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Sarama Resources Announces Receipt of Consideration for Sale of Kandiole Sud Property in West Mali
(via TheNewswire) May 11, 2018 / TheNewswire / VANCOUVER, CANADA - Sarama...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"Sarama Resources Announces Receipt of Consideration for Sale of Kandiole Sud Property in West Mali(via TheNewswire)\n \n \nMay 11, 2018 / TheNewswire / VANCOUVER, CANADA - Sarama Resources Ltd. (\"Sarama\" or the \"Company\") (TSX-V:SWA) is pleased to announce the satisfaction of all conditions precedent in relation to the binding agreement (the \"Agreement\") for the sale of its non-core Kandiole Sud Exploration Property, West Mali (the \"Property\") to Oklo Resources Limited (\"Oklo\", ASX:OKU).\n\n\n \nPursuant to the Agreement, Sarama has received a cash payment of A$200,000 and shares in Oklo of value A$500,000 (calculated using a fixed Oklo share price of A$0.379/share), representing the Tranche 1 and Tranche 2 Consideration payments respectively.\n\n\n \nSarama is further entitled to a Tranche 3 Consideration payment in Oklo shares of value A$300,000 (calculated using a fixed Oklo share price of A$0.379/share) upon Oklo, or its nominee, being registered by the Mali Ministry of Mines as the 100% owner of the Property.\n\n \n \nSarama's President and CEO, Andrew Dinning, commented:\n\n\n \n\"We are pleased to have completed the transaction with Oklo and look forward to accreting potential further value from Sarama's indirect exposure to Oklo's exploration projects.\n\n\n \nSarama's focus is now firmly on advancing its ThreeBee and Koumandara Projects in Burkina Faso, both of which have untested exploration potential.\"\n\n \n \nFor further information on the Company's activities, please contact: \n\n\n \nAndrew Dinning or Paul Schmiede\n\n\n \ne: [email protected] \n\n\n \nt: +61 (0) 8 9363 7600\n\n\n \nABOUT SARAMA RESOURCES LTD \n\n\n \nSarama Resources Ltd (TSX-V: SWA) is a West African focused gold explorer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions.\n\n\n \nSarama's flagship properties are situated within the Company's South Hounde Project area in south-west Burkina Faso. Located within the prolific Hounde Greenstone Belt, Sarama's exploration programs have built on significant early success to deliver an inferred mineral resource estimate of 2.1Moz gold(2). Acacia Mining plc is earning up to a 70% interest in the South Hounde Project by satisfying certain conditions, including funding ea...