Summary
Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the Toronto Venture Exchange under TSX.V: VEIN.
Pasofino, through its wholly owned subsidiary Arx Resources, owns 100% of the Dugbe Gold Project in Liberia.
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. The Mineral Resource Estimate 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.
The project has a bankable feasibility study completed on it, with a Mineral Reserve of 2.7 oz Au using $1,700 Au price; and delivers stellar economics.
Using the gold price sensitivity table from the feasibility study, the project has a low CapEx of US$435M; high post tax NPV5 of US$1.674B @ $2,700 Au price, and an IRR @ 54.3%, 14 year mine life, AISC of US$1,055 per oz Au and an average production profile of 171,000 oz Au per year for 14 year LOM, with over 200,000 oz Au pa for the first 5 years.
A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 and filed on SEDAR+ at www.sedarplus.com and on the Company’s website.
Stock Chart
Share Structure
| As of May 1, 2025, 2024 | |
| Shares Issued | 117M |
| Warrants | 5.5M |
| Options | 10.90 |
| Fully Diluted | 133.49M |
Investment Highlights
- Significantly undervalued to its mineral resource size and quality; jurisdictional risk profile (positive) and to its peers in the market
- C.4M oz resource with a definitive feasibility study completed (at $1,600 Au price) and tremendous economic outputs
- See attached presentation
Projects
Project: Dugbe Gold Project
Product: Gold
Management Profiles
Brett Richards CEO and Director
Brett Richards – CEO and Director at Pasofino Gold Ltd. is high-energy, entrepreneurial natural resources executive with over 38 years of expertise in mining and metals. He has a unique background in mining M&A, mine financing, mine development, and senior level operations experience. He brings publicly listed CEO experience in the mining sector, as well global operational experience.
In the past 37 years of his career in mining and metals, working in greenfield, brownfield start-ups, as well as running large multi-national mining organizations across multiple jurisdictions [Avocet Mining LSE:AVM - $1.2B at its peak in 2012; 3 operating mines in 3 countries (Burkina Faso, Indonesia and Malaysia) and 20 exploration properties in 5 countries]. Brett has lived in Canada, United States, England, Chile, Brazil, Russia and in 4 African countries.
Brett is currently a Director and Advisor to 3 listed Issuers in Canada and through his family office, has private investment interests and co-investment interests in other mining projects with private equity partners.
Previously, Brett has held leadership positions for both listed and private mining / natural resources companies. He has held positions for private equity shareholders in the past including: Chairman and CEO, Banro Corporation Ltd., Chairman and CEO, African Thunder Platinum; CEO Renew Resources; CEO, BSG Resources and CEO Octéa Limited. With respect to publicly listed companies, Brett was formerly the transition CEO of Roxgold (TSX:ROG) through a successful shareholder proxy battle; was CEO of Avocet Mining plc (LSE & AIM), and was part of the five (5) person start-up of Katanga Mining Limited (TSX:KAT). Brett’s other publicly listed experience was in senior executive positions with Kinross Gold (TSX:K) and Co-Steel Inc. (TSX:CEI).
Brett is a Fellow of the Institute of Directors and a member of Ontario Association of Certified Engineering Technologists and (O.A.C.E.T.T. – Mechanical Engineering); a member of the Prospectors and Developers Association of Canada (P.D.A.C), and has been published in the field of strategic mine management. Brett is a graduate of Durham College – Mechanical Engineering, Production Management and is a graduate in Management Engineering of Cornell University – Johnson School of Business, Masters of Business Administration – Magna Cum Laude. He is currently the principal of Richards Enterprises Inc. (CI) www.rei.capital