Clever Use of the Power to Order Pre-Action Discovery
The New South Wales Supreme Court has ordered Channel Nine to provide a draft story to a plaintiff…
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.
Click here for more information on the transaction.