Sarama Resources, which has historically operated in Burkina Faso, recently reported the successful sale of the majority shares of its Australian gold assets, Laverton Gold Projects, to Riedel Resources Limited.
This acquisition provides Riedel with exposure to three exploration-stage gold properties featuring drill-ready prospects across two Tier 1 jurisdictions, thereby complementing the company's existing high-grade Kingman Gold Project in Arizona.
“We are very pleased to complete the sale of our Western Australian assets to Riedel while retaining significant exposure to their future success through our shareholding in the company.
We believe the combined portfolio has considerable exploration potential and look forward to seeing these assets advanced under a dedicated and well- funded team,” Sarama’s Executive Chairman, Andrew Dinning, stated.
“The completion of this transaction is an important part of Sarama's strategy to minimise further dilution of the Company's Claim against the Government of Burkina Faso, while ensuring the Laverton projects receive the dedicated focus and funding they require to unlock their full potential,” he added.
