Sarama Resources: Taps investors for $2m to advance Sanutura project, Burkina Faso

Sarama Resources Taps investors for $2m to advance Sanutura project, Burkina Faso

• Sarama Resources (SRR) taps investors for $2 million to further develop its lead project, Sanutura, in Burkina Faso
• Under the placement, the company plans to issue 20 million shares at 10 cents per share, with one free attaching 15-cent option for every two shares issued
• The placement received “strong support” from new and existing investors, including from company’s board and management, who will subscribe for 500,000 shares
• Funds will be used for a preliminary economic assessment to develop the Sanutura project, plus admin and working capital costs
• SRR shares closed 4.76 per cent higher at 11 cents on Monday afternoon