Sarama Resources Secures A$2.7 Million for Laverton Drilling

Sarama Resources Ltd announced a successful equity placement raising A$2.7 million. The funds, supported by institutional and professional investors, will primarily support exploration at the Cosmo Gold Project in the Laverton Gold District, Western Australia, scheduled for Q3 CY25.

The drilling initiative will focus on high-priority targets within a 45 km gold-in-soil trend, marking the first modern large-scale exploration of the area. Additionally, Sarama is progressing its arbitration claim against the Burkina Faso government seeking US$120 million in damages.

Powerhouse Advisory Australia Pty Ltd led the placement with additional funds to satisfy working capital requirements. The placement involved the issue of 90 million CDIs at a 5.1% to 10% discount on prevailing market prices.

Upon acquiring Mt Venn, Sarama aims to expand its tenements to include approximately 1,000 km² in the Eastern Goldfields. The placement remains subject to TSXV approval.