMENT Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under NI 43-101. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (VEIN). Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. RichardsChief Executive Officer & DirectorT: +1 905 449 1500E: brett@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, risks related to investor engagement and interest, the results of business operation, the ability to advance the Dugbe Gold Project, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Yahoo
28-05-2025
- Business
- Yahoo
Pasofino Gold Announces Closing of Non-Brokered Private Placement for Gross Proceeds of Approximately C$5.0 Million
Toronto, Ontario--(Newsfile Corp. - May 28, 2025) - Pasofino Gold Limited (TSXV: VEIN) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it has closed its non-brokered private placement (announced April 30, 2025) of units (each, a "Unit") at a price of C$0.50 (or US$0.36) per Unit, for gross proceeds of approximately C$5.0 million (US$3.6 million) (the "Offering"). The Offering closed on May 27, 2025. Each Unit consists of one common share in the capital of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.75 for a period of 24 months following the issue date of the Units. Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company's common shares on the TSX Venture Exchange equals or exceeds C$0.90 for fifteen (15) consecutive trading days, to the date which is 30 days following the dissemination of a news release announcing the acceleration. A total of 10,000,000 common shares in the capital of the Company and 5,000,000 Warrants were issued pursuant to the Offering. All securities issued are subject to a 4 month hold period expiring September 28, 2025. In connection with the Offering, the Company paid finder's fee of C$57,312 in cash. The Company received a lead order from the Chief Executive Officer, Brett Richards, for 400,000 Units for gross proceeds of approximately C$200,000. Mansa Resources Limited, an affiliate of Hummingbird Resources plc ("Hummingbird"), the Company's 50.78% shareholder, subscribed to maintain Hummingbird's majority interest, acquiring 5,176,000 Units for gross proceeds of C$2,588,000. The total percentage of the Offering taken by insiders is 55.76% for gross proceeds of C$2,788,000. The subscription by and issuance of Units to all insiders is considered a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of insiders' participation. The net proceeds of the Offering will be used to advance the Dugbe Gold Project and for general working capital purposes. Chief Executive Officer, Mr. Brett Richards, commented: "Thank you to all subscribers who participated in the financing. We now embark on the process of updating the 2022 feasibility study in an effort to better reflect the current gold price environment and the current costs associated with building the Dugbe Gold Project. We are entering into an exciting period, and I look forward to presenting the results of the update as soon as possible." The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. ABOUT THE DUGBE GOLD PROJECT The 2,078 km2 Dugbe Gold Project (the "Project") is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area. A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. These deposits have a combined Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and filed on SEDAR+ at and on the Company's website. In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon. At this and several of the other prospects no drilling has been carried out to date. In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project. QUALIFIED PERSONS STATEMENT Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under NI 43-101. ABOUT PASOFINO GOLD LTD. Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (VEIN). Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest). For further information, please visit or contact: Brett A. RichardsChief Executive Officer & DirectorT: +1 905 449 1500E: brett@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, risks related to the issuance and exercise of the Warrants, including the potential acceleration of their expiry in certain market conditions, the ability to obtain all requisite regulatory approvals including the final approval of the TSX Venture Exchange, the ability to apply the proceeds as intended, the results of business operation, the ability to advance the Dugbe Gold Project, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES To view the source version of this press release, please visit Sign in to access your portfolio
