Sarama Completes A$2M Equity Placement and ASX Cleansing Notice
On July 20, 2021, Sarama Resources Ltd announced that it has successfully completed the placement of approximately A$2 million. This equity placement was made to sophisticated and institutional investors and was oversubscribed. The funds raised through this placement will be utilized for the advancement of Sarama’s exploration and development projects in West Africa, particularly in Burkina Faso.
Sarama Resources Ltd, a mineral exploration and development company focused on gold projects in West Africa, has a strong track record of discovering and developing high-grade gold deposits. The company’s management team boasts extensive experience in the mining industry, with a proven ability to drive value for shareholders.
The completion of the A$2 million equity placement is a significant milestone for Sarama as it provides the necessary capital to fund its ongoing exploration and development activities. The oversubscription of the placement highlights the strong investor interest in Sarama and its promising gold projects in Burkina Faso.
In addition to the equity placement, Sarama also issued an ASX cleansing notice to ensure compliance with the listing rules of the Australian Securities Exchange. This notice was provided to shareholders to notify them of the company’s intention to issue shares under the equity placement and to seek their approval if required.
Sarama’s proactive approach to regulatory compliance demonstrates its commitment to maintaining good corporate governance practices and upholding transparency with its shareholders. By issuing the ASX cleansing notice, the company ensures that all relevant information is communicated to its stakeholders in a timely and transparent manner.
Sarama’s focus on responsible and sustainable mining practices aligns with the growing demand for ethically sourced gold. The company places a strong emphasis on engaging with local communities and stakeholders to ensure that its operations have a positive impact on the environment and society.
Looking ahead, Sarama remains well-positioned to capitalize on the increasing global demand for gold. With a strong portfolio of exploration projects in Burkina Faso and a robust financial position following the successful completion of the A$2 million equity placement, the company is poised for continued growth and success in the years to come.
In conclusion, Sarama’s completion of the A$2 million equity placement and issuance of the ASX cleansing notice underscore its commitment to advancing its gold projects in West Africa in a responsible and transparent manner. With a solid foundation in place, Sarama is well-equipped to drive value for its shareholders and stakeholders and make a meaningful contribution to the gold mining industry in the region.