Hamilton Locke is delighted to advise Sarama Resources Ltd on its successful initial public offering and dual listing on the ASX under the ticker code (“SRR”). The strongly supported IPO raised $8 million via the issue of 38,095,238 shares in the form of CHESS depositary interests.
Sarama is a TSX-V listed and British Columbia incorporated gold explorer focused on West Africa, and holds a commanding land position of approximately 1,900km² across two highly prospective gold belts in Burkina Faso. The Company’s flagship Sanutura Project has an existing multi-million ounce Mineral Resource of 9.4Mt @ 1.9g/t Au for 0.6Moz Au (Indicated) plus 52.7Mt @ 1.4g/t Au for 2.3Moz Au (Inferred) with significant growth potential.
The proceeds from the IPO will be primarily directed towards the recommencement of exploration at the Company’s Sanutura Project, which hosts a multi-million ounce Mineral Resource and a suite of targets that provide significant upside.
The team at Hamilton Locke was led by Partner Deanna Carpenter and supported by Lawyers James Roberts and Lachlan Pethick. Euroz Hartleys Limited acted as Lead Manager.
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