Argonaut acted as Joint Lead Manager to raise CDN$4 million Placement for Sarama Resources Limited in 2018. Sarama Resources Limited (TSX-V:SWA) is a West African gold exploration and development company consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions. The funds were used to fund Sarama’s exploration activities in Burkina Faso as well as to accelerate exploration at the ThreeBee Project and Koumandara Project. The capital raising was well supported by new and existing shareholders from domestic and international institutional investors resulting in a significantly oversubscribed Placement which was also used as general working capital.
Sarama Resources Limited has a proven track record in Africa and a strong history in discovering and developing large-scale gold deposits. Their lead project is the wholly-owned Sanutura Development Project covering approximately 1,400km² of prospective greenstone terrane with a multi-million-ounce mineral resource. Sarama is well-positioned with a sound exploration strategy across its property portfolio, including the Karankasso Project JV in Houndé Belt and the Koumandara Project in the northern Banfora Greenstone Belt.
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