Business
Sarama Resources Seeks to Dual List on ASX
VANCOUVER, BC / ACCESSWIRE / October 5, 2020 / Sarama Resources Ltd. (" Sarama " or the " Co...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"Sarama Resources Seeks to Dual List on ASXVANCOUVER, BC / ACCESSWIRE / October 5, 2020 / Sarama Resources Ltd. (\"Sarama\" or the \"Company\") is pleased to advise that it is pursuing a second listing of its securities on the Australian Securities Exchange (\"ASX\") in addition to the continued listing of its common shares (\"Shares\") on the TSX Venture Exchange (the \"TSXV\"). The Board of Directors (the \"Board\") believes that seeking a dual listing will provide the best platform to reflect the value of the Company's assets as it transitions towards development.Sarama believes that Board changes announced during 2020 and the recent increase in mineral resources at its flagship Sanutura Project position the Company well to transition towards development (News Releases: June 24 and September 8, 2020). The dual listing of the Company's securities on the ASX is the next step in this process.Sarama's head office, entire Board and the majority of its senior management are now based in Perth, Western Australia, alongside many other ASX-listed, West African focussed, gold developers and producers, including Perseus Mining, Resolute Mining, West African Resources, Cardinal Resources and Tietto Minerals, which currently have a collective market capitalisation in excess of C$4billion.Commenting on the proposed ASX listing, Andrew Dinning, CEO, said:\"We believe that a dual listing will provide Sarama with both access to a broader pool of informed capital and the best opportunity for its shareholders to realise optimal value for their shareholding in Sarama. Following ASX listing, Sarama will continue to advance its Sanutura Project towards feasibility, including completing a significant exploration program designed to expand the Company's existing resources, improve resource confidence and test numerous exploration targets within the Company's 100% owned 1,400km2 landholding in the heart of one of Burkina Faso's most prolific gold belts. The Board is confident that achieving a dual listing of the Company's shares is the best way to maximise shareholder value in the medium and long term.\"Sarama has engaged leading resources-focussed broker, Hartleys Limited, to act as Lead Manager for its Australian listing. It is expected that an ASX listing prospectus will be filed with the Australian Securities and Investments Commission (\"ASIC\") ...