02:22 PM EST, 12/29/2025 (MT Newswires) -- Pasofino Gold ( EFRGF ) , down 9% on last look, said Monday that the Liberian government has informed the company that it has not met a number of conditions under the Mineral Development Agreement (MDA) for the Dugbe project, that was signed in 2019.

According to a statement, Pasofino has failed to make certain payments in a timely manner, and to complete certain activities required by the terms of the MDA.

Pasofino has requested a meeting with the authorities for the week of Jan. 18, to address the issues outlined in the notice. The company is also in talks with its controlling shareholder, Mansa Resources, regarding potential funding to address certain financial remedies being sought by the authorities.

The company has 30 days to contest the allegations or to request a hearing with the relevant authorities. Pasofino will also have a 60-day period to cure such defaults before the government can terminate the MDA.

Pasofino shares are down $0.05, to $0.62, on the TSX Venture Exchange.

Price: 0.61, Change: -0.06, Percent Change: -8.96