Sarama Resources Finalizes Sale of WA Gold Assets to Riedel Resources
Sarama Resources Ltd (ASX: SRR) has finalized the sale of its controlling majority interest in the Cosmo and Mt Venn gold exploration projects to Riedel Resources Limited (ASX: RIE). Located in Western Australia's Laverton Gold District, the assets were transferred through the sale of 100% of Sarama's subsidiary, Yikarri Resources Pty Ltd. In exchange, Sarama received AU$3.2 million in total consideration, including 150 million Riedel shares at AU$0.025 per share, 100 million performance rights, and up to AU$300,000 in expense coverage.
The transaction gives Sarama an initial~32% equity stake in Riedel, which could increase to~44% if all performance rights vest. The deal aligns with Sarama’s broader capital management strategy by providing direct exposure to active exploration while minimizing dilution regarding its arbitration claim against the Government of Burkina Faso. Key personnel changes accompanied the deal, as Sarama Executive Chairman Andrew Dinning joins Riedel’s board, while executives Paul Schmiede and Jack Hamilton assume senior operational roles at Riedel.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Sarama Resources Finalizes Sale of WA Gold Assets to Riedel Resources
Sarama Resources Ltd (ASX: SRR) has finalized the sale of its controlling majority interest in the Cosmo and Mt Venn gold exploration projects to Riedel Resources Limited (ASX: RIE). Located in Western Australia's Laverton Gold District, the assets were transferred through the sale of 100% of Sarama's subsidiary, Yikarri Resources Pty Ltd. In exchange, Sarama received AU$3.2 million in total consideration, including 150 million Riedel shares at AU$0.025 per share, 100 million performance rights, and up to AU$300,000 in expense coverage.
The transaction gives Sarama an initial~32% equity stake in Riedel, which could increase to~44% if all performance rights vest. The deal aligns with Sarama’s broader capital management strategy by providing direct exposure to active exploration while minimizing dilution regarding its arbitration claim against the Government of Burkina Faso. Key personnel changes accompanied the deal, as Sarama Executive Chairman Andrew Dinning joins Riedel’s board, while executives Paul Schmiede and Jack Hamilton assume senior operational roles at Riedel.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au